Pru Life UK unveils index tracker fund

LIFE insurer Pru Life UK launched its latest offering that aims to provide a stable investment portfolio with the potential for long-term capital growth.

Through Pru Life UK’S new investment-linked fund offering, PRULINK equity Index Tracker Fund, clients get to invest in the country’s 30 largest companies by market capitalization and the most actively traded stocks on the Philippine Stock exchange (PSE).

As an index tracker, it seeks to replicate the performance of the Philippine Stock exchange Index (Psei), the leading benchmark of the national stock market.

Pru Life UK President and Chief executive Officer Antonio De Rosas said their latest offering provides investors with “a good starting point” when it comes to investments aside from the life insurance benefits that primarily come with the fund.

“We want our customers to have more choices on how to grow their money. The new fund will now be included in the selection of PRULINK funds they can invest in when they purchase an insuravest plan,” De Rosas said.

Pru Life UK Vice President for Investment Marketing Head Mark Anthony Valino also said PRULINK equity Index Tracker Fund is a passively managed fund unlike the PRULINK equity Fund, which is actively managed.

While both are providing opportunities for medium-to-long term capital appreciation and income growth, Valino said PRULINK equity Fund invests in a stock of publicly-listed companies in the PSE while PRULINK equity Index Tracker Fund will focus on stocks comprising the Psei.

Aside from this, there is a bigger room for fund f lexibility under the PRULINK equity Index Tracker Fund as the fund manager may invest in a single stock or issue of up to a maximum of 15 percent. This is lower than the maximum of 10 percent fund flexibility under the PRULINK equity Fund.

Valino said their latest offering comes with a lower management charge of 1.75 percent per annum compared to the PRULINK equity Fund with a management fee of 2.25 percent per annum.

The PRULINK equity Index Tracker Fund is managed by Pru Life UK Investments, a subsidiary of Pru Life UK incorporated in 2018.

It is also now available in Pru Life UK’S suite of pesodenominated insuravest products, namely, Prumillionaire, PRULINK Investor Account

Plus, PRULINK elite Protector Series, PRULINK Assurance Account Plus, PRULINK exact Protector (PEP) and PEP Low Premium, as well as in its PRULIFE Your Term with Variable Life Rider.

existing policyholders may also top-up, redirect their premiums, or switch to the new fund.