M&G unveils new PruFund Planet range of funds with £500m allocation from WithProfits Fund

Targeting positive environmental and social outcomes

M&G has launched a new five-strong range of multi-asset, risk-rated, smoothed funds offering positive environmental and societal outcomes, called PruFund Planet.

PruFund Planet 1-5 funds seek to invest in high-impact solutions to the "world's most pressing ESG challenges" with the aim to deliver similar long-term growth to the existing PruFund range at the same cost to customer. The new range has been developed using an allocation of £500m from the £145bn WithProfits Fund and will combine M&G's asset allocation capabilities with proprietary and third-party investment managers in areas including impact bonds, healthcare and wellbeing, clean technology and systematic equity. M&G to allocate £5bn to fund privately owned sustainable businesses ...