PIA Invesco Managed Growth Ser B

Essentials Portfolio Analysis Background Data Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

28/02/19
to
29/02/20
29/02/20
to
28/02/21
28/02/21
to
28/02/22
28/02/22
to
28/02/23
28/02/23
to
29/02/24
Fund -3.7% 12.4% 4.5% 5.2% 7.3%
Sector 6.2% 7.5% 3.2% 2.4% 4.6%
Rank 127/128 45/136 62/136 24/143 46/142
Quartile 4 2 2 1 2

Annualised performance

Annualised
3 Years to
29/02/24
5 Years to
29/02/24
10 Years to
29/02/24
Fund 5.6% 5.0% 6.0%
Sector 3.4% 4.8% 5.0%
Rank 38/135 58/127 23/70
Quartile 2 2 2

Top 10 Holdings

Stock % Weight
Invesco Markets Plc Invesco S&P 500 UCITS ETF - 11.24
Invesco Markets Plc Invesco EQQQ Nasdaq-100 UCITS ETF (Dist.) 7.77
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.19
SHELL 1.01
SAMSUNG ELECTRONICS CO. LTD 0.92
TOTAL SE 0.80
ASTRAZENECA 0.79
SANOFI 0.77
BP 0.70
UNILEVER 0.67
Total 25.85

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Invesco Managed Growth Fund - the underlying fund.

Underlying Fund Objective: The fund aims to achieve long-term (5 years plus) capital growth. The fund invests at least 80% of its assets in collective investment schemes (including funds managed by the Invesco group) which invest in a broad range of assets including shares or other equity related securities and corporate and government debt securities (including investment grade, non-investment grade and unrated). In pursuing the fund's investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including shares of companies), money market instruments, other collective investment schemes (including funds managed by the Invesco group), deposits and cash. The fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. The fund invests in collective investment schemes which may use derivatives for investment purposes and/or for efficient portfolio management.

Fund Manager

Richard Batty manager of the underlying fund for 0 years and 11 months

Photo of Richard Batty Richard Batty joined the company in March 2013, and serves as a fund manager within the Multi Asset team. Previously, he had worked at Standard Life Investments since 2003 where he was the Global Investment Strategist in their Strategy team which is now part of Standard Life’s Multi Asset investment team, gaining additional responsibilities for Global Tactical Asset Allocation in 2012. Prior to joining Standard Life Investments, he began his investment career at James Capel/HSBC as an equity strategist in 1995. During this part of his career, Richard became a highly-rated, senior member of its industry renowned Economics and Strategy group. In 1994, he was awarded a PhD in Financial Economics from Brunel University, where he was a part-time research assistant and taught both graduate and undergraduate students.

Georgina Taylor manager of the underlying fund for 0 years and 5 months

Photo of Georgina Taylor Georgina is a Fund Manager within the Henley Investment Centre's Multi Asset team. Georgina joined our company in June 2013 as a Product Director and then went on to become Research Director in 2016. Georgina commenced her career with HSBC in 2001 as an Equity Strategist. She went on to join the Equity Strategy team at Goldman Sachs in 2004 where she wrote global equity and asset allocation research. Georgina gained asset management experience at Legal & General Investment Management, contributing to the overall asset allocation outlook for the firm and multi asset funds. Before joining Invesco Georgina was head of Equity Strategy, EMEA, at State Street Global Markets, producing and presenting on asset allocation and equity research. Georgina holds a BSc (Hons) in Economics from the University of Bath.

David Aujla manager of the underlying fund for 0 years and 11 months

Photo of David Aujla TBC

Invesco Investment Solutions Team manager of the underlying fund for 4 years and 2 months

Photo of Invesco Investment Solutions Team TBC

Fund Overview

Bid (26/03/2024) 5.13
Offer (26/03/2024) 5.40
Fund size (29/02/2024) £44.83m
Underlying Fund size £594.38m
Number of holdings 2809
Launch date 05/04/2002

Fund Charges

Annual Management Charge (AMC) 1.45%
Further Costs 0.33%
Yearly Total 1.78%

Asset Allocation

pie chart
  International Equities 69.15%
  UK Equities 18.55%
  UK Corporate Bonds 6.84%
  International Bonds 1.99%
  Cash and Equivalents 1.19%
  Money Market 0.99%
  UK Gilts 0.44%
  Property 0.30%
  Alternative Trading Strategies -0.26%
  Other Assets 0.81%
Portfolio data accurate as at: 31/01/24

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.

This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Equities 69.15%
  UK Equities 18.55%
  UK Corporate Bonds 6.84%
  International Bonds 1.99%
  Cash and Equivalents 1.19%
  Money Market 0.99%
  UK Gilts 0.44%
  Property 0.30%
  Alternative Trading Strategies -0.26%
  Other Assets 0.81%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Non-Classified 19.94% - - -
 
Non-Classified - 0.14% - -
 
Non-Classified - - 0.14% -
 
Non-Classified - - - 0.14%
 
Financials 12.10% - - -
 
Banks - 6.68% - -
 
Banks - - 6.68% -
 
Banks - - - 6.68%
 
Insurance - 3.14% - -
 
Non-life Insurance - - 2.29% -
 
Full Line Insurance - - - 1.30%
 
Property & Casualty Insurance - - - 0.87%
 
Reinsurance - - - 0.10%
 
Insurance Brokers - - - 0.03%
 
Life Insurance - - 0.85% -
 
Life Insurance - - - 0.85%
 
Financial Services - 2.28% - -
 
Investment Banking & Brokerage Services - - 1.72% -
 
Asset Managers & Custodians - - - 0.73%
 
Diversified Financial Services - - - 0.53%
 
Investment Services - - - 0.46%
 
Finance & Credit Services - - 0.57% -
 
Consumer Lending - - - 0.39%
 
Mortgage Finance - - - 0.13%
 
Financial Data & Systems - - - 0.04%
 
Industrials 11.49% - - -
 
Industrial Goods & Services - 9.17% - -
 
Industrial Support Services - - 2.15% -
 
Professional Business Support Services - - - 1.06%
 
Industrial Suppliers - - - 0.46%
 
Business Training & Employment Agencies - - - 0.30%
 
Transaction Processing Services - - - 0.24%
 
Security Services - - - 0.10%
 
General Industrials - - 2.06% -
 
Diversified Industrials - - - 1.63%
 
Containers & Packaging - - - 0.37%
 
Plastics - - - 0.06%
 
Industrial Transportation - - 1.62% -
 
Transportation Services - - - 0.50%
 
Delivery Services - - - 0.47%
 
Trucking - - - 0.16%
 
Commercial Vehicle-Equipment Leasing - - - 0.14%
 
Railroads - - - 0.13%
 
Commercial Vehicles & Parts - - - 0.13%
 
Marine Transportation - - - 0.05%
 
Railroad Equipment - - - 0.04%
 
Aerospace & Defence - - 1.34% -
 
Defense - - - 0.91%
 
Aerospace - - - 0.42%
 
Electronic & Electrical Equipment - - 1.12% -
 
Electrical Components - - - 0.44%
 
Electronic Equipment: Gauges & Meters - - - 0.44%
 
Electronic Equipment: Control & Filter - - - 0.15%
 
Electronic Equipment: Other - - - 0.09%
 
Industrial Engineering - - 0.88% -
 
Machinery: Construction & Handling - - - 0.36%
 
Machinery: Industrial - - - 0.32%
 
Machinery: Tools - - - 0.08%
 
Machinery: Agricultural - - - 0.08%
 
Machinery: Specialty - - - 0.04%
 
Construction & Materials - 2.32% - -
 
Construction & Materials - - 2.32% -
 
Building Materials: Other - - - 1.19%
 
Engineering & Contracting Services - - - 0.41%
 
Cement - - - 0.40%
 
Building: Climate Control - - - 0.17%
 
Building, Roofing/Wallboard & Plumbing - - - 0.13%
 
Construction - - - 0.03%
 
Consumer Discretionary 9.75% - - -
 
Consumer Products & Services - 3.19% - -
 
Leisure Goods - - 1.16% -
 
Electronic Entertainment - - - 0.61%
 
Toys - - - 0.21%
 
Consumer Electronics - - - 0.20%
 
Recreational Products - - - 0.08%
 
Recreational Vehicles & Boats - - - 0.06%
 
Household Goods & Home Construction - - 0.77% -
 
Home Construction - - - 0.41%
 
Household Appliance - - - 0.18%
 
Household Equipment & Products - - - 0.12%
 
Household Furnishings - - - 0.07%
 
Consumer Services - - 0.70% -
 
Consumer Services: Misc. - - - 0.59%
 
Education Services - - - 0.06%
 
Vending & Catering Service - - - 0.05%
 
Personal Goods - - 0.56% -
 
Clothing & Accessories - - - 0.34%
 
Luxury Items - - - 0.14%
 
Footwear - - - 0.06%
 
Cosmetics - - - 0.03%
 
Travel & Leisure - 1.84% - -
 
Travel & Leisure - - 1.84% -
 
Restaurants & Bars - - - 0.75%
 
Hotels & Motels - - - 0.42%
 
Recreational Services - - - 0.42%
 
Casinos & Gambling - - - 0.11%
 
Airlines - - - 0.10%
 
Travel & Tourism - - - 0.04%
 
Automobiles & Parts - 1.67% - -
 
Automobiles & Parts - - 1.67% -
 
Automobiles - - - 0.93%
 
Auto Parts - - - 0.60%
 
Tires - - - 0.07%
 
Auto Services - - - 0.06%
 
Media - 1.57% - -
 
Media - - 1.57% -
 
Media Agencies - - - 0.87%
 
Entertainment - - - 0.36%
 
Radio & TV Broadcasters - - - 0.17%
 
Publishing - - - 0.16%
 
Retail - 1.49% - -
 
Retailers - - 1.49% -
 
Diversified Retailers - - - 0.99%
 
Apparel Retailers - - - 0.21%
 
Home Improvement Retailers - - - 0.20%
 
Specialty Retailers - - - 0.08%
 
Bonds 9.28% - - -
 
Technology 8.58% - - -
 
Technology - 8.58% - -
 
Technology Hardware & Equipment - - 4.39% -
 
Semiconductors - - - 2.98%
 
Electronic Components - - - 0.74%
 
Computer Hardware - - - 0.32%
 
Electronic Office Equipment - - - 0.21%
 
Production Technology Equipment - - - 0.14%
 
Software & Computer Services - - 4.19% -
 
Consumer Digital Services - - - 1.62%
 
Software - - - 1.62%
 
Computer Services - - - 0.95%
 
Health Care 6.42% - - -
 
Health Care - 6.42% - -
 
Pharmaceuticals & Biotechnology - - 4.46% -
 
Pharmaceuticals - - - 4.30%
 
Biotechnology - - - 0.15%
 
Medical Equipment & Services - - 1.39% -
 
Medical Equipment - - - 0.74%
 
Medical Supplies - - - 0.58%
 
Medical Services - - - 0.07%
 
Health Care Providers - - 0.58% -
 
Health Care Facilities - - - 0.32%
 
Health Care Management Services - - - 0.16%
 
Health Care Services - - - 0.10%
 
Consumer Staples 5.56% - - -
 
Food, Beverage & Tobacco - 3.32% - -
 
Beverages - - 1.69% -
 
Brewers - - - 0.83%
 
Soft Drinks - - - 0.71%
 
Distillers & Vintners - - - 0.14%
 
Food Producers - - 1.12% -
 
Food Products - - - 1.10%
 
Farming, Fishing, Ranching & Plantations - - - 0.02%
 
Tobacco - - 0.51% -
 
Tobacco - - - 0.51%
 
Personal Care, Drug & Grocery Stores - 2.24% - -
 
Personal Care, Drug & Grocery Stores - - 2.24% -
 
Personal Products - - - 0.94%
 
Food Retailers & Wholesalers - - - 0.81%
 
Nondurable Household Products - - - 0.40%
 
Drug Retailers - - - 0.10%
 
Energy 4.90% - - -
 
Energy - 4.90% - -
 
Non-Renewable Energy - - 4.62% -
 
Integrated Oil & Gas - - - 3.40%
 
Oil: Crude Producers - - - 0.54%
 
Oil Refining and Marketing - - - 0.39%
 
Oil Equipment & Services - - - 0.25%
 
Offshore Drilling & Other Services - - - 0.03%
 
Pipelines - - - 0.02%
 
Renewable Energy - - 0.28% -
 
Renewable Energy Equipment - - - 0.28%
 
Alternative Fuels - - - 0.00%
 
Basic Materials 3.93% - - -
 
Basic Resources - 2.71% - -
 
Industrial Metals & Mining - - 1.81% -
 
General Mining - - - 1.09%
 
Iron & Steel - - - 0.34%
 
Metal Fabricating - - - 0.21%
 
Copper - - - 0.08%
 
Aluminum - - - 0.06%
 
Nonferrous Metals - - - 0.02%
 
Industrial Materials - - 0.51% -
 
Paper - - - 0.51%
 
Precious Metals & Mining - - 0.40% -
 
Gold Mining - - - 0.40%
 
Chemicals - 1.22% - -
 
Chemicals - - 1.22% -
 
Chemicals: Diversified - - - 0.58%
 
Specialty Chemicals - - - 0.56%
 
Fertilizers - - - 0.08%
 
Utilities 2.81% - - -
 
Utilities - 2.81% - -
 
Gas, Water & Multi-utilities - - 1.44% -
 
Multi-Utilities - - - 0.81%
 
Water - - - 0.55%
 
Gas Distribution - - - 0.07%
 
Electricity - - 1.21% -
 
Conventional Electricity - - - 0.90%
 
Alternative Electricity - - - 0.31%
 
Waste & Disposal Services - - 0.16% -
 
Waste & Disposal Services - - - 0.16%
 
Telecommunications 2.40% - - -
 
Telecommunications - 2.40% - -
 
Telecommunications Service Providers - - 1.23% -
 
Telecommunications Services - - - 1.18%
 
Cable Television Services - - - 0.06%
 
Telecommunications Equipment - - 1.16% -
 
Telecommunications Equipment - - - 1.16%
 
Cash and Equivalents 2.18% - - -
 
Real Estate 0.93% - - -
 
Real Estate - 0.93% - -
 
Real Estate Investment & Services - - 0.49% -
 
Real Estate Holding and Development - - - 0.43%
 
Real Estate Services - - - 0.06%
 
Real Estate Investment Trusts - - 0.43% -
 
Industrial REITs - - - 0.20%
 
Other Specialty REITs - - - 0.06%
 
Retail REITs - - - 0.06%
 
Office REITs - - - 0.06%
 
Diversified REITs - - - 0.04%
 
Infrastructure REITs - - - 0.01%
 
Alternative Trading Strategies -0.26% - - -
 
Alternative Trading Strategies - -0.26% - -
 
Alternative Trading Strategies - - -0.26% -
 
Alternative Trading Strategies - - - -0.26%

Regional Allocation

pie chart
  North America 31.66%
  UK 25.83%
  Developed Europe - Excl UK 17.09%
  Emerging Asia 9.17%
  Japan 8.03%
  Cash and Equivalents 2.18%
  Non-Classified 1.59%
  Developed Asia 1.40%
  South & Central America 1.29%
  Other Regions 1.74%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 90.56%
  Pound Sterling 3.48%
  Euro 3.46%
  US Dollar 1.57%
  Unrecognised 0.47%
  Cash 0.16%
  Other Currencies 0.30%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 31.66% -
 
United States - 30.86%
 
Canada - 0.80%
 
UK 25.83% -
 
United Kingdom - 25.83%
 
Developed Europe - Excl UK 17.09% -
 
France - 6.28%
 
Netherlands - 2.40%
 
Italy - 1.55%
 
Spain - 1.12%
 
Ireland - 1.08%
 
Finland - 0.96%
 
Switzerland - 0.94%
 
Denmark - 0.70%
 
Luxembourg - 0.62%
 
Sweden - 0.55%
 
Portugal - 0.42%
 
Austria - 0.27%
 
Belgium - 0.22%
 
Norway - 0.12%
 
Germany - -0.14%
 
Emerging Asia 9.17% -
 
South Korea - 2.52%
 
Taiwan - 2.17%
 
India - 1.61%
 
China - 1.56%
 
Indonesia - 0.66%
 
Thailand - 0.52%
 
Viet Nam - 0.12%
 
Malaysia - 0.00%
 
Japan 8.03% -
 
Japan - 8.03%
 
Cash and Equivalents 2.18% -
 
Non-Classified 1.59% -
 
Developed Asia 1.40% -
 
Hong Kong - 0.82%
 
Singapore - 0.58%
 
South & Central America 1.29% -
 
Brazil - 0.83%
 
Mexico - 0.34%
 
Chile - 0.12%
 
Australia & New Zealand 0.78% -
 
Australia - 0.66%
 
Emerging Europe 0.40% -
 
Hungary - 0.18%
 
Greece - 0.11%
 
Romania - 0.06%
 
Poland - 0.03%
 
Croatia - 0.02%
 
Serbia - 0.01%
 
Middle East & Africa 0.39% -
 
South Africa - 0.28%
 
Saudi Arabia - 0.08%
 
Israel - 0.01%
 
United Arab Emirates - 0.01%
 
Morocco - 0.00%
 
Property 0.30% -
 
Australia & New Zealand -0.13% -

Breakdown By Market Cap (%)

Mega
 
 
29.35%
Large
 
 
13.42%
Medium
 
 
14.27%
Small
 
 
4.98%
Micro
 
 
0.87%
Non-Classified
 
 
25.66%
Bonds
 
 
9.28%
Cash
 
 
2.18%

Top 10 Holdings

Stock % Weight Sector Country
1 Invesco Markets Plc Invesco S&P 500 UCITS ETF - 11.24% Non-Classified United States
2 Invesco Markets Plc Invesco EQQQ Nasdaq-100 UCITS ETF (Dist.) 7.77% Non-Classified United States
3 TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.19% Technology Hardware & Equipment Taiwan
4 SHELL 1.01% Non-Renewable Energy United Kingdom
5 SAMSUNG ELECTRONICS CO. LTD 0.92% Telecommunications Equipment South Korea
6 TOTAL SE 0.80% Non-Renewable Energy France
7 ASTRAZENECA 0.79% Pharmaceuticals & Biotechnology United Kingdom
8 SANOFI 0.77% Pharmaceuticals & Biotechnology France
9 BP 0.70% Non-Renewable Energy United Kingdom
10 UNILEVER 0.67% Personal Care, Drug & Grocery Stores United Kingdom

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology 0.60% 7.97% - - - - - - 8.58%
Telecommunications 0.10% 2.30% - - - - - - 2.40%
Financials 2.98% 9.13% - - - - - - 12.10%
Real Estate 0.14% 0.49% - - - 0.30% - - 0.93%
Consumer Discretionary 2.64% 7.11% - - - - - - 9.75%
Consumer Staples 2.68% 2.88% - - - - - - 5.56%
Energy 2.06% 2.84% - - - - - - 4.90%
Utilities 1.05% 1.75% - - - - - - 2.81%
Health Care 1.83% 4.59% - - - - - - 6.42%
Industrials 3.06% 8.43% - - - - - - 11.49%
Basic Materials 1.31% 2.62% - - - - - - 3.93%
Cash and Equivalents - - - - - - - 1.19% 1.19%
Bonds - - 6.84% 1.99% 0.44% - - - 9.28%
Non-Classified 0.09% 19.04% - - - - 0.55% 0.99% 20.67%

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.

This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code B00HWR1
Mex Code SBIPMB
Isin Code IE00B00HWR11
Citi Code QV65

Fund Charges

Annual Management Charge (AMC) 1.45%
Further Costs 0.33%
Yearly Total 1.78%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the Invesco Managed Growth Fund - the underlying fund. Underlying Fund Objective: The fund aims to achieve long-term (5 years plus) capital growth. The fund invests at least 80% of its assets in collective investment schemes (including funds managed by the Invesco group) which invest in a broad range of assets including shares or other equity related securities and corporate and government debt securities (including investment grade, non-investment grade and unrated). In pursuing the fund's investment objective, the fund manager may consider it appropriate to also invest in other transferable securities (including shares of companies), money market instruments, other collective investment schemes (including funds managed by the Invesco group), deposits and cash. The fund may use derivatives for efficient portfolio management purposes only, to reduce risk, reduce costs and/or generate additional capital or income. The fund invests in collective investment schemes which may use derivatives for investment purposes and/or for efficient portfolio management.
Benchmark IA Flexible Investment sector Average
Sector OI Flexible Investment

Ratings

FE Crown Crown Rating of 4

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your investment can go down as well as up so you might get back less than you put in.

This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

The registered office of Prudential International is in Ireland at Montague House, Adelaide Road, Dublin 2. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.