Prudential has launched three multi-asset funds to add to its actively managed Dynamic Focused Portfolio range.
The Dynamic Focused Portfolios will be formed of five lower-cost products as the firm adds three new funds, joining the existing Managed Defensive and Cautious Managed Growth funds in the range.
These existing funds have been renamed to fit the new investment strategies.
All the funds in the range will now carry the ’Dynamic Focused Portfolio’ name and will also indicate the minimum and maximum percentage limits that can be held in equities, for example the CF Prudential Dynamic Focused 0-30 Portfolio.
The portfolios will be managed by the Prudential Portfolio Management Group – the firm’s in-house team of multi-asset managers.
The funds will use external tracker funds for equitiy exposure, but will use in-house funds for actively managed fixed interest and property exposure. Other specialists will be used for investments in alternative assets.
Prudential has also changed the names of its existing Dynamic Portfolio funds, which use actively-manager funds rather than passives, to bring them into line with the approach of the new Dynamic Focused Portfolios.
The ongoing charge for the new Dynamic Focused portfolios is between 81bps and 86bps for the platform share class.