M&G Wealth is to add its PruFund Planet range of multi-asset funds as an investment choice on its own platform (formerly Ascentric) for the first time
M&G Wealth says it is the first time the Planet range has been offered as a choice on any UK investment platform.
The five PruFund Planet funds each have their own risk profile and aim to find investment opportunities in the environmental, social and governance (ESG) sector.
The advised-only funds will aim to achieve a total return from income and capital over the medium to long-term (at least five years).
Similar to other PruFunds, investors should see smoothed returns and less short-term volatility. The PruFund range has £58bn invested from over 450,000 customers.
The M&G Wealth Platform, formerly Ascentric, has £17.5 billion in assets under administration. It supports 2,000 advice firms and more than 100,000 private investors.
M&G Wealth says the addition of PruFund Planet is part of a “significant ongoing programme of enhancements to the platform” that will continue into 2023.
The funds will be available for the ISA and SIPP wrappers on the platform. It is the first time that the PruFund Planet range has been available as an investment option for an ISA.
Shanti Kelemen, chief investment officer at M&G Wealth, said: “Our research shows that most retail customers want to invest responsibly, but not at the expense of sacrificing returns. PruFund Planet is the only ESG and smoothed investment range available on any platform in the UK.”
PruFund funds are invested in the Prudential With-Profits fund.
M&G Wealth is part of M&G plc and has four main divisions: M&G Wealth Advice, M&G Wealth Platform, M&G Wealth Investments and a retail investment funds business, M&G Direct. At the start of 2022 M&G Wealth acquired Financial Planning firm Sandringham Partners. M&G Wealth has also recently launched a hybrid advice business to selected clients.
In February M&G plc acquired TCF Investments to provide model portfolio services (MPS).
