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Rating:Prudential Fund Raises $200M in One Month Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, March 08, 1999

Prudential Fund Raises $200M in One Month

Reported by Tony Pennino

The Prudential Tax Managed Equity Fund has over $200 million in assets under management after its introduction to investors in late January of 1999.

The fund targets growth at or exceeding that of the S&P 500 Index. One of its goals is also to limit the tax burden of shareholders.

The fund is managed by Mark Stumpp, James Scott, and Ted Lockwood.

"We've seen a great demand for products which combine the potential for solid long term performance with an eye toward tax-management. Going forward, we believe more investors will seek our fund managers who can provide strong after-tax returns, particularly for their retirement assets outside of qualified plans," said Neil McGuinness, executive vice president for marketing at Prudential Investments

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