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Rating:A Platform Green-Lights a Dozen Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 08, 2013

A Platform Green-Lights a Dozen Funds

Reported by Tommy Fernandez

A dozen institutional sub-advised mutual funds have gained access to the Manager-of-Managers platform of Prudential's Prudential Retirement business.

The funds include:  

  • the Large Cap Value / Becker Capital Fund (advised by Becker Capital)
  • the Large Cap Value / Ceredex Value Advisors Fund (advised by Ceredex Value Advisors)
  • the Large Cap Value / Nuveen Asset Management Fund (advised by Nuveen Asset Management, LLC)
  • the Large Cap Growth / Brown Fund (advised by Brown Advisory)
  • the Large Cap Growth / Fayez Sarofim Fund (advised by Fayez Sarofim & Co.)
  • the Mid Cap Value / Invesco Fund (advised by Invesco Advisers, Inc.)
  • the Mid Cap Value / WEDGE Fund (advised by WEDGE Capital Management LLP)
  • the Mid Cap Growth / American Century Fund (advised by American Century Investment Management, Inc.)
  • the Small Cap Growth / Palisade Capital Management Fund (advised by Palisade Capital Management, LLC)
  • the Real Estate / American Century Fund (advised by American Century Investment Management, Inc.)
  • the Real Estate / Cohen & Steers (advised by Cohen & Steers)
  • the International Blend / Neuberger Berman Fund (advised by Neuberger Berman)
    The additional twelve funds bring the total number of institutional sub-advised funds on the Manager-of-Managers platform to 78. The program is currently only available to plans working with Prudential as a recordkeeper.

    “We remain focused on continuously enhancing our Manager-of-Managers investment platform which provides those clients seeking fiduciary support with skilled investment managers, rigorous oversight and daily guideline monitoring,” stated Joan Bozek, senior vice president, Prudential Retirement’s Institutional Investment Solutions. “Today’s market environment demands this approach, and Prudential Retirement believes that a focus on managing risk is critical for plan sponsors and their intermediaries. For plan sponsors, fulfilling fiduciary duties has become more complex and our oversight process can help plan sponsors and their advisors build sound investment menus."

    Here is the press release:
    Company Press ReleasePrudential Retirement Adds New Funds To Manager-of-Managers Investment Lineup

    NEWARK, N.J.--In a move designed to strengthen the breadth, depth, and competitiveness of its investment offerings, Prudential Retirement, a business of Prudential Financial, Inc. (PRU), announced it has added 12 new institutional sub-advised funds, including a new non-traditional asset class, real estate, to its Manager-of-Managers platform. The new funds include:

        -   Large Cap Value / Becker Capital Fund (Becker Capital)
    - Large Cap Value / Ceredex Value Advisors Fund (Ceredex Value Advisors)
    - Large Cap Value / Nuveen Asset Management Fund (Nuveen Asset Management, LLC)
    - Large Cap Growth / Brown Fund (Brown Advisory)
    - Large Cap Growth / Fayez Sarofim Fund (Fayez Sarofim & Co.)
    - Mid Cap Value / Invesco Fund (Invesco Advisers, Inc.)
    - Mid Cap Value / WEDGE Fund (WEDGE Capital Management LLP)
    - Mid Cap Growth / American Century Fund (American Century Investment Management, Inc.)
    - Small Cap Growth / Palisade Capital Management Fund (Palisade Capital Management, LLC)
    - Real Estate / American Century Fund (American Century Investment Management, Inc.)
    - Real Estate / Cohen & Steers (Cohen & Steers)
    - International Blend / Neuberger Berman Fund (Neuberger Berman)
     

    “We remain focused on continuously enhancing our Manager-of-Managers investment platform which provides those clients seeking fiduciary support with skilled investment managers, rigorous oversight and daily guideline monitoring,” said Joan Bozek, senior vice president, Prudential Retirement’s Institutional Investment Solutions. “Today’s market environment demands this approach, and Prudential Retirement believes that a focus on managing risk is critical for plan sponsors and their intermediaries. For plan sponsors, fulfilling fiduciary duties has become more complex and our oversight process can help plan sponsors and their advisors build sound investment menus," said Bozek.

    The institutional sub-advised funds on Prudential Retirement’s Manager-of-Managers platform offers retirement plan sponsors seeking fiduciary support a suite of investment funds sub-advised by highly regarded, institutional-quality, asset management firms. All possess strong investment infrastructures with proven deep research. With respect to the institutional sub-advised funds, Prudential selects, monitors and will, if needed, replace sub-advisors on the platform. The additional twelve funds bring the total number of institutional sub-advised funds on the Manager-of-Managers platform to 78. The program is currently only available to plans working with Prudential as a recordkeeper.

    Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement expertise, Prudential Retirement helps meet the needs of over 3.8 million participants and annuitants. Prudential Retirement has $301.8 billion in retirement account values as of June 30, 2013.

    Prudential Financial, Inc. (PRU), a financial services leader, 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 and investment management. 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 visithttp://www.news.prudential.com/.

    Prudential Retirement’s Manager-of-Managers funds are offered through separate accounts available under group annuity contracts issued by Prudential Retirement Insurance and Annuity Company; PRIAC, Hartford, CT, a Prudential Financial company.
     

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