Prudential Discretionary 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

30/06/17
to
30/06/18
30/06/18
to
30/06/19
30/06/19
to
30/06/20
30/06/20
to
30/06/21
30/06/21
to
30/06/22
Fund 6.5% 4.1% -3.5% 20.3% -6.3%
Benchmark 6.3% 4.8% 0.2% 15.5% -4.0%

Performance - to latest available quarter end

Quarter Annualised
2
2022
3 Years to
30/06/22
5 Years to
30/06/22
10 Years to
30/06/22
Fund -7.5% 2.8% 3.8% 7.8%
Benchmark -5.4% 3.6% 4.4% 7.6%

Top 10 Holdings

Stock % Weight
ASTRAZENECA 1.63
Segro Segro Ord GBP0.1 1.52
HSBC HOLDINGS 1.38
BP 1.15
UNILEVER 1.04
TAIWAN SEMICONDUCTOR MANUFACTURING CO. 0.93
SHELL 0.86
GSK GBP ORD 0.85
EURO-BOBL SEP 22 EUR Notional Cash Offset 0.84
SAMSUNG ELECTRONICS CO. LTD 0.73
Total 10.94

Fund Aims

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

Underlying Fund Objective: The fund provides a multi-asset approach to investment, holding a mix of UK and overseas company shares, bonds, property, cash plus listed alternative assets primarily through other M&G funds or direct holdings. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management.

Performance Objective: To outperform the internal composite benchmark by 1.15%-1.40% a year (before charges) on a rolling three year basis.

Fund Manager

M&G Treasury & Investment Office manager of the underlying fund for 39 years and 4 months

Photo of M&G Treasury & Investment Office With access to investment professionals around the world and assets under management of £178bn, the M&G Treasury & Investment Office (T&IO) has a broad and well-resourced investment capability. T&IO set the strategic asset allocation and undertakes the ‘manager of managers’ role for our insured funds. Over the years they have built a thorough and effective governance framework, which includes the setting and monitoring of investment mandates, regular performance and activity health checks and independent analysis of investment, credit and liquidity risks.

Fund Overview

Daily price (15/08/2022) 412.40
Fund size (30/06/2022) £415.12m
Underlying Fund size £0.00m
Number of holdings 7357
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 06/04/2001

Asset Allocation

pie chart
  International Equities 35.13%
  UK Equities 25.14%
  International Bonds 15.77%
  Cash and Equivalents 6.59%
  Property 6.21%
  UK Corporate Bonds 3.43%
  Investment Trusts 3.13%
  UK Gilts 0.53%
  Alternative Trading Strategies 0.13%
  Other Assets 3.93%

Commentary

Performance as at Q1 2022 - In a challenging first quarter, both equity and fixed income assets experienced negative returns as a rapid rise in yields and the Ukraine conflict caused investors to reassess the outlook they had at the end of 2021. The rise in yields was in response to the increasingly hawkish rhetoric emanating from central banks, which accepted that inflation would be high for longer than they had expected. This, combined with a stronger US dollar, caused fixed income assets to produce one of the worst returns in recent history, even underperforming historically more volatile equities.

The fund fell over the quarter and was behind the benchmark and ahead of the comparator. Equities were negative overall, although the UK was roughly flat thanks to its exposure to commodities, which saw rising prices largely due to the hostilities in Ukraine. Europe and emerging markets were the weakest markets, owing to their proximity to the conflict as well as COVID-19-related lockdowns. Japan, Pacific markets and the US stockmarkets also declined, all in sterling terms.

The fund's relative performance was supported by stock selection in most markets, led by stock picks in emerging markets, Europe, Pacific markets, and more modestly Japan and the US, while selection in the UK held back relative returns.

In terms of fixed income, emerging market bonds were the bottom of the pack, followed by Europe (including the UK), Asia and global high yield bonds. In other assets, UK commercial property experienced robust gains in the quarter. Alternative investments continued to offer diversification to portfolios over the period.

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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 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 35.13%
  UK Equities 25.14%
  International Bonds 15.77%
  Cash and Equivalents 6.59%
  Property 6.21%
  UK Corporate Bonds 3.43%
  Investment Trusts 3.13%
  UK Gilts 0.53%
  Alternative Trading Strategies 0.13%
  Other Assets 3.93%

Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 19.74% - - -
 
Financials 14.65% - - -
 
Financial Services - 6.18% - -
 
Equity Investment Instruments - - 3.13% -
 
Equity Investment Instruments - - - 3.13%
 
Investment Banking & Brokerage Services - - 2.21% -
 
Asset Managers & Custodians - - - 1.21%
 
Investment Services - - - 0.65%
 
Diversified Financial Services - - - 0.35%
 
Finance & Credit Services - - 0.84% -
 
Financial Data & Systems - - - 0.47%
 
Mortgage Finance - - - 0.36%
 
Consumer Lending - - - 0.01%
 
Banks - 5.90% - -
 
Banks - - 5.90% -
 
Banks - - - 5.90%
 
Insurance - 2.57% - -
 
Non-life Insurance - - 1.35% -
 
Property & Casualty Insurance - - - 0.74%
 
Full Line Insurance - - - 0.46%
 
Reinsurance - - - 0.11%
 
Insurance Brokers - - - 0.04%
 
Life Insurance - - 1.21% -
 
Life Insurance - - - 1.21%
 
Real Estate 9.44% - - -
 
Real Estate - 9.44% - -
 
Real Estate Investment Trusts - - 8.15% -
 
Diversified REITs - - - 2.41%
 
Industrial REITs - - - 1.71%
 
Residential REITs - - - 0.95%
 
Office REITs - - - 0.90%
 
Health Care REITs - - - 0.62%
 
Storage REITs - - - 0.57%
 
Retail REITs - - - 0.50%
 
Other Specialty REITs - - - 0.46%
 
Infrastructure REITs - - - 0.03%
 
Hotel & Lodging REITs - - - 0.00%
 
Real Estate Investment & Services - - 1.28% -
 
Real Estate Holding and Development - - - 1.15%
 
Real Estate Services - - - 0.13%
 
Industrials 8.08% - - -
 
Industrial Goods & Services - 7.04% - -
 
Industrial Support Services - - 1.96% -
 
Professional Business Support Services - - - 0.93%
 
Transaction Processing Services - - - 0.47%
 
Business Training & Employment Agencies - - - 0.29%
 
Industrial Suppliers - - - 0.24%
 
Security Services - - - 0.03%
 
Forms & Bulk Printing Services - - - 0.00%
 
Industrial Transportation - - 1.48% -
 
Marine Transportation - - - 0.33%
 
Railroads - - - 0.28%
 
Transportation Services - - - 0.27%
 
Commercial Vehicle-Equipment Leasing - - - 0.21%
 
Delivery Services - - - 0.18%
 
Commercial Vehicles & Parts - - - 0.12%
 
Railroad Equipment - - - 0.05%
 
Trucking - - - 0.04%
 
General Industrials - - 1.42% -
 
Diversified Industrials - - - 0.91%
 
Containers & Packaging - - - 0.38%
 
Plastics - - - 0.06%
 
Paints & Coatings - - - 0.04%
 
Glass - - - 0.02%
 
Electronic & Electrical Equipment - - 0.92% -
 
Electronic Equipment: Control & Filter - - - 0.31%
 
Electrical Components - - - 0.28%
 
Electronic Equipment: Gauges & Meters - - - 0.26%
 
Electronic Equipment: Pollution Control - - - 0.07%
 
Electronic Equipment: Other - - - 0.01%
 
Industrial Engineering - - 0.73% -
 
Machinery: Construction & Handling - - - 0.25%
 
Machinery: Industrial - - - 0.23%
 
Machinery: Engines - - - 0.11%
 
Machinery: Tools - - - 0.10%
 
Machinery: Agricultural - - - 0.04%
 
Machinery: Specialty - - - 0.00%
 
Aerospace & Defence - - 0.53% -
 
Aerospace - - - 0.29%
 
Defense - - - 0.24%
 
Construction & Materials - 1.04% - -
 
Construction & Materials - - 1.04% -
 
Construction - - - 0.34%
 
Building Materials: Other - - - 0.20%
 
Cement - - - 0.18%
 
Engineering & Contracting Services - - - 0.13%
 
Building, Roofing/Wallboard & Plumbing - - - 0.12%
 
Building: Climate Control - - - 0.07%
 
Technology 7.71% - - -
 
Technology - 7.71% - -
 
Technology Hardware & Equipment - - 4.60% -
 
Semiconductors - - - 2.09%
 
Computer Hardware - - - 1.63%
 
Electronic Components - - - 0.52%
 
Production Technology Equipment - - - 0.35%
 
Electronic Office Equipment - - - 0.02%
 
Software & Computer Services - - 3.11% -
 
Software - - - 1.38%
 
Consumer Digital Services - - - 1.36%
 
Computer Services - - - 0.37%
 
Consumer Discretionary 7.52% - - -
 
Consumer Products & Services - 2.38% - -
 
Personal Goods - - 0.74% -
 
Clothing & Accessories - - - 0.39%
 
Cosmetics - - - 0.15%
 
Luxury Items - - - 0.11%
 
Footwear - - - 0.10%
 
Leisure Goods - - 0.65% -
 
Consumer Electronics - - - 0.20%
 
Electronic Entertainment - - - 0.19%
 
Toys - - - 0.14%
 
Photography - - - 0.06%
 
Recreational Vehicles & Boats - - - 0.04%
 
Recreational Products - - - 0.02%
 
Household Goods & Home Construction - - 0.61% -
 
Home Construction - - - 0.54%
 
Household Equipment & Products - - - 0.03%
 
Household Appliance - - - 0.03%
 
Household Furnishings - - - 0.00%
 
Consumer Services - - 0.38% -
 
Vending & Catering Service - - - 0.32%
 
Consumer Services: Misc. - - - 0.05%
 
Education Services - - - 0.01%
 
Funeral Parlors & Cemetery - - - 0.00%
 
Retail - 1.55% - -
 
Retailers - - 1.55% -
 
Diversified Retailers - - - 0.97%
 
Home Improvement Retailers - - - 0.23%
 
Apparel Retailers - - - 0.20%
 
Specialty Retailers - - - 0.14%
 
Travel & Leisure - 1.35% - -
 
Travel & Leisure - - 1.35% -
 
Casinos & Gambling - - - 0.34%
 
Travel & Tourism - - - 0.33%
 
Restaurants & Bars - - - 0.29%
 
Hotels & Motels - - - 0.16%
 
Recreational Services - - - 0.11%
 
Airlines - - - 0.11%
 
Automobiles & Parts - 1.25% - -
 
Automobiles & Parts - - 1.25% -
 
Automobiles - - - 1.00%
 
Auto Parts - - - 0.24%
 
Tires - - - 0.01%
 
Media - 0.99% - -
 
Media - - 0.99% -
 
Publishing - - - 0.40%
 
Media Agencies - - - 0.34%
 
Radio & TV Broadcasters - - - 0.17%
 
Entertainment - - - 0.09%
 
Cash and Equivalents 6.37% - - -
 
Health Care 5.79% - - -
 
Health Care - 5.79% - -
 
Pharmaceuticals & Biotechnology - - 4.53% -
 
Pharmaceuticals - - - 3.94%
 
Biotechnology - - - 0.60%
 
Medical Equipment & Services - - 1.03% -
 
Medical Equipment - - - 0.73%
 
Medical Supplies - - - 0.28%
 
Medical Services - - - 0.01%
 
Health Care Providers - - 0.23% -
 
Health Care Management Services - - - 0.14%
 
Health Care Services - - - 0.04%
 
Health Care Facilities - - - 0.04%
 
Consumer Staples 5.40% - - -
 
Food, Beverage & Tobacco - 3.12% - -
 
Beverages - - 1.40% -
 
Distillers & Vintners - - - 0.72%
 
Soft Drinks - - - 0.44%
 
Brewers - - - 0.25%
 
Food Producers - - 1.16% -
 
Food Products - - - 1.08%
 
Farming, Fishing, Ranching & Plantations - - - 0.07%
 
Fruit & Grain Processing - - - 0.01%
 
Tobacco - - 0.55% -
 
Tobacco - - - 0.55%
 
Personal Care, Drug & Grocery Stores - 2.28% - -
 
Personal Care, Drug & Grocery Stores - - 2.28% -
 
Personal Products - - - 1.22%
 
Food Retailers & Wholesalers - - - 0.53%
 
Nondurable Household Products - - - 0.42%
 
Drug Retailers - - - 0.12%
 
Non-Classified 5.40% - - -
 
Non-Classified - 0.11% - -
 
Non-Classified - - 0.11% -
 
Non-Classified - - - 0.11%
 
Basic Materials 3.45% - - -
 
Basic Resources - 2.32% - -
 
Industrial Metals & Mining - - 2.08% -
 
General Mining - - - 1.59%
 
Iron & Steel - - - 0.22%
 
Copper - - - 0.18%
 
Nonferrous Metals - - - 0.05%
 
Metal Fabricating - - - 0.02%
 
Aluminum - - - 0.02%
 
Precious Metals & Mining - - 0.15% -
 
Gold Mining - - - 0.10%
 
Platinum & Precious Metals - - - 0.05%
 
Industrial Materials - - 0.09% -
 
Paper - - - 0.05%
 
Forestry - - - 0.02%
 
Textile Products - - - 0.01%
 
Diversified Materials - - - 0.01%
 
Chemicals - 1.13% - -
 
Chemicals - - 1.13% -
 
Chemicals: Diversified - - - 0.64%
 
Specialty Chemicals - - - 0.43%
 
Fertilizers - - - 0.05%
 
Chemicals & Synthetic Fibers - - - 0.02%
 
Energy 2.80% - - -
 
Energy - 2.80% - -
 
Non-Renewable Energy - - 2.63% -
 
Integrated Oil & Gas - - - 1.87%
 
Oil: Crude Producers - - - 0.38%
 
Oil Refining and Marketing - - - 0.23%
 
Oil Equipment & Services - - - 0.09%
 
Pipelines - - - 0.06%
 
Coal - - - 0.01%
 
Renewable Energy - - 0.16% -
 
Alternative Fuels - - - 0.09%
 
Renewable Energy Equipment - - - 0.07%
 
Utilities 1.82% - - -
 
Utilities - 1.82% - -
 
Electricity - - 0.95% -
 
Conventional Electricity - - - 0.80%
 
Alternative Electricity - - - 0.15%
 
Gas, Water & Multi-utilities - - 0.82% -
 
Multi-Utilities - - - 0.62%
 
Water - - - 0.17%
 
Gas Distribution - - - 0.04%
 
Waste & Disposal Services - - 0.05% -
 
Waste & Disposal Services - - - 0.05%
 
Telecommunications 1.71% - - -
 
Telecommunications - 1.71% - -
 
Telecommunications Service Providers - - 1.51% -
 
Telecommunications Services - - - 1.47%
 
Cable Television Services - - - 0.05%
 
Telecommunications Equipment - - 0.20% -
 
Telecommunications Equipment - - - 0.20%
 
Alternative Trading Strategies 0.13% - - -
 
Alternative Trading Strategies - 0.13% - -
 
Alternative Trading Strategies - - 0.13% -
 
Alternative Trading Strategies - - - 0.13%

Regional Allocation

pie chart
  UK 29.12%
  North America 16.87%
  Developed Europe - Excl UK 13.87%
  Emerging Asia 8.83%
  Non-Classified 7.91%
  Cash and Equivalents 6.49%
  Property 6.20%
  Japan 4.10%
  Developed Asia 2.84%
  Other Regions 3.76%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 73.83%
  US Dollar 8.38%
  Cash 6.43%
  Pound Sterling 5.08%
  Euro 3.00%
  Unrecognised 0.72%
  Other Currencies 2.53%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 29.12% -
 
United Kingdom - 29.12%
 
Jersey - 0.00%
 
North America 16.87% -
 
United States - 16.40%
 
Canada - 0.47%
 
Bermuda - 0.00%
 
Developed Europe - Excl UK 13.87% -
 
France - 2.74%
 
Germany - 2.16%
 
Switzerland - 2.04%
 
Netherlands - 1.82%
 
Ireland - 1.08%
 
Sweden - 0.65%
 
Italy - 0.64%
 
Spain - 0.64%
 
Denmark - 0.55%
 
Luxembourg - 0.50%
 
Finland - 0.30%
 
Belgium - 0.28%
 
Norway - 0.17%
 
Austria - 0.13%
 
Portugal - 0.12%
 
Iceland - 0.03%
 
Emerging Asia 8.83% -
 
South Korea - 2.69%
 
Taiwan - 1.98%
 
China - 0.97%
 
India - 0.80%
 
Indonesia - 0.71%
 
Thailand - 0.69%
 
Malaysia - 0.55%
 
Philippines - 0.33%
 
Pakistan - 0.04%
 
Uzbekistan - 0.02%
 
Mongolia - 0.01%
 
Viet Nam - 0.01%
 
Armenia - 0.01%
 
Sri Lanka - 0.01%
 
Kazakhstan - 0.01%
 
Azerbaijan - 0.01%
 
Georgia - 0.00%
 
Tajikistan - 0.00%
 
Macau - 0.00%
 
Papua New Guinea - 0.00%
 
Non-Classified 7.91% -
 
Cash and Equivalents 6.49% -
 
Property 6.20% -
 
Japan 4.10% -
 
Japan - 4.10%
 
Developed Asia 2.84% -
 
Hong Kong - 1.82%
 
Singapore - 1.03%
 
Australia & New Zealand 2.23% -
 
Australia - 2.17%
 
New Zealand - 0.07%
 
South & Central America 0.89% -
 
Mexico - 0.37%
 
Brazil - 0.36%
 
Chile - 0.03%
 
Colombia - 0.02%
 
Dominican Republic - 0.02%
 
Uruguay - 0.02%
 
Peru - 0.01%
 
Guatemala - 0.01%
 
Argentina - 0.01%
 
Paraguay - 0.01%
 
Honduras - 0.01%
 
Bolivia - 0.00%
 
Ecuador - 0.00%
 
Cayman Islands - 0.00%
 
Jamaica - 0.00%
 
Venezuela - 0.00%
 
El Salvador - 0.00%
 
Middle East & Africa 0.38% -
 
South Africa - 0.21%
 
Israel - 0.04%
 
Qatar - 0.01%
 
Morocco - 0.01%
 
Nigeria - 0.01%
 
Egypt - 0.01%
 
Gabon - 0.01%
 
Cote D'Ivoire - 0.01%
 
Zambia - 0.01%
 
Jordan - 0.01%
 
Oman - 0.01%
 
Senegal - 0.01%
 
Benin - 0.01%
 
United Arab Emirates - 0.00%
 
Iraq - 0.00%
 
Cameroon - 0.00%
 
Kenya - 0.00%
 
Rwanda - 0.00%
 
Ghana - 0.00%
 
Mozambique - 0.00%
 
Angola - 0.00%
 
Emerging Europe 0.26% -
 
Turkey - 0.09%
 
Poland - 0.05%
 
Czech Republic - 0.03%
 
Hungary - 0.02%
 
Greece - 0.02%
 
Serbia - 0.01%
 
Macedonia, The Former Yugoslav Republic Of - 0.01%
 
Romania - 0.01%
 
Ukraine - 0.01%
 
Bosnia and Herzegowina - 0.00%
 
Albania - 0.00%
 
Russian Federation - 0.00%
 
Australia & New Zealand 0.01% -

Breakdown By Market Cap (%)

Mega
 
 
33.20%
Large
 
 
14.37%
Medium
 
 
13.07%
Small
 
 
5.53%
Micro
 
 
0.78%
Non-Classified
 
 
6.95%
Bonds
 
 
19.74%
Cash
 
 
6.37%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
5.60%
5Yr - 10Yr Maturity
 
 
5.22%
10Yr - 15Yr Maturity
 
 
1.15%
> 15Yr Maturity
 
 
7.75%
Cash And Equivalents
 
 
6.37%
Unknown Maturity
 
 
4.17%
Other Asset Types
 
 
69.73%

Fixed Interest Quality Profile

AAA
 
 
1.86%
AA
 
 
1.21%
A
 
 
3.48%
BBB
 
 
5.31%
Sub-Investment Grade
 
 
2.56%
Unknown Quality
 
 
5.32%
Cash and Equivalents
 
 
6.37%
Other Asset Types
 
 
73.89%

Top 10 Fund Holdings

Name % Weight Sector Country
1 M&G PP UK Equity Fund 26.50% Managed Funds Managed Funds
2 M&G PP North America Equity 9.31% Managed Funds Managed Funds
3 M&G PP Europe Equity 9.26% Managed Funds Managed Funds
4 iShares iShares II plc UK Property UCITS ETF GBP (Dist) 7.74% Managed Funds Managed Funds
5 Eastspring US Corporate Bond Class EG (hedged) 6.38% Managed Funds Managed Funds
6 M&G PP Pacific Basin ex-Japan Equity 5.05% Managed Funds Managed Funds
7 M&G PP Pacific Basin ex-Japan Equity Passive Fund 4.88% Managed Funds Managed Funds
8 M&G PP Japan Equity 4.19% Managed Funds Managed Funds
9 M&G PP Total Return Credit Investment Class PP GBP 4.14% Managed Funds Managed Funds
10 M&G PP Long Dated Corporate Bond Fund 3.85% Managed Funds Managed Funds

Top 10 Holdings

Stock % Weight Sector Country
1 ASTRAZENECA 1.63% Pharmaceuticals & Biotechnology United Kingdom
2 Segro Segro Ord GBP0.1 1.52% Real Estate Investment Trusts Direct Property and REITs
3 HSBC HOLDINGS 1.38% Banks United Kingdom
4 BP 1.15% Non-Renewable Energy United Kingdom
5 UNILEVER 1.04% Personal Care, Drug & Grocery Stores United Kingdom
6 TAIWAN SEMICONDUCTOR MANUFACTURING CO. 0.93% Technology Hardware & Equipment Taiwan
7 SHELL 0.86% Non-Renewable Energy Non-Classified
8 GSK GBP ORD 0.85% Non-Classified United Kingdom
9 EURO-BOBL SEP 22 EUR Notional Cash Offset 0.84% Non-Classified Non-Classified
10 SAMSUNG ELECTRONICS CO. LTD 0.73% Technology Hardware & Equipment South Korea

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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).

Identification Codes

Sedol Code 3168574
Mex Code PUD
Isin Code GB0031685745
Citi Code P271

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 Discretionary Fund - the underlying fund. Underlying Fund Objective: The fund provides a multi-asset approach to investment, holding a mix of UK and overseas company shares, bonds, property, cash plus listed alternative assets primarily through other M&G funds or direct holdings. It is actively managed against an internal benchmark asset allocation set by the M&G Treasury & Investment Office. It is a "fund of funds" where both active stock selection, within the underlying sector funds, and asset allocation decisions are used to add value. Derivative instruments may be used for efficient portfolio management. Performance Objective: To outperform the internal composite benchmark by 1.15%-1.40% a year (before charges) on a rolling three year basis.
Benchmark Internal composite benchmark, asset allocation set by the M&G Treasury & Investment Office (T&IO).
ABI Sector Mixed Investment 40-85% Shares

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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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.

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

Medium Risk

These funds may invest in multi-asset strategies with a higher weighting in equities (or with significant derivative use), while funds investing mainly in property, high yield or government bonds (such as UK Gilts) are also in this category.

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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.

Please note the performance figures for this fund's benchmark are not available until around week 3 after a quarter end. So the figures shown until then might be for the previous quarter.

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 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.