Prudential HSBC Islamic Global Equity Index 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

30/09/19
to
30/09/20
30/09/20
to
30/09/21
30/09/21
to
30/09/22
30/09/22
to
30/09/23
30/09/23
to
30/09/24
Fund 24.7% 17.6% -2.9% 17.7% 25.8%
Benchmark 24.3% 19.3% -3.2% 17.5% 27.4%

Performance - to latest available quarter end

Quarter Annualised
3
2024
3 Years to
30/09/24
5 Years to
30/09/24
10 Years to
30/09/24
Fund -2.3% 12.8% 16.1% 15.8%
Benchmark -1.7% 13.1% 16.5% 16.3%

Top 10 Holdings

Stock % Weight
MICROSOFT CORPORATION 8.07
APPLE 7.88
NVIDIA CORPORATION 7.83
AMAZON.COM 6.34
META PLATFORMS 3.96
ALPHABET INC 3.83
ALPHABET INC 3.21
ELI LILLY AND COMPANY 2.59
BROADCOM INC 2.49
TESLA 1.95
Total 48.14

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the HSBC Islamic Global Equity Index Fund - the underlying fund.

Underlying Fund Objective: The fund aims to track as closely as possible the performance of the Dow Jones Islamic Market Titans 100 Index (the Islamic Index). The Index is comprised of the shares of companies in emerging and developed markets that are based anywhere in the world. The fund will be passively managed and will aim to invest in the shares of the companies in generally the same proportion as in the Index. The shares are selected by filtering the Index universe through screens for business activities and financial ratios to remove stocks that are not Shariah compliant. The fund will only invest in shares of companies that meet Shariah compliance principles as interpreted or approved by the Shariah Committee. The Shariah Committee monitors the fund throughout the year and issues an annual Shariah certificate on the fund's compliance with Shariah principles. This certificate is included in the annual report of the fund as confirmation of the Shariah compliance for that year. The fund will not invest in derivatives.

Fund Overview

Daily price (18/12/2024) 1127.47
Fund size (31/10/2024) £29.69m
Underlying Fund size £4801.30m
Number of holdings 112
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 18/04/2005

Asset Allocation

pie chart
  International Equities 97.37%
  UK Equities 2.26%
  Property 0.37%

Commentary

Performance as at Q3 2024 - Global equities posted positive returns. Risk assets saw dramatic moves with volatility spiking on cooling sentiment towards US technology stocks, followed by concerns for the broader US economy and interest rate increases by the Bank of Japan(BoJ). After a broad sell-off in early August, global equities rebounded on expectations of policy easing from the Fed (Federal Reserve). Supportive policy measures in China and rate cuts by the Fed led markets to end positively. Momentum in US equities continued. The Fed delivered a bold 50bps rate cut in September. Fed Chair Powell characterised the move as a “recalibration” that “shifted policy from bringing down inflation to safeguarding the soft landing”. Goods inflation normalised but core inflation showed stickiness. The economy seems to be cooling off with a slight inch up in unemployment numbers and decline in consumer confidence. European equities were up owing to strong earnings growth, moderate valuations versus global peers, positive news from China and prospects of interest rate cuts from the ECB (European Central Bank). The economy remains weak with the composite PMI (Project Management Institute) in contractionary territory. In German activity business and consumer sentiment continue to struggle. The ECB lowered rates by 25bps in September. Goods disinflation continues while service sector inflation remains sticky. UK equities were also up. Change in the ruling party raised hopes of immediate economic recovery. The sentiment was short lived as the new PM signalled likeliness of an unfavourable budget consisting of spending cuts and tax increases. The economy posted its second consecutive quarterly GDP increase in Q2 2024. Headline inflation remains close to the BoE’s (Bank of England) 2% target while service sector inflation remains relatively high but private sector wage growth is slowing. The BoE cut rates to 5.0%, with Governor Bailey saying inflationary pressures “have eased enough”. Asian ex Japan equities posted strong returns with China leading the gains. Global sell-off in technology stocks weighed on South Koren and Taiwan. Chinese equities achieved strong gains as the People's Bank of China gave extensive monetary support for the economy including, 20bps cut in the 7-day reverse repo rate, 50bps reduction in required reserve ratio, loan prime and deposit rates guided 20-30bps lower, and a 50bps cut in existing mortgage rates. In India, the composite PMI index fell to a 2024 low, signaling a loss of momentum, but it remains above its long-term average. Hiring intentions remain solid while equity markets are underpinned by solid earnings, economic growth, and structural tailwinds. Japan saw significant volatility as it faced a record single day decline after an interest rate hike lead to an unwinding of the carry trade positions, which allowed investors to borrow at lower rates in yen and invest into high yielding assets. Markets mostly recovered the next day. BoJ governor signalled no urgency to hike rates in September. Emerging market (EM) equities outperformed developed markets. While EM equities performed well, there is divergence – with Latin America a notable laggard. Thailand was amongst the key performance drivers, supported by stimulus measures taken by the government in September. Brazil underperformed as its central bank hiked rates 25bp. Mexico’s central bank lowered rates 25bp in September. Despite this, the market finished in negative territory. South Africa excelled as investors reacted to the first rate cut since 2020. The Dow Jones Islamic Market Titans 100 Index gained 4.21% in USD terms (compared to -1.79% in sterling terms). Financials was the best performing sector, up 15.98%, followed by Real Estate, up 13.02%. Telecommunications sector performed the worst. Mainland China was the best performing country, up 38.87% followed by Ireland at 16.86%. The worst performing was Netherlands, down -19.35%.

Source: HSBC

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 Dow Jones Islamic Titans 100 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Prudential. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); The Dow Jones Islamic Titans 100 Index is a trademark of SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Prudential. Prudential's fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the The Dow Jones Islamic Titans 100 Index.

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 97.37%
  UK Equities 2.26%
  Property 0.37%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Technology 48.02% - - -
 
Technology - 48.02% - -
 
Technology Hardware & Equipment - - 24.71% -
 
Semiconductors - - - 14.46%
 
Computer Hardware - - - 7.88%
 
Production Technology Equipment - - - 2.20%
 
Electronic Components - - - 0.17%
 
Software & Computer Services - - 23.31% -
 
Consumer Digital Services - - - 11.82%
 
Software - - - 11.21%
 
Computer Services - - - 0.28%
 
Health Care 16.39% - - -
 
Health Care - 16.39% - -
 
Pharmaceuticals & Biotechnology - - 11.43% -
 
Pharmaceuticals - - - 11.29%
 
Biotechnology - - - 0.14%
 
Medical Equipment & Services - - 3.30% -
 
Medical Equipment - - - 2.93%
 
Medical Supplies - - - 0.37%
 
Health Care Providers - - 1.66% -
 
Health Care Management Services - - - 1.66%
 
Consumer Discretionary 14.44% - - -
 
Retail - 10.11% - -
 
Retailers - - 10.11% -
 
Diversified Retailers - - - 8.24%
 
Home Improvement Retailers - - - 1.67%
 
Apparel Retailers - - - 0.20%
 
Automobiles & Parts - 1.95% - -
 
Automobiles & Parts - - 1.95% -
 
Automobiles - - - 1.95%
 
Consumer Products & Services - 1.76% - -
 
Personal Goods - - 1.22% -
 
Cosmetics - - - 0.34%
 
Footwear - - - 0.32%
 
Luxury Items - - - 0.29%
 
Clothing & Accessories - - - 0.26%
 
Consumer Services - - 0.54% -
 
Consumer Services: Misc. - - - 0.54%
 
Travel & Leisure - 0.31% - -
 
Travel & Leisure - - 0.31% -
 
Restaurants & Bars - - - 0.31%
 
Media - 0.30% - -
 
Media - - 0.30% -
 
Publishing - - - 0.30%
 
Industrials 7.57% - - -
 
Industrial Goods & Services - 7.24% - -
 
Industrial Support Services - - 3.81% -
 
Transaction Processing Services - - - 2.78%
 
Professional Business Support Services - - - 0.68%
 
Business Training & Employment Agencies - - - 0.35%
 
Electronic & Electrical Equipment - - 1.19% -
 
Electrical Components - - - 0.83%
 
Electronic Equipment: Gauges & Meters - - - 0.36%
 
General Industrials - - 0.88% -
 
Diversified Industrials - - - 0.88%
 
Industrial Transportation - - 0.85% -
 
Railroads - - - 0.49%
 
Delivery Services - - - 0.36%
 
Industrial Engineering - - 0.27% -
 
Machinery: Construction & Handling - - - 0.27%
 
Aerospace & Defence - - 0.25% -
 
Aerospace - - - 0.25%
 
Construction & Materials - 0.32% - -
 
Construction & Materials - - 0.32% -
 
Building: Climate Control - - - 0.16%
 
Building Materials: Other - - - 0.16%
 
Consumer Staples 4.92% - - -
 
Food, Beverage & Tobacco - 2.92% - -
 
Beverages - - 1.70% -
 
Soft Drinks - - - 1.70%
 
Food Producers - - 1.22% -
 
Food Products - - - 1.22%
 
Personal Care, Drug & Grocery Stores - 2.00% - -
 
Personal Care, Drug & Grocery Stores - - 2.00% -
 
Personal Products - - - 1.87%
 
Nondurable Household Products - - - 0.14%
 
Energy 3.95% - - -
 
Energy - 3.95% - -
 
Non-Renewable Energy - - 3.95% -
 
Integrated Oil & Gas - - - 2.81%
 
Oil: Crude Producers - - - 0.62%
 
Oil Refining and Marketing - - - 0.52%
 
Basic Materials 2.23% - - -
 
Chemicals - 1.40% - -
 
Chemicals - - 1.40% -
 
Chemicals: Diversified - - - 1.07%
 
Specialty Chemicals - - - 0.34%
 
Basic Resources - 0.83% - -
 
Industrial Metals & Mining - - 0.83% -
 
General Mining - - - 0.83%
 
Telecommunications 1.60% - - -
 
Telecommunications - 1.60% - -
 
Telecommunications Equipment - - 1.60% -
 
Telecommunications Equipment - - - 1.60%
 
Financials 0.51% - - -
 
Financial Services - 0.51% - -
 
Finance & Credit Services - - 0.51% -
 
Financial Data & Systems - - - 0.51%
 
Real Estate 0.37% - - -
 
Real Estate - 0.37% - -
 
Real Estate Investment Trusts - - 0.37% -
 
Industrial REITs - - - 0.37%
 
Non-Classified 0.00% - - -

Regional Allocation

pie chart
  North America 78.56%
  Developed Europe - Excl UK 11.14%
  Japan 2.91%
  Emerging Asia 2.88%
  UK 2.26%
  Australia & New Zealand 1.30%
  Property 0.37%
  Non-Classified 0.34%
  South & Central America 0.25%

Regional Breakdown

Expand allCollapse all
Region Country
 
North America 78.56% -
 
United States - 78.56%
 
Developed Europe - Excl UK 11.14% -
 
Switzerland - 3.21%
 
Ireland - 2.26%
 
France - 1.87%
 
Netherlands - 1.27%
 
Denmark - 1.14%
 
Germany - 1.12%
 
Sweden - 0.27%
 
Japan 2.91% -
 
Japan - 2.91%
 
Emerging Asia 2.88% -
 
South Korea - 0.92%
 
Taiwan - 0.83%
 
India - 0.80%
 
China - 0.33%
 
UK 2.26% -
 
United Kingdom - 2.26%
 
Australia & New Zealand 1.30% -
 
Australia - 1.30%
 
Property 0.37% -
 
Non-Classified 0.34% -
 
South & Central America 0.25% -
 
Cayman Islands - 0.25%

Breakdown By Market Cap (%)

Mega
 
 
75.55%
Large
 
 
1.12%
Medium
 
 
0.94%
Non-Classified
 
 
22.40%

Top 10 Holdings

Stock % Weight Sector Country
1 MICROSOFT CORPORATION 8.07% Software & Computer Services United States
2 APPLE 7.88% Technology Hardware & Equipment United States
3 NVIDIA CORPORATION 7.83% Technology Hardware & Equipment United States
4 AMAZON.COM 6.34% Retailers United States
5 META PLATFORMS 3.96% Software & Computer Services United States
6 ALPHABET INC 3.83% Software & Computer Services United States
7 ALPHABET INC 3.21% Software & Computer Services United States
8 ELI LILLY AND COMPANY 2.59% Pharmaceuticals & Biotechnology United States
9 BROADCOM INC 2.49% Technology Hardware & Equipment United States
10 TESLA 1.95% Automobiles & Parts United States

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 48.02% - - - - - - 48.02%
Telecommunications - 1.60% - - - - - - 1.60%
Financials - 0.51% - - - - - - 0.51%
Real Estate - - - - - 0.37% - - 0.37%
Consumer Discretionary 0.30% 14.14% - - - - - - 14.44%
Consumer Staples 0.61% 4.31% - - - - - - 4.92%
Energy - 3.95% - - - - - - 3.95%
Health Care 1.10% 15.29% - - - - - - 16.39%
Industrials - 7.57% - - - - - - 7.57%
Basic Materials 0.25% 1.98% - - - - - - 2.23%
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).

The Dow Jones Islamic Titans 100 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Prudential. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); The Dow Jones Islamic Titans 100 Index is a trademark of SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Prudential. Prudential's fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the The Dow Jones Islamic Titans 100 Index.

Identification Codes

Sedol Code B06GS52
Mex Code PUEDY
Isin Code GB00B06GS525
Citi Code UO44

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 HSBC Islamic Global Equity Index Fund - the underlying fund. Underlying Fund Objective: The fund aims to track as closely as possible the performance of the Dow Jones Islamic Market Titans 100 Index (the Islamic Index). The Index is comprised of the shares of companies in emerging and developed markets that are based anywhere in the world. The fund will be passively managed and will aim to invest in the shares of the companies in generally the same proportion as in the Index. The shares are selected by filtering the Index universe through screens for business activities and financial ratios to remove stocks that are not Shariah compliant. The fund will only invest in shares of companies that meet Shariah compliance principles as interpreted or approved by the Shariah Committee. The Shariah Committee monitors the fund throughout the year and issues an annual Shariah certificate on the fund's compliance with Shariah principles. This certificate is included in the annual report of the fund as confirmation of the Shariah compliance for that year. The fund will not invest in derivatives.
Benchmark -
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).

The Dow Jones Islamic Titans 100 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Prudential. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); The Dow Jones Islamic Titans 100 Index is a trademark of SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Prudential. Prudential's fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the The Dow Jones Islamic Titans 100 Index.

These risk ratings have been developed by Prudential to help provide an indication of a fund’s potential level of risk and reward based on the type of assets which may be held by the fund. Other companies may use different descriptions and as such these risk ratings should not be considered as generic across the fund management industry.

We regularly review our fund risk ratings, so they may change in the future. If, in our view, there is a material change in the fund's level of risk, for example due to a significant change to the assets held by the fund or in the way the fund is managed, we will provide information on the new risk rating. We recommend that you make sure you understand the risk rating of any fund before you invest.

You should also consider discussing your decision and the appropriateness of a fund's risk rating with an adviser.

  • Higher Risk
  • Medium to Higher Risk
  • Medium Risk
  • Lower to Medium Risk
  • Lower Risk
  • Minimal Risk

Medium 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

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 Dow Jones Islamic Titans 100 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Prudential. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); The Dow Jones Islamic Titans 100 Index is a trademark of SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Prudential. Prudential's fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the The Dow Jones Islamic Titans 100 Index.

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.