If you're an international stocks manager and want to sell
your business, Charles Lowrey
wants to talk to you.
Lowrey, CEO of Prudential Investment Management
, told Reuters
that he is on the hunt for deals, and
prefers a small-scale transaction to make integration easier.
Noting that Pru's real estate and fixed income units have pulled in "record inflows" for three straight years, Lowrey said it was a priority to address the lack of global equities expertise.
"We don't have a capability there...it's the one area we've been looking for," he said.
Meanwhile, don't expect Prudential to jump onto the bandwagon of mutual fund firms trying their hand in the ETF space.
"We are in the mutual fund business, we have no plans to get into the ETF business," Lowrey said.
Armie Margaret Lee
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