4.85 /
1.15%
420.21
NAV on 2020/05/27
| NAV on 2020/05/26 |
415.36 |
| 52 week high on 2020/05/04 |
439.51 |
| 52 week low on 2020/03/24 |
325.79 |
| Total Expense Ratio on 2020/03/31 |
1.63 |
| Total Expense Ratio (performance fee) on 2020/03/31 |
0 |
| Liquid Assets |
1.89 |
0.63% |
| Offshore |
296.20 |
99.37% |
Management company:
Prudential Portfolio Managers Unit Trusts Ltd. |
Formation date:
2000/02/18 |
ISIN code:
ZAE000023495 |
Short name:
U-PRUGVAL |
Risk:
Unknown |
Sector:
Global--Equity--General |
Benchmark:
MSCI All Country World index |
Marc Beckenstrater
Marc is Chief Investment Officer at Prudential Investment Managers. With over 20 years’ experience in investment management, Marc joined Prudential in 1999 and until December 2009 was the Head of Equity. He is responsible for equity research decision-making and performance, and heads the balanced mandate asset allocation process. Marc is Portfolio Manager of Prudential’s Balanced Fund and co-Manager of the Dividend Maximiser, both of which have won Raging Bull and Morningstar Awards.
Craig Simpson
Prudential Global Equity Fdr comment - Dec 19
2020/02/25 00:00:00
The year ended on a high note for global equities as investors were able to breathe a sigh of relief on the back of a firm Phase 1 trade agreement between the US and China, as well as a decisive Tory election victory in the UK that paved the way for a less-uncertain Brexit. These events helped to improve sentiment towards global growth in 2020, as did the backdrop of easy global monetary policy, sparking a strong global equities rally. US equity markets reached fresh record highs in late December, helping global equities record their best annual gains since 2009 - the MSCI All Country World Index returned 27.3% for the year (in US$). In the face of brighter growth prospects, the Fed left interest rates on hold, and its December “dot plot” forecast pointed to no changes through 2020 and one 25bp rate hike in 2021. The central bank also noted that the US economic outlook was favourable. In the Eurozone, Christine Lagarde (the ECB’s new President) kept interest rates on hold at its December meeting and confirmed that its bond buying stimulus programme had re-started on 1 November. The Chinese economy continued to slow during the month, hurt by the trade war’s negative impact on Chinese exports and manufacturing. The government’s ongoing stimulus measures, including tax cuts, infrastructure spending and lower bank reserve requirements, have helped to cushion the broader economy, but December saw increasing pressure on the central bank to initiate further monetary easing.
Looking at global equity market returns (all in US$), emerging markets outperformed developed markets, with the MSCI Emerging Markets Index returning 7.5% and the MSCI World Index delivering 3.0%. Among developed markets, the S&P 500 produced 3.0%, the Dow Jones Industrial Average produced 1.9%, while the technology-heavy NASDAQ posted 4.0%. The UK's FTSE 100 returned 5.3% and Japan's Nikkei 225 delivered 2.5%. The rand strengthened 4.4% against the US dollar, 2.1% against the pound sterling and 2.5% versus the euro.
Rand strength against the US dollar dampened performance in December. In US dollar terms, exposure to US, European and Asian equities (both Japan and Asia ex. Japan) contributed to performance in December. Global emerging market equities also contributed significantly.
The fund's objective is to obtain medium-to-long term capital appreciation but investing in a suite of international equity unit trust funds that are managed with a value style bias. Informed fund managers selected by Prudential in different global centres manage the fund's underlying assets. This fund is suitable for investors seeking medium- to long-term capital appreciation with returns optimised by global diversification and value style investing.
