Prudential BlackRock Aquila All Stocks Corporate Bond Index S3

Essentials Portfolio Analysis Background Data Investment Risk Prudential Risk Performance View PDF Factsheet
Portfolio data accurate as at:

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 5.5% 2.4% -12.8% -7.4% 9.5%
Benchmark 6.4% 1.7% -13.1% -6.9% 9.7%

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 0.2% -4.0% -0.9% 2.4%
Benchmark -0.1% -3.9% -0.8% 2.3%

Top 10 Holdings

Stock % Weight
KFW MTN RegS 1.125 07/04/2025 0.60
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.46
EUROPEAN INVESTMENT BANK MTN RegS 1.375 03/07/2025 0.46
KFW MTN RegS 4.125 02/18/2026 0.41
EUROPEAN INVESTMENT BANK MTN RegS 1 09/21/2026 0.38
European Investment Bank 6% 2028 0.35
KFW MTN RegS 4.875 10/10/2028 0.34
KFW MTN RegS 3.75 01/09/2029 0.34
INTER-AMERICAN DEVELOPMENT BANK 1.25 12/15/2025 0.33
KFW MTN RegS 1.375 12/15/2025 0.32
Total 3.99

Fund Aims

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

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

Fund Manager

BlackRock Team Managed manager of the underlying fund for 24 years and 5 months

Photo of BlackRock Team Managed BlackRock Team Managed

Fund Overview

Daily price (20/08/2024) 204.30
Fund size (30/06/2024) £5.15m
Underlying Fund size £564.23m
Number of holdings 1725
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 15/07/2005

Asset Allocation

pie chart
  International Bonds 61.05%
  UK Corporate Bonds 33.85%
  Alternative Trading Strategies 0.06%
  Cash and Equivalents -0.15%
  Other Assets 5.19%

Commentary

Performance as at Q2 2024 - Over the month, UK yields trended lower with a curve steepening bias as 2-year yields fell 4bps more than the 10-year, and 9bps more than the 30-year. This trend was driven by a combination of factors such as the French election news, which spurred a flight to safety across developed market government bonds. In the UK, this news came alongside dovish communications from the Bank of England, with markets now pricing in a rate cut for September, despite wage data and CPI prints showing continued resilience. A similar trend of lower yields and curve steepening was seen across developed market government bonds. In Europe, the European Central Bank’s interest rate cut marked the start of the cutting cycle – the effects of which were compounded by the French election news. In the US, the effects of these events were further spurred by weaker data releases over the month.

Source: BlackRock

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. The value of your 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.

Portfolio data accurate as at:

Asset Allocation

pie chart
  International Bonds 61.05%
  UK Corporate Bonds 33.85%
  Alternative Trading Strategies 0.06%
  Cash and Equivalents -0.15%
  Other Assets 5.19%

Bond Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Bonds 94.90% - - -
 
Non-Classified 5.19% - - -
 
Non-Classified - 0.00% - -
 
Non-Classified - - 0.00% -
 
Non-Classified - - - 0.00%
 
Alternative Trading Strategies 0.06% - - -
 
Alternative Trading Strategies - 0.06% - -
 
Alternative Trading Strategies - - 0.06% -
 
Alternative Trading Strategies - - - 0.06%
 
Cash and Equivalents -0.15% - - -

Regional Allocation

pie chart
  UK 33.85%
  Developed Europe - Excl UK 31.82%
  North America 17.29%
  Non-Classified 13.13%
  Emerging Asia 1.39%
  Australia & New Zealand 1.10%
  South & Central America 0.52%
  Middle East & Africa 0.50%
  Japan 0.34%
  Other Regions 0.06%

Fixed Interest Currencies

pie chart
  Pound Sterling 91.59%
  Non-Fixed Interest Assets 5.25%
  US Dollar 2.05%
  Euro 1.14%
  Australian Dollar 0.06%
  Lari 0.06%
  Cash -0.15%

Regional Breakdown

Expand allCollapse all
Region Country
 
UK 33.85% -
 
United Kingdom - 33.85%
 
Developed Europe - Excl UK 31.82% -
 
France - 8.48%
 
Germany - 5.89%
 
Luxembourg - 5.41%
 
Netherlands - 4.82%
 
Finland - 1.24%
 
Spain - 1.15%
 
Sweden - 0.95%
 
Switzerland - 0.86%
 
Denmark - 0.86%
 
Norway - 0.80%
 
Italy - 0.77%
 
Ireland - 0.38%
 
Belgium - 0.22%
 
North America 17.29% -
 
United States - 14.96%
 
Canada - 2.32%
 
Non-Classified 13.13% -
 
Emerging Asia 1.39% -
 
Philippines - 1.18%
 
China - 0.21%
 
Australia & New Zealand 1.10% -
 
Australia - 1.10%
 
South & Central America 0.52% -
 
Mexico - 0.52%
 
Middle East & Africa 0.50% -
 
Cote D'Ivoire - 0.25%
 
United Arab Emirates - 0.25%
 
Japan 0.34% -
 
Japan - 0.34%
 
Developed Asia 0.22% -
 
Hong Kong - 0.13%
 
Singapore - 0.09%
 
Cash and Equivalents -0.15% -

Fixed Interest Maturity Profile

< 5Yr Maturity
 
 
44.94%
5Yr - 10Yr Maturity
 
 
21.42%
10Yr - 15Yr Maturity
 
 
10.00%
> 15Yr Maturity
 
 
18.54%
Cash And Equivalents
 
-0.15%
Unknown Maturity
 
 
5.14%
Other Asset Types
 
 
0.11%

Fixed Interest Quality Profile

AAA
 
 
20.07%
AA
 
 
10.91%
A
 
 
24.73%
BBB
 
 
29.91%
Sub-Investment Grade
 
 
0.47%
Unknown Quality
 
 
8.83%
Cash and Equivalents
 
-0.15%
Other Asset Types
 
 
5.25%

Top 10 Holdings

Stock % Weight Sector Country
1 KFW MTN RegS 1.125 07/04/2025 0.60% Bonds Germany
2 EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.46% Bonds Luxembourg
3 EUROPEAN INVESTMENT BANK MTN RegS 1.375 03/07/2025 0.46% Bonds Luxembourg
4 KFW MTN RegS 4.125 02/18/2026 0.41% Bonds Germany
5 EUROPEAN INVESTMENT BANK MTN RegS 1 09/21/2026 0.38% Bonds Luxembourg
6 European Investment Bank 6% 2028 0.35% Bonds Luxembourg
7 KFW MTN RegS 4.875 10/10/2028 0.34% Bonds Germany
8 KFW MTN RegS 3.75 01/09/2029 0.34% Bonds Germany
9 INTER-AMERICAN DEVELOPMENT BANK 1.25 12/15/2025 0.33% Bonds United States
10 KFW MTN RegS 1.375 12/15/2025 0.32% Bonds Germany

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).

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 B08ZTP4
Mex Code PURAF
Isin Code GB00B08ZTP47
Citi Code UO36

Fund Charges

Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan

Aims and Benchmark

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

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for 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 -0.91
Beta 0.89
Sharpe -0.01
Standard Deviation 8.94
Info Ratio -0.14

Risk Factors

Risk Factor Yes / No
Charges to Capital No
Emerging Markets No
Concentrated Portfolio No
Smaller Companies No
High Yield Bonds No
Sector Specific No
Geared Investments No
Value of Investments Yes
Investments Long Term Yes
Property No
Exchange Rate No
Higher Risk No
Performance Charges No
Derivative Exposure No
Offshore No
Income Eroding Capital Growth No
Umbrella Liabilities No
New Fund No
Solvency of Depository No
Solvency of Bond Issuers No
Ethical Restrictions No
Liquidity No
Returns Are Not Guaranteed No
Inflation No
Taxation and Tax Relief No

Fund Specific Risks

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.

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).

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.

  • 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 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 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.