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Tuesday, July 08, 2003|
Prudential Offers Up New Moniker
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
Small- to Mid-Capitalization Stock Funds
Sector Stock Funds
Global/International Stock Funds
Balanced Stock and Bond Funds
JennisonDryden Fixed Income Funds
All funds managed by Prudential Fixed Income
Taxable Bond Funds
Global/International Bond Fund
Municipal Bond Funds
Money Market Funds
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