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Latest PruFund Expected Growth Rate (EGR) performance announcement – May 2019

Expected Growth Rates (EGRs)

We are pleased to confirm that the Expected Growth Rates (EGR) remain unchanged for the next quarter. The EGR 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 (up to 15 years) on the assets of the funds.

We review Expected Growth Rates every three months, when they could rise or fall.

No Unit Price Adjustments (UPA) for any Fund

There are no UPAs applying at this quarter date.

The PruFund smoothing process is explained in detail in:

  • the Step by Step guide to the PruFund smoothing process, reference GENM92301 and
  • the Step by Step guide to the PruFund smoothing process (Retirement Account from 25 August 2017), reference PRUF624304

Prudential ISA is provided by Link Financial Investments Limited, who is the ISA Plan Manager. Link Financial Investments Limited is responsible for all the regulatory and legal aspects of the ISA and the provision of all customer services.

The value of an investment is not guaranteed and can go down as well as up. Your client could get back less that they have paid in.

How does this impact on performance?
(a) Onshore Bond Funds

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 25/11/2004 – 28/05/2019
PruFund Growth Fund / PruFund Protected Growth Fund* 132.52%
FTSE 100*** 163.74%
FTSE All Share*** 182.35%
ABI Mixed Investment 20%-60% Shares** 76.21%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, net income

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

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

  Since launch 25/08/2009 – 28/05/2019
PruFund Cautious Fund / PruFund Protected Cautious* 65.58%
ABI Mixed Investment 0%-35% Shares** 49.77%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

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 25/11/2011 – 28/05/2019
PruFund Risk Managed 1 Fund* 41.85%
PruFund Risk Managed 2 Fund* 48.86%
PruFund Risk Managed 3 Fund* 57.77%
PruFund Risk Managed 4 Fund* 73.00%
Prufund Risk Managed 5 Fund**** 1.68%
FTSE 100*** 88.35%
FTSE All Share*** 96.86%
ABI Mixed Investment 0%-35% Shares** 33.40%
ABI Mixed Investment 20%-60% Shares** 43.84%
ABI Mixed Investment 40%-85% Shares** 66.83%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, net income reinvested but net of fund tax.

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, net income reinvested.

**** Performance shown is from 21/01/2019 to 28/05/2019. Source Prudential 28/05/2019.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

(b) Pension Funds

The table below shows the performance of the PruFund Growth Pension Fund which was launched on 25/11/2008. The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates. These Funds are currently available on Flexible Retirement Plan and Trustee Investment Plan.

  Since launch 25/11/2008 – 28/05/2019
PruFund Growth Pension Fund /PruFund Protected Growth Pension Fund* 138.77%
FTSE 100*** 160.43%
FTSE All Share*** 181.06%
ABI Mixed Investment 20%-60% Shares - Pensions** 100.53%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

The table below shows the performance of the PruFund Cautious Pension Fund which was launched on 25/11/2009. These Funds are currently available on Flexible Retirement Plan and Trustee Investment Plan.

  Since launch 25/11/09 – 28/05/2019
PruFund Cautious Pension Fund /PruFund Protected Cautious Pension Fund* 72.77%
ABI Mixed Investment 0%-35% Shares-Pensions** 56.49%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

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 25/11/2011 – 28/05/2019
PruFund Risk Managed 1 Pension Fund* 52.55%
PruFund Risk Managed 2 Pension Fund* 63.60%
PruFund Risk Managed 3 Pension Fund* 74.07%
PruFund Risk Managed 4 Pension Fund* 89.31%
FTSE 100*** 88.35%
FTSE All Share*** 96.86%
ABI Mixed Investment 0%-35% Shares - Pensions** 41.71%
ABI Mixed Investment 20%-60% Shares - Pensions** 53.72%
ABI Mixed Investment 40%-85% Shares - Pension** 77.20%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance. Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

Retirement Account (Series D) Funds

The table below shows the performance of the PruFund Pension Funds (Series D) which were launched on Retirement Account on 26/09/2016. The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates.

  Since launch 30/08/2016 – 28/05/2019
PruFund Growth Pension Fund (Retirement Account) Series D* 22.49%
PruFund Cautious Pension Fund (Retirement Account) Series D* 13.89%
PruFund Risk Managed 1 Pension Fund (Retirement Account) Series D* 8.94%
PruFund Risk Managed 2 Pension Fund (Retirement Account) Series D* 13.91%
PruFund Risk Managed 4 Pension Fund (Retirement Account) Series D* 19.11%
PruFund Risk Managed 4 Pension Fund (Retirement Account) Series D* 24.73%
FTSE 100*** 19.21%
FTSE All Share*** 18.84%
ABI Mixed Investment 0%-35% Shares- Pensions** 4.20%
ABI Mixed Investment 20%-60% Shares - Pensions** 7.78%
ABI Mixed Investment 40%-85% Shares - Pensions** 14.13%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures shown are intended only to demonstrate performance history of the fund and take no account of product or advice charges. The application of charges will impact the overall performance. Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

Retirement Account (Series E) Funds

The table below shows the performance of the PruFund Pension Funds (Series E) which were launched on Retirement Account on 25/8/2017. The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates.

  Since launch 25/09/2017 – 28/05/2019
PruFund Growth Pension Fund (Retirement Account) Series E* 5.53%
PruFund Cautious Pension Fund (Retirement Account) Series E* 4.97%
PruFund Risk Managed 1 Pension Fund (Retirement Account) Series E* 4.85%
PruFund Risk Managed 2 Pension Fund (Retirement Account) Series E* 5.51%
PruFund Risk Managed 3 Pension Fund (Retirement Account) Series E* 6.37%
PruFund Risk Managed 4 Pension Fund (Retirement Account) Series E* 3.85%
PruFund Risk Managed 5 Pension Fund (Retirement Account) Series E* 1.90%
FTSE 100*** 5.64%
FTSE All Share*** 5.04%
ABI Mixed Investment 0%-35% Shares- Pensions** 1.21%
ABI Mixed Investment 20%-60% Shares - Pensions** 1.28%
ABI Mixed Investment 40%-85% Shares - Pensions** 3.68%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the “FTSE” under license. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index value and constituent list vest in FTSE.

*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.

The figures shown are intended only to demonstrate performance history of the fund and take no account of product or advice charges. The application of charges will impact the overall performance. Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

** As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

*** As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested.

**** Performance shown is from 21/01/2019 to 28/05/2019. Source Prudential 28/05/2019.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

(c) Prudential ISA Funds

The table below shows the performance of the PruFund funds available on Prudential ISA. Prudential ISA launched on 26 February 2015. The performance of these funds will differ from the onshore life funds due to the different tax treatment and different launch dates.

26/02/2015 – 28/05/2019
PruFund Growth ISA Fund* 34.51%
PruFund Cautious ISA Fund* 19.82%
PruFund Risk Managed 1 ISA Fund* 18.32%
PruFund Risk Managed 2 ISA Fund* 24.43%
PruFund Risk Managed 3 ISA Fund* 26.46%
PruFund Risk Managed 4 ISA Fund* 32.72%
FTSE 100** 24.73%
FTSE All Share** 25.29%
ABI Mixed Investment 0%-35% Shares - Pensions*** 12.66%
ABI Mixed Investment 20%-60% Shares - Pensions*** 15.66%
ABI Mixed Investment 40%-85% Shares - Pensions*** 24.49%

FTSE is a trademark jointly owned by the London Stock Exchange Plc and the Financial Times Limited and is used by the "FTSE" under licence. FTSE does not sponsor, endorse, or promote this product and is not in any way connected to it and it does not accept any liability in relation to its issue, operation and trading. All copy rights in the index values and constituent list vest in FTSE.

*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.

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance.

Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with gross income reinvested. Some, if not all, of the funds comprising the ABI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

**As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested

***As at close of business 24/05/2019. Source: Financial Express, bid to bid, gross income reinvested and gross of fund tax.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

(d) Prudential International Funds

The tables below show the PruFund funds available on Prudential International Investment Bond and International Prudence Bond. 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 25/11/2008 – 28/05/2019
PruFund Growth (Sterling) Fund / PruFund Protected Growth (Sterling) Fund 138.80%
PruFund Growth (Euro) Fund / PruFund Protected Growth (Euro) Fund 107.04%
PruFund Growth (US Dollar) Fund / PruFund Protected Growth (US Dollar) Fund 153.70%

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

  Since launch 25/11/2009 – 28/05/2019
PruFund Cautious (Sterling) Fund / PruFund Protected Cautious (Sterling) Fund 72.70%
PruFund Cautious (Euro) Fund / PruFund Protected Cautious (Euro) Fund 61.40%
PruFund Cautious (US Dollar) Fund / PruFund Protected Cautious (US Dollar) Fund 67.13%

The figures are intended only to demonstrate performance history of the fund over the period shown. They include a representative fund charge of 0.65% pa and any additional investment expenses. They take no account of product, guarantee or advice charges. The application of charges will impact the overall performance. Please also note that our charges may vary in the future and may be higher than they are now. Fund Performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. Some, if not all, of the funds comprising the OI sector averages are net of fund charges. Performance is shown on a bid to bid price basis.

Past performance is no guide to future performance. The value of an investment is not guaranteed and can go down as well as up. Your client could get back less than they have paid in.

© Prudential 2019