Prudential Japan 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 1.3% 16.9% -14.1% 15.1% 12.4%
Benchmark 2.6% 16.9% -13.6% 14.6% 11.0%

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 1.1% 3.6% 5.6% 8.8%
Benchmark -0.2% 3.2% 5.7% 8.9%

Top 10 Holdings

Stock % Weight
TOYOTA MOTOR CORPORATION 4.45
SONY CORP 3.42
HITACHI 3.26
MITSUBISHI UFJ FINANCIAL GROUP 2.85
MITSUI & CO. 2.21
HONDA MOTOR CO. 2.18
ITOCHU CORPORATION 2.01
FAST RETAILING CO. 1.99
TOKYO ELECTRON LIMITED 1.99
MITSUI SUMITOMO INSURANCE CO. 1.97
Total 26.32

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the M&G PP Japan Equity Index Fund – the underlying fund.

Underlying fund objective: The fund gains its exposure via the M&G (ACS) BlackRock Japan Equity fund. The underlying fund aims to be fully invested in the equity securities and equity related securities of companies that are constituents of the MSCI Japan Index. Within the index-relative limits, the Investment Manager uses a structured and systematic, bottom up stock selection process to build a portfolio with similar risk-return characteristics as the index in order to meet the fund’s investment objectives. In addition to the fund’s objective, the Investment Manager aims to reflect a fundamental ESG approach by overweighting its investments in securities which score well against the Investment Manager’s ESG research framework and underweighting the securities which score less well.

Fund Manager

Richard O'Connor manager of the underlying fund for 19 years and 5 months

Photo of Richard O'Connor Richard O’Connor joined Prudential Group in July 2002 and is an index fund manager with responsibility for some 15 funds. He is also fund manager of the M&G Global Real Estate Securities Fund. He joined the business from Goldman Sachs where he worked as a consultant to the fixed income derivatives department. Prior to this, he was with Standard Corporate & Merchant Bank Asset Management (South Africa) in a research analyst role, which he held for more than three years. Richard graduated with an honours degree in investment management from Rand Afrikaans University and a bachelor of commerce degree from the University of Natal.

Fund Overview

Daily price (20/12/2024) 344.00
Fund size (31/10/2024) £4.35m
Underlying Fund size £4.42m
Number of holdings 141
Annual Management Charge (AMC) Please refer to the "Fund Guide"
for your specific pension plan
Launch date 31/03/2004

Asset Allocation

pie chart
  International Equities 96.65%
  Cash and Equivalents 1.70%
  Other Assets 1.65%

Commentary

Performance as at Q3 2024 - Japanese stocks experienced a tumultuous quarter, posting negative returns for the period. The MSCI Japan fell sharply amid fear of a stronger Yen, exacerbated by investors unwinding carry trade position in the currency. The market reaction was triggered by the Bank of Japan’s decision to raise the policy rate to 0.25%, in an effort to limit the Yen’s devaluation. Tokyo Core Inflation, a leading indicator of nationwide prices which excludes volatile fresh food costs, rose 2.0% year-on-year in September. In September, Japan’s political landscape saw major shifts due to internal controversies that ultimately led Shigeru Ishiba to take over as prime minister under heightened scrutiny. The Japanese stock market experienced increased volatility and expressed concerns around the future of the BoJ’s monetary policy. The Fund rose by +1.1% in the third quarter, outperforming the benchmark, MSCI Japan, by 1.3%. There were positive contributions from overweight positions within Industrials (Mitsubishi Heavy Industrials Ltd) and Information Technology (Fujitsu Ltd), which added 18bps and 14bps respectively. Exclusions contributed positively during the quarter. Financials and Consumer Discretionary sectors were detractors. The Fund achieved a higher ESG score and improved sustainability characteristics compared to its benchmark (as determined by the fund manager.

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 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 96.65%
  Cash and Equivalents 1.70%
  Other Assets 1.65%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Industrials 23.90% - - -
 
Industrial Goods & Services - 22.25% - -
 
General Industrials - - 6.62% -
 
Diversified Industrials - - - 6.56%
 
Paints & Coatings - - - 0.03%
 
Glass - - - 0.03%
 
Industrial Engineering - - 5.27% -
 
Machinery: Industrial - - - 2.46%
 
Machinery: Construction & Handling - - - 1.56%
 
Machinery: Agricultural - - - 1.25%
 
Industrial Support Services - - 5.22% -
 
Industrial Suppliers - - - 2.21%
 
Business Training & Employment Agencies - - - 1.78%
 
Forms & Bulk Printing Services - - - 0.90%
 
Security Services - - - 0.33%
 
Electronic & Electrical Equipment - - 3.48% -
 
Electrical Components - - - 2.01%
 
Electronic Equipment: Gauges & Meters - - - 1.47%
 
Industrial Transportation - - 1.66% -
 
Marine Transportation - - - 1.37%
 
Railroads - - - 0.27%
 
Delivery Services - - - 0.02%
 
Construction & Materials - 1.65% - -
 
Construction & Materials - - 1.65% -
 
Building: Climate Control - - - 0.85%
 
Construction - - - 0.62%
 
Building Materials: Other - - - 0.18%
 
Consumer Discretionary 20.26% - - -
 
Automobiles & Parts - 9.00% - -
 
Automobiles & Parts - - 9.00% -
 
Automobiles - - - 6.99%
 
Auto Parts - - - 1.97%
 
Tires - - - 0.04%
 
Consumer Products & Services - 6.93% - -
 
Leisure Goods - - 4.99% -
 
Consumer Electronics - - - 3.70%
 
Electronic Entertainment - - - 0.90%
 
Toys - - - 0.39%
 
Household Goods & Home Construction - - 1.60% -
 
Home Construction - - - 1.60%
 
Personal Goods - - 0.34% -
 
Footwear - - - 0.28%
 
Cosmetics - - - 0.06%
 
Retail - 1.99% - -
 
Retailers - - 1.99% -
 
Apparel Retailers - - - 1.99%
 
Travel & Leisure - 1.96% - -
 
Travel & Leisure - - 1.96% -
 
Airlines - - - 1.02%
 
Recreational Services - - - 0.89%
 
Restaurants & Bars - - - 0.05%
 
Media - 0.38% - -
 
Media - - 0.38% -
 
Media Agencies - - - 0.38%
 
Financials 14.28% - - -
 
Banks - 7.70% - -
 
Banks - - 7.70% -
 
Banks - - - 7.70%
 
Insurance - 4.52% - -
 
Non-life Insurance - - 2.85% -
 
Property & Casualty Insurance - - - 2.85%
 
Life Insurance - - 1.67% -
 
Life Insurance - - - 1.67%
 
Financial Services - 2.06% - -
 
Investment Banking & Brokerage Services - - 2.06% -
 
Investment Services - - - 1.49%
 
Diversified Financial Services - - - 0.57%
 
Technology 13.45% - - -
 
Technology - 13.45% - -
 
Technology Hardware & Equipment - - 8.83% -
 
Production Technology Equipment - - - 3.99%
 
Electronic Office Equipment - - - 2.41%
 
Electronic Components - - - 1.44%
 
Semiconductors - - - 0.88%
 
Computer Hardware - - - 0.11%
 
Software & Computer Services - - 4.62% -
 
Computer Services - - - 2.71%
 
Consumer Digital Services - - - 1.75%
 
Software - - - 0.16%
 
Health Care 8.02% - - -
 
Health Care - 8.02% - -
 
Pharmaceuticals & Biotechnology - - 5.34% -
 
Pharmaceuticals - - - 5.34%
 
Medical Equipment & Services - - 2.68% -
 
Medical Equipment - - - 1.51%
 
Medical Supplies - - - 1.17%
 
Consumer Staples 5.35% - - -
 
Personal Care, Drug & Grocery Stores - 2.75% - -
 
Personal Care, Drug & Grocery Stores - - 2.75% -
 
Food Retailers & Wholesalers - - - 1.53%
 
Personal Products - - - 1.22%
 
Food, Beverage & Tobacco - 2.60% - -
 
Food Producers - - 1.39% -
 
Food Products - - - 1.39%
 
Beverages - - 1.21% -
 
Brewers - - - 0.85%
 
Soft Drinks - - - 0.36%
 
Telecommunications 4.37% - - -
 
Telecommunications - 4.37% - -
 
Telecommunications Service Providers - - 4.37% -
 
Telecommunications Services - - - 4.37%
 
Basic Materials 3.72% - - -
 
Chemicals - 3.24% - -
 
Chemicals - - 3.24% -
 
Chemicals: Diversified - - - 1.83%
 
Chemicals & Synthetic Fibers - - - 0.91%
 
Specialty Chemicals - - - 0.50%
 
Basic Resources - 0.48% - -
 
Industrial Metals & Mining - - 0.48% -
 
Nonferrous Metals - - - 0.36%
 
Iron & Steel - - - 0.12%
 
Cash and Equivalents 1.70% - - -
 
Non-Classified 1.65% - - -
 
Real Estate 1.44% - - -
 
Real Estate - 1.44% - -
 
Real Estate Investment & Services - - 1.10% -
 
Real Estate Holding and Development - - - 1.10%
 
Real Estate Investment Trusts - - 0.34% -
 
Office REITs - - - 0.34%
 
Utilities 1.00% - - -
 
Utilities - 1.00% - -
 
Gas, Water & Multi-utilities - - 1.00% -
 
Gas Distribution - - - 1.00%
 
Energy 0.88% - - -
 
Energy - 0.88% - -
 
Non-Renewable Energy - - 0.88% -
 
Oil: Crude Producers - - - 0.50%
 
Oil Refining and Marketing - - - 0.38%

Regional Allocation

pie chart
  Japan 96.65%
  Cash and Equivalents 1.70%
  Non-Classified 1.65%

Regional Breakdown

Expand allCollapse all
Region Country
 
Japan 96.65% -
 
Japan - 96.65%
 
Cash and Equivalents 1.70% -
 
Non-Classified 1.65% -

Breakdown By Market Cap (%)

Mega
 
 
59.51%
Large
 
 
32.71%
Medium
 
 
3.81%
Non-Classified
 
 
2.27%
Cash
 
 
1.70%

Top 10 Holdings

Stock % Weight Sector Country
1 TOYOTA MOTOR CORPORATION 4.45% Automobiles & Parts Japan
2 SONY CORP 3.42% Leisure Goods Japan
3 HITACHI 3.26% General Industrials Japan
4 MITSUBISHI UFJ FINANCIAL GROUP 2.85% Banks Japan
5 MITSUI & CO. 2.21% Industrial Support Services Japan
6 HONDA MOTOR CO. 2.18% Automobiles & Parts Japan
7 ITOCHU CORPORATION 2.01% General Industrials Japan
8 FAST RETAILING CO. 1.99% Retailers Japan
9 TOKYO ELECTRON LIMITED 1.99% Technology Hardware & Equipment Japan
10 MITSUI SUMITOMO INSURANCE CO. 1.97% Banks Japan

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Technology - 13.45% - - - - - - 13.45%
Telecommunications - 4.37% - - - - - - 4.37%
Financials - 14.28% - - - - - - 14.28%
Real Estate - 1.44% - - - - - - 1.44%
Consumer Discretionary - 20.26% - - - - - - 20.26%
Consumer Staples - 5.35% - - - - - - 5.35%
Energy - 0.88% - - - - - - 0.88%
Utilities - 1.00% - - - - - - 1.00%
Health Care - 8.02% - - - - - - 8.02%
Industrials - 23.90% - - - - - - 23.90%
Basic Materials - 3.72% - - - - - - 3.72%
Cash and Equivalents - - - - - - - 1.70% 1.70%
Non-Classified - - - - - - 1.65% - 1.65%

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.

Identification Codes

Sedol Code 3424801
Mex Code PUPUSH
Isin Code GB0034248012
Citi Code P541

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 M&G PP Japan Equity Index Fund – the underlying fund. Underlying fund objective: The fund gains its exposure via the M&G (ACS) BlackRock Japan Equity fund. The underlying fund aims to be fully invested in the equity securities and equity related securities of companies that are constituents of the MSCI Japan Index. Within the index-relative limits, the Investment Manager uses a structured and systematic, bottom up stock selection process to build a portfolio with similar risk-return characteristics as the index in order to meet the fund’s investment objectives. In addition to the fund’s objective, the Investment Manager aims to reflect a fundamental ESG approach by overweighting its investments in securities which score well against the Investment Manager’s ESG research framework and underweighting the securities which score less well.
Benchmark MSCI Japan Index
ABI Sector Japan 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.

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

Higher Risk

These are specialist equity funds that focus on set geographical regions or a particular type of share e.g. shares of smaller companies or those that conform to certain criteria.

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).

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 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.