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Trustee Investment Plan - PruFund Expected Growth Rates and Unit Price Adjustments

As part of our PruFund smoothing process, Prudential set Expected Growth Rates (EGR). These are the annualised rates your client’s investment would normally grow at. They are reviewed every three months, when they could rise or fall.

They are set quarterly by the Prudential Directors, with regard to the investment returns expected to be earned on the assets of the funds over the long-term (up to 15 years). They are published every quarter for each product. Your client’s investment will normally benefit from this growth rate on a daily basis, through an increase in the price of the units held (known as the unit price).

The table below shows the current and historic EGR (gross of all product charges) and Unit Price Adjustments (UPA), correct as at 25 November 2019.

Trustee Investment Plan

Trustee Investment Plan  Expected Growth Rate (%) Historic Expected Growth Rate Historic Unit Price Adjustments
From To EGR (%) Date Type Of Adjustment UPA (%)
Expand Row Collapse Row PruFund Risk Managed 1 Pension Fund 4.70 27/08/2019 Present 4.70 26/11/2018 End -3.40
25/05/2017 26/08/2019 5.10 28/05/2013 End +3.05
25/08/2016 24/05/2017 5.40 28/08/2012 End +2.75
25/05/2016 24/08/2016 5.80
25/02/2016 24/05/2016 6.30
25/11/2014 24/02/2016 6.40
28/05/2013 24/11/2014 6.90
26/11/2012 27/05/2013 7.10
25/11/2011 25/11/2012 7.40
Expand Row Collapse Row PruFund Risk Managed 2 Pension Fund 5.20 27/08/2019 Present 5.20 25/02/2013 End +3.24
25/05/2017 26/08/2019 5.50 27/02/2012 End +3.41
25/08/2016 24/05/2017 5.70
25/05/2016 24/08/2016 6.10
25/02/2016 24/05/2016 6.70
25/11/2014 24/02/2016 6.90
27/05/2014 24/11/2014 7.30
28/05/2013 26/05/2014 7.20
26/11/2012 27/05/2013 7.40
25/11/2011 25/11/2012 7.80
Expand Row Collapse Row PruFund Risk Managed 3 Pension Fund 5.70 27/08/2019 Present 5.70 27/02/2017 End +3.10
25/08/2016 26/08/2019 6.10 26/02/2016 End -3.05
25/05/2016 24/08/2016 6.40 26/08/2014 End +2.60
25/02/2016 24/05/2016 6.90 25/02/2013 End +3.71
25/11/2014 24/02/2016 7.10 27/02/2012 End +4.21
27/05/2014 24/11/2014 7.60
28/05/2013 26/05/2014 7.50
26/11/2012 27/05/2013 7.70
25/11/2011 25/11/2012 8.00
Expand Row Collapse Row PruFund Risk Managed 4 Pension Fund 6.00 27/08/2019 Present 6.00 25/05/2017 End +2.80
25/08/2016 26/08/2019 6.30 27/02/2017 End +4.51
25/05/2016 24/08/2016 6.70 25/08/2015 End -3.25
25/02/2016 24/05/2016 7.20 25/02/2015 End +2.61
25/11/2014 24/02/2016 7.40 25/02/2013 End +3.10
27/05/2014 24/11/2014 7.90 27/02/2012 End +7.81
28/05/2013 26/05/2014 7.80
26/11/2012 27/05/2013 7.90
25/11/2011 25/11/2012 8.20
Expand Row Collapse Row PruFund Cautious Pension Fund 5.10 27/08/2019 Present 5.10 26/11/2018 End -2.40
25/08/2016 26/08/2019 5.50 25/08/2017 End +2.57
25/05/2016 24/08/2016 6.00 26/02/2016 End -3.40
25/02/2016 24/05/2016 6.50 28/05/2013 End +3.16
25/11/2014 24/02/2016 6.70
27/05/2014 24/11/2014 7.20
26/11/2012 26/05/2014 7.00
25/11/2009 25/11/2012 7.50
Expand Row Collapse Row PruFund Growth Pension Fund 5.90 27/08/2019 Present 5.90 27/02/2017 End +3.07
25/08/2016 26/08/2019 6.20 26/11/2016 End +2.65
25/05/2016 24/08/2016 6.60 26/02/2016 End -2.68
25/02/2016 24/05/2016 7.10 26/05/2015 End +2.79
25/11/2014 24/02/2016 7.30 25/02/2011 End +2.57
27/05/2014 24/11/2014 7.70 25/11/2010 End +3.54
26/11/2012 26/05/2014 7.50 25/11/2009 End +3.55
26/11/2009 25/11/2012 7.90 25/08/2009 End +8.15
25/11/2008 25/11/2009 8.00 25/02/2009 End -2.55
Expand Row Collapse Row PruFund Protected Cautious Pension Fund 5.10 27/08/2019 Present 5.10 26/11/2018 End -2.40
25/08/2016 26/08/2019 5.50 25/08/2017 End +2.57
25/05/2016 24/08/2016 6.00 26/02/2016 End -3.40
25/02/2016 24/05/2016 6.50 28/05/2013 End +3.16
25/11/2014 24/02/2016 6.70
27/05/2014 24/11/2014 7.20
26/11/2012 26/05/2014 7.00
25/11/2009 25/11/2012 7.50
Expand Row Collapse Row PruFund Protected Growth Pension Fund 5.90 27/08/2019 Present 5.90 27/02/2017 End +3.07
25/08/2016 26/08/2019 6.20 26/11/2016 End +2.65
25/05/2016 24/08/2016 6.60 26/02/2016 End -2.68
25/02/2016 24/05/2016 7.10 26/05/2015 End +2.79
25/11/2014 24/02/2016 7.30 25/02/2011 End +2.57
27/05/2014 24/11/2014 7.70 25/11/2010 End +3.54
26/11/2012 26/05/2014 7.50 25/11/2009 End +3.55
26/11/2009 25/11/2012 7.90 25/08/2009 End +8.15
25/11/2008 25/11/2009 8.00 25/02/2009 End -2.55

PruFund Risk Managed 1 Pension Fund
Expected Growth Rate (%) 4.70
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 4.70
25/05/2017 26/08/2019 5.10
25/08/2016 24/05/2017 5.40
25/05/2016 24/08/2016 5.80
25/02/2016 24/05/2016 6.30
25/11/2014 24/02/2016 6.40
28/05/2013 24/11/2014 6.90
26/11/2012 27/05/2013 7.10
25/11/2011 25/11/2012 7.40
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
26/11/2018 End -3.40
28/05/2013 End +3.05
28/08/2012 End +2.75
PruFund Risk Managed 2 Pension Fund
Expected Growth Rate (%) 5.20
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.20
25/05/2017 26/08/2019 5.50
25/08/2016 24/05/2017 5.70
25/05/2016 24/08/2016 6.10
25/02/2016 24/05/2016 6.70
25/11/2014 24/02/2016 6.90
27/05/2014 24/11/2014 7.30
28/05/2013 26/05/2014 7.20
26/11/2012 27/05/2013 7.40
25/11/2011 25/11/2012 7.80
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
25/02/2013 End +3.24
27/02/2012 End +3.41
PruFund Risk Managed 3 Pension Fund
Expected Growth Rate (%) 5.70
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.70
25/08/2016 26/08/2019 6.10
25/05/2016 24/08/2016 6.40
25/02/2016 24/05/2016 6.90
25/11/2014 24/02/2016 7.10
27/05/2014 24/11/2014 7.60
28/05/2013 26/05/2014 7.50
26/11/2012 27/05/2013 7.70
25/11/2011 25/11/2012 8.00
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
27/02/2017 End +3.10
26/02/2016 End -3.05
26/08/2014 End +2.60
25/02/2013 End +3.71
27/02/2012 End +4.21
PruFund Risk Managed 4 Pension Fund
Expected Growth Rate (%) 6.00
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 6.00
25/08/2016 26/08/2019 6.30
25/05/2016 24/08/2016 6.70
25/02/2016 24/05/2016 7.20
25/11/2014 24/02/2016 7.40
27/05/2014 24/11/2014 7.90
28/05/2013 26/05/2014 7.80
26/11/2012 27/05/2013 7.90
25/11/2011 25/11/2012 8.20
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
25/05/2017 End +2.80
27/02/2017 End +4.51
25/08/2015 End -3.25
25/02/2015 End +2.61
25/02/2013 End +3.10
27/02/2012 End +7.81
PruFund Cautious Pension Fund
Expected Growth Rate (%) 5.10
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.10
25/08/2016 26/08/2019 5.50
25/05/2016 24/08/2016 6.00
25/02/2016 24/05/2016 6.50
25/11/2014 24/02/2016 6.70
27/05/2014 24/11/2014 7.20
26/11/2012 26/05/2014 7.00
25/11/2009 25/11/2012 7.50
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
26/11/2018 End -2.40
25/08/2017 End +2.57
26/02/2016 End -3.40
28/05/2013 End +3.16
PruFund Growth Pension Fund
Expected Growth Rate (%) 5.90
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.90
25/08/2016 26/08/2019 6.20
25/05/2016 24/08/2016 6.60
25/02/2016 24/05/2016 7.10
25/11/2014 24/02/2016 7.30
27/05/2014 24/11/2014 7.70
26/11/2012 26/05/2014 7.50
26/11/2009 25/11/2012 7.90
25/11/2008 25/11/2009 8.00
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
27/02/2017 End +3.07
26/11/2016 End +2.65
26/02/2016 End -2.68
26/05/2015 End +2.79
25/02/2011 End +2.57
25/11/2010 End +3.54
25/11/2009 End +3.55
25/08/2009 End +8.15
25/02/2009 End -2.55
PruFund Protected Cautious Pension Fund
Expected Growth Rate (%) 5.10
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.10
25/08/2016 26/08/2019 5.50
25/05/2016 24/08/2016 6.00
25/02/2016 24/05/2016 6.50
25/11/2014 24/02/2016 6.70
27/05/2014 24/11/2014 7.20
26/11/2012 26/05/2014 7.00
25/11/2009 25/11/2012 7.50
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
26/11/2018 End -2.40
25/08/2017 End +2.57
26/02/2016 End -3.40
28/05/2013 End +3.16
PruFund Protected Growth Pension Fund
Expected Growth Rate (%) 5.90
Historic Expected Growth Rate Expand All Collapse All
From To EGR (%)
27/08/2019 Present 5.90
25/08/2016 26/08/2019 6.20
25/05/2016 24/08/2016 6.60
25/02/2016 24/05/2016 7.10
25/11/2014 24/02/2016 7.30
27/05/2014 24/11/2014 7.70
26/11/2012 26/05/2014 7.50
26/11/2009 25/11/2012 7.90
25/11/2008 25/11/2009 8.00
Historic Unit Price Adjustments Expand All Collapse All
Date Type Of Adjustment UPA (%)
27/02/2017 End +3.07
26/11/2016 End +2.65
26/02/2016 End -2.68
26/05/2015 End +2.79
25/02/2011 End +2.57
25/11/2010 End +3.54
25/11/2009 End +3.55
25/08/2009 End +8.15
25/02/2009 End -2.55

Important information

Past performance is not an indicator of future performance. Remember that the value of an investment can go down as well as up, your client may not get back what they paid in.

Please note, PruFund Protected Funds are currently closed to new investments.

The Expected Growth Rates set at each quarter date may be higher, the same or lower than those applying at the start of the investment.

In addition, there may be times where the unit price may be adjusted which will impact any growth that clients may receive. The overall return achieved on any plan is affected by the amount of the investment, investment performance, the period over which the plan has been invested and the charges applicable to the plan. 

We may decide to reset the smoothed price of a PruFund fund on a particular day, to protect our With-Profits Fund.

If we decide to reset, the smoothed price of the affected fund would be adjusted to be the same value as the unsmoothed price on that working day. That adjusted smoothed price will then continue to grow in line with the Expected Growth Rate from the working day after this reset of the smoothed price. This is referred to as a Unit Price Reset in our literature.

There may be occasions where we have to suspend the smoothing process for one or more PruFund funds for a period of consecutive days, to protect our With-Profits Fund. When this happens the smoothed price for the affected fund(s) is set to the unsmoothed price for each day until we reinstate the smoothing process.

You should refer to Key Features or Terms & Conditions of your client's plan for more information on how the Expected Growth Rates work.

© Prudential 2019