Given the current market conditions Prudential confirmed on Friday 27th March 2020 that they are applying downward Unit Price Adjustments (UPAs) to some more of their PruFund funds due to the current extraordinary market conditions as follows:
PruFund Investment Plan, PruFund Investment Plan Mark 2 & Mark 3
I know that many of you have experienced downward UPAs before. However, for those that haven’t, it is worth noting that this is how the product/fund works and up until these UPAs during all this market volatility, the funds have been going up each day in line with the EGR. The day after the UPA, the fund will start going up again. When global markets recover, the product/fund may well then implement an upwards UPA.
Further details of this can also be found on the Prudential website at: https://www.pru.co.uk/investments/investment-fund-range/prufund/
Our advice, as with other investments, is to stay invested and wait for markets to recover from this. Please contact us at Karrek Chartered Financial Planners if you have any concerns on 01637 853153.
Andrew Turner, MSc, Cert CII, FPFS, Certs CII (MP & ER) and Richard Olive BA (Hons) APFS
Karrek Chartered Financial Planners