Updates to our Workplace Pension funds

We update our funds from time to time. You'll find information on the latest changes below.

21 November 2019 fund closures

As part of our commitment to our customers, we’ve recently carried out a review across our fund range to make sure they are performing as we would expect and to make the options available to you simpler.

So we’ve decided to close some funds on 21 November 2019 and are proposing an alternative selection of funds for customers to invest in. If you’re invested in any of these closing funds, we’ll send you more information about the changes.

Closing and alternative funds

Closing fund Alternative fund
M&G Recovery Prudential UK Equity
M&G Total Return Credit Investment Prudential All Stocks Corporate Bond
Schroder Dynamic Multi Asset Prudential Dynamic Growth II
Schroder QEP Global Core Prudential International Equity

We regularly review the assets we invest in. We want to make sure we’re giving you a good outcome for your investment, looking ahead to how assets might behave longer term.

As part of this process we’ve made changes to the areas where the PDG funds invest for the longer term (we call this the Strategic Asset Allocation of the fund or SAA).

We believe the changes will improve investment outcomes through diversifying into a wider range of global assets both within the fixed income and equity markets. These changes won’t have an effect on the Prudential fund’s investment objective, Prudential risk rating or the fund charges.

A closer look at what’s changed:

From 1 February 2019, the SAA of the PDG funds changed to invest more into overseas fixed income and global emerging market (GEM) equities. Previously, the funds fixed income assets were concentrated in the UK and there was no exposure to GEM equities. This should allow the funds to cope better with market shocks and reduces the overall risk they are exposed to.

Previous SAA

Equity – UK, North America, Europe, Japan, Asia

Fixed Income – UK Corporate Bonds, Global High Yield Cash

New SAA

Equity – UK, North America, Europe, Japan, Asia, GEM

Fixed Income – UK Corporate Bonds, Overseas Corporate Bonds (US, Asia, Europe), Global High Yield

As part of our commitment to our customers, we’ve recently carried out a review across our fund range to make sure they are performing as we would expect and to make the options available to you simpler.

So we’ve decided to close some funds on 5 December 2018 and are proposing an alternative selection of funds for customers to invest in. If you’re invested in any of these closing funds, we’ll send you more information about the changes.

Closing and Alternative Funds

Closing Fund Alternative Fund Reason for Closure
Prudential M&G Global Emerging Markets S3 Prudential BlackRock Aquila Emerging Market Equity S3 Fund management considerations
Prudential Defensive S3 Prudential Absolute Return S3 Simplifying the fund range
Prudential JP Morgan Diversified Alternative Beta S3 Prudential Absolute Return S3 Simplifying the fund range
Prudential M&G Episode Allocation S3 Prudential Absolute Return S3 Simplifying the fund range
Prudential Diversified Growth S3 Prudential Discretionary S3 Simplifying the fund range
Prudential JP Morgan UK Specialist Equity S3 Prudential Baillie Gifford UK Equity Core S3 Simplifying the fund range
Prudential Standard Life UK Equity Select S3 Prudential Baillie Gifford UK Equity Core S3 Simplifying the fund range
Prudential Standard Life Ethical S3 Prudential LGIM Ethical Global Equity Index S3 Simplifying the fund range
Prudential Newton UK Income S3 Prudential Newton UK Equity S3 Fund management considerations

 

Need help? Have questions?

If you're looking for further information or want to chat about your product options, we can help.

Contact us