International Savings and investments business M&G plc announced today the launch of PruFund Planet, an ESG-focused version of its flagship £56 billion PruFund range of funds. The new offering aims to combine smoothed market returns and positive environmental and social outcomes.

According to the company, the funds will leverage the same core investment capabilities as M&G’s PruFund range, which aims to smooth volatile market moves, spreading the risk of investments over a number of different types of securities, including cash, bonds, property, and equities. The funds are available in a range of risk classes.

Key ESG focus areas for the new funds include the path towards a circular economy, environmental solutions, climate action, improved social health and wellbeing, social inclusion, and better work and education.

John Foley, Chief Executive of M&G plc, said:

“We’re committed to putting sustainability at the heart of everything we do. That means finding innovative ways for our customers to earn attractive returns and make a positive difference with their savings. Our research among financial advisers suggests that half their clients want an ESG or sustainable alternative to conventional pension and savings funds. That’s why an allocation of £500 million from the With-Profits Fund has been used in developing our Prufund Planet strategy.”

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