Prudential Europe Equity Index S3

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

Performance

Discrete performance - to latest available quarter end

31/03/20
to
31/03/21
31/03/21
to
31/03/22
31/03/22
to
31/03/23
31/03/23
to
31/03/24
31/03/24
to
31/03/25
Fund 33.7% 6.0% 8.4% 11.4% 2.4%
Benchmark 34.9% 6.5% 8.7% 13.8% 3.8%

Performance - to latest available quarter end

Quarter Annualised
1
2025
3 Years to
31/03/25
5 Years to
31/03/25
10 Years to
31/03/25
Fund 5.8% 7.4% 11.9% 7.6%
Benchmark 7.6% 8.7% 13.0% 8.3%

Top 10 Holdings

Stock % Weight
SAP SE 3.78
NESTLE S.A. 3.63
NOVARTIS AG 3.33
ASML HOLDING N.V. 2.77
ALLIANZ SE 2.66
SIEMENS AKTIENGESELLSCHAFT 2.23
SANOFI 2.13
BANCO SANTANDER S.A. 2.07
SCHNEIDER ELECTRIC SE 2.06
ROCHE HOLDING AG 2.06
Total 26.72

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP Europe Equity Index Fund – the underlying fund.

Underlying fund objective: The fund gains its exposure via the M&G (Lux) BlackRock Europe ex UK Equity Fund. The underlying fund aims to be fully invested in the equity securities and equity related securities of companies that are constituents of the MSCI Japan Index. Within the index-relative limits, the Investment Manager uses a structured and systematic, bottom up stock selection process to build a portfolio with similar risk-return characteristics as the index in order to meet the fund’s investment objectives. In addition to the fund’s objective, the Investment Manager aims to reflect a fundamental ESG approach by overweighting its investments in securities which score well against the Investment Manager’s ESG research framework and underweighting the securities which score less well.

Fund Manager

BlackRock Team Managed manager of the underlying fund for 2 years

Photo of BlackRock Team Managed BlackRock Team Managed

Fund Overview

Daily price (10/06/2025) 594.30
Fund size (30/04/2025) £9.64m
Underlying Fund size £9.32m
Number of holdings 218
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 31/03/2004

Asset Allocation

pie chart
  International Equities 95.41%
  Cash and Equivalents 1.84%
  International Bonds 0.83%
  Property 0.31%
  Other Assets 1.61%

Commentary

Performance as at Q1 2025 - European equities rose in the first quarter, despite experiencing a decline in March amid increased geopolitical tensions, in line with global markets. Financials and Industrials thrived, supported by depressed valuations, earnings beats, and the announcement of increased spending on defence and infrastructure. The European Central Bank cut its policy rate twice during the quarter, lowering it to 2.65%. The Fund returned (5.8%) in the first quarter, an underperformance of (-1.8%) compared to benchmark, the FTSE All World Europe ex-UK Index in GBP. Timing differences between the fund and benchmark returns impacted the relative performance. The majority of the remaining underperformance came from security selection within Industrials, with Rheinmetall not being held due to negative ESG scoring, and experienced a surge in price following the announcement of increased spending in defence from Germany and other European economies. Excluded companies also detracted slightly. The active risk and liquidity profiles remained within target ranges. The Fund achieved a higher Brand Strength Index (BSI) Intel score and broadly improved sustainability characteristics compared to its benchmark.

Source: M&G

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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 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 GBP 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 intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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 95.41%
  Cash and Equivalents 1.84%
  International Bonds 0.83%
  Property 0.31%
  Other Assets 1.61%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Financials 21.77% - - -
 
Banks - 10.07% - -
 
Banks - - 10.07% -
 
Banks - - - 10.07%
 
Insurance - 7.46% - -
 
Non-life Insurance - - 7.40% -
 
Full Line Insurance - - - 5.44%
 
Reinsurance - - - 1.70%
 
Property & Casualty Insurance - - - 0.26%
 
Life Insurance - - 0.06% -
 
Life Insurance - - - 0.06%
 
Financial Services - 4.23% - -
 
Investment Banking & Brokerage Services - - 4.23% -
 
Diversified Financial Services - - - 2.20%
 
Asset Managers & Custodians - - - 1.89%
 
Investment Services - - - 0.14%
 
Industrials 18.60% - - -
 
Industrial Goods & Services - 13.64% - -
 
Electronic & Electrical Equipment - - 3.32% -
 
Electrical Components - - - 3.32%
 
Industrial Engineering - - 2.88% -
 
Machinery: Construction & Handling - - - 1.33%
 
Machinery: Tools - - - 0.80%
 
Machinery: Engines - - - 0.68%
 
Machinery: Industrial - - - 0.08%
 
General Industrials - - 2.76% -
 
Diversified Industrials - - - 2.70%
 
Containers & Packaging - - - 0.06%
 
Aerospace & Defence - - 2.26% -
 
Aerospace - - - 1.66%
 
Defense - - - 0.60%
 
Industrial Transportation - - 1.98% -
 
Transportation Services - - - 1.61%
 
Delivery Services - - - 0.21%
 
Railroads - - - 0.10%
 
Commercial Vehicles & Parts - - - 0.06%
 
Industrial Support Services - - 0.44% -
 
Transaction Processing Services - - - 0.44%
 
Construction & Materials - 4.96% - -
 
Construction & Materials - - 4.96% -
 
Construction - - - 2.43%
 
Building Materials: Other - - - 1.23%
 
Cement - - - 0.86%
 
Building, Roofing/Wallboard & Plumbing - - - 0.36%
 
Building: Climate Control - - - 0.09%
 
Health Care 14.05% - - -
 
Health Care - 14.05% - -
 
Pharmaceuticals & Biotechnology - - 10.99% -
 
Pharmaceuticals - - - 10.07%
 
Biotechnology - - - 0.92%
 
Medical Equipment & Services - - 2.88% -
 
Medical Equipment - - - 1.98%
 
Medical Supplies - - - 0.90%
 
Health Care Providers - - 0.18% -
 
Health Care Services - - - 0.18%
 
Consumer Discretionary 11.68% - - -
 
Consumer Products & Services - 6.00% - -
 
Personal Goods - - 5.94% -
 
Clothing & Accessories - - - 2.75%
 
Cosmetics - - - 1.58%
 
Luxury Items - - - 1.00%
 
Footwear - - - 0.61%
 
Household Goods & Home Construction - - 0.06% -
 
Household Equipment & Products - - - 0.03%
 
Household Appliance - - - 0.03%
 
Automobiles & Parts - 2.29% - -
 
Automobiles & Parts - - 2.29% -
 
Automobiles - - - 2.29%
 
Media - 1.67% - -
 
Media - - 1.67% -
 
Publishing - - - 1.12%
 
Media Agencies - - - 0.56%
 
Retail - 1.50% - -
 
Retailers - - 1.50% -
 
Apparel Retailers - - - 1.50%
 
Travel & Leisure - 0.21% - -
 
Travel & Leisure - - 0.21% -
 
Restaurants & Bars - - - 0.21%
 
Technology 8.73% - - -
 
Technology - 8.73% - -
 
Software & Computer Services - - 5.13% -
 
Software - - - 3.92%
 
Computer Services - - - 0.77%
 
Consumer Digital Services - - - 0.45%
 
Technology Hardware & Equipment - - 3.60% -
 
Production Technology Equipment - - - 2.82%
 
Semiconductors - - - 0.58%
 
Computer Hardware - - - 0.20%
 
Consumer Staples 6.00% - - -
 
Food, Beverage & Tobacco - 5.47% - -
 
Food Producers - - 4.51% -
 
Food Products - - - 4.51%
 
Beverages - - 0.96% -
 
Brewers - - - 0.96%
 
Personal Care, Drug & Grocery Stores - 0.53% - -
 
Personal Care, Drug & Grocery Stores - - 0.53% -
 
Food Retailers & Wholesalers - - - 0.53%
 
Utilities 4.30% - - -
 
Utilities - 4.30% - -
 
Electricity - - 3.54% -
 
Conventional Electricity - - - 3.19%
 
Alternative Electricity - - - 0.35%
 
Gas, Water & Multi-utilities - - 0.77% -
 
Multi-Utilities - - - 0.70%
 
Gas Distribution - - - 0.07%
 
Basic Materials 3.71% - - -
 
Chemicals - 2.23% - -
 
Chemicals - - 2.23% -
 
Specialty Chemicals - - - 1.15%
 
Chemicals: Diversified - - - 1.08%
 
Chemicals & Synthetic Fibers - - - 0.01%
 
Basic Resources - 1.47% - -
 
Industrial Metals & Mining - - 1.10% -
 
Iron & Steel - - - 0.66%
 
Aluminum - - - 0.29%
 
General Mining - - - 0.13%
 
Metal Fabricating - - - 0.02%
 
Industrial Materials - - 0.36% -
 
Paper - - - 0.36%
 
Precious Metals & Mining - - 0.02% -
 
Gold Mining - - - 0.02%
 
Energy 3.05% - - -
 
Energy - 3.05% - -
 
Non-Renewable Energy - - 2.55% -
 
Integrated Oil & Gas - - - 2.13%
 
Oil Refining and Marketing - - - 0.22%
 
Pipelines - - - 0.16%
 
Oil Equipment & Services - - - 0.04%
 
Renewable Energy - - 0.50% -
 
Renewable Energy Equipment - - - 0.50%
 
Telecommunications 2.48% - - -
 
Telecommunications - 2.48% - -
 
Telecommunications Service Providers - - 1.99% -
 
Telecommunications Services - - - 1.99%
 
Telecommunications Equipment - - 0.49% -
 
Telecommunications Equipment - - - 0.49%
 
Cash and Equivalents 1.84% - - -
 
Non-Classified 1.61% - - -
 
Real Estate 1.35% - - -
 
Real Estate - 1.35% - -
 
Real Estate Investment & Services - - 0.91% -
 
Real Estate Holding and Development - - - 0.91%
 
Real Estate Investment Trusts - - 0.44% -
 
Retail REITs - - - 0.31%
 
Office REITs - - - 0.13%
 
Bonds 0.83% - - -
 
Alternative Trading Strategies 0.00% - - -
 
Alternative Trading Strategies - 0.00% - -
 
Alternative Trading Strategies - - 0.00% -
 
Alternative Trading Strategies - - - 0.00%

Regional Allocation

pie chart
  Developed Europe - Excl UK 92.49%
  Non-Classified 3.40%
  Emerging Europe 1.96%
  Cash and Equivalents 1.84%
  Property 0.31%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 97.33%
  Cash 1.84%
  Euro 0.64%
  Swiss Franc 0.19%

Regional Breakdown

Expand allCollapse all
Region Country
 
Developed Europe - Excl UK 92.49% -
 
France - 19.67%
 
Switzerland - 17.93%
 
Germany - 16.63%
 
Netherlands - 9.18%
 
Spain - 7.01%
 
Sweden - 6.57%
 
Denmark - 5.27%
 
Italy - 4.32%
 
Belgium - 1.78%
 
Finland - 1.57%
 
Norway - 1.12%
 
Portugal - 0.82%
 
Ireland - 0.44%
 
Luxembourg - 0.11%
 
Austria - 0.07%
 
Non-Classified 3.40% -
 
Emerging Europe 1.96% -
 
Turkey - 0.83%
 
Greece - 0.52%
 
Poland - 0.34%
 
Czech Republic - 0.14%
 
Hungary - 0.14%
 
Cash and Equivalents 1.84% -
 
Property 0.31% -

Breakdown By Market Cap (%)

Mega
 
 
68.74%
Large
 
 
19.49%
Medium
 
 
3.15%
Small
 
 
0.01%
Non-Classified
 
 
5.94%
Bonds
 
 
0.83%
Cash
 
 
1.84%

Top 10 Holdings

Stock % Weight Sector Country
1 SAP SE 3.78% Software & Computer Services Germany
2 NESTLE S.A. 3.63% Food Producers Switzerland
3 NOVARTIS AG 3.33% Pharmaceuticals & Biotechnology Switzerland
4 ASML HOLDING N.V. 2.77% Technology Hardware & Equipment Netherlands
5 ALLIANZ SE 2.66% Non-life Insurance Germany
6 SIEMENS AKTIENGESELLSCHAFT 2.23% General Industrials Germany
7 SANOFI 2.13% Pharmaceuticals & Biotechnology France
8 BANCO SANTANDER S.A. 2.07% Banks Spain
9 SCHNEIDER ELECTRIC SE 2.06% Electronic & Electrical Equipment France
10 ROCHE HOLDING AG 2.06% Pharmaceuticals & Biotechnology Switzerland

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 8.73% - - - - - - 8.73%
Telecommunications - 2.48% - 0.64% - - - - 3.12%
Financials - 21.77% - 0.19% - - - - 21.96%
Real Estate - 1.04% - - - 0.31% - - 1.35%
Consumer Discretionary - 11.68% - - - - - - 11.68%
Consumer Staples - 6.00% - - - - - - 6.00%
Energy - 3.05% - - - - - - 3.05%
Utilities - 4.30% - - - - - - 4.30%
Health Care - 14.05% - - - - - - 14.05%
Industrials - 18.60% - - - - - - 18.60%
Basic Materials - 3.71% - - - - - - 3.71%
Cash and Equivalents - - - - - - - 1.84% 1.84%
Non-Classified - - - - - - 1.61% - 1.61%

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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 3424793
Mex Code PUMUL
Isin Code GB0034247931
Citi Code P543

Fund Charges

Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G PP Europe Equity Index Fund – the underlying fund. Underlying fund objective: The fund gains its exposure via the M&G (Lux) BlackRock Europe ex UK Equity Fund. The underlying fund aims to be fully invested in the equity securities and equity related securities of companies that are constituents of the MSCI Japan Index. Within the index-relative limits, the Investment Manager uses a structured and systematic, bottom up stock selection process to build a portfolio with similar risk-return characteristics as the index in order to meet the fund’s investment objectives. In addition to the fund’s objective, the Investment Manager aims to reflect a fundamental ESG approach by overweighting its investments in securities which score well against the Investment Manager’s ESG research framework and underweighting the securities which score less well.
Benchmark FTSE World Europe ex UK Index
ABI Sector Europe excluding UK Equities

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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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.

These risk ratings have been developed by Prudential to help provide an indication of a fund’s potential level of risk and reward based on the type of assets which may be held by the fund. Other companies may use different descriptions and as such these risk ratings should not be considered as generic across the fund management industry.

We regularly review our fund risk ratings, so they may change in the future. If, in our view, there is a material change in the fund's level of risk, for example due to a significant change to the assets held by the fund or in the way the fund is managed, we will provide information on the new risk rating. We recommend that you make sure you understand the risk rating of any fund before you invest.

You should also consider discussing your decision and the appropriateness of a fund's risk rating with an adviser.

  • Higher Risk
  • Medium to Higher Risk
  • Medium Risk
  • Lower to Medium Risk
  • Lower Risk
  • Minimal Risk

Higher Risk

These are specialist equity funds that focus on set geographical regions or a particular type of share e.g. shares of smaller companies or those that conform to certain criteria.

Help

Important Information

This factsheet is intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2023. FTSE Russell is a trading name of certain of the LSE Group companies. e.g., “FTSE®” “Russell®”, “FTSE Russell®”, “MTS®”, “FTSE4Good®”, “ICB®”, “Mergent®, The Yield Book®,” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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 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 GBP 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 intended for the trustees, sponsors, advisers and members of occupational pension schemes using Prudential group pension contracts and Prudential grouped personal pensions and Stakeholder pension contracts. Its purpose is to provide an insight into how investment markets and funds have performed over the period and is provided for information only. If you are not familiar with any of the investment terminology included, then please contact an adviser. Investors should refer to their scheme documentation (e.g. Fund Guide) for fund availability, investment strategy, any scheme 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.

'Prudential' is a trading name of Prudential Pensions Limited. Prudential Pensions Limited is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 992726. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.