Smoothed funds set to be a 'bigger asset class for the advice market'

Speaking on a webinar celebrating 20 years since its smooth fund – PruFund – launched, M&G Life CEO Clive Bolton described it as an asset class that is attractive to clients whether they are in accumulation or in drawdown. "This is important as after a decade of relatively benign economic conditions the world now seems like a much more dangerous place," Bolton said. "We've had the Covid-19 pandemic and the resultant increase in sovereign debt and the political ramifications of that. Also, there's the ongoing conflict in Ukraine and a new political order in the US. "Its [PruFund's] siz...