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Further UPAs affecting some of our PruFunds

We’ve confirmed that we’ll be applying upwards Unit Price Adjustments (UPAs) to some of our PruFund funds due to an uplift in market conditions impacting their underlying performance.

Upward UPAs have been applied to the PruFund funds below. Please note, the UPAs also apply to the protected version of the funds, where applicable.

Prudential Investment Plan / Flexible Investment Plan

PruFund UPA Date UPA applied
PruFund Growth Fund +2.69% 25 August 2020
PruFund Protected Growth Fund +2.69% 25 August 2020
PruFund Cautious Fund* +2.04% 25 August 2020
PruFund Protected Cautious Fund +2.04% 25 August 2020

*also available on PruFund Investment Plan

Prudential International Investment Bond / International Prudence Bond

PruFund UPA Date UPA applied
PruFund Growth (Euro) Fund +3.12% 25 August 2020
PruFund Protected Growth (Euro) Fund +3.12% 25 August 2020
PruFund Cautious (Euro) Fund +3.19% 25 August 2020
PruFund Protected Cautious (Euro) Fund +3.19% 25 August 2020
PruFund Cautious (Sterling) Fund +2.63% 25 August 2020
PruFund Protected Cautious (Sterling) Fund +2.63% 25 August 2020

Prudential ISA / Trustee Investment Plan / Flexible Retirement Plan

PruFund UPA Date UPA applied
PruFund Growth Pension +2.73% 25 August 2020
PruFund Protected Growth Pension +2.73% 25 August 2020
PruFund Cautious Pension +2.63% 25 August 2020
PruFund Protected Cautious Pension +2.63% 25 August 2020
PruFund Risk Managed 1 Pension/ISA Fund +2.34% 25 August 2020
PruFund Risk Managed 2 Pension/ISA Fund +2.54% 25 August 2020
PruFund Risk Managed 3 Pension/ISA Fund +3.71% 25 August 2020

Retirement Account Series D

PruFund UPA Date UPA applied
PruFund Growth Pension Fund – Series D +2.74% 25 August 2020
PruFund Cautious Pension Fund – Series D +2.64% 25 August 2020
PruFund Risk Managed 1 Pension Fund – Series D +2.34% 25 August 2020
PruFund Risk Managed 2 Pension Fund – Series D +2.54% 25 August 2020
PruFund Risk Managed 3 Pension Fund – Series D +3.70% 25 August 2020

 

The difference between the smoothed and unsmoothed prices is checked on a daily basis against Daily Smoothing Limits. A price adjustment is made based on the Daily Smoothing Limits if the unsmoothed price differs from the smoothed price by:
Why have these funds had a upwards UPA movement?

On the quarter date, there is a UPA if the unsmoothed price is:

4%, or more, higher or lower than the smoothed price for our PruFund Cautious, PruFund Risk Managed 1 or PruFund Risk Managed 2 funds.

Or

5%, or more, higher than the smoothed price for our PruFund Growth, PruFund Growth & Income, PruFund Risk Managed 3, PruFund Risk Managed 4 or PruFund Risk Managed 5 funds.

The value of an investment can go down as well as up. Your client may get back less than they have paid in.

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.