Phil addresses PruFund drop in New Model Adviser article…

New Model Adviser yesterday issued an article, as part of its New Model Adviser top 100 IFA firms revisit, in which it asked Advisers  how their portfolios held up during the crash and which funds delivered or performed badly in February and March .

As the scale of the coronavirus pandemic revealed itself to the world in late February, global stock markets collapsed, with the FTSE 100 down around 33% between the middle of February and the end of March.

Since then markets have recovered much of their biggest drawdowns, but clients have still been left with a nasty shock of such a sudden market drop.

With many Adviser providing their opinion on various fund and investment strategies, Phil provides his opinion and addresses the biggest shock which was the -11% PruFund drop;

“A couple of portfolios have fallen further than we would have expected but it is what it is. The 10% letters don’t help for all sorts of logistical reasons, and they don’t help clients either. We have even had a few 20% drop letters, which was a first. We are researching alternative providers for when we come out of this crisis to see who protected capital the best in this turbulent time, as that is what clients want fundamentally. PruFund Growth dropping -11% was a big shock also”

To read the full article visit; https://citywire.co.uk/new-model-adviser/news/prufund-drop-a-big-shock-ifas-on-funds-that-dived-and-thrived-in-crash/a1351625?ref=new_model_adviser_latest_news_list

By |2020-05-01T09:25:10+00:00May 1st, 2020|Uncategorised|0 Comments