With-profits bond from Prudential

Prudential is to launch a with-profits bond aimed at bondholders stuck in closed with-profits funds. The Prudential Prospect Bond is to be launched in October and will offer a higher allocation rate than the existing Pru bond for a higher annual management charge. The product will have an allocation rate of 105% for policyholders aged under 75, increasing to 106% for those investing £50,000 or more. This product will carry no explicit initial charge as with the Pru bond, but the AMC will be higher. Investors will have the choice of income or growth options, which will have differ...