Prudential has subjected its multi-asset fund range PruFund, which attempts to smooth investment returns, to a review and says it can show financial advisers a strong track record in delivering investment aims and meeting growth rates.
The insurer said the review, carried out by AKG, was done to help financial advisers with their due diligence.
The report covered the assessment of the multi-asset PruFund range’s investment and risk management approach and found that the core PruFund Growth and PruFund Cautious Funds had displayed strong track records in performance against stated objectives and delivering expected growth rates, said Prudential.
In the first half of 2017 annual premium equivalent sales of PruFund increased 29% to £564 million (€628 million), and total assets under management reached £30 billion.
Paul Fidell, head of business development, investments, at Prudential, said asset allocation is a highly specialist skill and many advisers are recognising the benefits of outsourcing this part of the financial planning process.
“Outsourcing does not, however, mean an abdication of responsibility and it is vitally important that advisers understand not only the features of the products that they are recommending to their clients but also the governance and management structure that sits behind them.”
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