Fund Changes

Our funds are always potentially subject to changes, and we want to keep you up-to-date with what's happening. You'll find information on recent changes below. We'd recommend that you visit this page for information if you are considering your investment choice. This page is for information purposes only. Please speak to your adviser if you require any more information.

  • August 2014
    Prudential Investec Global Free Enterprise Fund
    - Change of Name and Description

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    In August 2014 the name and investment objective of the Prudential Investec Global Free Enterprise Fund changed.

    The underlying fund manager, Investec, decided to adopt a broader investment objective because, as markets develop over time, it believed there will be fewer suitable investment opportunities in companies benefitting from privatisation, deregulation or demutualisation.

    The Prudential risk rating and fund charges remain the same.

    What's changed?

    The table below shows the changes that applied to the Prudential fund:

    Previous fund name New fund name
    Prudential Investec Global Free Enterprise Fund Prudential Investec Global Strategic Equity Fund
    Previous fund description New fund description
    The investment strategy of the fund is to purchase units in the Investec Global Free Enterprise Fund. That fund aims to achieve long term capital growth primarily through investment in equities and related derivatives issued by companies around the globe that are expected to benefit from the process of privatisation, deregulation or demutualisation or otherwise believed to offer above average opportunities for capital gain. The investment strategy of the fund is to purchase units in the Investec Global Strategic Equity Fund. That fund aims to achieve long term capital growth primarily through investment in equities issued by companies around the globe that are believed to offer above average opportunities for capital gain, and in related derivatives.

    What current investors need to do?

    You don't need to do anything. We've written to those invested in the fund to tell them about the change.

  • August 2014
    Prudential M&G High Yield Corporate Bond Fund
    - Change of Name and Description

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    M&G changed the name of the fund underlying the Prudential M&G High Yield Corporate Bond Fund in August 2014.

    The Prudential fund's existing underlying fund strategy, Prudential risk rating and fund charges remain the same.

    What's changed?

    The table below shows the changes that applied to the Prudential fund:

    Previous fund name New fund name
    Prudential M&G High Yield Corporate Bond Fund Prudential M&G Global High Yield Bond Fund
    Previous fund description New fund description
    The investment strategy of the fund is to purchase units in the M&G High Yield Corporate Bond Fund. That fund aims to maximize total return (the combination of income and growth of capital) while generating a high level of income. The fund invests predominantly in higher yielding corporate debt instruments which may be denominated in Sterling, European currencies and other major global currencies, should the managers deem them to be appropriate investments. The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond Fund. That fund aims to maximize total return (the combination of income and growth of capital) while generating a high level of income. The fund invests predominantly in higher yielding corporate debt instruments which may be denominated in Sterling, European currencies and other major global currencies, should the managers deem them to be appropriate investments.

    What current investors need to do?

    You don't need to do anything. We've written to those invested in the fund to tell them about the change.

  • March 2014
    Prudential Cazenove UK Growth and Income Fund
    - Change of Names and Descriptions

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    Following the merger of Cazenove Capital and Schroders Investment Management, the name of the fund underlying the Prudential Cazenove UK Growth and Income Fund changed in March 2014.

    The Prudential funds' existing underlying fund strategy, Prudential risk rating and fund charges remain the same.

    What changed?

    The table below shows the changes that applied to the fund:

    Previous fund name New fund name
    Prudential Cazenove UK Growth and Income Fund Prudential Schroder Core UK Equity Fund
    Previous fund description New fund description
    The investment strategy of the fund is to purchase units in the Cazenove UK Growth and Income Fund. That fund aims to achieve long term capital and income growth through investments mainly in shares in larger UK companies but may have some investments in smaller companies. Investments will be made in UK equities, fixed interest and other securities. The investment strategy of the fund is to purchase units in the Schroder Core UK Equity Fund. That fund aims to achieve long term capital and income growth through investments mainly in shares in larger UK companies but may have some investments in smaller companies. Investments will be made in UK equities, fixed interest and other securities.

    You may continue to see the old names and fund descriptions until we have finished updating our systems and literature.

    What current investors need to do?

    They don't need to do anything. We've written to those invested in the fund to tell them about the change.

  • January 2014
    Prudential Standard Life Global Absolute Return Strategies Fund
    - Change of Investment Strategy

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    We changed the description of the investment strategy of the Prudential Standard Life Global Absolute Return Strategies Fund, in January 2014.

    The Prudential funds' investment management approach, Prudential risk rating and fund charges remain the same.

    What changed?

    The table below shows the changes that applied to each fund:

    Previous investment strategy description New investment strategy description
    The investment strategy of the fund is to purchase units in the Standard Life Global Absolute Return Strategies Fund. The objective of that fund is to provide positive investment returns in all market conditions over the medium to long term. The fund manager utilises a combination of traditional assets (such as equities and bonds) and investment strategies based on advanced derivative techniques. The fund can take long and short positions in markets, securities and groups of securities through derivative contracts. The investment strategy of the fund is to purchase units in the Standard Life Global Absolute Return Strategies Unit Trust. That Trust aims to deliver a positive absolute return in the form of capital growth over the medium to longer term in all market conditions. The level of return the Trust aims to generate over rolling three year periods is equivalent to cash plus five per cent a year, gross of fees. Invested capital is however at risk and there is no guarantee that the objective will be attained over this or any time period.

    You may continue to see the old fund descriptions until we have finished updating our systems and literature.

    What current investors need to do?

    They don't need to do anything. We've written to those invested in the fund to tell them about the change.

  • January 2014
    Prudential FP CAERUS Portfolio DRP Funds
    - Change of Names and Descriptions

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    In January 2014, the names of the Prudential FP CAERUS Portfolio DRP Funds changed.

    The funds' existing underlying fund strategy, Prudential risk rating and fund charges remain the same.

    What changed?

    The table below shows the changes that applied to each fund:

    Old fund name New fund name
    Prudential FP CAERUS Portfolio DRP 1 Life Fund Prudential FP Multi-Asset DRP III Life Fund
    Old fund description New fund description
    The investment strategy of the fund is to purchase units in the FP CAERUS Portfolio DRP 1 Fund. That fund aims to deliver long term capital growth from a broadly cautious approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its cautious objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash. The investment strategy of the fund is to purchase units in the FP Multi-Asset DRP III Fund. That fund aims to deliver long term capital growth from a broadly cautious approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its cautious objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash.
    Old fund name New fund name
    Prudential FP CAERSU Portfolio DRP 2 Life Fund Prudential FP Multi-Asset DRP V Life Fund
    Old fund description New fund description
    The investment strategy of the fund is to purchase units in the FP CAERUS Portfolio DRP 2 Fund. That fund aims to deliver long term capital growth from a broadly balanced approach to investing, whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its balanced objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash. The investment strategy of the fund is to purchase units in the FP Multi-Asset DRP V Fund. That fund aims to deliver long term capital growth from a broadly balanced approach to investing, whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its balanced objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash.
    Old fund name New fund name
    Prudential FP CAERUS Portfolio DRP 3 Life Fund Prudential FP Multi-Asset DRP VII Life Fund
    Old fund description New fund description
    The investment strategy of the fund is to purchase units in the FP CAERUS Portfolio DRP 3 Fund. That fund aims to deliver long term capital growth from a broadly motivated approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash. The investment strategy of the fund is to purchase units in the FP Multi-Asset DRP VII Fund. That fund aims to deliver long term capital growth from a broadly motivated approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash.
    Old fund name New fund name
    Prudential FP CAERUS Portfolio DRP 4 Life Fund Prudential FP Multi-Asset DRP VIII Life Fund
    Old fund description New fund description
    The investment strategy of the fund is to purchase units in the FP CAERUS Portfolio DRP 4 Fund. That fund aims to deliver long term capital growth from a broadly adventurous approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its adventurous objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash. The investment strategy of the fund is to purchase units in the FP Multi-Asset DRP VIII Fund. That fund aims to deliver long term capital growth from a broadly adventurous approach to investing whilst ensuring that the overall volatility of the portfolio remains within its set volatility band. The Fund will seek to achieve its adventurous objective through investment predominantly in a single derivative contract ("Swap"). The Fund will therefore receive a return linked to the performance of the basket of assets which underlie the Swap. The basket will contain assets that enable the return to be linked to the performance of equities, bonds and cash.

    You may continue to see the old names and fund descriptions until we have finished updating our systems and literature.

    What current investors need to do?

    They don't need to do anything. We've written to those invested in the fund to tell them about the change.


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