Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Prudential Unveils Q Shares Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 05, 2011

Prudential Unveils Q Shares

Reported by Hung Tran

Prudential Investments [see profile] today said it is launching its 401(k)-focused Q shares for "select" mutual funds. It was not immediately clear which funds will be affected by the launch. A Prudential spokesman was not available for comment on the launch.

The shares do not charge 12b-1 service fees and have minimal transfer agency fees, allowing 401(k) plan providers and sponsors flexibility in choosing pricing structures, according to the firm.


Prudential Investments Launches Q Shares for Qualified Plan Investors

January 05, 2011 02:03 PM Eastern Time

NEWARK, N.J.--(EON: Enhanced Online News)--Prudential Investments today announced the launch of its Q Share class for select mutual funds. The share class is designed to meet the emerging fee transparency needs of group retirement plans. The shares do not charge 12b-1 service fees and have minimal Transfer Agency fees, allowing plan providers and sponsors flexibility in choosing pricing structures. Prudential Investments is the mutual fund family of Prudential Financial Inc. (NYSE: PRU).

“As plan providers deal with the implementation of new government regulation for greater fee transparency, Prudential Investments is introducing the Q Share Class for select funds to help them fulfill that responsibility to plan participants,” said Michael Rosenberg, head of Prudential Investments’ Investment Only Defined Contribution group.

A plan’s financial intermediary and/or record keeper will have the option to offer Class Q shares for eligible funds. Plans that decide to offer these shares may convert its current holdings in another share class of a Prudential fund to the fund’s Class Q shares. Eligible plans include 401(k) and 403(b) plans, Keoghs, Profit Sharing Pension plans and Simple IRA plans among others.

“Investors should view the Q Share Class as an opportunity to have a clear accounting of the impact various fees and expenses will have on their accounts by distinguishing between recordkeeping and investment expenses,” Rosenberg added.

Prudential Investments offers mutual funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities. Please visit http://www.prudentialfunds.com for more information.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $750 billion of assets under management as of September 30, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

Mutual fund investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost. There is no assurance a Fund's objectives will be achieved. The risks associated with each fund are explained more fully in each fund's respective prospectus.

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other information about the fund. Contact your financial professional for a prospectus and read it carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, member SIPC.

0192781-00001-00

Contacts Prudential Darrell Oliver, 973-802-9627 Darrell.oliver@prudential.com

Permalink: http://eon.businesswire.com/news/eon/20110105006718/en 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use