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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

PruFund UPA Date UPA applied
PruFund Risk Managed 5 Fund +2.91% 25 February 2021


Trustee Investment Plan / Flexible Retirement Plan

PruFund UPA Date UPA applied
PruFund Risk Managed 4 Pension/ISA Fund +2.66% 25 February 2021

Prudential ISA

PruFund UPA Date UPA Applied
PruFund Risk Managed 4 Pension/ISA Fund +2.66% 25 February 2021
PruFund Risk Managed 5 Pension/ISA Fund +3.54% 25 February 2021

Retirement Account Series D

PruFund UPA Date UPA applied
PruFund Risk Managed 4 Pension Fund - Series D +2.66% 25 February 2021

Prudential International Investment Bond / International Prudence Bond

PruFund UPA Date UPA applied
PruFund Growth (Sterling) Fund +2.95% 25 February 2021
PruFund Growth (Euro) Fund +3.97% 25 February 2021
PruFund Cautious (Euro) Fund +2.76% 25 February 2021
PruFund Growth (Dollar) Fund +4.45% 25 February 2021
PruFund Cautious (Dollar) Fund +2.44% 25 February 2021

Why have these funds had a upwards UPA movement?

On the quarter date, there’s an upward UPA if the unsmoothed price is:

  • 4%, or more, higher than the smoothed price (also known as the Unit 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 smoothed price normally increases every day in line with the appropriate EGR. We base the unsmoothed price on the value of the underlying assets. If the unsmoothed price increases at a higher rate than the EGR then we may need to increase the smoothed unit price by applying a UPA. As each PruFund fund has a different asset allocation, and / or different start date, and / or different currency for our offshore funds, some funds may have a UPA and others may not.

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.