Prudential L&G Property (ex SA) S1
Performance
Discrete performance - to last month end
| 30/11/19 to 30/11/20 |
30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
|
|---|---|---|---|---|---|
| Fund | n/a | n/a | n/a | n/a | n/a |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/24 |
5 Years to 30/11/24 |
10 Years to 30/11/24 |
||
| Fund | n/a | n/a | n/a | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| L&G FREEHOLD PROPERTY | 66.99 |
| PROLOGIS | 1.64 |
| EQUINIX | 1.09 |
| Simon Property Group Inc Simon Property Group Inc USD0.0001 | 0.79 |
| GOODMAN GROUP | 0.75 |
| WELLTOWER | 0.71 |
| DIGITAL REALTY TRUST | 0.69 |
| AVALONBAY COMMUNITIES INC | 0.68 |
| Realty Income Corporation Realty Income Corporation USD1 | 0.39 |
| PUBLIC STORAGE OPERATING COMPANY | 0.36 |
| Total | 74.07 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the L&G Property Fund.
Underlying Fund Objective: The fund aims to carry on Property Investment Business and to manage cash raised from investors for investment in the Property Investment Business. In doing so, the objective of the fund is to achieve income and capital growth through investing generally in commercial property. The Fund will invest at least 60% of its assets in property and property-related assets. Although the Fund’s investment in property and property-related assets is typically expected to be in the region of 80% - 90% of the Fund’s assets, this may vary as a result of factors such as market conditions. The Fund may obtain its exposure through a combination of direct and indirect holdings with exposure across industry sectors (including but not limited to retail, offices, industrial, leisure, healthcare and residential) and geographies. The Fund’s direct holdings, which will typically consist of around 45% of the Fund's assets, will be in property located in the UK. The Fund intends to purchase, hold and, where relevant, develop such properties with the intention of enhancing their capital value and/or income return. The Fund may obtain indirect exposure to property through listed transferable securities (such as real estate investment trusts) and collective investment schemes. The Fund may also invest in money-market instruments (such as treasury bills), permitted deposits, bonds (issued by governments and public bodies), money market funds and cash. The Fund may only use derivatives for the purposes of Efficient Portfolio Management.
Fund Manager
Michael Barrie is co-fund manager for the UK Property Fund and is also a Director of Legal & General Property Division. He joined Legal & General Property in 2005 from F&C Property Asset Management. Michael is a member of the Royal Institution of Chartered Surveyors and has a postgraduate diploma in property investment from Reading University.
Matt Jarvis joined Legal & General Property as an Asset Manager in November 2004 and is Co-Fund Manager of the UK Property Fund, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).
Fund Overview
| Bid (20/12/2024) | 95.00 |
| Offer (20/12/2024) | 100.00 |
| Fund size (31/10/2024) | £40.63m |
| Underlying Fund size | £1171.83m |
| Number of holdings | 262 |
| Launch date | 25/10/2024 |
Fund Charges
| Annual Management Charge (AMC) | 1.00% |
| Further Costs | 0.58% |
| Yearly Total | 1.58% |
Asset Allocation
| Property | 79.77% | |
| Cash and Equivalents | 15.01% | |
| International Equities | 4.70% | |
| UK Equities | 0.21% | |
| Commodities | 0.01% | |
| Other Assets | 0.31% |
Important Information
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 product charges, or 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 net 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 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.
Asset Allocation
| Property | 79.77% | |
| Cash and Equivalents | 15.01% | |
| International Equities | 4.70% | |
| UK Equities | 0.21% | |
| Commodities | 0.01% | |
| Other Assets | 0.31% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Property | 66.99% | - | - | - | |
| Property | - | 66.99% | - | - | |
| Property | - | - | 66.99% | - | |
| Property | - | - | - | 66.99% | |
| Real Estate | 17.66% | - | - | - | |
| Real Estate | - | 17.66% | - | - | |
| Real Estate Investment Trusts | - | - | 15.49% | - | |
| Retail REITs | - | - | - | 2.97% | |
| Industrial REITs | - | - | - | 2.56% | |
| Other Specialty REITs | - | - | - | 2.49% | |
| Residential REITs | - | - | - | 2.17% | |
| Diversified REITs | - | - | - | 1.68% | |
| Health Care REITs | - | - | - | 1.60% | |
| Office REITs | - | - | - | 0.94% | |
| Hotel & Lodging REITs | - | - | - | 0.58% | |
| Storage REITs | - | - | - | 0.50% | |
| Real Estate Investment & Services | - | - | 2.17% | - | |
| Real Estate Holding and Development | - | - | - | 2.06% | |
| Real Estate Services | - | - | - | 0.10% | |
| Cash and Equivalents | 15.01% | - | - | - | |
| Non-Classified | 0.31% | - | - | - | |
| Non-Classified | - | 0.27% | - | - | |
| Non-Classified | - | - | 0.27% | - | |
| Non-Classified | - | - | - | 0.27% | |
| Industrials | 0.03% | - | - | - | |
| Industrial Goods & Services | - | 0.03% | - | - | |
| Industrial Transportation | - | - | 0.03% | - | |
| Transportation Services | - | - | - | 0.03% | |
| Commodities | 0.01% | - | - | - | |
| Commodities | - | 0.01% | - | - | |
| Commodities | - | - | 0.01% | - | |
| Commodities | - | - | - | 0.01% | |
| Consumer Discretionary | 0.00% | - | - | - | |
| Consumer Products & Services | - | 0.00% | - | - | |
| Household Goods & Home Construction | - | - | 0.00% | - | |
| Home Construction | - | - | - | 0.00% | |
Regional Allocation
| Property | 78.55% | |
| Cash and Equivalents | 15.01% | |
| North America | 3.48% | |
| Developed Europe - Excl UK | 1.22% | |
| Japan | 0.65% | |
| Developed Asia | 0.43% | |
| Non-Classified | 0.32% | |
| UK | 0.21% | |
| Australia & New Zealand | 0.12% | |
| Middle East & Africa | 0.01% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Property | 78.55% | - | |
| Cash and Equivalents | 15.01% | - | |
| North America | 3.48% | - | |
United States
|
- | 3.41% | |
Canada
|
- | 0.07% | |
| Developed Europe - Excl UK | 1.22% | - | |
Germany
|
- | 0.45% | |
Sweden
|
- | 0.34% | |
Switzerland
|
- | 0.17% | |
France
|
- | 0.11% | |
Belgium
|
- | 0.05% | |
Spain
|
- | 0.03% | |
Luxembourg
|
- | 0.02% | |
Netherlands
|
- | 0.02% | |
Finland
|
- | 0.02% | |
Austria
|
- | 0.01% | |
Norway
|
- | 0.01% | |
| Japan | 0.65% | - | |
Japan
|
- | 0.65% | |
| Developed Asia | 0.43% | - | |
Hong Kong
|
- | 0.31% | |
Singapore
|
- | 0.12% | |
| Non-Classified | 0.32% | - | |
| UK | 0.21% | - | |
United Kingdom
|
- | 0.21% | |
| Australia & New Zealand | 0.12% | - | |
Australia
|
- | 0.11% | |
New Zealand
|
- | 0.01% | |
| Middle East & Africa | 0.01% | - | |
Israel
|
- | 0.01% | |
Property Regions
| Cash and equivalents | 23.20% | |
| West Midlands | 13.50% | |
| South East | 12.40% | |
| Central London | 8.33% | |
| Indirect property | 6.33% | |
| Scotland | 5.57% | |
| Other | 30.67% |
Asset Allocation
| Cash and equivalents | 23.20% | |
| Industrial | 21.08% | |
| Office - regional | 13.84% | |
| Retail warehouse and supermarket | 12.00% | |
| Office - London | 7.62% | |
| Indirect property | 6.33% | |
| Other Assets | 15.94% |
Breakdown By Market Cap (%)
| Mega |
|
5.93% |
| Large |
|
7.79% |
| Medium |
|
3.35% |
| Small |
|
0.25% |
| Non-Classified |
|
67.67% |
| Cash |
|
15.01% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | L&G FREEHOLD PROPERTY | 66.99% | Property | Direct Property and REITs |
| 2 | PROLOGIS | 1.64% | Real Estate Investment Trusts | Direct Property and REITs |
| 3 | EQUINIX | 1.09% | Real Estate Investment Trusts | United States |
| 4 | Simon Property Group Inc Simon Property Group Inc USD0.0001 | 0.79% | Real Estate Investment Trusts | Direct Property and REITs |
| 5 | GOODMAN GROUP | 0.75% | Real Estate Investment Trusts | Direct Property and REITs |
| 6 | WELLTOWER | 0.71% | Real Estate Investment Trusts | Direct Property and REITs |
| 7 | DIGITAL REALTY TRUST | 0.69% | Real Estate Investment Trusts | United States |
| 8 | AVALONBAY COMMUNITIES INC | 0.68% | Real Estate Investment Trusts | Direct Property and REITs |
| 9 | Realty Income Corporation Realty Income Corporation USD1 | 0.39% | Real Estate Investment Trusts | Direct Property and REITs |
| 10 | PUBLIC STORAGE OPERATING COMPANY | 0.36% | Real Estate Investment Trusts | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Real Estate | 0.21% | 4.67% | - | - | - | 12.78% | 0.04% | - | 17.70% |
| Consumer Discretionary | - | - | - | - | - | - | - | - | - |
| Industrials | - | 0.03% | - | - | - | - | - | - | 0.03% |
| Property | - | - | - | - | - | 66.99% | - | - | 66.99% |
| Cash and Equivalents | - | - | - | - | - | - | - | 15.01% | 15.01% |
| Non-Classified | - | - | - | - | - | - | 0.27% | - | 0.27% |
Important Information
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 | BMCGFB5 |
| Mex Code | PRABOV |
| Isin Code | GB00BMCGFB57 |
| Citi Code | BDITQ |
Fund Charges
| Annual Management Charge (AMC) | 1.00% |
| Further Costs | 0.58% |
| Yearly Total | 1.58% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the L&G Property Fund. Underlying Fund Objective: The fund aims to carry on Property Investment Business and to manage cash raised from investors for investment in the Property Investment Business. In doing so, the objective of the fund is to achieve income and capital growth through investing generally in commercial property. The Fund will invest at least 60% of its assets in property and property-related assets. Although the Fund’s investment in property and property-related assets is typically expected to be in the region of 80% - 90% of the Fund’s assets, this may vary as a result of factors such as market conditions. The Fund may obtain its exposure through a combination of direct and indirect holdings with exposure across industry sectors (including but not limited to retail, offices, industrial, leisure, healthcare and residential) and geographies. The Fund’s direct holdings, which will typically consist of around 45% of the Fund's assets, will be in property located in the UK. The Fund intends to purchase, hold and, where relevant, develop such properties with the intention of enhancing their capital value and/or income return. The Fund may obtain indirect exposure to property through listed transferable securities (such as real estate investment trusts) and collective investment schemes. The Fund may also invest in money-market instruments (such as treasury bills), permitted deposits, bonds (issued by governments and public bodies), money market funds and cash. The Fund may only use derivatives for the purposes of Efficient Portfolio Management. |
| Benchmark | Composite |
| ABI Sector | Property Other |
Important Information
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 | - |
| Beta | - |
| Sharpe | - |
| Standard Deviation | - |
| Info Ratio | - |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | Yes |
| Exchange Rate | No |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | Yes |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
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.
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.
Property
The fund invests in Property funds, property shares or direct property. In particular the following risks will apply:- The property market is illiquid and this can, in exceptional circumstances, lead to times in which clients are unable to dispose of part or all of their holding. Property valuations are made by independent agents but are ultimately subjective and a matter of judgement. Property transaction costs are high (typically around 7% due to legal costs, valuations and stamp duty)
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.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Solvency of Depository
The value of a cash or currency fund may be affected if any of the institutions with which cash is deposited becomes insolvent or experiences other financial difficulties.
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
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 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.
Important Information
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 product charges, or 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 net 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 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.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.