View more on these topics

Pru sets up multi-asset hybrids

Prudential has launched two hybrid multi-asset funds of funds that will build on its track record in running with-profits funds.

The Prudential cautious managed growth and managed defensive funds aim to provide a combination of income and growth.

They will initially be available as standalone investment and fund links for the international Prudence bond, with life and pension fund links to follow later in the year.

The funds’ asset allocation will be determined by Prudential’s in-house strategists, the Portfolio Management Group, and will not be constrained by benchmark.

Fund manager Matthew Williams will then select the underlying managers within this asset-allocation framework.

Williams says he will predominantly take a fund of funds approach, investing mainly within the Prudential Group, which includes M&G. But the fund will not have the constraints of a conventional fettered fund of funds as Williams will be able to hold money directly in asset classes such as equities and will also be able to hold externally managed funds if desired.

Williams says the funds could have been launched earlier on the back of Prudential’s experience of multi-asset investing through with-profits, but the greater flexibility available under the Nurs structure was a deciding factor in coming to the market now.

Williams says: “Prudential has skills in a lot of asset classes and I think a lot of internal funds hit all the right buttons. I will use external funds only if I feel the internal funds are not up to scratch or in areas we do not have an offering, such as funds of hedge funds.”

Recommended

Land of opportunity

John Wood, manager of the JO Hambro UK opportunities fund launched around 18 months ago, has already achieved an AA rating from Forsyth OBSR…

Ideas in motion

It is almost eight months since Skandia launched its global best ideas fund while the UK version is five months old. This is obviously a very short period but I think it is worth looking at how they have performed.The global fund is second in its sector after rising by 21.5 per cent since launch […]

Euro row builds over Equitable verdict

The European Parliament committee investigating the Equitable Life debacle is set to accuse the Government of massive regulatory failings.Sources suggest the report will accuse the Government of “malfeasance” in failing in regulatory duties and suggest policyholders should be able to use the courts to get compensation.But Labour economic spo-kesman and committee member Peter Skinner says […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com