Pru with-profits praised

fund has delivered positive returns over the past five years while others in sector suffered

The Prudential with-profits fund has been praised by Cazalet Consulting for achieving solid returns over the past five years, while its peers have suffered. The report also highlights that while some life offices' funds posted fair returns, some of this was by accident as they were forced into a higher allocation to bonds because of liability concerns rather than as an investment decision. Ned Cazalet, director at Cazalet Consulting, said quality asset allocation by the Pru helped it generate superior underlying with-profits performance, while its cautious product design meant it had less...