Updates to our Workplace Pension funds

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

Fund closures

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

So we’ve decided to close some funds. We’ll do this in three stages - 21 November 2019, 20 February and 26 March 2020. We’re 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

21 November 2019

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

20 Feb 2020

Closing fund

Alternative fund

Aberdeen Life Multi-Asset

Prudential Discretionary

BNY Mellon UK Equity-formerly Prudential Newton UK Equity

Prudential UK Equity

BlackRock Ascent European Equity

Prudential Europe Equity Passive

Prudential Absolute Return

Prudential Dynamic Growth IV

BlackRock Aquila Market Advantage

Prudential Dynamic Growth IV

BlackRock Aquila Sterling Government Liquidity

Prudential Cash

Prudential Ethical Fund

Prudential Positive Impact Fund*

Prudential International Bond

Prudential Long Term Bond

26 March 2020

Closing fund

Alternative fund for all closing funds

BlackRock Aquila (50:50) Global Equity Index

 

 

Prudential Dynamic Global Equity Passive*

BlackRock Aquila (60:40) Global Equity Index

BlackRock Aquila (30:70) Currency Hedged Global Equity Index

Prudential Global Equity Passive

BlackRock Aquila (40:60) Global Equity

Fund launches

We will be launching the two new funds shown below. 

Fund

Launch date

Prudential Positive Impact Fund 

20 February 2020

Prudential Dynamic Global Equity Passive

26 March 2020

We will update fund guides when we make these changes. *The fund factsheet for the funds we’re launching  will be available once the funds launch.

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

 

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