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M&G launches range of funds to tackle ESG challenges

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M&G plc today announces the launch of PruFund Planet, a people and planet-focused version of its market-leading smoothed investment solution for UK retail investors.

PruFund Planet comprises a range of five funds (PruFund Planet 1-5) that seek to manage risks, pursue opportunities and invest in high-impact solutions to the world’s pressing environmental, social and governance (ESG) challenges. It is expected to deliver similar long-term growth to the existing PruFund range at the same cost-to-customer.

Developed using an allocation of £500 million from the £145 billion With-Profits Fund, PruFund Planet enables financial advisers to select an investment strategy for their pension clients looking for lower-volatility and competitive market returns and a desire to make a difference to the planet. It has the flexibility to invest across private and public markets, and all major asset classes and geographic regions.

PruFund Planet combines M&G’s asset allocation capabilities with leading proprietary and third-party investment managers in areas as diverse as impact bonds, healthcare and wellbeing, clean technology and systematic equity.

Investment strategies within PruFund Planet are assessed and set in relation to three types of outcome:

  • Risk Focused – managing ESG risks and seeking to minimise negative outcomes via exclusions
  • Opportunity Focused – pursuing ESG opportunities and contributing to positive outcomes for broad stakeholders
  • Solutions Focused – targeting specific societal/environmental issues for underserved groups or stakeholders

As with the existing PruFunds, which have grown to over £56 billion AUM2 on the back of consistent performance, investors in PruFund Planet will receive ‘smoothed’ returns over the medium to long-term, reducing the impact of short-term volatility.

David Macmillan, Chief Customer & Distribution Officer at M&G plc comments:

“With environmental and social issues hitting the headlines every day, our latest Power of Advice research4 shows that almost half of advisers said their clients would like to consider ESG/sustainable investing more, but need support in going about it.

“That’s where PruFund Planet comes in. Not only does it meets a real and growing need for advisers whose clients, particularly in retirement, are increasingly looking for a smoothed investment journey, it seeks to make a positive difference to the planet without sacrificing expected investment returns.

“PruFund revolutionised the with-profits market when it launched 17 years ago and now with £56 billion of assets under management it’s a product that has caught the imagination of advisers and clients alike.”

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