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Rating:Pru's Asset Management Income Falls Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 06, 2009

Pru's Asset Management Income Falls

Reported by John Alzate

Prudential Financial's asset management division posted adjusted operating income of $33 million, down 82 percent from $190 million a year ago.

Company executives attributed the drop mainly to "unfavorable results from proprietary investing and commercial mortgage activities" and "lower performance-based fees primarily related to institutional real estate funds." 

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