Through our International Prudence Bond (IPB) your clients can choose to invest in the PAC With-Profits Range of Funds, the PruFund Range of Funds or the Risk Managed Active Range.
Access to the Prudential PAC Sterling, PAC Euro and PAC US Dollar With-Profits Funds is no longer available to new customers investing in International Prudence Bond (IPB) post 11/09/2017.
However, if you have an existing customer pre 11/09/2017, they will still be able to top up or switch into the Prudential With-Profits PAC Sterling, PAC Euro and PAC US Dollar Funds.
It is important to note we are not closing the Prudential With-Profits Fund. The underlying fund and ongoing management of the fund will remain the same and access will continue to be available to the With-Profits Fund through the PruFund range of funds.
Reference to With-Profits on this page is only applicable to policyholders pre 11/09/17.
These documents are provided for the products listed below and the funds that are available to new investors through these products.
There are changes to the regulations that outline what should be included in these documents. These changes should be in place from the 1 January 2023. Unfortunately making these changes has not been possible for some funds.
Products sold in the EU (the International Prudence Bond)
Where this is the case we’re still showing the portfolio transaction cost figure the fund manager provided to us before the regulations changed. The new calculation approach may produce a figure that is higher than the one we are showing.
Products sold in the UK (all other products except the International Prudence Bond)
Where the manager of the fund has, so far, not been able to provide us with information to include we’re still providing the document in the pre-regulatory change format. You can tell which documents those are as the ‘Updated’ date, which is shown below the document name, will be before 1 December 2022. If you are using documents in the pre-regulatory change format then please explain to your client that there are differences between the old and new formats. Also, portfolio transaction cost figures provided in Key Information Documents may be impacted if they are based on a mix of pre and post regulatory change calculated figures. The new calculation approach may produce figures that are higher than ones we are showing.
We’re working with the relevant fund managers to get the information we need to update those documents as soon as possible.