Changes to the PruSelect Fund Range

OBSR explain that the manager looks to understand the growth dynamics of a business, the potential for change and the extent of the undervaluation in the share price that will create value for shareholders.

OBSR explain that the team will analyse fundamental, quantitative and technical inputs across all markets. Fundamental analysis focuses on the macroeconomic outlook as well as on credit analysis. Credit analysis is based on bottom-up issuer-specific research provided by an extended and experienced credit team worldwide.

OBSR explain that the fund will be reasonably concentrated, typically comprising between 10 and 120 stocks. High yield is restricted to 20% of the fund's assets. As a global investment grade bond fund, the manager may invest in non-Sterling issues but a minimum of 80% of the portfolio will be hedged back to Sterling.

OBSR explain that the fund incorporates an underlying, diversified bond portfolio with overlay strategies through which they seek to enhance returns. The underlying bond portfolio may be invested in gilts, investment grade corporate bonds, high yield bonds and emerging market bonds (subject to fund guidelines).

OBSR explain that the manager's investment philosophy is based upon the belief that bottom-up research provides the most valuable framework around which to manage a high yield bond fund. The team aims to keep on a step ahead of market participants whose actions are driven by the decisions of the ratings agencies or by the need to match liabilities.

OBSR explain that the manager's investment process is founded on the belief that economic forecasts are frequently unreliable and therefore do not represent a sufficiently robust basis for portfolio construction. Instead, investment views are implemented through yield curve allocation (government versus credit bets), industry sector allocation, issuer credit analysis and security valuation.

OBSR explain that Threadneedle's fixed income team believes that successful investment management requires a flexible and multi-disciplined approach, recognising that sources of investment opportunity are not constant over time. The approach is therefore designed to be flexible whilst being framed by a robust process and risk control oversight.

OBSR explain that the manager's approach to stock selection is deeply contrarian, driven by the belief that cyclicality is a strong influence in virtually every sector of the market and that outperformance often follows underperformance.

OBSR explain that the manager believes that by combining rigorous and targeted financial analysis and research with embedded environmental, social and governance analysis, he is able to identify mispriced investment opportunities in companies that meet both the socially responsible objectives and the investment performance objectives of the trust.

OBSR explain that the manager believes that through a combination of thorough bottom-up research and a robust process for assessing the macro-economic environment, he is able to generate superior returns over a market cycle.

This fund had it's OBSR rating removed. Find out more.

Although this fund is being removed from the PruSelect fund range at this time it is still available for existing and new customers.

This fund had it's OBSR rating removed. Find out more.

Although this fund is being removed from the PruSelect fund range at this time it is still available for existing and new customers.

This fund had it's OBSR rating removed. Find out more.

Although this fund is being removed from the PruSelect fund range at this time it is still available for existing and new customers.

This fund had it's OBSR rating removed. Find out more.

Although this fund is being removed from the PruSelect fund range at this time it is still available for existing and new customers.

Following the announcement that Graham Birch is not returning to BlackRock from his sabbatical and that Evy Hambro will continue to assume sole responsibility for the management of the BlackTock Gold & General fund, OBSR have decided to keep the fund's AAA Rating unchanged. OBSR have known Mr Hambro for several years and have reviewed the fund with him a number of times since he took over last year. OBSR believe that he and the wider resources team have the credentials and experience to continue to deliver attractive returns to investors over the long term. OBSR will continue to monitor the team's progress as part of their regular quarterly reviews.