Prudential Long-Term Gilt Passive 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 17.8% -10.3% -7.2% -29.3% -4.8%
Benchmark 17.6% -10.4% -7.2% -29.6% -5.0%

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 -3.5% -14.5% -8.0% 0.4%
Benchmark -3.5% -14.7% -8.1% 0.4%

Top 10 Holdings

Stock % Weight
4½% Treasury Gilt 2042 5.99
4¼% Treasury Gilt 2040 5.50
4¼% Treasury Gilt 2055 5.49
3½% Treasury Gilt 2045 5.27
3¼% Treasury Gilt 2044 5.06
4¼% Treasury Gilt 2046 5.04
4¼% Treasury Gilt 2039 5.01
3¾% Treasury Gilt 2053 4.94
4% Treasury Gilt 2060 4.76
3¾% Treasury Gilt 2052 4.55
Total 51.60

Fund Aims

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

Underlying Fund Objective: The fund invests in UK Government gilts with over 15 years to maturity. The fund is passively managed against its benchmark, the iBoxx Sterling Gilts (15+) Index. Tracking this index is achieved by fully replicating the stocks in the index.

Fund Manager

Robert Burrows manager of the underlying fund for 11 years and 7 months

Photo of Robert Burrows Robert joined M&G in 2007 as a fund managers’ assistant, supporting our institutional portfolio management team. He was promoted to Assistant Fund Manager in January 2008. Prior to M&G, Robert worked in fund accounting for Cambridge Place Investment Management, a hedge fund boutique. Robert graduated from the University of Pietermaritzburg in South Africa with an honours degree in Finance and Economics. Robert is a CFA charterholder.

Fund Overview

Daily price (23/05/2024) 209.30
Fund size (30/04/2024) £23.62m
Underlying Fund size £128.53m
Number of holdings 28
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 06/04/2001

Asset Allocation

pie chart
  UK Gilts 99.89%
  Cash and Equivalents 0.11%

Commentary

Performance as at Q1 2024 - UK government bonds (gilts) returned -1.7% in the first quarter of 2024, underperforming US government bonds (Treasuries) and German government bonds (bunds). Over the period, persistent inflation led investors to scale back their expectations for interest rate cuts this year, which caused bond prices to retrace some of their gains in the previous quarter. The Bank of England maintained interest rates at 5.25% in March; however, governor Andrew Bailey said that rate cuts are “on the way” and that it was “reasonable” for financial markets to price in two or three rate cuts this year – at the start of the quarter the market had anticipated six cuts. The benchmark 10-year gilt yielded 3.9% at the end of the period, up from 3.5% three months earlier. Longer dated gilts, particularly those over 15 years, suffered more than shorter-dated gilts. Index-linked gilts underperformed conventional gilts. In contrast, UK corporate bonds rose 0.1%, while global high yield bonds returned 2.0%.

Source: M&G

Important Information

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
  UK Gilts 99.89%
  Cash and Equivalents 0.11%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 99.89% - - -
 
Cash and Equivalents 0.11% - - -

Regional Allocation

pie chart
  UK 99.89%
  Cash and Equivalents 0.11%

Fixed Interest Currencies

pie chart
  Pound Sterling 99.89%
  Cash 0.11%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 99.89% -
 
United Kingdom - 99.89%
 
Cash and Equivalents 0.11% -

Fixed Interest Maturity Profile

> 15Yr Maturity
 
 
99.89%
Cash And Equivalents
 
 
0.11%

Fixed Interest Quality Profile

AA
 
 
99.89%
Cash and Equivalents
 
 
0.11%

Top 10 Holdings

Stock % Weight Sector Country
1 4½% Treasury Gilt 2042 5.99% Bonds United Kingdom
2 4¼% Treasury Gilt 2040 5.50% Bonds United Kingdom
3 4¼% Treasury Gilt 2055 5.49% Bonds United Kingdom
4 3½% Treasury Gilt 2045 5.27% Bonds United Kingdom
5 3¼% Treasury Gilt 2044 5.06% Bonds United Kingdom
6 4¼% Treasury Gilt 2046 5.04% Bonds United Kingdom
7 4¼% Treasury Gilt 2039 5.01% Bonds United Kingdom
8 3¾% Treasury Gilt 2053 4.94% Bonds United Kingdom
9 4% Treasury Gilt 2060 4.76% Bonds United Kingdom
10 3¾% Treasury Gilt 2052 4.55% Bonds United Kingdom

Important Information

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 3169425
Mex Code PURP
Isin Code GB0031694259
Citi Code P284

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 Long-Term Gilt Passive Fund - the underlying fund. Underlying Fund Objective: The fund invests in UK Government gilts with over 15 years to maturity. The fund is passively managed against its benchmark, the iBoxx Sterling Gilts (15+) Index. Tracking this index is achieved by fully replicating the stocks in the index.
Benchmark iBoxx Sterling Gilts (15+) Index
Sector ABI Sterling Long Bond

Important Information

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.

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

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.