Prudential launches new target return funds

Prudential’s Diversified Growth Fund and Defensive Fund invest in UK and overseas equities, alternative assets, property, bonds and cash. The funds' targets are to provide returns of 6% and 4% above CPI over a rolling five-year period, respectively. Martyn Bogira, director of defined contribution solutions at Prudential, says: “Around 90% of scheme members automatically go into equity tracker default funds which may not necessarily suit their individual risk profile and investment needs. “We believe that investing in more diverse funds rather than being wholly dependent upon the equ...