From mid-October, the PruFund growth fund and PruFund protected growth fund will be available to customers investing in Prudential’s range of onshore and offshore bonds, individual pensions, income drawdown and trustee investment plans.
Offshore investors will also have access to versions dominated in sterling, US dollar and euro currencies.
A five-year rolling guarantee will be available across product tax wrappers to new investors of the protected growth version of PruFund.
Investors in the pension products will also be able to extend the guarantee to match their retirement age if required. The guarantee enables investors to lock in any growth achieved on any of the other funds they hold within the various product wrappers by switching the gains into the protected growth fund at five year intervals.
The charge for the guarantee onshore will be 0.6 per cent of the fund value per annum over the initial five year period and 0.95 per cent for offshore. The guarantee will be applied automatically to the investment at five year intervals, or on selected retirement age/term for pensions.
Prudential retirement savings director Trevor Cheal says: “We have further widened its appeal to our cautious customer base and they will now have greater choice and flexibility in managing their investments with us. When combined with the option of the guarantee it will provide advisers with a unique opportunity to write business in ever tightening conditions and will give customers added peace of mind.”