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Latest EGR performance announcement - February 2015

The Expected Growth Rates (EGR) for the PruFund Growth & Income Fund has changed but EGRs remain unchanged for all other funds for the next quarter. The Expected Growth Rate is the annualised rate which will be applied daily to increase the unit price of the fund. They are set quarterly by the Prudential Assurance Company Ltd (PAC) Directors, having regard to the expected long-term investment return on the assets of the fund.

Find out the latest EGR rates, historic EGR rates and historic Unit Price Adjustments (UPAs).

UNIT PRICE ADJUSTMENT (UPA) FOR ANY FUND

The smoothing rules have resulted in unit price adjustments being applied to some of the funds in the PruFund range as specified below. These adjustments were applied on 25 February 2015.

  Prudential Investment Plan
Flexible Investment Plan*
PruFund Growth Fund
PruFund Protected Growth Fund
+2.69%
PruFund 20-55 Fund +2.51%
  Flexible Retirement Plan
Trustee Investment Plan
PruFund 40-80 Pension Fund +2.61%
  Prudential International Investment Bond
International Prudence Plan
PruFund Growth (Euro) Fund
PruFund Protected Growth (Euro) Fund
+3.90%
PruFund Cautious (Euro) Fund
PruFund Protected Cautious (Euro) Fund
+2.77%
  PruFund Investment Plan**
PruFund Growth Fund +2.69%

*Closed to new business with effect from 24 December 2012.

**Closed to new business with effect from 3 August 2009.

These adjustments have been carried out in line with the disclosed smoothing rules and reinforce that the smoothing formula is behaving exactly as it was designed to.

Planholders who invested in the holding account on or after 25 November 2014 will not be impacted by these adjustments.

How does this impact on performance?

(a) Onshore Bonds

The table below shows the performance of the PruFund Growth Fund which was launched on 25 November 2004. The Fund is currently available to new business on the Prudential Investment Plan.
  Since launch
25/11/04 - 25/02/15
PruFund Growth Fund / PruFund Protected Growth Fund* 98.32%
FTSE 100*** 111.36%
FTSE All Share*** 125.16%
ABI Mixed Investment 0%-35% Shares** 48.88%
ABI Mixed Investment 20%-60% Shares** 56.37%
ABI Mixed Investment 40%-85% Shares** 80.76%

*PruFund returns shown above are gross of applicable plan charges, including AMC but net of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings. PruFund Protected Growth Fund has not been continuously available from 25/11/04.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.
***As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income.

The PruFund Cautious Fund and PruFund Protected Cautious Fund was launched on 25 August 2009. These funds are currently available to new business on the Prudential Investment Plan.

  Since launch
25/08/09 - 25/02/15
PruFund Cautious Fund / PruFund Protected Cautious* 44.68%
ABI Mixed Investment 0%-35% Shares** 36.60%
ABI Mixed Investment 20%-60% Shares** 41.49%

*PruFund returns shown above are gross of applicable plan charges, including AMC but net of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.

The table below shows the performance of the PruFund Risk Managed Funds which were launched on 25 November 2011. These Funds are currently available to new business on the Prudential Investment Plan.

  Since launch
25/11/11 - 25/02/15
PruFund 0-30 Fund* 23.60%
PruFund 10-40% Fund* 27.69%
PruFund 20-55% Fund* 33.31%
PruFund 40-80% Fund* 36.24%
FTSE100*** 50.94%
FTSE All Share*** 56.99%
ABI Mixed Investment 0%-35% Shares** 21.67%
ABI Mixed Investment 20%-60% Shares** 27.65%
ABI Mixed Investment 40%-85% Shares** 37.63%

*PruFund returns shown above are gross of applicable plan charges, including AMC but net of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.
***As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested.

(b) Pensions

The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates.

  Since launch
25/11/08 - 25/02/15
PruFund Growth Pension Fund / PruFund Protected Growth Pension Fund* 84.90%
FTSE 100*** 108.71%
FTSE All Share*** 124.14%
ABI Mixed Investment 0%-35% Shares** - Pensions 57.27%
ABI Mixed Investment 20%-60% Shares** - Pensions 72.87%
ABI Mixed Investment 40%-85% Shares** - Pensions 89.50%

*PruFund returns shown above are gross of applicable plan charges, including AMC and gross of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings. PruFund Protected Growth Pension Fund has not been continuously available from 25/11/08.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested and gross of fund tax.
***As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested.

  Since launch
25/11/09 - 25/02/15
PruFund Cautious Pension Fund / PruFund Protected Cautious Pension Fund* 49.20%
ABI Mixed Investment 0%-35% Shares** 38.32%
ABI Mixed Investment 20%-60% Shares** 41.92%

*PruFund returns shown above are gross of applicable plan charges, including AMC and gross of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested and gross of fund tax.

The table below shows the performance of the PruFund Risk Managed Pension Funds which were launched on 25 November 2011. These Funds are currently available on Flexible Retirement Plan and Trustee Investment Plan.

  Since launch
25/11/11 - 25/02/15
PruFund 0-30% Pension Fund* 31.70%
PruFund 10-40% Pension Fund* 34.30%
PruFund 20-55% Pension Fund* 40.60%
PruFund 40-80% Pension Fund* 45.70%
FTSE100*** 56.99%
FTSEAll Share*** 50.94%
ABI Mixed Investment 0%-35% Shares - Pensions** 25.26%
ABI Mixed Investment 20%-60% Shares - Pensions** 32.51%
ABI Mixed Investment 40%-85% Shares - Pensions** 41.93%

*PruFund returns shown above are gross of applicable plan charges, including AMC and gross of tax. Other Fund performances reflected above may allow for AMC where this is included in the unit price. PruFund Funds, and the underlying With-Profits Fund, are not classified by the ABI, and don't form part of the selected sectors, but we have chosen to compare our Fund to these on the basis of the similarities in Equity holdings.
**As at close of business 24th February 2015. Source: Financial Express, bid to bid, net income reinvested and gross of fund tax.
***As at close of 24th February 2015. Source: Financial Express, bid to bid, net income reinvested.

(c) Prudential ISA

Prudential ISA launched on 26 February 2015. We will provide past performance when we have at least one year's performance details.

(d) Prudential International

The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates.

In addition, the Euro and US Dollar variants of the funds will have different performance as they are invested in appropriate assets relative to the denomination of the fund.

  Since launch
25/11/08 - 25/02/15
PruFund Growth (Sterling) Fund / PruFund Protected Growth (Sterling) Fund 84.90%
PruFund Growth (Euro) Fund / PruFund Protected Growth (Euro) Fund 80.12%
PruFund Growth (US Dollar) Fund / PruFund Protected Growth (US Dollar) Fund 113.17%

PruFund Protected Growth Funds have not been continuously available from 25/11/08.

  Since launch
25/11/09 - 25/11/14
PruFund Cautious (Sterling) Fund / PruFund Protected Cautious (Sterling) Fund 49.20%
PruFund Cautious (Euro) Fund / PruFund Protected Cautious (Euro) Fund 45.21%
PruFund Cautious (US Dollar) Fund / PruFund Protected Cautious (US Dollar) Fund 50.44%

PruFund returns shown above are gross of applicable product charges, including AMC.

For UK Adviser Use Only - Not Approved For Use With Clients