An announcement released by Prudential yesterday afternoon included the following message for our PruFund Growth investors:
If your plan is invested in PruFund:
- Your plan is made up of units, and you’ll get an increase to unit prices.
- We increased your unit price by 0.9% on 26 February 2020. From then, your unit price will continue to move in line with the normal smoothing process of PruFund. You can find out more at pru.co.uk/investments/investment-fund-range/prufund/
- You need to have been invested in the PruFund funds on 26 February 2020 to get the unit price increase. But any money you have in the holding account at that time won’t get the increase.
Comment
Prudential have more money than they need in their With-Profits Sub Fund, their inherited estate built up over many years.
They have these excess funds in their inherited estate and have decided to share it. This is not a regular occurrence, far from it.
This is great news – as markets drop substantially due to coronavirus (hopefully short term) Prudential add a little value for our ‘smooth’ investors! (pun)
Steve Speed 27/02/2020