Prudential Baillie Gifford Diversified Growth 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 2.1% 4.5% -2.4% 14.7% -9.5%
Benchmark 3.9% 4.2% 4.1% 3.6% 3.9%

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 -9.1% 0.4% 1.6% 4.1%
Benchmark 1.1% 3.9% 4.0% 4.0%

Top 10 Holdings

Stock % Weight
Citigroup Volatility Carry ETN (c) 3.05
BAML Commodity Carry ETN (c) 2.57
UBS CSI 500 NTR index + 7.05% ETN (c) 2.34
UK T Bill 15/08/2022 2.01
CS CSI 500 NTR index + 9.5% ETN 1.83
Fair Oaks Senior CLO Note 1.63
BG Worldwide Sustainable EM Bond C USD ACC 1.58
Australia 1.75% 21/06/2051 1.55
Australia 3% 21/03/2047 1.55
UBS WTI Curve Strategy ETN 1.52
Total 19.63

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Baillie Gifford Diversified Growth Fund - the underlying fund, a collective investment scheme managed by Baillie Gifford & Co Limited.

Underlying Fund Objective: The fund aims to achieve (after deduction of costs): - an annualised return over rolling five-year periods that is at least 3.5% more than UK Base Rate - a positive return over rolling three-year periods - annualised volatility of returns over rolling five-year periods that is below 10%

There is no guarantee that a positive return will be achieved over rolling three-year periods, or any time period, and capital may be at risk.

The fund will gain exposure to a wide range of asset classes. The fund is actively managed and the investment manager has the discretion to invest in any country or economic sector. At any one time, the fund may be invested in any one or more of the following: shares, bonds, money market instruments, derivatives, currency forwards, deposits, cash and other transferable securities. This exposure may be achieved directly or indirectly via collective investment schemes (which may include those managed or operated by the Authorised Corporate Director (ACD) of the fund). The fund may also invest indirectly in property, infrastructure, commodities, private equity, loans and insurance-linked securities. The collective investment schemes in which the fund invests may include those managed or operated by the ACD. The Sub-fund may, at any one time, obtain its diversification through investing up to 100% in collective investment schemes. The fund may use derivatives for both investment purposes and in the management of risk.

Fund Manager

Scott Lothian manager of the underlying fund for 6 years and 7 months

Photo of Scott Lothian Scott joined Baillie Gifford in 2015 and is an Investment Manager in the Multi Asset Team. Prior to joining Baillie Gifford, he worked for Schroders in London, BEA Union in Hong Kong and Towers Watson. Scott graduated BSc in Actuarial Mathematics and Statistics from Heriot-Watt University in 1999. He is a Fellow of the Institute and Faculty of Actuaries.

Nicoleta Dumitru manager of the underlying fund for 2 years and 7 months

Photo of Nicoleta Dumitru Nicoleta joined Baillie Gifford in 2013 and is an Investment Manager in the Multi Asset Team. In 2018, she joined the Multi Asset Income Portfolio Construction Group (PCG). Nicoleta graduated BSc (Hons) in Management and Marketing from the University of Manchester in 2013.

James Squires manager of the underlying fund for 7 years and 4 months

Photo of James Squires James is Head of the Multi Asset Team and chairs our Multi Asset and Income Leadership Group. He became a Partner in 2018. James joined Baillie Gifford in 2006, initially working in our North American Equity and Fixed Income Teams. He has been a CFA Charterholder since 2010 and graduated BA in Mathematics and Philosophy from the University of Oxford in 2005.

Felix Amoako-Kwarteng manager of the underlying fund for 7 years and 1 months

Photo of Felix Amoako-Kwarteng Felix joined Baillie Gifford in 2011 and is an Investment Manager in the Multi Asset Team. He is a CFA Charterholder. Felix graduated BComm in Accounting from University of Cape Coast, Ghana in 2008 and MSc in Investment Analysis from the University of Stirling in 2010.

Fund Overview

Daily price (15/08/2022) 162.10
Fund size (30/06/2022) £18.70m
Underlying Fund size £4134.52m
Number of holdings 800
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 22/08/2011

Asset Allocation

pie chart
  International Equities 27.93%
  International Bonds 15.06%
  Cash and Equivalents 7.68%
  Property 6.59%
  Investment Trusts 5.96%
  Alternative Trading Strategies 3.12%
  UK Equities 1.93%
  UK Corporate Bonds 0.46%
  Other Assets 31.29%

Commentary

Performance as at Q1 2022 - During the spring of 2021, economies were continuing to reopen as vaccines were rolled out across the world and, along with supportive economic policies and low inflation, the subsequent positivity across investment markets was generally a good thing for most asset classes. However, investment markets have had a much more challenging start to 2022, reacting initially to heightened short-term inflation data and then more recently to the war in Ukraine. Russia’s belligerence has rightly been dominating headlines with its aggression having a devastating impact.

As supply chains have become stretched in a number of industries, most notably in commodity markets, inflation concerns have become more embedded, leading central banks to become more inclined towards raising interest rates than had been expected even as recently as three months ago.

From a performance perspective, the underlying fund returned 3.7% over the past twelve months. Infrastructure holdings were the single biggest positive contributor to returns during this time as the fund managers witnessed pledges by governments globally to increase their renewable energy commitments. The elevated energy prices everyone is experiencing should serve to increase both the viability of these renewable developments and international energy independence.

Another asset class that contributed positively to performance was property, with investments in logistics and distribution assets being particularly beneficial. These assets are capitalising on the ongoing shift to e-commerce and the need for increased warehousing space to meet the demand of rising inventory levels. The portfolio’s commodities investments were a notable performer over the period as our exposure to silver and rare earth miners contributed positively against a favourable backdrop for their use in renewable technologies.

Across all asset classes, absolute return was the worst performer with a number underlying holdings performing less well during times of economic stress. However, the fund managers were disappointed with their intraday trend strategies as market conditions worked against their objective of providing protection to the fund. The fund managers have since sold these strategies, replacing them with portfolio hedges in which they have more confidence. High yielding credit also contributed negatively during the 12-month period with the largest detractor being Asian high yield bond funds, initially purchased in Q4 2021. The Chinese property market has been volatile since the introduction of regulations to de-leverage the sector, which in turn has impacted the fund’s holdings. However, the fund managers still have confidence in the medium-to-long-term opportunity this position presents.

From a broader investment and outlook perspective, while the fund managers remain alive to shorter-term swings in market sentiment, their focus remains on taking advantage of longer-term trends. In the funds’ portfolios they are invested in a number of themes – which include the Rise of Asia, the Green Revolution and Technological Innovation – while also maintaining a generally positive view on economies reopening. Indeed, on a medium-term view, the abrupt change in geopolitical relations only strengthens the case for Europe seeking energy independence; wage inflation is increasing the attraction and adoption of automation and other disruptive activities; and supply chain disruption only prompts greater inventories and demand for the logistics properties that store them.

And while the fund managers consistently seek to capture this optimism, they still maintain a defence against misjudgements and longer-term downswings via a refined allocation to more defensively orientated investments, alongside the inherent diversification of our portfolios.

Source: Baillie Gifford

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 Equities 27.93%
  International Bonds 15.06%
  Cash and Equivalents 7.68%
  Property 6.59%
  Investment Trusts 5.96%
  Alternative Trading Strategies 3.12%
  UK Equities 1.93%
  UK Corporate Bonds 0.46%
  Other Assets 31.29%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Non-Classified 32.13% - - -
 
Non-Classified - 9.55% - -
 
Non-Classified - - 9.55% -
 
Non-Classified - - - 9.55%
 
Bonds 15.51% - - -
 
Utilities 7.91% - - -
 
Utilities - 7.91% - -
 
Electricity - - 7.43% -
 
Alternative Electricity - - - 4.46%
 
Conventional Electricity - - - 2.97%
 
Gas, Water & Multi-utilities - - 0.48% -
 
Multi-Utilities - - - 0.25%
 
Gas Distribution - - - 0.23%
 
Real Estate 7.86% - - -
 
Real Estate - 7.86% - -
 
Real Estate Investment Trusts - - 7.32% -
 
Industrial REITs - - - 5.58%
 
Other Specialty REITs - - - 0.80%
 
Diversified REITs - - - 0.33%
 
Health Care REITs - - - 0.32%
 
Office REITs - - - 0.28%
 
Real Estate Investment & Services - - 0.54% -
 
Real Estate Holding and Development - - - 0.48%
 
Real Estate Services - - - 0.06%
 
Cash and Equivalents 7.68% - - -
 
Financials 7.57% - - -
 
Financial Services - 6.89% - -
 
Equity Investment Instruments - - 5.96% -
 
Equity Investment Instruments - - - 5.96%
 
Investment Banking & Brokerage Services - - 0.65% -
 
Investment Services - - - 0.45%
 
Asset Managers & Custodians - - - 0.20%
 
Finance & Credit Services - - 0.28% -
 
Financial Data & Systems - - - 0.14%
 
Mortgage Finance - - - 0.14%
 
Insurance - 0.53% - -
 
Non-life Insurance - - 0.35% -
 
Property & Casualty Insurance - - - 0.19%
 
Insurance Brokers - - - 0.17%
 
Reinsurance - - - 0.00%
 
Life Insurance - - 0.18% -
 
Life Insurance - - - 0.18%
 
Banks - 0.15% - -
 
Banks - - 0.15% -
 
Banks - - - 0.15%
 
Industrials 4.49% - - -
 
Industrial Goods & Services - 4.18% - -
 
Electronic & Electrical Equipment - - 3.12% -
 
Electrical Components - - - 3.12%
 
Industrial Transportation - - 0.51% -
 
Delivery Services - - - 0.22%
 
Commercial Vehicle-Equipment Leasing - - - 0.11%
 
Trucking - - - 0.10%
 
Marine Transportation - - - 0.07%
 
Industrial Support Services - - 0.42% -
 
Transaction Processing Services - - - 0.32%
 
Professional Business Support Services - - - 0.10%
 
Industrial Engineering - - 0.11% -
 
Machinery: Industrial - - - 0.09%
 
Machinery: Construction & Handling - - - 0.02%
 
Aerospace & Defence - - 0.02% -
 
Defense - - - 0.02%
 
Aerospace - - - 0.01%
 
Construction & Materials - 0.30% - -
 
Construction & Materials - - 0.30% -
 
Building: Climate Control - - - 0.15%
 
Building Materials: Other - - - 0.09%
 
Cement - - - 0.06%
 
Consumer Discretionary 3.31% - - -
 
Consumer Products & Services - 1.27% - -
 
Personal Goods - - 0.65% -
 
Clothing & Accessories - - - 0.48%
 
Cosmetics - - - 0.11%
 
Luxury Items - - - 0.04%
 
Footwear - - - 0.02%
 
Consumer Services - - 0.32% -
 
Consumer Services: Misc. - - - 0.23%
 
Funeral Parlors & Cemetery - - - 0.09%
 
Education Services - - - 0.01%
 
Household Goods & Home Construction - - 0.15% -
 
Household Furnishings - - - 0.08%
 
Household Appliance - - - 0.07%
 
Leisure Goods - - 0.14% -
 
Electronic Entertainment - - - 0.14%
 
Retail - 0.66% - -
 
Retailers - - 0.66% -
 
Diversified Retailers - - - 0.57%
 
Specialty Retailers - - - 0.05%
 
Home Improvement Retailers - - - 0.02%
 
Apparel Retailers - - - 0.01%
 
Automobiles & Parts - 0.61% - -
 
Automobiles & Parts - - 0.61% -
 
Automobiles - - - 0.44%
 
Auto Parts - - - 0.17%
 
Media - 0.49% - -
 
Media - - 0.49% -
 
Media Agencies - - - 0.22%
 
Publishing - - - 0.10%
 
Entertainment - - - 0.10%
 
Radio & TV Broadcasters - - - 0.06%
 
Travel & Leisure - 0.30% - -
 
Travel & Leisure - - 0.30% -
 
Restaurants & Bars - - - 0.15%
 
Airlines - - - 0.07%
 
Travel & Tourism - - - 0.04%
 
Recreational Services - - - 0.02%
 
Casinos & Gambling - - - 0.01%
 
Technology 3.25% - - -
 
Technology - 3.25% - -
 
Software & Computer Services - - 2.11% -
 
Consumer Digital Services - - - 1.10%
 
Software - - - 0.87%
 
Computer Services - - - 0.14%
 
Technology Hardware & Equipment - - 1.14% -
 
Semiconductors - - - 0.69%
 
Production Technology Equipment - - - 0.24%
 
Computer Hardware - - - 0.21%
 
Alternative Trading Strategies 3.12% - - -
 
Alternative Trading Strategies - 3.12% - -
 
Alternative Trading Strategies - - 3.12% -
 
Alternative Trading Strategies - - - 3.12%
 
Basic Materials 2.97% - - -
 
Basic Resources - 2.77% - -
 
Industrial Metals & Mining - - 2.77% -
 
General Mining - - - 2.58%
 
Metal Fabricating - - - 0.19%
 
Chemicals - 0.21% - -
 
Chemicals - - 0.21% -
 
Chemicals: Diversified - - - 0.21%
 
Health Care 2.07% - - -
 
Health Care - 2.07% - -
 
Pharmaceuticals & Biotechnology - - 1.26% -
 
Biotechnology - - - 0.72%
 
Pharmaceuticals - - - 0.54%
 
Medical Equipment & Services - - 0.51% -
 
Medical Equipment - - - 0.49%
 
Medical Services - - - 0.02%
 
Health Care Providers - - 0.31% -
 
Health Care Services - - - 0.16%
 
Health Care Management Services - - - 0.14%
 
Consumer Staples 1.01% - - -
 
Food, Beverage & Tobacco - 0.82% - -
 
Beverages - - 0.49% -
 
Soft Drinks - - - 0.36%
 
Distillers & Vintners - - - 0.13%
 
Food Producers - - 0.33% -
 
Food Products - - - 0.33%
 
Personal Care, Drug & Grocery Stores - 0.19% - -
 
Personal Care, Drug & Grocery Stores - - 0.19% -
 
Personal Products - - - 0.19%
 
Energy 1.00% - - -
 
Energy - 1.00% - -
 
Renewable Energy - - 0.90% -
 
Renewable Energy Equipment - - - 0.90%
 
Non-Renewable Energy - - 0.10% -
 
Oil Refining and Marketing - - - 0.10%
 
Telecommunications 0.11% - - -
 
Telecommunications - 0.11% - -
 
Telecommunications Equipment - - 0.07% -
 
Telecommunications Equipment - - - 0.07%
 
Telecommunications Service Providers - - 0.05% -
 
Telecommunications Services - - - 0.05%

Regional Allocation

pie chart
  Non-Classified 38.27%
  Developed Europe - Excl UK 14.11%
  North America 12.47%
  Cash and Equivalents 7.68%
  Property 6.24%
  Emerging Asia 5.38%
  Australia & New Zealand 4.76%
  UK 4.65%
  South & Central America 2.61%
  Other Regions 3.82%

Fixed Interest Currencies

pie chart
  Non-Fixed Interest Assets 76.81%
  Cash 7.68%
  US Dollar 5.26%
  Euro 2.42%
  Australian Dollar 1.55%
  Brazilian Real 0.90%
  Other Currencies 5.39%

Regional Breakdown

Expand allCollapse all
Region Country
 
Non-Classified 38.27% -
 
Developed Europe - Excl UK 14.11% -
 
Spain - 2.78%
 
Ireland - 2.55%
 
France - 2.13%
 
Denmark - 2.06%
 
Italy - 1.91%
 
Netherlands - 1.14%
 
Germany - 0.59%
 
Switzerland - 0.56%
 
Luxembourg - 0.19%
 
Sweden - 0.06%
 
Norway - 0.05%
 
Finland - 0.05%
 
Austria - 0.03%
 
Belgium - 0.02%
 
North America 12.47% -
 
United States - 11.31%
 
Canada - 1.16%
 
Cash and Equivalents 7.68% -
 
Property 6.24% -
 
Emerging Asia 5.38% -
 
China - 3.29%
 
Indonesia - 0.73%
 
Thailand - 0.41%
 
Malaysia - 0.30%
 
Taiwan - 0.29%
 
India - 0.28%
 
South Korea - 0.04%
 
Mongolia - 0.03%
 
Australia & New Zealand 4.76% -
 
Australia - 4.76%
 
UK 4.65% -
 
United Kingdom - 4.65%
 
South & Central America 2.61% -
 
Brazil - 1.01%
 
Mexico - 0.50%
 
Peru - 0.31%
 
Colombia - 0.27%
 
Chile - 0.22%
 
Uruguay - 0.17%
 
Dominican Republic - 0.14%
 
Middle East & Africa 0.93% -
 
South Africa - 0.83%
 
Cote D'Ivoire - 0.05%
 
Egypt - 0.05%
 
Alternative Trading Strategies 0.90% -
 
Emerging Europe 0.86% -
 
Ukraine - 0.42%
 
Romania - 0.19%
 
Poland - 0.08%
 
Hungary - 0.06%
 
Macedonia, The Former Yugoslav Republic Of - 0.04%
 
Albania - 0.04%
 
Serbia - 0.02%
 
Czech Republic - 0.02%
 
Russian Federation - 0.00%
 
Developed Asia 0.84% -
 
Hong Kong - 0.74%
 
Singapore - 0.10%
 
Japan 0.29% -
 
Japan - 0.29%

Breakdown By Market Cap (%)

Mega
 
 
12.69%
Large
 
 
10.20%
Medium
 
 
12.14%
Small
 
 
1.14%
Micro
 
 
0.64%
Non-Classified
 
 
40.00%
Bonds
 
 
15.51%
Cash
 
 
7.68%

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
4.97%
5Yr - 10Yr Maturity
 
 
2.46%
10Yr - 15Yr Maturity
 
 
1.54%
> 15Yr Maturity
 
 
6.33%
Cash And Equivalents
 
 
7.68%
Unknown Maturity
 
 
23.69%
Other Asset Types
 
 
53.34%

Fixed Interest Quality Profile

AAA
 
 
3.28%
AA
 
 
0.03%
A
 
 
0.33%
BBB
 
 
2.03%
Sub-Investment Grade
 
 
2.36%
Unknown Quality
 
 
7.26%
Cash and Equivalents
 
 
7.68%
Other Asset Types
 
 
77.03%

Top 10 Holdings

Stock % Weight Sector Country
1 Citigroup Volatility Carry ETN (c) 3.05% Non-Classified Non-Classified
2 BAML Commodity Carry ETN (c) 2.57% Non-Classified Non-Classified
3 UBS CSI 500 NTR index + 7.05% ETN (c) 2.34% Bonds Ireland
4 UK T Bill 15/08/2022 2.01% Non-Classified Non-Classified
5 CS CSI 500 NTR index + 9.5% ETN 1.83% Non-Classified Non-Classified
6 Fair Oaks Senior CLO Note 1.63% Non-Classified Non-Classified
7 BG Worldwide Sustainable EM Bond C USD ACC 1.58% Non-Classified Non-Classified
8 Australia 1.75% 21/06/2051 1.55% Bonds Australia
9 Australia 3% 21/03/2047 1.55% Bonds Australia
10 UBS WTI Curve Strategy ETN 1.52% Non-Classified Non-Classified

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 B4W5196
Mex Code PUDIVE
Isin Code GB00B4W51962
Citi Code 08K4

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 Baillie Gifford Diversified Growth Fund - the underlying fund, a collective investment scheme managed by Baillie Gifford & Co Limited. Underlying Fund Objective: The fund aims to achieve (after deduction of costs): - an annualised return over rolling five-year periods that is at least 3.5% more than UK Base Rate - a positive return over rolling three-year periods - annualised volatility of returns over rolling five-year periods that is below 10% There is no guarantee that a positive return will be achieved over rolling three-year periods, or any time period, and capital may be at risk. The fund will gain exposure to a wide range of asset classes. The fund is actively managed and the investment manager has the discretion to invest in any country or economic sector. At any one time, the fund may be invested in any one or more of the following: shares, bonds, money market instruments, derivatives, currency forwards, deposits, cash and other transferable securities. This exposure may be achieved directly or indirectly via collective investment schemes (which may include those managed or operated by the Authorised Corporate Director (ACD) of the fund). The fund may also invest indirectly in property, infrastructure, commodities, private equity, loans and insurance-linked securities. The collective investment schemes in which the fund invests may include those managed or operated by the ACD. The Sub-fund may, at any one time, obtain its diversification through investing up to 100% in collective investment schemes. The fund may use derivatives for both investment purposes and in the management of risk.
Benchmark UK base rate + 3.5% (Target Return)
ABI Sector Specialist

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.