Prudential North America 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

31/03/19
to
31/03/20
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
Fund -3.9% 42.1% 19.9% -2.3% 25.4%
Benchmark -2.8% 42.8% 19.7% -2.5% 26.8%

Performance - to latest available quarter end

Quarter Annualised
1
2024
3 Years to
31/03/24
5 Years to
31/03/24
10 Years to
31/03/24
Fund 11.0% 13.7% 14.9% 15.4%
Benchmark 11.1% 13.9% 15.5% 15.6%

Top 10 Holdings

Stock % Weight
CME S&P EMI FUT Jun24 27.09
MICROSOFT CORPORATION 7.00
APPLE 5.94
NVIDIA CORP 5.38
AMAZON.COM 3.40
ALPHABET INC 2.83
META PLATFORMS 2.07
MASTERCARD INCORPORATED 1.74
JOHNSON & JOHNSON 1.67
ALPHABET INC 1.67
Total 58.78

Fund Aims

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

Underlying fund objective: The fund aims to have similar risk-return characteristics as the FTSE North America Index. The fund gains its exposure via the M&G (ACS) BlackRock US Equity Fund and the M&G (ACS) BlackRock Canada Equity Fund. The underlying funds aim to be fully invested in the equity securities and equity related securities of companies that are constituents of the S&P 500 Index and the FTSE Canada Index respectively.

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 maximise the fund's ESG characteristics 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.

Performance Objective: The funds aim to provide a total return (i.e. capital growth plus income),gross of the Ongoing Charges Figure, over any three year period.

Fund Manager

Richard O'Connor manager of the underlying fund for 18 years and 10 months

Photo of Richard O'Connor Richard O’Connor joined Prudential Group in July 2002 and is an index fund manager with responsibility for some 15 funds. He is also fund manager of the M&G Global Real Estate Securities Fund. He joined the business from Goldman Sachs where he worked as a consultant to the fixed income derivatives department. Prior to this, he was with Standard Corporate & Merchant Bank Asset Management (South Africa) in a research analyst role, which he held for more than three years. Richard graduated with an honours degree in investment management from Rand Afrikaans University and a bachelor of commerce degree from the University of Natal.

Fund Overview

Daily price (23/05/2024) 987.30
Fund size (30/04/2024) £43.12m
Underlying Fund size £43.23m
Number of holdings 214
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 96.20%
  Cash and Equivalents 1.51%
  Property 1.18%
  Other Assets 1.11%

Commentary

Performance as at Q1 2024 - US equities kicked off the year with a robust rally in the first quarter and outperformed the global market. The S&P 500 Index repeatedly hit record highs as share prices continued their upward momentum from the end of last year. The positive investor sentiment was supported by optimism about the US economy, which expanded at an annual rate of 3.4% in the fourth quarter of 2023, and the prospect of interest rate cuts. Continued excitement about artificial intelligence (AI) also drove the market gains. Information technology stocks were among the best performers, with shares in chip maker Nvidia rising more than 80% over the first three months of the year. The market rally broadened beyond the technology sector, however, as energy and financials also outperformed the wider market. In contrast, consumer discretionary, real estate and utilities were notable laggards. Canada’s stockmarket also made a positive start to the year.

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 96.20%
  Cash and Equivalents 1.51%
  Property 1.18%
  Other Assets 1.11%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Technology 32.24% - - -
 
Technology - 32.24% - -
 
Software & Computer Services - - 16.69% -
 
Software - - - 9.25%
 
Consumer Digital Services - - - 6.82%
 
Computer Services - - - 0.62%
 
Technology Hardware & Equipment - - 15.55% -
 
Semiconductors - - - 7.98%
 
Computer Hardware - - - 6.05%
 
Production Technology Equipment - - - 1.47%
 
Electronic Components - - - 0.05%
 
Consumer Discretionary 12.91% - - -
 
Retail - 7.62% - -
 
Retailers - - 7.62% -
 
Diversified Retailers - - - 5.44%
 
Apparel Retailers - - - 1.15%
 
Specialty Retailers - - - 1.03%
 
Travel & Leisure - 1.85% - -
 
Travel & Leisure - - 1.85% -
 
Restaurants & Bars - - - 1.57%
 
Travel & Tourism - - - 0.28%
 
Automobiles & Parts - 1.37% - -
 
Automobiles & Parts - - 1.37% -
 
Automobiles - - - 1.33%
 
Auto Parts - - - 0.04%
 
Consumer Products & Services - 1.06% - -
 
Personal Goods - - 0.59% -
 
Clothing & Accessories - - - 0.52%
 
Cosmetics - - - 0.05%
 
Footwear - - - 0.02%
 
Consumer Services - - 0.47% -
 
Consumer Services: Misc. - - - 0.47%
 
Media - 1.00% - -
 
Media - - 1.00% -
 
Entertainment - - - 0.55%
 
Media Agencies - - - 0.45%
 
Industrials 12.76% - - -
 
Industrial Goods & Services - 11.99% - -
 
Industrial Support Services - - 5.41% -
 
Transaction Processing Services - - - 2.97%
 
Professional Business Support Services - - - 2.43%
 
Industrial Engineering - - 1.85% -
 
Machinery: Engines - - - 0.61%
 
Machinery: Industrial - - - 0.58%
 
Machinery: Tools - - - 0.49%
 
Machinery: Construction & Handling - - - 0.17%
 
Industrial Transportation - - 1.33% -
 
Railroads - - - 0.85%
 
Delivery Services - - - 0.36%
 
Trucking - - - 0.12%
 
General Industrials - - 1.22% -
 
Diversified Industrials - - - 0.86%
 
Paints & Coatings - - - 0.36%
 
Aerospace & Defence - - 1.13% -
 
Aerospace - - - 1.13%
 
Electronic & Electrical Equipment - - 1.06% -
 
Electronic Equipment: Pollution Control - - - 1.02%
 
Electronic Equipment: Control & Filter - - - 0.04%
 
Construction & Materials - 0.77% - -
 
Construction & Materials - - 0.77% -
 
Building: Climate Control - - - 0.77%
 
Financials 11.29% - - -
 
Financial Services - 4.61% - -
 
Investment Banking & Brokerage Services - - 2.43% -
 
Investment Services - - - 1.34%
 
Diversified Financial Services - - - 0.71%
 
Asset Managers & Custodians - - - 0.38%
 
Finance & Credit Services - - 2.18% -
 
Financial Data & Systems - - - 2.18%
 
Banks - 4.21% - -
 
Banks - - 4.21% -
 
Banks - - - 4.21%
 
Insurance - 2.47% - -
 
Non-life Insurance - - 1.79% -
 
Insurance Brokers - - - 0.94%
 
Property & Casualty Insurance - - - 0.56%
 
Full Line Insurance - - - 0.29%
 
Life Insurance - - 0.68% -
 
Life Insurance - - - 0.68%
 
Health Care 10.87% - - -
 
Health Care - 10.87% - -
 
Pharmaceuticals & Biotechnology - - 5.56% -
 
Pharmaceuticals - - - 5.10%
 
Biotechnology - - - 0.45%
 
Medical Equipment & Services - - 3.75% -
 
Medical Equipment - - - 3.41%
 
Medical Supplies - - - 0.34%
 
Health Care Providers - - 1.56% -
 
Health Care Management Services - - - 1.56%
 
Energy 4.67% - - -
 
Energy - 4.67% - -
 
Non-Renewable Energy - - 4.66% -
 
Oil: Crude Producers - - - 1.73%
 
Integrated Oil & Gas - - - 1.71%
 
Oil Equipment & Services - - - 0.70%
 
Pipelines - - - 0.42%
 
Oil Refining and Marketing - - - 0.11%
 
Renewable Energy - - 0.00% -
 
Alternative Fuels - - - 0.00%
 
Consumer Staples 3.91% - - -
 
Food, Beverage & Tobacco - 2.40% - -
 
Beverages - - 1.47% -
 
Soft Drinks - - - 1.47%
 
Food Producers - - 0.93% -
 
Food Products - - - 0.93%
 
Personal Care, Drug & Grocery Stores - 1.51% - -
 
Personal Care, Drug & Grocery Stores - - 1.51% -
 
Personal Products - - - 1.16%
 
Drug Retailers - - - 0.19%
 
Food Retailers & Wholesalers - - - 0.14%
 
Nondurable Household Products - - - 0.02%
 
Utilities 2.43% - - -
 
Utilities - 2.43% - -
 
Electricity - - 1.64% -
 
Conventional Electricity - - - 1.64%
 
Gas, Water & Multi-utilities - - 0.72% -
 
Multi-Utilities - - - 0.72%
 
Waste & Disposal Services - - 0.07% -
 
Waste & Disposal Services - - - 0.07%
 
Basic Materials 2.38% - - -
 
Chemicals - 1.67% - -
 
Chemicals - - 1.67% -
 
Chemicals: Diversified - - - 1.11%
 
Specialty Chemicals - - - 0.44%
 
Fertilizers - - - 0.11%
 
Basic Resources - 0.71% - -
 
Precious Metals & Mining - - 0.43% -
 
Gold Mining - - - 0.43%
 
Industrial Materials - - 0.22% -
 
Diversified Materials - - - 0.22%
 
Industrial Metals & Mining - - 0.07% -
 
General Mining - - - 0.07%
 
Telecommunications 2.02% - - -
 
Telecommunications - 2.02% - -
 
Telecommunications Service Providers - - 1.05% -
 
Telecommunications Services - - - 1.05%
 
Telecommunications Equipment - - 0.98% -
 
Telecommunications Equipment - - - 0.98%
 
Real Estate 1.91% - - -
 
Real Estate - 1.91% - -
 
Real Estate Investment Trusts - - 1.91% -
 
Industrial REITs - - - 0.83%
 
Timber REITs - - - 0.72%
 
Health Care REITs - - - 0.29%
 
Hotel & Lodging REITs - - - 0.06%
 
Office REITs - - - 0.01%
 
Cash and Equivalents 1.51% - - -
 
Non-Classified 1.11% - - -
 
Alternative Trading Strategies 0.00% - - -
 
Alternative Trading Strategies - 0.00% - -
 
Alternative Trading Strategies - - 0.00% -
 
Alternative Trading Strategies - - - 0.00%

Regional Allocation

pie chart
  North America 91.98%
  Developed Europe - Excl UK 4.13%
  Cash and Equivalents 1.51%
  Property 1.18%
  Non-Classified 1.11%
  Australia & New Zealand 0.09%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 99.38%
  Cash 0.39%
  US Dollar 0.23%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 91.98% -
 
United States - 87.18%
 
Canada - 4.80%
 
Developed Europe - Excl UK 4.13% -
 
Ireland - 3.55%
 
Switzerland - 0.43%
 
Netherlands - 0.15%
 
Cash and Equivalents 1.51% -
 
Property 1.18% -
 
Non-Classified 1.11% -
 
Australia & New Zealand 0.09% -
 
New Caledonia - 0.09%

Breakdown By Market Cap (%)

Mega
 
 
78.43%
Large
 
 
12.99%
Medium
 
 
1.58%
Small
 
 
0.02%
Non-Classified
 
 
5.48%
Cash
 
 
1.51%

Top 10 Holdings

Stock % Weight Sector Country
1 CME S&P EMI FUT Jun24 27.09% Non-Classified Non-Classified
2 MICROSOFT CORPORATION 7.00% Software & Computer Services United States
3 APPLE 5.94% Technology Hardware & Equipment United States
4 NVIDIA CORP 5.38% Technology Hardware & Equipment United States
5 AMAZON.COM 3.40% Retailers United States
6 ALPHABET INC 2.83% Software & Computer Services United States
7 META PLATFORMS 2.07% Software & Computer Services United States
8 MASTERCARD INCORPORATED 1.74% Industrial Support Services United States
9 JOHNSON & JOHNSON 1.67% Pharmaceuticals & Biotechnology United States
10 ALPHABET INC 1.67% Software & Computer Services United States

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 32.24% - - - - - - 32.24%
Telecommunications - 2.02% - - - - - - 2.02%
Financials - 11.29% - - - - - - 11.29%
Real Estate - 0.73% - - - 1.18% - - 1.91%
Consumer Discretionary - 12.91% - - - - - - 12.91%
Consumer Staples - 3.91% - - - - - - 3.91%
Energy - 4.67% - - - - - - 4.67%
Utilities - 2.43% - - - - - - 2.43%
Health Care - 10.87% - - - - - - 10.87%
Industrials - 12.76% - - - - - - 12.76%
Basic Materials - 2.38% - - - - - - 2.38%
Cash and Equivalents - - - - - - - 1.51% 1.51%
Non-Classified - - - - - - 1.11% - 1.11%

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 3424812
Mex Code PUYOU
Isin Code GB0034248129
Citi Code P546

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 North America Equity Index Fund - the underlying fund. Underlying fund objective: The fund aims to have similar risk-return characteristics as the FTSE North America Index. The fund gains its exposure via the M&G (ACS) BlackRock US Equity Fund and the M&G (ACS) BlackRock Canada Equity Fund. The underlying funds aim to be fully invested in the equity securities and equity related securities of companies that are constituents of the S&P 500 Index and the FTSE Canada Index respectively. 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 maximise the fund's ESG characteristics 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. Performance Objective: The funds aim to provide a total return (i.e. capital growth plus income),gross of the Ongoing Charges Figure, over any three year period.
Benchmark FTSE World North America Index
Sector ABI North America 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.