Prudential is developing a with-profits product which will give investors access to five different risk-rated investment categories.
The current range of Prufund investment products, which are invested in its with-profits fund, include growth and cautious categories.
The firm plans to launch a new product which mirrors the five risk-rated categories on its unit-linked funds – defensive, cautious, cautious growth, balanced and adventurous.
Speaking to Money Marketing, Prudential UK chief executive Rob Devey says: “On the unit-linked side, we came up with a range of solutions fitting different attitudes to risk. We see ourselves extending that concept into with-profits. In the course of the next few months, we will be coming to market with something which should mean we have a solution for all seasons.”
Hargreaves Lansdown head of advice Danny Cox says: “While this sounds like an interesting development, I think with-profits is a dead concept.”