The PruFund range of funds

Our established smoothing process uses Expected Growth Rates, and where required, Unit Price Adjustments, to deliver a smoothed investment journey. 

View A Step by Step guide to the PruFund smoothing process (PDF)

We may decide to reset the smoothed price of a PruFund fund on a particular day, to protect the 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 other 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 and those invested in it.

When this happens, the smoothed price for the affected fund(s) is set to the unsmoothed price for each day until the smoothing process in reinstated.

We will review the suspension of smoothing at least once every 30 days, and will reinstate smoothing when we consider it appropriate to do so. When the smoothing process is reinstated the unit price will start at the previous day's unit price.

M&G Treasury & Investment Office (T&IO), monitor and manage the M&G plc Group fund managers responsible for the majority of underlying funds that these Multi-Asset funds invest in.

The following table shows fund availability for our key products.

*Available with currency options for PruFund Growth Fund and PruFund Cautious Fund (Sterling, Euro, US Dollar).

# The Flexible Retirement Plan (FRP) closed to new business on 17 September 2018 but if your client is an existing FRP customer they can still make changes to their plan.

This is not a comprehensive list of the availability of these funds. Please refer to the appropriate fund guide or product information pages for more information. 

Retirement Account - PruFund Series D & Series E

Please note that there are two series of PruFund within Retirement Account, which have different investment date cycles. Customers are invested in either series as follows:

• Series D - All investments made on or before 25 August 2017.
  
• Series E - All investments made after 25 August 2017 (including fund switches and regular premium contributions).

T&IO works closely with Prudential to set the overarching strategic asset allocation framework for the multi-asset fund range and for managing the asset allocation on an ongoing basis.

PruFund Global Diversification

There is a range of PruFund funds designed to suit different attitudes to risk and reward, for those wishing to invest for 5 to 10 years or more. There are the five Risk Managed PruFund funds, five PruFund Planet funds and also the PruFund Growth and Cautious Funds, the latter two included guarantee options (at an additional charge). PruFund Protected Funds are currently closed to new investments.

We have five Risk Managed PruFunds, designed to suit different attitudes to risk and reward. They all benefit from our established smoothing process and are aimed at investors looking to invest for 5 to 10 years or more.

These funds are numbered one to five based on how volatile we expect each fund to be after smoothing has been applied. For example, Prudential Risk Managed PruFund 1 has the lowest volatility limit of 9% after smoothing, and therefore has the lowest amount invested in assets. Prudential Risk Managed PruFund 5 on the other hand, has the highest volatility limit of 17% after smoothing, and has the highest amount invested in assets that are likely to be more volatile.

More about the << Risk Managed range >>

The PruFund Growth Fund aims to maximise growth over the medium to long term (5 to 10 years or more) by investing in shares, property, fixed-interest and other investments. The fund currently invests in UK and international equities, property, fixed-interest securities, index-linked securities and other specialist investments.

The Prufund Cautious Fund aims for steady and consistent growth over the medium to long term (5 to 10 years or more) through a cautious approach to investing. The fund invests in UK and international equities, property, fixed interest securities, index-linked securities, cash and other specialist investments. The fund will aim to invest 50-75% in fixed interest securities, index-linked securities and cash, although we may occasionally move outside this range to meet the fund objectives.