PIA M&G Managed Growth Ser B-2 - not available for new business or switches

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

Performance

Discrete performance - to last month end

31/05/19
to
31/05/20
31/05/20
to
31/05/21
31/05/21
to
31/05/22
31/05/22
to
31/05/23
31/05/23
to
31/05/24
Fund -3.4% 25.4% 4.2% 2.5% 13.9%
Sector 2.4% 11.0% 1.0% 0.1% 8.4%
Rank 114/127 13/135 56/139 35/142 27/145
Quartile 4 1 2 1 1

Annualised performance

Annualised
3 Years to
31/05/24
5 Years to
31/05/24
10 Years to
31/05/24
Fund 6.7% 8.1% 7.5%
Sector 3.1% 4.5% 5.2%
Rank 25/138 27/126 14/73
Quartile 1 1 1

Top 10 Holdings

Stock % Weight
UNITED KINGDOM OF GREAT BRITAIN AN 0% 09/09/2024 4.34
4⅜% Treasury Gilt 2054 2.94
MICROSOFT CORPORATION 1.21
NOVO NORDISK A/S 1.20
UNITED STATES TREASURY 0% 16/05/2024 1.20
UNITED STATES TREASURY 0% 25/04/2024 1.09
UNITED STATES TREASURY 0% 04/04/2024 0.99
UNITED STATES TREASURY 0% 13/06/2024 0.98
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 0.96
UNILEVER 0.95
Total 15.86

Fund Aims

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

Underlying Fund Objective: The fund aims to provide a higher total return (the combination of capital growth and income) net of the Ongoing Charge Figure, than the average return of the IA Flexible Investment Sector over any five-year period. It is a multi-asset fund that invests at least 70% of its assets in other collective investment schemes in order to gain exposure to assets from anywhere in the world, including equities, fixed income, convertibles, cash, or near cash. The fund may also invest directly in these assets. In aggregate, the fund will invest at least 70% of its assets in equities, either directly or via collective investment schemes. Derivatives may be used for investment purposes, efficient portfolio management and hedging.

Fund Manager

Craig Simpson manager of the underlying fund for 1 years and 6 months

Photo of Craig Simpson Craig Simpson was appointed co-manager of the M&G Episode Growth Fund in December 2019, and co-deputy fund manager of the M&G Global Target Return Fund from launch in December 2016. In February 2015, he was appointed Head of Portfolio Management for the Multi Asset team. Craig joined M&G in 2004 as a portfolio manager and has more than 15 years’ experience in the investment industry. Prior to joining M&G, Craig was a trainee fund manager at Equitable Life Assurance and an analyst at Pictet Asset Management. He graduated from the University of Aberdeen with a degree in land economics.

Fund Overview

Bid (13/06/2024) 3.57
Offer (13/06/2024) 3.76
Fund size (30/04/2024) £53.46m
Underlying Fund size £971.35m
Number of holdings 6771
Launch date 05/04/2002

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.01%
Yearly Total 1.31%

Asset Allocation

pie chart
  International Equities 58.64%
  UK Equities 12.71%
  Alternative Trading Strategies 9.77%
  International Bonds 6.29%
  UK Corporate Bonds 4.54%
  UK Gilts 2.95%
  Property 0.74%
  Money Market 0.08%
  Investment Trusts 0.02%
  Other Assets 4.25%
Portfolio data accurate as at: 31/03/24

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 58.64%
  UK Equities 12.71%
  Alternative Trading Strategies 9.77%
  International Bonds 6.29%
  UK Corporate Bonds 4.54%
  UK Gilts 2.95%
  Property 0.74%
  Money Market 0.08%
  Investment Trusts 0.02%
  Other Assets 4.25%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 13.78% - - -
 
Financials 12.85% - - -
 
Banks - 7.34% - -
 
Banks - - 7.34% -
 
Banks - - - 7.34%
 
Insurance - 2.99% - -
 
Non-life Insurance - - 2.06% -
 
Property & Casualty Insurance - - - 0.86%
 
Full Line Insurance - - - 0.50%
 
Reinsurance - - - 0.48%
 
Insurance Brokers - - - 0.22%
 
Life Insurance - - 0.93% -
 
Life Insurance - - - 0.93%
 
Financial Services - 2.52% - -
 
Investment Banking & Brokerage Services - - 2.00% -
 
Asset Managers & Custodians - - - 1.11%
 
Investment Services - - - 0.50%
 
Diversified Financial Services - - - 0.39%
 
Finance & Credit Services - - 0.50% -
 
Financial Data & Systems - - - 0.47%
 
Mortgage Finance - - - 0.03%
 
Consumer Lending - - - 0.00%
 
Equity Investment Instruments - - 0.02% -
 
Equity Investment Instruments - - - 0.02%
 
Industrials 12.52% - - -
 
Industrial Goods & Services - 11.79% - -
 
Industrial Support Services - - 3.78% -
 
Transaction Processing Services - - - 1.76%
 
Professional Business Support Services - - - 0.62%
 
Business Training & Employment Agencies - - - 0.56%
 
Industrial Suppliers - - - 0.45%
 
Security Services - - - 0.39%
 
General Industrials - - 2.25% -
 
Diversified Industrials - - - 1.51%
 
Containers & Packaging - - - 0.48%
 
Glass - - - 0.13%
 
Plastics - - - 0.11%
 
Paints & Coatings - - - 0.02%
 
Industrial Transportation - - 2.10% -
 
Marine Transportation - - - 0.81%
 
Transportation Services - - - 0.55%
 
Railroads - - - 0.39%
 
Commercial Vehicles & Parts - - - 0.25%
 
Delivery Services - - - 0.06%
 
Railroad Equipment - - - 0.03%
 
Commercial Vehicle-Equipment Leasing - - - 0.00%
 
Trucking - - - 0.00%
 
Electronic & Electrical Equipment - - 1.78% -
 
Electrical Components - - - 1.43%
 
Electronic Equipment: Control & Filter - - - 0.29%
 
Electronic Equipment: Gauges & Meters - - - 0.07%
 
Electronic Equipment: Other - - - 0.00%
 
Industrial Engineering - - 1.58% -
 
Machinery: Construction & Handling - - - 0.62%
 
Machinery: Industrial - - - 0.62%
 
Machinery: Specialty - - - 0.17%
 
Machinery: Engines - - - 0.11%
 
Machinery: Tools - - - 0.06%
 
Machinery: Agricultural - - - 0.00%
 
Aerospace & Defence - - 0.29% -
 
Defense - - - 0.22%
 
Aerospace - - - 0.06%
 
Construction & Materials - 0.73% - -
 
Construction & Materials - - 0.73% -
 
Building Materials: Other - - - 0.21%
 
Construction - - - 0.14%
 
Cement - - - 0.14%
 
Engineering & Contracting Services - - - 0.14%
 
Building, Roofing/Wallboard & Plumbing - - - 0.08%
 
Building: Climate Control - - - 0.03%
 
Technology 11.29% - - -
 
Technology - 11.29% - -
 
Software & Computer Services - - 6.99% -
 
Consumer Digital Services - - - 3.33%
 
Software - - - 3.10%
 
Computer Services - - - 0.56%
 
Technology Hardware & Equipment - - 4.30% -
 
Semiconductors - - - 2.95%
 
Computer Hardware - - - 0.46%
 
Electronic Components - - - 0.40%
 
Production Technology Equipment - - - 0.39%
 
Electronic Office Equipment - - - 0.10%
 
Alternative Trading Strategies 9.77% - - -
 
Alternative Trading Strategies - 9.77% - -
 
Alternative Trading Strategies - - 9.77% -
 
Alternative Trading Strategies - - - 9.77%
 
Consumer Discretionary 9.53% - - -
 
Consumer Products & Services - 2.68% - -
 
Leisure Goods - - 1.07% -
 
Consumer Electronics - - - 0.39%
 
Toys - - - 0.26%
 
Photography - - - 0.15%
 
Recreational Vehicles & Boats - - - 0.14%
 
Recreational Products - - - 0.07%
 
Electronic Entertainment - - - 0.05%
 
Personal Goods - - 0.77% -
 
Clothing & Accessories - - - 0.43%
 
Luxury Items - - - 0.26%
 
Cosmetics - - - 0.05%
 
Footwear - - - 0.03%
 
Consumer Services - - 0.64% -
 
Consumer Services: Misc. - - - 0.39%
 
Rental & Leasing Services: Consumer - - - 0.13%
 
Vending & Catering Service - - - 0.09%
 
Education Services - - - 0.02%
 
Funeral Parlors & Cemetery - - - 0.00%
 
Printing and Copying Services - - - 0.00%
 
Household Goods & Home Construction - - 0.20% -
 
Home Construction - - - 0.19%
 
Household Appliance - - - 0.01%
 
Household Furnishings - - - 0.00%
 
Household Equipment & Products - - - 0.00%
 
Retail - 2.54% - -
 
Retailers - - 2.54% -
 
Specialty Retailers - - - 1.21%
 
Diversified Retailers - - - 0.94%
 
Home Improvement Retailers - - - 0.24%
 
Apparel Retailers - - - 0.14%
 
Automobiles & Parts - 2.31% - -
 
Automobiles & Parts - - 2.31% -
 
Automobiles - - - 1.66%
 
Auto Parts - - - 0.57%
 
Tires - - - 0.09%
 
Auto Services - - - 0.00%
 
Media - 1.21% - -
 
Media - - 1.21% -
 
Entertainment - - - 0.44%
 
Publishing - - - 0.35%
 
Radio & TV Broadcasters - - - 0.32%
 
Media Agencies - - - 0.10%
 
Travel & Leisure - 0.80% - -
 
Travel & Leisure - - 0.80% -
 
Airlines - - - 0.25%
 
Hotels & Motels - - - 0.16%
 
Casinos & Gambling - - - 0.14%
 
Travel & Tourism - - - 0.14%
 
Recreational Services - - - 0.10%
 
Restaurants & Bars - - - 0.02%
 
Non-Classified 8.59% - - -
 
Non-Classified - 1.02% - -
 
Non-Classified - - 1.02% -
 
Non-Classified - - - 1.02%
 
Health Care 7.43% - - -
 
Health Care - 7.43% - -
 
Pharmaceuticals & Biotechnology - - 5.30% -
 
Pharmaceuticals - - - 4.92%
 
Biotechnology - - - 0.38%
 
Health Care Providers - - 1.10% -
 
Health Care Management Services - - - 0.93%
 
Health Care Services - - - 0.14%
 
Health Care Facilities - - - 0.03%
 
Health Care: Misc. - - - 0.00%
 
Medical Equipment & Services - - 1.03% -
 
Medical Equipment - - - 0.66%
 
Medical Supplies - - - 0.30%
 
Medical Services - - - 0.07%
 
Consumer Staples 5.00% - - -
 
Personal Care, Drug & Grocery Stores - 2.99% - -
 
Personal Care, Drug & Grocery Stores - - 2.99% -
 
Food Retailers & Wholesalers - - - 1.18%
 
Personal Products - - - 1.09%
 
Nondurable Household Products - - - 0.66%
 
Drug Retailers - - - 0.06%
 
Food, Beverage & Tobacco - 2.01% - -
 
Food Producers - - 1.01% -
 
Food Products - - - 0.99%
 
Farming, Fishing, Ranching & Plantations - - - 0.02%
 
Fruit & Grain Processing - - - 0.00%
 
Sugar - - - 0.00%
 
Beverages - - 0.73% -
 
Soft Drinks - - - 0.30%
 
Distillers & Vintners - - - 0.24%
 
Brewers - - - 0.19%
 
Tobacco - - 0.27% -
 
Tobacco - - - 0.27%
 
Telecommunications 3.10% - - -
 
Telecommunications - 3.10% - -
 
Telecommunications Equipment - - 1.72% -
 
Telecommunications Equipment - - - 1.72%
 
Telecommunications Service Providers - - 1.38% -
 
Telecommunications Services - - - 1.13%
 
Cable Television Services - - - 0.25%
 
Energy 3.09% - - -
 
Energy - 3.09% - -
 
Non-Renewable Energy - - 2.79% -
 
Integrated Oil & Gas - - - 1.14%
 
Oil: Crude Producers - - - 0.53%
 
Pipelines - - - 0.35%
 
Oil Refining and Marketing - - - 0.28%
 
Oil Equipment & Services - - - 0.26%
 
Offshore Drilling & Other Services - - - 0.20%
 
Coal - - - 0.03%
 
Renewable Energy - - 0.30% -
 
Alternative Fuels - - - 0.18%
 
Renewable Energy Equipment - - - 0.12%
 
Basic Materials 3.06% - - -
 
Basic Resources - 1.57% - -
 
Industrial Metals & Mining - - 1.31% -
 
General Mining - - - 0.65%
 
Iron & Steel - - - 0.36%
 
Nonferrous Metals - - - 0.22%
 
Copper - - - 0.07%
 
Aluminum - - - 0.01%
 
Metal Fabricating - - - 0.00%
 
Precious Metals & Mining - - 0.14% -
 
Gold Mining - - - 0.14%
 
Platinum & Precious Metals - - - 0.00%
 
Diamonds & Gemstones - - - 0.00%
 
Industrial Materials - - 0.11% -
 
Paper - - - 0.11%
 
Diversified Materials - - - 0.00%
 
Textile Products - - - 0.00%
 
Forestry - - - 0.00%
 
Chemicals - 1.49% - -
 
Chemicals - - 1.49% -
 
Chemicals: Diversified - - - 0.71%
 
Specialty Chemicals - - - 0.52%
 
Chemicals & Synthetic Fibers - - - 0.19%
 
Fertilizers - - - 0.08%
 
Real Estate 2.24% - - -
 
Real Estate - 2.24% - -
 
Real Estate Investment Trusts - - 1.26% -
 
Industrial REITs - - - 0.26%
 
Diversified REITs - - - 0.22%
 
Infrastructure REITs - - - 0.21%
 
Office REITs - - - 0.18%
 
Other Specialty REITs - - - 0.15%
 
Retail REITs - - - 0.10%
 
Timber REITs - - - 0.08%
 
Residential REITs - - - 0.05%
 
Real Estate Investment & Services - - 0.98% -
 
Real Estate Holding and Development - - - 0.76%
 
Real Estate Services - - - 0.22%
 
Utilities 1.90% - - -
 
Utilities - 1.90% - -
 
Electricity - - 1.33% -
 
Conventional Electricity - - - 0.71%
 
Alternative Electricity - - - 0.62%
 
Gas, Water & Multi-utilities - - 0.54% -
 
Multi-Utilities - - - 0.45%
 
Water - - - 0.08%
 
Gas Distribution - - - 0.02%
 
Waste & Disposal Services - - 0.03% -
 
Waste & Disposal Services - - - 0.03%
 
Cash and Equivalents -4.15% - - -

Regional Allocation

pie chart
  North America 27.18%
  UK 20.42%
  Non-Classified 18.72%
  Developed Europe - Excl UK 13.90%
  Japan 8.89%
  Emerging Asia 8.65%
  Developed Asia 2.86%
  South & Central America 1.16%
  Australia & New Zealand 0.91%
  Other Regions -2.70%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 92.46%
  Pound Sterling 7.62%
  US Dollar 5.33%
  Rand 0.23%
  Brazilian Real 0.18%
  Mexican Peso 0.15%
  Other Currencies -5.96%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 27.18% -
 
United States - 25.96%
 
Canada - 1.22%
 
Bermuda - 0.00%
 
UK 20.42% -
 
United Kingdom - 20.21%
 
Jersey - 0.18%
 
Guernsey - 0.04%
 
Non-Classified 18.72% -
 
Developed Europe - Excl UK 13.90% -
 
Germany - 2.83%
 
Denmark - 2.65%
 
France - 2.23%
 
Ireland - 2.09%
 
Netherlands - 1.30%
 
Switzerland - 1.17%
 
Spain - 0.42%
 
Austria - 0.38%
 
Luxembourg - 0.22%
 
Sweden - 0.18%
 
Finland - 0.16%
 
Belgium - 0.15%
 
Norway - 0.08%
 
Italy - 0.04%
 
Iceland - 0.00%
 
Portugal - 0.00%
 
Japan 8.89% -
 
Japan - 8.89%
 
Emerging Asia 8.65% -
 
China - 3.21%
 
South Korea - 2.45%
 
Taiwan - 1.18%
 
India - 0.94%
 
Indonesia - 0.44%
 
Thailand - 0.30%
 
Philippines - 0.09%
 
Kazakhstan - 0.04%
 
Malaysia - 0.00%
 
Developed Asia 2.86% -
 
Hong Kong - 2.28%
 
Singapore - 0.59%
 
South & Central America 1.16% -
 
Brazil - 0.90%
 
Mexico - 0.15%
 
Colombia - 0.08%
 
Cayman Islands - 0.03%
 
Chile - 0.00%
 
Peru - 0.00%
 
Australia & New Zealand 0.91% -
 
Australia - 0.90%
 
New Zealand - 0.01%
 
Middle East & Africa 0.73% -
 
South Africa - 0.54%
 
Israel - 0.18%
 
Saudi Arabia - 0.00%
 
United Arab Emirates - 0.00%
 
Kuwait - 0.00%
 
Qatar - 0.00%
 
Egypt - 0.00%
 
Property 0.64% -
 
Emerging Europe 0.09% -
 
Romania - 0.09%
 
Greece - 0.00%
 
Turkey - 0.00%
 
Poland - 0.00%
 
Hungary - 0.00%
 
Czech Republic - 0.00%
 
Russian Federation - 0.00%
 
Cash and Equivalents -4.15% -

Breakdown By Market Cap (%)

Mega
 
 
29.03%
Large
 
 
12.48%
Medium
 
 
10.28%
Small
 
 
2.01%
Micro
 
 
0.36%
Non-Classified
 
 
36.21%
Bonds
 
 
13.78%
Cash
 
-4.15%

Top 10 Holdings

Stock % Weight Sector Country
1 UNITED KINGDOM OF GREAT BRITAIN AN 0% 09/09/2024 4.34% Bonds United Kingdom
2 4⅜% Treasury Gilt 2054 2.94% Bonds United Kingdom
3 MICROSOFT CORPORATION 1.21% Software & Computer Services United States
4 NOVO NORDISK A/S 1.20% Pharmaceuticals & Biotechnology Denmark
5 UNITED STATES TREASURY 0% 16/05/2024 1.20% Non-Classified Non-Classified
6 UNITED STATES TREASURY 0% 25/04/2024 1.09% Non-Classified Non-Classified
7 UNITED STATES TREASURY 0% 04/04/2024 0.99% Non-Classified Non-Classified
8 UNITED STATES TREASURY 0% 13/06/2024 0.98% Bonds United States
9 TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 0.96% Technology Hardware & Equipment Taiwan
10 UNILEVER 0.95% 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 0.40% 10.89% - - - - - - 11.29%
Telecommunications 0.06% 3.04% - 0.08% - - - - 3.18%
Financials 2.38% 10.44% - - - - 0.02% - 12.85%
Real Estate 0.06% 1.44% - - - 0.74% - - 2.24%
Consumer Discretionary 1.97% 7.56% - - - - 0.01% - 9.54%
Consumer Staples 2.48% 2.52% - - - - - - 5.00%
Energy 0.86% 2.22% - - - - - - 3.09%
Utilities 0.43% 1.48% - - - - - - 1.90%
Health Care 1.80% 5.64% - - - - - - 7.43%
Industrials 1.97% 10.56% - - - - - - 12.53%
Basic Materials 0.32% 2.74% - - - - - - 3.06%
Cash and Equivalents - - - - - - - -4.24% -4.24%
Bonds - - 4.54% 6.21% 2.95% - - - 13.70%
Non-Classified - 0.11% - - - - 18.24% 0.08% 18.44%

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 B00HWM6
Mex Code SBPNMN
Isin Code IE00B00HWM65
Citi Code QV63

Fund Charges

Annual Management Charge (AMC) 1.30%
Further Costs 0.01%
Yearly Total 1.31%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the M&G Managed Growth Fund - the underlying fund. Underlying Fund Objective: The fund aims to provide a higher total return (the combination of capital growth and income) net of the Ongoing Charge Figure, than the average return of the IA Flexible Investment Sector over any five-year period. It is a multi-asset fund that invests at least 70% of its assets in other collective investment schemes in order to gain exposure to assets from anywhere in the world, including equities, fixed income, convertibles, cash, or near cash. The fund may also invest directly in these assets. In aggregate, the fund will invest at least 70% of its assets in equities, either directly or via collective investment schemes. Derivatives may be used for investment purposes, efficient portfolio management and hedging.
Benchmark IA Flexible Investment Sector
Sector OI Flexible Investment

Ratings

FE Crown Crown Rating of 5

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 Fitzwilliam Court, Leeson Cl, Dublin 2, D02 TC95. 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 authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. 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.