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Pru sets theme and doubles external funds

Prudential is boosting its external fund link range from 19 funds and three managers to 44 funds with a choice of six managers.

The new range sees 18 funds from Barclays Global Investors, Baillie Gifford, Newton Investment Management, Northern Trust Global Investments and UBS Global Asset Management funds offered alongside 26 funds managed by Prudential&#39s own investment arm M&G.

The Prudential Portfolio Management Group will actively monitor the performance and effectiveness of the chosen funds and to ensure fund managers stick to their specified investment style.

Pru&#39s with-profits funds remains one of the funds available in the new range, which is available for corporate defined-contribution schemes, all of which are charged on a fee basis.

The company says the fund firms have been picked for their strength in seven thematic styles – Baillie Gifford for growth, Newton for global thematic, Northern Trust for multi-manager and with BGI and Prudential covering index investment.

Prudent active is covered by Prudential, active quantitative by BGI Ascent and price/value by UBS. All external fund charges are agreed on an individual basis with clients.

Prudential business development manager Steve Busby says: “The funds selected are considered leaders in their own investment style and set specific performance objectives within a defined risk environment. The selection process included seeking feedback from leading employee benefits consultancies and forms an integral part of our long-term corporate business strategy. The funds have been chosen to offer clients strength and choice in depth.”


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Watching the watchdog

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