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Unit Price Reset applied on the PruFund range of funds

We’ve confirmed that we have applied Unit Price Resets (UPRs) to some of our PruFund funds due to an uplift in market conditions impacting their underlying performance.

Why have these PruFund funds had a UPR movement?

On the 25th August 2021 we applied a Unit Price Reset (UPR) for all PruFund funds where the Unsmoothed Price (reflecting the value of the underlying assets) was higher than the Smoothed Price (your clients Unit Price) at that time. 

What is a Unit Price Reset?

A Unit Price Reset is where the Smoothed Price is reset overnight to the Unsmoothed Price.

What does this mean for me?

If your clients are invested in any of the funds listed in the table below, their Smoothed Price has been increased by the amount shown; which will increase the value of your clients PruFund investment. For example, from the table below PruFund Growth had a Unit Price Reset of 5.06%, increasing the Smoothed Price, from 283.18 to 297.50. 

Following this reset the Smoothed Price continues to grow in line with the Expected Growth Rate (EGR) as normal. If your clients fund isn't listed in the table below then there's been no change to their Unit Price.

UPRs have been applied to the PruFund funds below. Please note, the UPRs also apply to the protected version of the funds, where applicable.

Prudential Investment Plan

PruFund UPR  Date UPR applied
PruFund Growth Fund +5.06% 25 August 2021
PruFund Cautious Fund +4.70% 25 August 2021
PruFund Risk Managed 1 Fund +2.61% 25 August 2021
PruFund Risk Managed 2 Fund +4.76% 25 August 2021
PruFund Risk Managed 3 Fund +5.00% 25 August 2021
PruFund Risk Managed 4 Fund +4.11% 25 August 2021
PruFund Risk Managed 5 Fund +4.88% 25 August 2021

Trustee Investment Plan / Flexible Retirement Plan

PruFund UPR Date UPR applied
PruFund Growth Fund +5.66% 25 August 2021
PruFund Cautious Fund +3.17% 25 August 2021
PruFund Risk Managed 1 Pension Fund +3.81% 25 August 2021
PruFund Risk Managed 2 Pension Fund +3.67% 25 August 2021
PruFund Risk Managed 3 Pension Fund +4.90% 25 August 2021
PruFund Risk Managed 4 Pension Fund +4.56% 25 August 2021

Prudential ISA

PruFund UPR Date UPR applied
PruFund Growth Fund +5.66% 25 August 2021
PruFund Cautious Fund +3.17% 25 August 2021
PruFund Risk Managed 1 ISA Fund +3.81% 25 August 2021
PruFund Risk Managed 2 ISA Fund +3.67% 25 August 2021
PruFund Risk Managed 3 ISA Fund +4.90% 25 August 2021
PruFund Risk Managed 4 ISA Fund +4.56% 25 August 2021
PruFund Risk Managed 5 ISA Fund +5.55% 25 August 2021

Retirement Account Series D

PruFund UPR Date UPR applied
PruFund Growth Fund +5.66% 25 August 2021
PruFund Cautious Fund +3.17% 25 August 2021
PruFund Risk Managed 1 Pension Fund +3.81% 25 August 2021
PruFund Risk Managed 2 Pension Fund +3.67% 25 August 2021
PruFund Risk Managed 3 Pension Fund +4.90% 25 August 2021
PruFund Risk Managed 4 Pension Fund +4.56% 25 August 2021

Retirement Account Series E

PruFund UPR Date UPR Applied
PruFund Growth Fund +3.63% 25 August 2021
PruFund Cautious Fund +3.12% 25 August 2021
PruFund Risk Managed 1 Pension Fund +3.79% 25 August 2021
PruFund Risk Managed 2 Pension Fund +3.78% 25 August 2021
PruFund Risk Managed 3 Pension Fund +5.28% 25 August 2021
PruFund Risk Managed 4 Pension Fund +3.69% 25 August 2021
PruFund Risk Managed 5 Pension Fund +5.02% 25 August 2021

Prudential International Investment Bond / International Prudence Bond

PruFund UPR Date UPR applied
PruFund Growth (Sterling) Fund +4.68% 25 August 2021
PruFund Growth (Euro) Fund +5.68% 25 August 2021
PruFund Growth (Dollar) Fund +2.75% 25 August 2021
PruFund Cautious (Sterling) Fund +3.17% 25 August 2021
PruFund Cautious (Euro) Fund +4.83% 25 August 2021
PruFund Cautious (Dollar) Fund +2.30% 25 August 2021

 International Portfolio Bond Series C

Fund UPR Date UPR Applied
PruFund Cautious (Sterling) Fund - Series C +3.99% 25 August 2021
PruFund Growth (Sterling) Fund - Series C +3.46% 25 August 2021
PruFund Risk Managed 1 (Sterling) Fund - Series C +4.21% 25 August 2021
PruFund Risk Managed 2 (Sterling) Fund - Series C +2.53% 25 August 2021
PruFund Risk Managed 3 (Sterling) Fund - Series C +4.59% 25 August 2021
PruFund Risk Managed 4 (Sterling) Fund - Series C +3.48% 25 August 2021
PruFund Risk Managed 5 (Sterling) Fund - Series C +4.78% 25 August 2021

What now? Do I need to do anything?

The Smoothed Price will continue to grow by the Expected Growth Rate which applies to the fund(s) your clients are invested in. There's nothing you need to do.

Could you apply further Unit Price Resets in the future?

We'll continue to monitor the smoothing mechanism to ensure that the fund's operated in a way that's fair to all customers invested in it. 

Whilst it's possible that Unit Price Resets could be needed in the future they're not intended to be used often and generally only in highly unusual circumstances.

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.