Previous benchmark |
Updated benchmark |
|---|---|
FTSE All-Share Index |
FTSE Custom All-Share ex IT Exclusions 5% Capped Index |
Previous objective |
Updated objective |
Objective: The investment strategy of the fund is to purchase units in the M&G UK Sustain Paris Aligned Fund - the underlying fund. Underlying Fund Objective: The fund has two aims:
At least 80% of the fund is invested directly in equities and equity related securities of companies, across any sector and of any size, which are incorporated, domiciled or do most of their business, in the UK. The fund is concentrated and usually holds shares in fewer than 50 companies. The fund invests in securities that meet the ESG Criteria and Sustainability Criteria. The following types of exclusions apply to the fund's direct investments: - Norms-based exclusions: investments that are assessed to be in breach of commonly accepted standards of behaviour related to human rights, labour rights, environment and anti-corruption. - Sector-based and/or values-based exclusions: investments and/or sectors exposed to business activities that are assessed to be damaging to human health, societal wellbeing, the environment, or otherwise assessed to be misaligned with the fund's sector-based and/or values based criteria. Other exclusions: investments assessed to be otherwise in conflict with the ESG Criteria and Sustainability Criteria. |
Objective: The investment strategy of the fund is to purchase units in the M&G UK Sustain Paris Aligned Fund - the underlying fund. Underlying Fund objective: The Fund aims to:
*The overarching Paris Agreement climate change goal is to hold the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels. The principal way to achieve this is to avoid the buildup of greenhouse gases, which in turn will prevent the most severe impacts of climate change, such as extreme weather events, sea-level rise, and biodiversity loss. **The long term target is for investments made by the Fund to reach Net Zero by 2050. Derivatives may be used for Efficient Portfolio Management and hedging. |
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.
The fund manager, M&G, applied a Sustainability “Improvers” label to the UK Sustain Paris Aligned fund as part of the Sustainability Disclosure Requirements (SDR). As a result of this, the fund objective and benchmark changed to enhance and clarify the Fund’s ESG-related disclosures.
The fund will continue to be managed in the same way, there is no change to the Prudential risk rating or fund charges.
What changed?
The table below shows the details of the changes:
The fund manager, M&G, applied a Sustainability “Improvers” label to the underlying M&G European Sustain Paris Aligned fund as part of the Sustainability Disclosure Requirements (SDR). As a result of this, the fund objective changed, to enhance and clarify the Fund’s ESG-related disclosures.
The fund will continue to be managed in the same way, there is no change to the Prudential risk rating or fund charges.
What changed?
The table below shows the details of the changes:
Previous objective |
Updated objective |
|---|---|
Objective: The investment strategy of the fund is to purchase units in the M&G European Sustain Paris Aligned Fund - the underlying fund. Underlying Fund Objective: The fund has two aims:
At least 80% of the fund is invested directly in equity securities and equity-related securities of companies across any sector and market capitalisation that are incorporated, domiciled, or listed in Europe, excluding the UK. The fund has a concentrated portfolio and usually holds fewer than 35 companies. The fund invests in securities that meet the ESG Criteria and Sustainability Criteria. The following types of exclusions apply to the fund's direct investments: Norms-based exclusions: investments that are assessed to be in breach of commonly accepted standards of behaviour related to human rights, labour rights, environment and anti-corruption. Sector-based and/or values-based exclusions: investments and/or sectors exposed to business activities that are assessed to be damaging to human health, societal wellbeing, the environment, or otherwise assessed to be misaligned with the Fund's sector-based and/or values-based criteria. Other exclusions: investments assessed to be otherwise in conflict with the ESG Criteria and Sustainability Criteria. |
Objective: The investment strategy of the fund is to purchase units in the M&G European Sustain Paris Aligned Fund - the underlying fund. Underlying Fund Objective: The Fund aims to:
*The overarching Paris Agreement climate change goal is to hold the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels. The principal way to achieve this is to avoid the buildup of greenhouse gases, which in turn will prevent the most severe impacts of climate change, such as extreme weather events, sea-level rise, and biodiversity loss. **The long term target is for investments made by the Fund to reach Net Zero by 2050. |
The fund manager, M&G, applied a Sustainability “Improvers” label to the M&G Global Sustain Paris Aligned fund as part of the Sustainability Disclosure Requirements (SDR). As a result of this, the fund objective is changing which is intended to enhance and clarify the Fund’s ESG-related disclosures.
The fund will continue to be managed in the same way, there is no change to the Prudential risk rating or fund charges.
What changed?
The table below shows the details of the changes:
Previous objective |
Updated objective |
|---|---|
Objective: The investment strategy of the fund is to purchase units in the M&G Global Sustain Paris Aligned Fund - the underlying fund. Underlying Fund Objective: The fund has two aims:
At least 80% of the fund is invested directly in equity securities and equity-related securities of companies across any sector and market capitalisation that are domiciled in any country, including Emerging Markets. The fund has a concentrated portfolio and usually holds fewer than 40 companies. The fund invests in securities that meet the ESG Criteria and Sustainability Criteria. The following types of exclusions apply to the fund's direct investments: - Norms-based exclusions: investments that are assessed to be in breach of commonly accepted standards of behaviour related to human rights, labour rights, environment and anti-corruption. - Sector-based and/or values-based exclusions: investments and/or sectors exposed to business activities that are assessed to be damaging to human health, societal wellbeing, the environment, or otherwise assessed to be misaligned with the fund's sector-based and/or values-based criteria. - Other exclusions: investments assessed to be otherwise in conflict with the ESG Criteria and Sustainability Criteria. |
Objective: The investment strategy of the fund is to purchase units in the M&G Global Sustain Paris Aligned Fund - the underlying fund. Underlying Fund Objective: The Fund aims to:
*The overarching Paris Agreement climate change goal is to hold the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursue efforts to limit the temperature increase to 1.5 °C above pre-industrial levels. The principal way to achieve this is to avoid the buildup of greenhouse gases, which in turn will prevent the most severe impacts of climate change, such as extreme weather events, sea-level rise, and biodiversity loss. **The long term target is for investments made by the Fund to reach Net Zero by 2050. **The long term target is for investments made by the Fund to reach Net Zero by 2050. Derivatives may be used for Efficient Portfolio Management and hedging. |
Following a strategic asset allocation review, we have updated the objectives of PAC funds. The changes are to provide greater clarity, there is no change to the way the funds are managed.
What changed?
The table below shows the details of the changes:
Prudential Managed Pension Fund |
|
|---|---|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK and overseas equities, fixed interest and commercial property. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equities, bonds, property, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential Managed (exSA) S1 |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK and overseas equities, fixed interest and commercial property. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equities, bonds, property, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential Prufund Managed Life Fund (pre91) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK and overseas equities, fixed interest and commercial property. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equities, bonds, property, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential Managed Life Fund (exM&G) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK and overseas equities, fixed interest and commercial property. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equities, bonds, property, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential Managed Pension Fund (exM&G) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK and overseas equities, fixed interest and commercial property. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equities, bonds, property, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential International (ex M&G) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (5 to 10 years or more) by investing in a well-diversified and balanced spread of world equity markets including UK, Europe, North America, Asia-Pacific, Emerging Markets and other regions. The geographic split of assets is reviewed regularly and is achieved predominantly through investment in collective investment schemes. The balanced spread of equity markets, and the associated performance the fund generates, may differ from other global equity funds that could be more closely aligned to global equity index benchmarks. |
The investment strategy of the fund is to provide medium to long-term growth (5 to 10 years or more) by investing in a well-diversified and balanced spread of world equity markets including UK, Europe, North America, Asia-Pacific, Emerging Markets and other regions. The geographic split of assets is reviewed regularly and is achieved predominantly through investment in collective investment schemes. The balanced spread of equity markets, and the associated performance the fund generates, may differ from other global equity funds that could be more closely aligned to global equity index benchmarks. Derivative instruments may be used for efficient portfolio management. |
Prudential International (exSA) S1 |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide medium to long-term growth (5 to 10 years or more) by investing in a well-diversified and balanced spread of world equity markets including UK, Europe, North America, Asia-Pacific, Emerging Markets and other regions. The geographic split of assets is reviewed regularly and is achieved predominantly through investment in collective investment schemes. The balanced spread of equity markets, and the associated performance the fund generates, may differ from other global equity funds that could be more closely aligned to global equity index benchmarks. |
The investment strategy of the fund is to provide medium to long-term growth (5 to 10 years or more) by investing in a well-diversified and balanced spread of world equity markets including UK, Europe, North America, Asia-Pacific, Emerging Markets and other regions. The geographic split of assets is reviewed regularly and is achieved predominantly through investment in collective investment schemes. The balanced spread of equity markets, and the associated performance the fund generates, may differ from other global equity funds that could be more closely aligned to global equity index benchmarks. Derivative instruments may be used for efficient portfolio management. |
Prudential M&G PPP Pension Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide long term growth (the combination of income and growth of capital) by investing mainly in a spread of equity markets throughout the world, predominantly through collective investment schemes. |
The investment strategy of the fund is to provide medium to long term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a spread of equity markets throughout the world, predominantly through collective investment schemes. Derivative instruments may be used for efficient portfolio management. |
Prudential Managed Distribution |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to deliver capital growth and produce a regular income over the longer term by investing mainly in sterling denominated equities, bonds and property via collective investment schemes. |
The investment strategy of the fund is to deliver capital growth and produce a regular income over the longer term by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in sterling denominated equities, property and bonds with the remainder in overseas property, overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential (ScotAm) Distribution Life Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide income with the potential for capital growth by investing in a number of collective investment schemes. The fund will typically have exposure to a range of asset types, including UK equities, sterling denominated Corporate Bonds and commercial property. |
The investment strategy of the fund is to provide income with the potential for capital growth by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in sterling denominated equities, property and bonds with the remainder in overseas property, overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential Managed Distribution Pension Fund |
|
Previous objective |
Updated objective |
The Investment strategy of the fund is to deliver long term growth (the combination of income and capital growth) by investing mainly in sterling denominated equities, bonds and property via collective investment schemes. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in sterling denominated equities, property and bonds with the remainder in overseas property, overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential 0-35% Equity Managed Distribution (Inc) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide a regular income, whilst achieving long-term growth and seeking to limit capital volatility by investing mainly in assets such as bonds, property and UK equities via collective investment schemes. No more than 35% of the fund will be invested in equities at any time. |
The investment strategy of the fund is to provide a regular income, whilst achieving long-term growth and seeking to limit capital volatility by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equity, bonds, property and alternative assets. No more than 35% of the fund will be invested in equities at any time. Derivative instruments may be used for efficient portfolio management. |
Prudential UK Equity and Bond Life Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide long term growth (the combination of income and capital growth) by investing mainly in UK equities and sterling denominated Corporate Bonds via collective investment schemes. |
The investment strategy of the fund is to provide a regular income, whilst achieving long-term growth and seeking to limit capital volatility by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including equity, bonds, property and alternative assets. No more than 35% of the fund will be invested in equities at any time. Derivative instruments may be used for efficient portfolio management. |
Prudential UK Equity and Bond Pension Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide long term growth (the combination of income and capital growth) by investing mainly in UK equities and sterling denominated Corporate Bonds via collective investment schemes. |
The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital over 5 to 10 years or more) by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset types, including at least 90% in UK equities and sterling denominated bonds, with the remainder in overseas bonds, alternative assets and other asset classes. Derivative instruments may be used for efficient portfolio management. |
Prudential High Yield Distribution (ex M&G) |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide an above-average income. The fund is based on distribution units whereby the net income is used to increase the number of units allocated. The fund invests mainly in UK equities and sterling denominated Corporate Bonds via collective investment schemes. |
The investment strategy of the fund is to provide an above average level of income by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in UK equities and sterling denominated bonds, with the remainder in overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential (ScotAm) Prudence Inheritance Capital Life Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide income with the potential for capital growth by investing in UK Equities and Corporate Bonds. |
The investment strategy of the fund is to provide income with the potential for capital growth over the long-term by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in UK equities and sterling denominated bonds, with the remainder in overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
Prudential M&G Income and Growth Life Fund |
|
Previous objective |
Updated objective |
The investment strategy of the fund is to provide a combination of income and capital growth by investing in a mixed portfolio of mainly UK and overseas equities, sterling Denominated Corporate Bonds and Gilts. The fund is an actively managed fund of funds, investing in collective investment schemes. The fund may also hold cash deposits depending on the investment conditions. |
The investment strategy of the fund is to provide a combination of income and capital growth by investing mainly in a broad spread of collective investment schemes. The fund will have exposure to a range of asset classes, including at least 80% in UK and overseas equities and sterling denominated bonds, with the remainder in overseas bonds, alternative assets and other asset types. Derivative instruments may be used for efficient portfolio management. |
These Prudential funds invest in an underlying fund managed by Stewart investors. The manager has made changes to the underlying fund’s name, to remove the word ‘sustainability’. As a result, we made the changes to our funds.
There are no changes to the Prudential risk rating or fund charges.
What changed?
The table below shows the details of the changes:
| Current Name | Proposed new name |
|---|---|
Prudential FRIA Stewart Investors Asia Pacific Leaders Sustainability |
Prudential FRIA Stewart Investors Asia Pacific Leaders |
| Prudential Stewart Investors Asia Pacific Leaders Sustainability Ser A | Prudential Stewart Investors Asia Pacific Leaders Ser A |
What’s changing?
In October 2023 we wrote to let you know that M&G Investments were suspending the M&G Property Portfolio Fund, and that meant we had to suspend our Prudential M&G Property Portfolio Funds too.
The Financial Conduct Authority (FCA) has now given approval for the underlying M&G Property Portfolio Fund to wind up and the fund will be closed. This means we have to close our versions of this fund, our Prudential M&G Property Portfolio Funds, will close on the 25 October 2024.
When we close a fund, we offer our selected replacement fund. We aim to keep the fund costs and charges the same or lower. And in this case the replacement fund overall charges are lower. But the Annual Management Charge (AMC) is higher.
What current investors need to do?
We’re writing to those invested in the closing funds. They can chose to move to another fund, or they can do nothing and we’ll move their investment into our suggested replacement fund.
More information
Not sure which fund series you’re invested in? Check your letter, your annual plan statement, or speak to your financial adviser.
If you are invested via the Prudential Investment Plan (Post R Day) or Prudence Inheritance Bond you’ll find more detailed information here
What’s changing?
We regularly review the funds we offer, and we’ve decided to close the Prudential Baillie Gifford High Yield Bond and Prudential Invesco Managed Growth Life and Pension Funds on 25 October 2024.
Closing a fund is not an option we take lightly. We’ll close funds, when our confidence in how consistent returns will be produced in the future has significantly reduced.
When we close a fund, we offer our selected replacement fund. We aim to keep the fund costs and charges the same or lower. In this case, the replacement fund charges are all lower.
What current investors need to do?
We’re writing to those invested in the closing funds. They can chose to move to another fund, or they can do nothing and we’ll move their investment into our suggested replacement fund.
More information
Not sure which fund series you’re invested in? Check your letter, your annual plan statement, or speak to your financial adviser.
If you are invested via the Prudential Investment Plan (Post R Day) or Prudence Inheritance Bond you’ll find more detailed information here.
© Prudential 2025
"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at 5 Central Way, Kildean Business Park, Stirling, FK8 1FT. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc which is a holding company registered in England and Wales with registered number 11444019 and registered office at 10 Fenchurch Avenue, London EC3M 5AG, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.