Prudential BlackRock Aquila All Stocks Corporate Bond 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

30/06/16
to
30/06/17
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
Fund 4.9% 0.3% 6.8% 5.5% 2.4%
Benchmark 5.3% 0.6% 5.9% 6.4% 1.7%

Performance - to latest available quarter end

Quarter Annualised
2
2021
3 Years to
30/06/21
5 Years to
30/06/21
10 Years to
30/06/21
Fund 1.4% 4.9% 3.9% 5.8%
Benchmark 1.7% 4.7% 4.0% 5.7%

Top 10 Holdings

Stock % Weight
KFW BANKENGRUPPE MTN 6 12/07/2028 0.68
European Investment Bank 6% 2028 0.58
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.47
EUROPEAN INVESTMENT BANK MTN RegS 2.5 10/31/2022 0.38
ELECTRICITE DE FRANCE SA MTN RegS 6 01/23/2114 0.36
EUROPEAN INVESTMENT BANK 5 04/15/2039 0.36
EUROPEAN INVESTMENT BANK RegS 4.5 06/07/2029 0.36
KFW BANKENGRUPPE MTN 5.75 06/07/2032 0.35
KFW MTN RegS 1 12/15/2022 0.35
ELECTRICITE DE FRANCE SA MTN RegS 5.5 10/17/2041 0.35
Total 4.25

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the BlackRock Aquila Life Corporate Bond Index Fund All Stocks - the underlying fund.

Underlying Fund Objective: The fund invests in investment grade corporate bonds denominated in sterling and aims to achieve a return consistent with the iBoxx £ Non-Gilts Index. This index covers the broad spectrum of investment grade corporate bonds in issue.

Fund Manager

Team Managed manager of the underlying fund for 21 years and 4 months

Photo of Team Managed Team Managed

Fund Overview

Daily price (20/07/2021) 228.50
Fund size (31/05/2021) £6.49m
Underlying Fund size £1315.42m
Number of holdings 1715
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 15/07/2005

Asset Allocation

pie chart
  International Bonds 56.71%
  UK Corporate Bonds 43.20%
  Alternative Trading Strategies 0.10%
  Cash and Equivalents -0.35%
  Other Assets 0.33%

Performance comment

Performance as at Q1 2021 - Weekly new Covid infection rates across the UK remained subdued throughout March as the country’s vaccination rollout kept a swift pace. Over 31.1 million first doses were administered as of 31st March. As vaccination targets remained on track, the UK continued its gradual reopening of the UK’s economy. Stage 1 saw all pupils returned to school early in the month, paving the road for stage 2 to follow on 12th April.

Risk on sentiment was observed over March as upgraded global growth expectations coupled with the passing of Biden’s stimulus package, totaling 9% of US GDP, prompted risk free markets sell off and rate volatility to increase. The equity rally was seen in UK small cap stocks, with the Russell 2000 up 12% ytd. In the UK rate space, the 5-year, 10-year and 30-year UK gilt yields ended the month of February substantially higher, rising to 0.39%, 0.85% and 1.40%, respectively. The UK 5s30s curve oscillated mildly throughout the month and ended February slightly steeper. 10-year German bund yields fell slightly, ending the month 3 bps lower at -0.29% whereas 10-year US treasury yields rose during the period, ending the February at 1.74%.

March’s UK composite purchasing managers’ index (“PMI”) of 56.4 recorded a significant increase from previous months reading of 49.6. Service PMI recorded a notable improvement of 56.8, alongside a lower manufacturing figure of 55.6. The reading signaled decreasing bifurcation between the service and manufacturing sectors for the first time since the beginning of the pandemic in February 2020.

UK retail sales volume increased only moderately in February by 2.1% as COVID restrictions hindered sales. As a result of the subsided activity, sales volume was 3.7% yoy lower compared with pre-lockdown levels. Non-food stores contributed most to the monthly growth in both amount spent and quantity purchased, with solid increases in volume of 16.2% and 16.1% across department stores and household goods, respectively. The proportion spent online increased to a record 36.1% in February, reflecting pent up demand and changing consumer behaviour.

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 0.7% in February, a decrease of 20 basis points, from 0.9% in January. The largest contribution came from transport, followed closely by recreation and culture. During the initial lockdown many CPIH items were not available to UK consumers. In February the amount unavailable stood at 69 items or 8.3% of the basket. The 30-year UK breakeven rate stood at 3.33% at the end of March.

Source: BlackRock

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 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 Bonds 56.71%
  UK Corporate Bonds 43.20%
  Alternative Trading Strategies 0.10%
  Cash and Equivalents -0.35%
  Other Assets 0.33%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 99.92% - - -
 
Non-Classified 0.33% - - -
 
Non-Classified - 0.00% - -
 
Non-Classified - - 0.00% -
 
Non-Classified - - - 0.00%
 
Alternative Trading Strategies 0.10% - - -
 
Alternative Trading Strategies - 0.10% - -
 
Alternative Trading Strategies - - 0.10% -
 
Alternative Trading Strategies - - - 0.10%
 
Cash and Equivalents -0.35% - - -

Regional Allocation

pie chart
  UK 43.20%
  Developed Europe - Excl UK 32.76%
  North America 17.97%
  Non-Classified 2.47%
  Australia & New Zealand 1.45%
  Emerging Asia 0.96%
  South & Central America 0.70%
  Japan 0.30%
  Developed Asia 0.30%
  Other Regions -0.12%

Fixed Interest Currencies

pie chart
  Pound Sterling 96.22%
  US Dollar 3.25%
  Non-Fixed Interest Assets 0.46%
  Euro 0.34%
  Australian Dollar 0.06%
  Lari 0.05%
  Cash -0.38%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 43.20% -
 
United Kingdom - 43.20%
 
Developed Europe - Excl UK 32.76% -
 
France - 8.03%
 
Netherlands - 6.44%
 
Germany - 5.87%
 
Luxembourg - 5.78%
 
Ireland - 1.06%
 
Spain - 0.93%
 
Sweden - 0.85%
 
Norway - 0.83%
 
Denmark - 0.66%
 
Italy - 0.61%
 
Belgium - 0.57%
 
Switzerland - 0.45%
 
Finland - 0.43%
 
Austria - 0.28%
 
North America 17.97% -
 
United States - 16.34%
 
Canada - 1.64%
 
Non-Classified 2.47% -
 
Australia & New Zealand 1.45% -
 
Australia - 1.42%
 
New Zealand - 0.03%
 
Emerging Asia 0.96% -
 
Philippines - 0.68%
 
China - 0.24%
 
South Korea - 0.04%
 
South & Central America 0.70% -
 
Mexico - 0.70%
 
Japan 0.30% -
 
Japan - 0.30%
 
Developed Asia 0.30% -
 
Singapore - 0.18%
 
Hong Kong - 0.12%
 
Middle East & Africa 0.18% -
 
United Arab Emirates - 0.18%
 
Emerging Europe 0.05% -
 
Czech Republic - 0.05%
 
Cash and Equivalents -0.35% -

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
31.61%
5Yr - 10Yr Maturity
 
 
27.32%
10Yr - 15Yr Maturity
 
 
13.00%
> 15Yr Maturity
 
 
27.99%
Cash And Equivalents
 
-0.35%
Unknown Maturity
 
 
0.33%
Other Asset Types
 
 
0.10%

Fixed Interest Quality Profile

AAA
 
 
19.03%
AA
 
 
11.46%
A
 
 
27.96%
BBB
 
 
33.55%
Sub-Investment Grade
 
 
0.28%
Unknown Quality
 
 
7.63%
Cash and Equivalents
 
-0.35%
Other Asset Types
 
 
0.43%

Top 10 Holdings

Stock % Weight Sector Country
1 KFW BANKENGRUPPE MTN 6 12/07/2028 0.68% Bonds Germany
2 European Investment Bank 6% 2028 0.58% Bonds Luxembourg
3 EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.47% Bonds Luxembourg
4 EUROPEAN INVESTMENT BANK MTN RegS 2.5 10/31/2022 0.38% Bonds Luxembourg
5 ELECTRICITE DE FRANCE SA MTN RegS 6 01/23/2114 0.36% Bonds France
6 EUROPEAN INVESTMENT BANK 5 04/15/2039 0.36% Bonds Luxembourg
7 EUROPEAN INVESTMENT BANK RegS 4.5 06/07/2029 0.36% Bonds Luxembourg
8 KFW BANKENGRUPPE MTN 5.75 06/07/2032 0.35% Bonds Germany
9 KFW MTN RegS 1 12/15/2022 0.35% Bonds Germany
10 ELECTRICITE DE FRANCE SA MTN RegS 5.5 10/17/2041 0.35% Bonds France

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).

Identification Codes

Sedol Code B08ZTP4
Mex Code PURAF
Isin Code GB00B08ZTP47
Citi Code UO36

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 BlackRock Aquila Life Corporate Bond Index Fund All Stocks - the underlying fund. Underlying Fund Objective: The fund invests in investment grade corporate bonds denominated in sterling and aims to achieve a return consistent with the iBoxx £ Non-Gilts Index. This index covers the broad spectrum of investment grade corporate bonds in issue.
Benchmark iBoxx Sterling Non-Gilts Index
Sector ABI Sterling Corporate Bond

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.

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

Lower to Medium Risk

These funds may invest in corporate bonds or multi-asset strategies with a higher weighting in corporate bonds (and other comparable strategies).

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 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.