Prudential has opened a new member of the Strategic Partners fund family. The insurer turned to outside managers to pilot the investment picking for The Strategic Partners New Era Growth Fund. Susan Hirsch of Jennison Associates and John Ballen of MFS Investment Management will manage the fund.

The fund is the second addition to the new line of funds being put together by Prudential and it is expected that the insurer will be adding more to the family in the near future. The insurer's goal is develop a line funds offering the "cream-of-cream" of investment managers. Prudential will distribute the funds through its existing channels.

The pair will select up to 140 stocks, Hirsch handling the companies on the smaller end of the spectrum and Ballen handling the larger ones.

"This fund, and the Strategic Partners Family of Funds, represents our belief that investors are attracted to investment offerings which combine well-known fund managers hand-picked from throughout the industry with special expertise in a given style," said David Odenath, president of Prudential investments.

The insurer started a similarly-styled family of annuities earlier this month with the opening of Strategic Partners Annuity One. The annuity features a broad selection of sub-advised portfolios across the spectrum of asset classes and styles. Proven managers include AIM, Alliance, Davis, Deutsche, Fidelity, INVESCO, Janus, Jennison, MFS, PIMCO and Prudential. 

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