The mutual fund team at Prudential Investments is levrageing the investment skills it is building at its Jennison Associates affiliate for new mutual funds.
Stuart Parker, president of Prudential Investments, took the wraps of the Prudential Jennison International Opportunities Fund on Tuesday when it opened to investors.
Mark Baribeau, who heads Jennison Associates four-member Global Equity Team the money manager lifted from Loomis Sayles, is the lead PM on the fund.
Baribou was one of four investment professionals who joined Jennison in April of 2011 as part of a lift out from Loomis Sayles.
Company Press Release
NEWARK, N.J., Jun 05, 2012 -- Prudential Investments has launched the Prudential Jennison International Opportunities Fund (a:PWJAX), a mutual fund that offers the potential for long-term capital growth by investing in companies located outside the United States. The Fund seeks to add broad international diversification and growth potential to investor portfolios by tapping the global expertise of its veteran team of portfolio managers and analysts. Prudential Investments is the mutual fund family of Prudential Financial, Inc. PRU +2.62% .
The Fund's investment strategy is flexible, enabling the managers to seek the best equity opportunities without regional, country, sector, or benchmark constraints. It may invest a significant portion of its assets in companies located in emerging markets. Companies will be chosen using the management team's bottom-up selection process, which is based on rigorous internal fundamental research. There is no guarantee the fund's objective will be achieved.
"We are pleased to offer investors an opportunity to invest in promising companies outside the U.S. selected by a team of portfolio managers with deep experience in the international markets," said Stuart Parker, president of Prudential Investments.
The Fund is managed by Jennison Associates LLC's four-member Global Equity Team, who average 19 years of investment experience and is headed by Mark Baribeau. As part of its fundamental research, the team examines an investment candidate's current market share and positioning relative to its competitors, prominence within its industry, ability to benefit from economies of scale and potential to increase market share among other factors. The team also leverages the insights and experience of Jennison's 27 research analysts, many of whom are sector specialists and work on the firm's other equity strategies. Jennison is a wholly owned subsidiary of Prudential Financial and manages many of Prudential Investments' equity funds. Founded in 1969, it is one of the nation's leading managers of growth, value, blend, global, and specialty strategies.
The fund is available in the following share classes: A:PWJAX, C :PWJCX , Z PWJZX.
Prudential Investments, the mutual fund and wealth management business of Prudential Financial, Inc. PRU +2.62% , oversees Prudential Mutual Funds, which focuses on traditional mutual funds, separately managed accounts, and Investment Only Defined Contribution businesses. Prudential Investments also maintains two other business units, Wealth Management Solutions and Strategic Investment Research Group.
Prudential Financial, Inc. PRU +2.62% , a financial services leader with approximately $943 billion of assets under management as of March 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/
Fund risk information
The Fund may invest in foreign securities, which are subject to currency fluctuation and political uncertainty; non-U.S. issuer securities may also be less liquid than U.S. stocks and bonds; emerging market securities, which are subject to greater volatility and price declines; mid-cap stocks, which may be subject to more erratic market movements than large-cap stocks; short sales, which involve costs and the risk of potentially unlimited losses; illiquidity risk exists when particular investments are hard to sell; geographic concentration, which can result in more pronounced risks based upon economic conditions that impact one or more countries or regions more or less than other countries or regions; and derivative securities, which may carry market, credit, and liquidity risks. Derivatives may not have the intended effects and may result in losses or missed opportunities.
Asset allocation and diversification do not assure a profit or protect against loss in declining markets. These risks may increase the Fund's share price volatility. There is no guarantee the Fund's objective will be achieved. The risks associated with the Fund are more fully explained in the Fund's prospectus and summary prospectus
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contains this and other information about the fund. Contact your financial professional for a prospectus or summary prospectus. Read them carefully before investing.
Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Jennison Associates is a registered investment advisor and a Prudential Financial company. SIRG is a unit of Prudential Investments LLC (PI), and a research unit of Prudential Financial. Wealth Management Solutions is a division of PI, and a Prudential Financial company. Prudential Investments, Prudential, Jennison Associates, Jennison, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide.