Prudential Investments has unveiled a new Prudential Jennison Rising Dividend Fund to invest primarily in US-listed large cap equities.
The objective of the fund is to generate capital appreciation and income by investing in companies to generate high free cash flow that can be returned to investors as growing dividend payouts.
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According to Prudential, the fund will be diversified across sectors and industries, using the S&P 500 Index as its benchmark index.
The portfolio managers for the fund include Shaun Hong and Bobby Edemeka, who will manage Jennison’s utility, equity income, global infrastructure and MLP strategies.
The fund will be sub-advised by Jennison Associates’ income and infrastructure team that uses a bottom-up, fundamental researched-based security selection process.
Stuart Parker, president of Prudential Investments, said: "This fund may represent a terrific opportunity for investors seeking growth with potentially lower risk compared to other asset categories."
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By GlobalData"Over the long term, dividend growing stocks have delivered very competitive historical returns with generally lower volatility than the broader market," said Hong.
