Prudential Retirement, a business of Prudential Financial 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:
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- 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)
Joan Bozek, senior vice president, Prudential Retirement’s Institutional Investment Solutions, said: "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. 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."
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.
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By GlobalDataPrudential 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 US$301.8 billion in retirement account values as of June 30, 2013.
