Pension and Investment fund updates

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.

This fund invests in a fund managed by M&G. M&G have decided to change the investment objective and policy of the M&G Smaller Companies, these changes are intended to clarify what the fund sets out to do while allowing the fund manager the flexibility he needs. As a result, we have changed the objective of the Prudential version of the funds.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The fund invests in smaller companies, where good management can have most impact on earnings. Investment in such shares can offer prospects of above average capital growth. Income is not a major factor and the yield can be expected to be less than that of the FTSE All-Share Index.

The fund aims to deliver a higher total return (the combination of capital growth and income) than the Numis Smaller Companies Index (excluding Investment Companies), net of the Ongoing Charge Figure, over any five year period.

At least 80% of the fund is invested in the UK smaller companies. These are UK listed companies which, at the initial time of purchases, are:

  • in the bottom 10% (by market capitalisation) of the FTSE All-Share Index, or
  • in the Numis Smaller Companies Index (excluding Investment Companies), or
  • listed on the Alternative Investment Market

The fund may also invest in collective investment schemes and other transferrable securities. Cash and near cash may be held for ancillary purposes and derivatives, including warrants, may be used for efficient portfolio management and hedging purposes.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

This fund invests in a fund managed by Baillie Gifford. Baillie Gifford have decided to update the wording of the investment objective and policy of the fund in order to more clearly explain the way that the Fund invests. As a result, we have changed the objective of the Prudential version of the funds.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the Baillie Gifford American Fund. That fund aims to produce attractive returns over the long term principally through investment, whether direct or indirect, in any economic sector in the United States of America. From time to time, at the fund operator’s sole discretion, investment, whether direct or indirect, may also be made in any economic sector in Canada. Up to (but no more than) 10% in value of the Fund may be invested in each of the following: collective investment schemes and deposits.

The investment strategy of the fund is to purchase units in the Baillie Gifford American Fund. The objective is to produce capital growth over the long term.

The Sub-fund will invest principally in equities of companies which are listed, quoted, traded, incorporated, domiciled or conducting a significant portion of their business in the United States of America. Such investment may be direct or indirect and the portfolio will be concentrated. The Sub-fund may also invest in other equities, cash and near cash. Up to (but no more than) 10% in value of the Sub-fund may be invested in each of the following: (1) collective investment schemes, including those managed or operated by the ACD and (2) deposits.  The Sub-fund will be actively managed and investment may be made in any economic sector.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

This fund invests in a fund managed by M&G. M&G have decided to change the way the investment objective and policy of the fund is described.

This includes splitting the combined objective and policy into separate statements of the investment objective and investment policy. The new objective is intended to clarify what the fund sets out to do. The new investment policy provides greater detail on the type of assets available to the fund manager and the limits within which the fund is managed.

The fund also moved IA sector from the IA Global sector to the IA Flexible sector, as the IA Flexible sector is considered more appropriate for the fund.

As a result, we have changed the objective, policy and sector information for the Prudential version of the funds.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The portfolio is normally limited to shares of investment trust companies. These shares provide a wide spread of investments in the UK and overseas stockmarkets and are often available at substantial discounts in relation to underlying asset values. Income is not a major factor, and the yield can be expected to be slightly less than the average for investment trust companies. The fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charges Figure, than that of the FTSE All-Share Equity Investment Instruments Index over any five-year period.

At least 80% of the fund is invested in the shares of investment trust companies. While these stocks are listed in the UK, such assets will be used to give exposure to a wide range of international markets. These investment trust companies may also hold a broad range of investment asset classes including equities, real estate and debt.

The fund may also invest in other transferable securities directly or via collective investment schemes, and may hold cash for liquidity purposes. Collective investment schemes may include funds managed by M&G. Derivatives may be used for efficient portfolio management and hedging purposes.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Focused Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic Focused 20-55 Portfolio. That fund aims to achieve a long-term total return (the combination of income and growth of capital) by investing mainly in collective investment schemes. Between 20% and 55% of the fund will be invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic Focused 20-55 Portfolio. That fund aims to achieve a long-term total return (the combination of income and growth of capital) by investing mainly in collective investment schemes. Between 20% and 55% of the fund will be invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Focused Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic Focused 0-30 Portfolio. That fund aims to achieve a long-term total return (the combination of income and growth of capital) by investing mainly in collective investment schemes. No more than 30% of the fund will be invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic Focused 0-30 Portfolio. That fund aims to achieve a long-term total return (the combination of income and growth of capital) by investing mainly in collective investment schemes. No more than 30% of the fund will be invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic 60-100 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global equities, fixed interest and variable rate assets, immovable property and/or cash, deposits, warrants and money market instruments. Typically the portfolio will have a high exposure to assets providing potential for growth, such as equities, with between 60% and 100% of the portfolio being invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic 60-100 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global equities, fixed interest and variable rate assets, immovable property and/or cash, deposits, warrants and money market instruments. Typically the portfolio will have a high exposure to assets providing potential for growth, such as equities, with between 60% and 100% of the portfolio being invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic 40-80 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global equities, fixed income and variable rate assets, immovable property and/or cash, deposits, warrants and money market instruments. Typically the portfolio will have a bias towards assets providing potential for growth, such as equities, with between 40% and 80% of the portfolio being invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic 40-80 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global equities, fixed income and variable rate assets, immovable property and/or cash, deposits, warrants and money market instruments. Typically the portfolio will have a bias towards assets providing potential for growth, such as equities, with between 40% and 80% of the portfolio being invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic 20-55 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. From time to time, however, the portfolio may have a high exposure to equities and/or fixed assets, with between 20% and 55% of the portfolio being invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic 20-55 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. From time to time, however, the portfolio may have a high exposure to equities and/or fixed assets, with between 20% and 55% of the portfolio being invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic 10-40 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. Typically the portfolio will have a bias towards lower risk assets such as fixed income assets, cash, deposits, warrants and money market instruments but will always have some exposure to equities, with between 10% and 40% of the portfolio being invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic 10-40 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. Typically the portfolio will have a bias towards lower risk assets such as fixed income assets, cash, deposits, warrants and money market instruments but will always have some exposure to equities, with between 10% and 40% of the portfolio being invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the sale of Capita’s Financial Services division, including Capita Asset Services, to the Link Group, the objectives of the Dynamic Portfolios have been updated to show the prefix LF Prudential Dynamic instead of CF Prudential Dynamic.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the CF Prudential Dynamic 0-30 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. Typically the portfolio will have a high exposure to lower risk assets such as fixed income assets, cash, deposits, warrants and money market instruments with no more than 30% of the portfolio being invested in schemes whose predominant exposure is to equities. The investment strategy of the fund is to purchase units in the LF Prudential Dynamic 0-30 Portfolio. That portfolio aims to achieve long-term total return (the combination of income and growth of capital). It is an actively managed portfolio investing mainly in collective investment schemes in order to provide a well-diversified exposure to global fixed income and variable rate assets, cash, deposits, warrants, money market instruments, equities and/or immovable property. Typically the portfolio will have a high exposure to lower risk assets such as fixed income assets, cash, deposits, warrants and money market instruments with no more than 30% of the portfolio being invested in schemes whose predominant exposure is to equities.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the merger of Janus Capital and Henderson Global investors, Janus Henderson have changed the name of all the Henderson UK-domiciled funds. This will also affect the investment objective.

As a result Prudential has changed the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Henderson Preference & Bond Fund Prudential Janus Henderson Preference & Bond Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Henderson Preference & Bond Fund. That fund aims to provide a return by investing primarily in sterling denominated preference shares, Government securities, corporate bonds, Eurobonds and other bonds. Where the Fund invests in currencies other than sterling, the Fund will always be hedged at least 80% to sterling in aggregate. The Fund may invest in other transferable securities, money market instruments, derivatives and forward transactions, deposits and units in collective investment schemes. The investment strategy of the fund is to purchase units in the Janus Henderson Preference & Bond Fund. That fund aims to provide a return by investing primarily in sterling denominated preference shares, Government securities, corporate bonds, Eurobonds and other bonds. Where the Fund invests in currencies other than sterling, the Fund will always be hedged at least 80% to sterling in aggregate. The Fund may invest in other transferable securities, money market instruments, derivatives and forward transactions, deposits and units in collective investment schemes.

 

What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the merger of Janus Capital and Henderson Global investors, Janus Henderson have changed the name of all the Henderson UK-domiciled funds. This will also affect the investment objective.

As a result Prudential has changed the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Henderson European Selected Opportunities Fund Prudential Janus Henderson European Selected Opportunities Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Henderson European Selected Opportunities Fund. That fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from European equity markets, by investing in companies registered in Europe or that carry out the majority of their business activities in these markets. The investment strategy of the fund is to purchase units in the Janus Henderson European Selected Opportunities Fund. That fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from European equity markets, by investing in companies registered in Europe or that carry out the majority of their business activities in these markets.

 

What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the merger of Janus Capital and Henderson Global investors, Janus Henderson have changed the name of all the Henderson UK-domiciled funds. This will also affect the investment objective.

As a result Prudential has changed the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Henderson European Growth Fund Prudential Janus Henderson European Growth Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Henderson European Growth Fund. That fund aims to achieve long-term capital growth through investing principally in the securities of European companies. The investment strategy of the fund is to purchase units in the Janus Henderson European Growth Fund. That fund aims to achieve long-term capital growth through investing principally in the securities of European companies.

 

What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the merger of Janus Capital and Henderson Global investors, Janus Henderson have changed the name of all the Henderson UK-domiciled funds. This will also affect the investment objective.

As a result Prudential has changed the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Henderson China Opportunities Fund Prudential Janus Henderson China Opportunities Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Henderson China Opportunities Fund. That fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from investments in Hong Kong and Chinese equity markets. The fund invests predominantly in companies registered in Hong Kong or China, or that carry out the majority of their business activities in these markets. The investment strategy of the fund is to purchase units in the Janus Henderson China Opportunities Fund. That fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from investments in Hong Kong and Chinese equity markets. The fund invests predominantly in companies registered in Hong Kong or China, or that carry out the majority of their business activities in these markets.


What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

Following the merger of Janus Capital and Henderson Global investors, Janus Henderson have changed the name of all the Henderson UK-domiciled funds. This will also affect the investment objective.

As a result Prudential has changed the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Henderson Cautious Managed Fund Prudential Janus Henderson Cautious Managed Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Henderson Cautious Managed Fund. That fund aims to provide a combination of income and long-term capital growth through investment in a diversified portfolio of equities, bonds and other related investments. The investment in equities will be limited to a maximum of 60% of the value of the fund's portfolio. The investment strategy of the fund is to purchase units in the Janus Henderson Cautious Managed Fund. That fund aims to provide a combination of income and long-term capital growth through investment in a diversified portfolio of equities, bonds and other related investments. The investment in equities will be limited to a maximum of 60% of the value of the fund's portfolio.

 

What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

This Prudential fund invests in a fund managed by Newton. In November, Newton changed the fund’s objective a result of the prolonged low interest rate and dividend paying environment both in the UK and in many other parts of the world. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the Newton Global Income Fund. That fund aims to achieve increasing annual distributions together with long-term capital growth from investing predominantly in global securities. The investment strategy of the fund is to purchase units in the Newton Global Income Fund. That fund aims to generate distributions over an annual period together with long-term capital growth from investing predominantly in global securities. The Sub-Fund may also invest in collective investment schemes (including but not limited to another Sub-Fund or Sub-Funds of the Company. Derivatives may be used for efficient portfolio management only.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

This Prudential fund invests in a fund managed by M&G. In November, M&G changed the fund’s objective to clarify what the fund sets out to do, and to make it easier for investors to determine whether they have achieved this. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the M&G Global Select Fund. That fund aims to maximise long-term total return (the combination of capital growth and income) by investing mainly in a wide range of global equities. The Fund will invest globally (including in the UK) in the equities of companies across a wide range of geographies, sectors and market capitalisations. Income is of secondary importance to capital growth when investments are selected. The Fund may at any time be concentrated in a limited number of equities.

The investment strategy of the fund is to purchase units in the M&G Global Select Fund. The fund aims to provide a total return (the combination of capital growth and income).

At least 80% of the fund is invested in companies globally across a wide range of geographies, sectors and market capitalisations. The fund has a concentrated portfolio and usually holds fewer than 40 stocks. The fund is based on an investment process that uses fundamental analysis to identify competitively advantaged companies with sustainable business models.

Sustainability considerations play an important role in determining the investment universe and assessing business models. Companies that are assessed to be in breach of the United Nations Global Compact principles on human rights, labour, environment and anti-corruption are excluded from the investment universe. Industries such as tobacco and controversial weapons are also excluded. The fund may also invest in other transferable securities, directly or via collective investment schemes, and may hold cash for liquidity purposes. Collective investment schemes may include funds managed by M&G. Derivatives may be used for efficient portfolio management.


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 changes.

Prudential decided to change the name of our fund to align it with the name provided by the manager of the underlying fund.

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

What changed?
The table below shows the details of the name change that applied to the Prudential fund:

Previous fund name

New fund name

M&G Global Basic Fund M&G Global Themes Fund


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 changes.

This Prudential fund invests in a fund managed by Schroders. In October, Schroders changed the fund’s objective to make the language used in the objective and policy consistent across Schroders’ UK fund range. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the Schroder US Mid Cap Fund. That fund aims to provide capital growth and income primarily through investment in equity securities of medium-sized US companies.

The investment strategy of the fund is to purchase units in the Schroder US Mid Cap Fund. That fund aims to provide capital growth and income by investing in equity and equity related securities of medium-sized US companies.

The fund invests at least 70% of its assets in equity and equity related securities of medium-sized US companies. These are companies that, at the time of purchase, are similar in size to those comprising the bottom 40% by market capitalisation of the North American equity market.

The fund focuses on three types of companies that the Investment Manager believes:

  • demonstrate strong growth trends and improving levels of cash;
  • generate dependable earnings and revenues; and
  • are undergoing positive change that is not being recognised by the market.

The fund may also invest in other equity or equity related securities, collective investment schemes, warrants and money market instruments, and hold cash.

The fund may use derivatives with the aim of reducing risk and managing the fund more efficiently.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

This Prudential fund invests in a fund managed by Schroders. In October, Schroders changed the fund’s objective to make the language used in the objective and policy consistent across Schroders’ UK fund range. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the Schroder UK Smaller Companies Fund. That fund aims to achieve capital growth by investing in UK smaller companies which are expected to exhibit superior growth over the long term.

The investment strategy of the fund is to purchase units in the Schroder UK Smaller Companies Fund. That fund aims to provide capital growth by investing in equity and equity related securities of small-sized UK companies.

The fund invests at least 80% of its assets in equity and equity related securities of small-sized UK companies. These are companies that are incorporated, headquartered or have their principal business activities in the UK and, at the time of purchase, are similar in size to those comprising the bottom 10% by market capitalisation of the UK equities market.

The small cap universe is an extensive, diverse and constantly changing area of the UK market. Smaller companies offer investors exposure to some niche growth areas that, often, cannot be accessed through large companies. They also tend to grow more rapidly than larger firms.

The fund may also invest in other equity and equity related securities, collective investment schemes, fixed income securities, warrants and money market instruments, and hold cash.

The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

This Prudential fund invests in a fund managed by Schroders. In October, Schroders changed the fund’s objective to make the language used in the objective and policy consistent across Schroders’ UK fund range. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the Schroder Tokyo Fund. That fund aims to achieve capital appreciation through participation in the growth of the Japanese economy.

The investment strategy of the fund is to purchase units in the Schroder Tokyo Fund. That Fund aims to provide capital growth by investing in equity and equity related securities of Japanese companies.

The fund invests at least 80% of its assets in equity and equity related securities of Japanese companies.

Investments are made based on Japan’s economic strengths, such as its manufacturing industry (in particular on those parts of it that are demonstrating an ability to exploit newly emerging technology) and on sectors benefiting from structural change in the economy.

The fund may also invest in collective investment schemes, warrants and money market instruments, and hold cash.

The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently.


What current investors need to do?

You don't need to do anything. Please speak to your financial adviser if you would like more information.

Aviva decided to covert the Trust into a PAIF so that eligible investors can enjoy the tax benefits of a PAIF and existing tax-paying investors will not be generally be adversely affected by the change. As a result it was renamed and had an updated objective.

Prudential decided to change the name and objective of our fund to align it with the name and objective of the underlying fund.

There are no changes to the fund’s Prudential risk rating or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential fund:

Previous fund name New fund name
Prudential Aviva Property Trust Fund Prudential Aviva Investors UK Property Fund
Previous fund objective New fund objective
The investment strategy of the fund is to purchase units in the Aviva Property Trust. The investment objective of that Trust is to obtain optimal returns compatible with security via income and capital appreciation primarily through investment in certain kinds of real property, property related securities, government and other public securities and units in collective investment schemes. The investment strategy of the fund is to purchase units in the Aviva Investors UK Property Fund. That fund aims to carry on Property Investment Business and to manage the cash raised from investors for investment in the Property Investment Business. In doing so, that fund’s aim is to obtain returns via income and capital appreciation.

 

What current investors need to do?
You don't need to do anything. Please speak to your financial adviser if you would like more information.

Prudential decided to change the name of our fund to align it with the name provided by the manager of the underlying fund.

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

What changed?
The table below shows the details of the name change that applied to the Prudential fund:

Previous fund name

New fund name

Prudential FRIA Invesco Perpetual UK Equity Fund

Prudential FRIA Invesco Perpetual Income Fund


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 changes.

Prudential decided to change the name of our fund to align it with the name provided by the manager of the underlying fund.

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

What changed?
The table below shows the details of the name change that applied to the Prudential fund:

Previous fund name

New fund name

Prudential FRIA M&G UK Equity Income Fund

Prudential FRIA M&G Dividend Fund


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 changes.

Until 2017, Prudential’s Property funds held some properties but also got exposure to property through investing in the M&G Property Portfolio Fund. The Prudential funds have now sold the last of the directly held properties and invest wholly in the M&G fund. As a result, we changed the names and objectives of the Prudential funds to reflect that of the M&G fund.

There are no changes to the funds’ Prudential risk ratings or fund charges.

What changed?
The table below shows the details of the name and objective changes that applied to the Prudential funds:

Previous fund names New fund names
Prudential Property Life Fund Prudential M&G Property Portfolio Life Fund
Prudential Property Life (Inc) Fund Prudential M&G Property Portfolio Life (Inc) Fund
Prudential Property (exM&G) Life Fund Prudential M&G Property Portfolio (exM&G) Life Fund
Prudential Property (exSA) Life Fund Prudential M&G Property Portfolio (exSA) Life Fund
Prudential Property (exM&G) Pension Fund Prudential M&G Property Portfolio (exM&G) Pension Fund
Prudential Property Pension Fund Prudential M&G Property Portfolio Pension Fund
Prudential FRIA Property Pension Fund Prudential FRIA M&G Property Portfolio Pension Fund
Prudential Ex-DSF Property Pension Fund Prudential Ex-DSF M&G Property Portfolio Pension Fund
Previous fund objective New fund objective
The investment strategy of the fund is to maximise long-term total return (the combination of income and growth of capital). The fund invests primarily in shops, retail warehouses, offices, industrial, warehouse property and land geographically spread throughout the UK. The fund may also invest in collective investment schemes which invest in property The investment strategy of the fund is to purchase units in the M&G Property Portfolio. That fund aims to carry on Property Investment Business and to manage cash raised from investors for investment in the Property Investment Business. In so doing, the fund aims to maximise long term total return (the combination of income and growth of capital) through investment mainly in commercial property.

 

What current investors need to do?
You don't need to do anything. We've written to those invested in the funds to tell them about the changes.

These Prudential funds invest in a fund managed by M&G. In June, M&G changed the fund’s objective to better define what the fund aims to deliver for its investors. As a result, we have changed the objective of the Prudential version of the funds.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the M&G Corporate Bond Fund. That fund aims to achieve a higher total return (the combination of income and growth of capital) from investment than would be obtainable in UK government fixed interest securities (ie gilts) of similar maturities. The fund invests mainly in sterling denominated corporate debt instruments. Any currency exposures within the fund may be managed by currency hedges into sterling.

The investment strategy of the fund is to purchase units in the M&G Corporate Bond Fund. That fund aims to provide income and capital growth. At least 70% of the fund is invested in sterling-denominated corporate debt instruments. The fund’s exposure to corporate debt may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. Any currency exposures within the fund may be managed by currency hedges into sterling. The fund may also invest in collective investment schemes, other transferable securities and other debt instruments (including corporate debt and government and public securities denominated in any currency), cash, near cash, other money market securities, warrants and other derivative instruments.


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 changes.

These Prudential funds invest in a fund managed by M&G. In June, M&G changed the fund’s objective to better define what the fund aims to deliver for its investors. As a result, we have changed the objective of the Prudential version of the funds.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the M&G Gilt & Fixed Interest Income Fund. That fund aims to provide a secure income with stability of capital consistent with investment in gilts over a rolling three to five year period. There is no guarantee that the Fund will achieve its objective over this, or any other, period.

The investment strategy of the fund is to purchase units in the M&G Gilt & Fixed Interest Income Fund. The fund aims to provide income and capital growth. At least 70% of the fund is invested in short, medium or long-dated gilts according to the fund manager’s view at any given moment of the likely course of interest rates and trend of the gilt market. The fund’s exposure to gilts may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. The fund may also invest in collective investment schemes, other transferable securities, other debt instruments, cash, near cash, other money market securities, warrants and other derivative instruments.


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 changes.

This Prudential fund invests in a fund managed by M&G. In June, M&G changed the fund’s objective to better define what the fund aims to deliver for its investors. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund name

New fund name

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.

The investment strategy of the fund is to purchase units in the M&G Global High Yield Bond Fund. That fund aims to provide income and capital growth. At least 80% of the fund is invested in higher yielding corporate debt instruments which may be denominated in sterling, European currencies and other major global currencies, should the investment managers deem them to be appropriate investments. The fund’s exposure to higher yielding corporate debt instruments may be gained through the use of derivatives and any currency exposures within the fund may be managed by currency hedges into sterling. Derivatives may also be used for efficient portfolio management. The fund may also invest in collective investment schemes, government and public securities and other transferable securities, cash, near cash, other money market instruments, warrants and other derivative instruments. More than 80% of the fund will be in sterling or hedged back to sterling.


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 changes.

This Prudential fund invests in a fund managed by M&G. In June, M&G changed the fund’s objective to better define what the fund aims to deliver for its investors. As a result, we have changed the objective of the Prudential version of the fund.

There are no changes to the way the fund is managed, its Prudential risk rating or fund charges.

What changed?
The table below shows the details of the objective change that applied to the Prudential fund:

Previous fund objective

New fund objective

The investment strategy of the fund is to purchase units in the M&G Index-Linked Bond Fund. That Fund aims to secure the value of capital and income from the effects of inflation over a rolling five year period or longer with a total return consistent with investment in Index-Linked bonds. There is no guarantee that the Fund will achieve its objective over this, or any other, period.

The investment strategy of the fund is to purchase units in the M&G Index-Linked Bond Fund. The fund aims to provide income and capital growth. At least 70% of the fund is invested in index-linked debt instruments which may be government and public securities or corporate debt instruments. Non-sterling denominated securities may be held and, if deemed appropriate by the investment manager, the associated currency risks hedged. The fund’s exposure to index-linked, government and public securities or corporate debt may be gained through the use of derivatives. Derivatives may also be used for efficient portfolio management. The fund may also invest in collective investment schemes, other transferable securities, cash, near cash, other money market securities, warrants and other derivative instruments.


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 changes.

Prudential decided to change the name of our fund to align it with the name provided by the manager of the underlying fund.

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

What changed?

The table below shows the details of the name change that applied to the Prudential fund:

Previous fund name

New fund name

Prudential South East Asia Bond Fund (ex M&G)

Prudential M&G Asian Bond Fund (ex M&G)


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 changes.

Prudential decided to change the name of our fund to align it with the name provided by the manager of the underlying fund.

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

What changed?

The table below shows the details of the name change that applied to the Prudential fund:

Previous fund name

New fund name

Prudential South East Asia Pension Fund (ex M&G)

Prudential M&G Asian Pension Fund (ex M&G)


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 changes.

Prudential decided to change the name, strategy and investment policy of this fund to bring them more into line with changes made by the manager of the underlying fund. 

The changes set a more realistic expectation for the fund’s future returns as the underlying fund manager does not anticipate a significant rise in yields from corporate bonds, which the fund is able to invest in, in the foreseeable future. 

The Prudential fund’s existing risk profile, Prudential risk rating and fund charges remain the same.
 

What changed?

The table below shows the details of the name, strategy and investment policy that applied to the Prudential fund:

Previous fund name

New fund name

Prudential UK Income Pension Acc (exM&G)

Prudential M&G UK Income Distribution Pension (exM&G)

Previous fund description

New fund description

The investment strategy of the fund is to purchase units in the M&G Extra Income Fund. That fund invests mainly in a range of UK equities with the aim of achieving a high income stream which also increases over time. The target yield is 50% higher than that of the FTSE All-Share Index but this may vary in the shorter term. Although income will be the primary consideration, the investment manager will also be mindful of total return (the combination of income and growth of capital).

The investment strategy of the fund is to purchase units in the M&G UK Income Distribution Fund.  The fund aims to increase income distributions over time and targets a yield greater than that of the FTSE All-Share Index. Although income will be the primary consideration, the investment manager will also aim for capital growth.  At least 70% of the fund will be invested in UK equities. The fund focuses on good-quality but undervalued stocks that offer a higher income than the FTSE All-Share Index by identifying those companies that exhibit the following qualities: strong business operations, good cash flows and attractive dividend growth prospects. The fund may also invest in sterling-denominated fixed income securities. Cash and near cash may be held for ancillary purposes and derivatives may be used for efficient portfolio management and hedging purposes.

 

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 changes.

 

 

Prudential decided to change the name, strategy and investment policy of this fund to bring them more into line with changes made by the manager of the underlying fund. 

The changes set a more realistic expectation for the fund’s future returns as the underlying fund manager does not anticipate a significant rise in yields from corporate bonds, which the fund is able to invest in, in the foreseeable future. 

The Prudential fund’s existing risk profile, Prudential risk rating and fund charges remain the same.

What changed?

The table below shows the details of the name, strategy and investment policy that applied to the Prudential fund:
 

Previous fund name

New fund name

Prudential Extra Income Bond Acc (exM&G)

Prudential M&G UK Income Distribution Bond (exM&G)

Previous fund description

New fund description

The investment strategy of the fund is to purchase units in the M&G Extra Income Fund. That fund invests mainly in a range of UK equities with the aim of achieving a high income stream which also increases over time. The target yield is 50% higher than that of the FTSE All-Share Index but this may vary in the shorter term. Although income will be the primary consideration, the investment manager will also be mindful of total return (the combination of income and growth of capital).

The investment strategy of the fund is to purchase units in the M&G UK Income Distribution Fund. The fund aims to increase income distributions over time and targets a yield greater than that of the FTSE All-Share Index. Although income will be the primary consideration, the investment manager will also aim for capital growth. At least 70% of the fund will be invested in UK equities. The fund focuses on good-quality but undervalued stocks that offer a higher income than the FTSE All-Share Index by identifying those companies that exhibit the following qualities: strong business operations, good cash flows and attractive dividend growth prospects. The fund may also invest in sterling-denominated fixed income securities. Cash and near cash may be held for ancillary purposes and derivatives may be used for efficient portfolio management and hedging purposes.

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 changes.

Prudential decided to change the name and update the strategy of this fund to bring them more into line with those provided by the manager of the underlying fund. 

Both changes will help ensure investors have consistent information that can be relied upon when researching and reviewing investment options.

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

What changed?

The table below shows the details of the name and fund description changes that applied to the Prudential fund: 

Previous fund name

New fund name

Prudential Fidelity South East Asia Fund

Prudential Fidelity Asia Fund

Previous fund description

New fund description

The investment strategy of the fund is to purchase units in the Fidelity Asia Fund.  That fund aims to achieve long-term capital growth through investment primarily in the shares of companies (equities) situated throughout the Pacific Basin, excluding Japan. The fund is likely to have a bias towards larger companies.

The investment strategy of the fund is to purchase units in the Fidelity Asia Fund. That fund aims to achieve long term capital growth from a portfolio made up of the shares of companies throughout the Pacific Basin, but excluding Japan. The portfolio is likely to have a bias towards larger companies. However, the fund operator is not restricted in the choice of company either by size or industry, or in terms of the geographical split of the portfolio, which is largely determined by the availability of attractive investment opportunities, rather than the outlook for each market.

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 changes.

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