Prudential Investments, a mutual fund business of Prudential Financial, has launched the Prudential Jennison MLP Fund to allow investors to invest in master limited partnerships.
The new fund is designed to give investors an opportunity to participate in the expanding need for enhanced infrastructure, with a focus on businesses that support increased US energy production.
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Managed by portfolio managers Bobby Edemeka and Shaun Hong, the new MLP fund will seek for a total return through a combination of income and long-term capital appreciation.
The fund management team will focus on midstream companies that are engaged in the transportation, storage, processing, refining, marketing, exploration and production of oil and gas or the mining of minerals or other natural resources.
Stuart Parker, president of Prudential Investments, said: "The MLP fund provides investors with the potential to benefit from current income and long-term capital appreciation by capitalizing on the rapid increase in energy production in the US, a trend that we expect will continue based on current market conditions."
Commenting on the launch, Edemeka added: "The fund also offers a potential hedge against inflation because energy MLP contracts often allow prices to rise with inflation."
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