Prudential Positive Impact S3
Performance
Discrete performance - to latest available quarter end
| 30/06/19 to 30/06/20 |
30/06/20 to 30/06/21 |
30/06/21 to 30/06/22 |
30/06/22 to 30/06/23 |
30/06/23 to 30/06/24 |
|
|---|---|---|---|---|---|
| Fund | n/a | 24.4% | -9.7% | 12.9% | 4.1% |
| Benchmark | 5.7% | 25.1% | -3.7% | 11.9% | 20.6% |
Performance - to latest available quarter end
| Quarter | Annualised | |||
|---|---|---|---|---|
| 2 2024 |
3 Years to 30/06/24 |
5 Years to 30/06/24 |
10 Years to 30/06/24 |
|
| Fund | -2.8% | 2.0% | n/a | n/a |
| Benchmark | 2.9% | 9.1% | 11.4% | 12.3% |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| NOVO NORDISK A/S | 7.72 |
| SCHNEIDER ELECTRIC SE | 6.65 |
| JOHNSON CONTROLS INTL | 5.77 |
| UNITEDHEALTH GROUP INCORPORATED | 5.18 |
| THERMO FISHER SCIENTIFIC | 4.76 |
| REPUBLIC SERVICES | 4.72 |
| ON SEMICONDUCTOR CORPORATION | 4.70 |
| HDFC BANK LIMITED | 4.39 |
| ALK-ABELLO A/S | 3.76 |
| QUEST DIAGNOSTICS INCORPORATED | 3.67 |
| Total | 51.32 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the M&G PP Positive Impact fund (the underlying fund).
Underlying fund objective: The fund has two aims: To provide a higher total return (the combination of capital growth and income), net of the Ongoing Charges Figure, than the MSCI ACWI Index over any five-year period; and To invest in companies that aim to have a positive societal impact through addressing the world's major social and environmental challenges. The fund gains its exposure through the M&G Positive Impact Fund, an M&G OEIC. The fund is a concentrated portfolio of global stocks, usually holding fewer than 40 stocks, investing over the long term in companies that make a positive social and/or environmental impact alongside a financial return, using a disciplined stock selection process. Sustainability and impact considerations are fundamental in determining the fund's investment universe and assessing business models. The fund embraces the United Nations Sustainable Development Goals framework and invests in companies focused on areas including climate action, pollution reduction, circular economy, health and wellbeing, education and innovation, and working conditions. The fund invests in three categories of positive impact companies: "Pioneers", whose products or services have a transformational effect on society or the environment; "Enablers", which provide the tools for others to deliver positive social or environmental impact; and "Leaders", which spearhead the development of sustainability in their industries. Investing in these categories provides diversification across industries and maturity of business models. Dialogue with the companies in which the fund invests is fundamental to the investment approach. The objective is to support and influence their contribution to the world's major social and environmental challenges. The fund manager has discretion to invest in companies with limited exposure to fossil fuels but which are driving or significantly participating in the transition to a more sustainable economy. The fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for Efficient Portfolio Management and hedging.
Fund Manager
John William Olsen, a Danish national, joined M&G in April 2014, and was appointed fund manager of the M&G Global Growth Fund and M&G Pan European Fund in July 2014. John William joined M&G from Danske Capital, where from 2002 he had managed non-domestic equity portfolios, including the Global Stock Picking and Global Select equity funds, and also the European Select strategy. He joined Danske Capital in 1998 as a fund manager on the domestic Danish equities team, and in 2000 also became a global sector analyst focusing on technology and telecommunications stocks. John William gained a BA in business economics and then an MSc in finance and accounting from Copenhagen Business School.
Fund Overview
| Daily price (01/07/2024) | 134.30 |
| Fund size (31/05/2024) | £59.75m |
| Underlying Fund size | $240.51m |
| Number of holdings | 34 |
| Annual Management Charge (AMC) | Please refer to the "Fund Guide" for your specific pension plan |
| Launch date | 20/02/2020 |
Asset Allocation
| International Equities | 88.98% | |
| UK Equities | 9.53% | |
| Cash and Equivalents | 1.49% |
Commentary
Performance as at Q1 2024 - Stock selection had a negative impact on relative returns, particularly in the technology and healthcare sectors. The fund’s overweight to healthcare also proved detrimental to relative performance. In contrast, stockpicking in consumer discretionary and materials benefited relative returns. Key detractors from relative returns included HDFC Bank, onsemi and Grifols. In January, HDFC’s share price fell steeply post the release of its Q3 results. These reflected a slowdown in deposit growth. Grifols share price also tumbled at the start of the year after hedge fund Gotham City Research raised concerns about its accounting practices. The company’s lower-than expected 2024 guidance (issued in February) and another damaging report from Gotham City Research in March compounded its share price instability over the quarter. The top contributors to relative performance were Novo Nordisk and Horiba. Novo Nordisk has become one of Europe’s most valuable companies following very strong demand for its weight-loss drug, Wegovy and diabetes medication, Ozempic. We are comfortable with the fund balance and have not felt a need to make major changes. The relative value of the fund now seems even clearer to us as certain parts of the market have become more stretched. As usual, we are reluctant to make definitive comments on market direction, or which styles will work in the near term. However, we note that there has been a fall in the value of the portfolio relative to the benchmark – where certain groups of large-cap stocks are looking increasingly stretched, in our view. We believe that our positive impact companies generally offer good long-term growth prospects. We note that sentiment on many stocks in both the healthcare and renewables sectors is still muted; in our opinion, this should offer a better margin of safety (the difference between the current share price and what we believe to be the intrinsic value of the company) for the portfolio as a whole.
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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is intended for the advisers 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. You should refer to your client's 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 infomation or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 88.98% | |
| UK Equities | 9.53% | |
| Cash and Equivalents | 1.49% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Health Care | 35.57% | - | - | - | |
| Health Care | - | 35.57% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 14.59% | - | |
| Pharmaceuticals | - | - | - | 11.48% | |
| Biotechnology | - | - | - | 3.11% | |
| Medical Equipment & Services | - | - | 14.36% | - | |
| Medical Equipment | - | - | - | 7.63% | |
| Medical Services | - | - | - | 3.67% | |
| Medical Supplies | - | - | - | 3.05% | |
| Health Care Providers | - | - | 6.62% | - | |
| Health Care Management Services | - | - | - | 5.18% | |
| Health Care Services | - | - | - | 1.44% | |
| Industrials | 22.71% | - | - | - | |
| Industrial Goods & Services | - | 22.71% | - | - | |
| Electronic & Electrical Equipment | - | - | 15.66% | - | |
| Electrical Components | - | - | - | 6.65% | |
| Electronic Equipment: Control & Filter | - | - | - | 5.77% | |
| Electronic Equipment: Gauges & Meters | - | - | - | 3.24% | |
| General Industrials | - | - | 5.39% | - | |
| Containers & Packaging | - | - | - | 5.39% | |
| Industrial Support Services | - | - | 1.67% | - | |
| Industrial Suppliers | - | - | - | 1.67% | |
| Technology | 12.15% | - | - | - | |
| Technology | - | 12.15% | - | - | |
| Software & Computer Services | - | - | 6.08% | - | |
| Software | - | - | - | 6.08% | |
| Technology Hardware & Equipment | - | - | 6.07% | - | |
| Semiconductors | - | - | - | 4.70% | |
| Production Technology Equipment | - | - | - | 1.37% | |
| Financials | 11.51% | - | - | - | |
| Banks | - | 10.00% | - | - | |
| Banks | - | - | 10.00% | - | |
| Banks | - | - | - | 10.00% | |
| Insurance | - | 1.51% | - | - | |
| Non-life Insurance | - | - | 1.51% | - | |
| Property & Casualty Insurance | - | - | - | 1.51% | |
| Utilities | 7.71% | - | - | - | |
| Utilities | - | 7.71% | - | - | |
| Waste & Disposal Services | - | - | 4.72% | - | |
| Waste & Disposal Services | - | - | - | 4.72% | |
| Electricity | - | - | 2.99% | - | |
| Alternative Electricity | - | - | - | 2.99% | |
| Consumer Discretionary | 4.86% | - | - | - | |
| Consumer Products & Services | - | 4.86% | - | - | |
| Consumer Services | - | - | 4.18% | - | |
| Consumer Services: Misc. | - | - | - | 2.52% | |
| Education Services | - | - | - | 1.67% | |
| Household Goods & Home Construction | - | - | 0.68% | - | |
| Home Construction | - | - | - | 0.68% | |
| Telecommunications | 2.86% | - | - | - | |
| Telecommunications | - | 2.86% | - | - | |
| Telecommunications Service Providers | - | - | 2.86% | - | |
| Telecommunications Services | - | - | - | 2.86% | |
| Cash and Equivalents | 1.49% | - | - | - | |
| Energy | 1.14% | - | - | - | |
| Energy | - | 1.14% | - | - | |
| Renewable Energy | - | - | 1.14% | - | |
| Renewable Energy Equipment | - | - | - | 0.80% | |
| Alternative Fuels | - | - | - | 0.34% | |
Regional Allocation
| North America | 45.66% | |
| Developed Europe - Excl UK | 28.33% | |
| UK | 9.53% | |
| Emerging Asia | 7.10% | |
| Japan | 3.91% | |
| Australia & New Zealand | 2.87% | |
| Cash and Equivalents | 1.49% | |
| Middle East & Africa | 1.10% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 45.66% | - | |
United States
|
- | 45.66% | |
| Developed Europe - Excl UK | 28.33% | - | |
Denmark
|
- | 14.47% | |
France
|
- | 6.65% | |
Ireland
|
- | 5.77% | |
Germany
|
- | 1.44% | |
| UK | 9.53% | - | |
United Kingdom
|
- | 9.53% | |
| Emerging Asia | 7.10% | - | |
India
|
- | 4.39% | |
Indonesia
|
- | 2.72% | |
| Japan | 3.91% | - | |
Japan
|
- | 3.91% | |
| Australia & New Zealand | 2.87% | - | |
Australia
|
- | 2.87% | |
| Cash and Equivalents | 1.49% | - | |
| Middle East & Africa | 1.10% | - | |
Kenya
|
- | 1.10% | |
Breakdown By Market Cap (%)
| Mega |
|
25.96% |
| Large |
|
19.89% |
| Medium |
|
15.16% |
| Small |
|
1.51% |
| Non-Classified |
|
35.99% |
| Cash |
|
1.49% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | NOVO NORDISK A/S | 7.72% | Pharmaceuticals & Biotechnology | Denmark |
| 2 | SCHNEIDER ELECTRIC SE | 6.65% | Electronic & Electrical Equipment | France |
| 3 | JOHNSON CONTROLS INTL | 5.77% | Electronic & Electrical Equipment | Ireland |
| 4 | UNITEDHEALTH GROUP INCORPORATED | 5.18% | Health Care Providers | United States |
| 5 | THERMO FISHER SCIENTIFIC | 4.76% | Medical Equipment & Services | United States |
| 6 | REPUBLIC SERVICES | 4.72% | Waste & Disposal Services | United States |
| 7 | ON SEMICONDUCTOR CORPORATION | 4.70% | Technology Hardware & Equipment | United States |
| 8 | HDFC BANK LIMITED | 4.39% | Banks | India |
| 9 | ALK-ABELLO A/S | 3.76% | Pharmaceuticals & Biotechnology | Denmark |
| 10 | QUEST DIAGNOSTICS INCORPORATED | 3.67% | Medical Equipment & 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 | - | 12.15% | - | - | - | - | - | - | 12.15% |
| Telecommunications | 1.76% | 1.10% | - | - | - | - | - | - | 2.86% |
| Financials | 2.90% | 8.62% | - | - | - | - | - | - | 11.51% |
| Consumer Discretionary | - | 4.86% | - | - | - | - | - | - | 4.86% |
| Energy | 0.34% | 0.80% | - | - | - | - | - | - | 1.14% |
| Utilities | - | 7.71% | - | - | - | - | - | - | 7.71% |
| Health Care | 2.02% | 33.55% | - | - | - | - | - | - | 35.57% |
| Industrials | 2.52% | 20.20% | - | - | - | - | - | - | 22.71% |
| Cash and Equivalents | - | - | - | - | - | - | - | 1.49% | 1.49% |
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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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 | BKTPJ31 |
| Mex Code | PUAABJ |
| Isin Code | GB00BKTPJ319 |
| Citi Code | QYKJ |
Fund Charges
| Annual Management Charge (AMC) | Please refer to the "Guide to Fund Options" 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 Positive Impact fund (the underlying fund). Underlying fund objective: The fund has two aims: To provide a higher total return (the combination of capital growth and income), net of the Ongoing Charges Figure, than the MSCI ACWI Index over any five-year period; and To invest in companies that aim to have a positive societal impact through addressing the world's major social and environmental challenges. The fund gains its exposure through the M&G Positive Impact Fund, an M&G OEIC. The fund is a concentrated portfolio of global stocks, usually holding fewer than 40 stocks, investing over the long term in companies that make a positive social and/or environmental impact alongside a financial return, using a disciplined stock selection process. Sustainability and impact considerations are fundamental in determining the fund's investment universe and assessing business models. The fund embraces the United Nations Sustainable Development Goals framework and invests in companies focused on areas including climate action, pollution reduction, circular economy, health and wellbeing, education and innovation, and working conditions. The fund invests in three categories of positive impact companies: "Pioneers", whose products or services have a transformational effect on society or the environment; "Enablers", which provide the tools for others to deliver positive social or environmental impact; and "Leaders", which spearhead the development of sustainability in their industries. Investing in these categories provides diversification across industries and maturity of business models. Dialogue with the companies in which the fund invests is fundamental to the investment approach. The objective is to support and influence their contribution to the world's major social and environmental challenges. The fund manager has discretion to invest in companies with limited exposure to fossil fuels but which are driving or significantly participating in the transition to a more sustainable economy. The fund may also invest in other transferable securities, cash, and near cash, directly or via collective investment schemes (including funds managed by M&G). Derivatives may be used for Efficient Portfolio Management and hedging. |
| Benchmark | MSCI ACWI Index |
| ABI Sector | Global 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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
Charges and further costs may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s 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.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -6.59 |
| Beta | 1.38 |
| Sharpe | 0.00 |
| Standard Deviation | 15.42 |
| Info Ratio | -0.56 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | Yes |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | Yes |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Sector Specific
The fund invests in specific sectors. Funds which invest in specific sectors may carry more risk than those spread across a number of different sectors. They may assume higher risk, as markets/sectors can be more volatile. In particular, gold, technology funds and other focused funds can suffer as the underlying stocks can be more volatile and less liquid.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Ethical Restrictions
The fund is unable to invest in certain sectors and companies due to the ethical criteria used to select investments for the fund.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is intended for the advisers 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. You should refer to your client's 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 infomation 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.
Medium to Higher Risk
These funds offer a diverse geographical spread of equity investment or have multi-asset strategies with a specialist focus (e.g. ethical). The equity funds within this category will have greater overseas exposure and underlying volatility than the "medium" sector.
Help
Important Information
This factsheet is intended for the advisers 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. You should refer to your client's 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 infomation 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: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
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 client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is intended for the advisers 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. You should refer to your client's 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 infomation 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.