Updates to Workplace Pension funds
We update our Workplace Pension funds from time to time. You'll find information on the latest changes below.
Prudential Dynamic Growth (PDG) Funds – changes to SAA
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.|
Equity – UK, North America, Europe, Japan, Asia
Fixed Income – UK Corporate Bonds, Global High Yield Cash
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|