Prudential created a new fund family from three existing ones, but not under its famous brokerage name. Instead, the wirehouse has chosen to honor its founder while also retaining the Jennison brand that it stronger in the institutional channel. The new fund family will be marketed under the JennisonDryden.
"JennisonDryden mutual funds offer investors the strengths of three leading asset managers," said Judy Rice, president of Prudential Investments. "By combining the expertise of the three to create one mutual fund family, we believe we can help investors reach their financial goals."
As an stand-alone unit, Jennison managed more than $47 billion of separate account and mutual fund assets, primarily for institutions and private clients, although it did have some retail presence. Prudential obviously wants to retain that inheritance.
The Dryden half of the name pays homage to John Fairfield Dryden, according to Prudential officials. Dryden founded The Prudential Insurance Company of America.
The three dozen funds in the new family will be advised by Prudential Investment Management's public equity and fixed-income asset management businesses, including Jennison Associates, Quantitative Management (QM), and Prudential Fixed Income.
JennisonDryden Equity Funds
Funds managed by Jennison Associates LLC (J) and Quantitative Management (QM)
Large-Capitalization Stock Funds
Jennison 20/20 Focus Fund (J)
Jennison Growth Fund (J)
Dryden Stock Index Fund (QM)
Dryden Tax-Managed Equity Fund (QM)
Jennison Value Fund (J)
Small- to Mid-Capitalization Stock Funds
Jennison Equity Opportunity Fund (J)
Jennison Small Company Fund (J)
Dryden Tax-Managed Small-Cap Fund, Inc. (QM)
Jennison U.S. Emerging Growth Fund, Inc. (J)
Sector Stock Funds
Jennison Financial Services Fund (J)
Jennison Health Sciences Fund (J)
Jennison Natural Resources Fund, Inc. (J)
Jennison Technology Fund (J)
Jennison Utility Fund (J)
Global/International Stock Funds
Jennison Global Growth Fund (J)
Jennison International Growth Fund (J)
Balanced Stock and Bond Funds
Dryden Active Balanced Fund (QM)
JennisonDryden Fixed Income Funds
All funds managed by Prudential Fixed Income
Taxable Bond Funds
Dryden Government Income Fund, Inc.
Dryden High Yield Fund, Inc.
Dryden Short-Term Corporate Bond Fund
Dryden Total Return Bond Fund, Inc.
Dryden Ultra Short Bond Fund
Global/International Bond Fund
Dryden Global Total Return Fund, Inc.
Municipal Bond Funds
Dryden Municipal Bond Fund/High Income Series
Dryden Municipal Bond Fund/Insured Series
Dryden National Municipals Fund, Inc.
Dryden California Municipal Fund/California Series
Dryden California Municipal Fund/California Income Series
Dryden Municipal Series Fund/State Specific (FL, NJ, NY, PA)
Money Market Funds
Dryden Government Securities Trust/Money Market Series
Dryden Government Securities Trust/U.S. Treasury Money Market Series
Special Money Market Fund, Inc./Money Market Series
MoneyMart Assets, Inc.
Dryden California Municipal Fund/California Money Market Series
Dryden Municipal Series Fund/State Specific Money Market Series
Dryden Tax-Free Money Fund, Inc.
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