NEWARK, N.J.–(BUSINESS WIRE)– Prudential Financial, Inc. (NYSE: PRU) announced today that JennisonDryden, its mutual fund family, will be renamed Prudential Investments, effective on or about Feb. 16, 2010. The mutual fund family offers funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities.
While the fund names will change to feature Prudential’s name—linking the fund family to the company’s 135-year heritage—the funds’ ticker symbols, investment objectives and portfolio management teams remain unchanged.
“Prudential has helped millions around the world achieve their financial goals, so it’s fitting for our fund family to reflect the company’s longstanding reputation,” said Judy Rice, president of Prudential Investments. “The new name also reflects Prudential’s position among the largest managers of U.S. institutional assets.”
Prudential has offered mutual funds to investors for more than 20 years, and has sold them under the JennisonDryden name since 2003.
“As we continue to build on our successful track record, and as investors seek out trusted companies in a new economic landscape, it’s important to give financial professionals a clear way to let investors know that they are investing through a company whose experience, expertise and innovation has stood the test of time,” added Rice.
Experienced asset managers, including Jennison Associates, Quantitative Management Associates, Prudential Fixed Income Management and Prudential Real Estate Investors, will continue to manage the funds. Those managers, part of Prudential’s asset management businesses, also manage money for major corporations, foundations, and pension funds around the world.
Jennison-managed funds will continue to carry the Jennison name as “Prudential Jennison.” Dryden and JennisonDryden-named funds will be renamed Prudential. When the name change is final, financial professionals, shareholders and other interested stakeholders can continue to search by fund name, but will simply need to remember to search under “Prudential” to bring up a complete list of funds. For a complete list of name changes, please visit http://www.jennisondryden.com/view/pageand click on the name change banner.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $641 billion of assets under management as of September 30, 2009, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the United States, the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential’s businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit http://www.news.prudential.com.
Mutual fund investing involves risk. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth less than the original cost.
Investors should consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other information about the fund. Your clients should read it carefully before investing. Contact the JennisonDryden Sales Desk at (800) 257-3893 to obtain a copy of the prospectus.
Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. Prudential Fixed Income Management and Prudential Real Estate Investors are unites of Prudential Investment Management (PIM). Quantitative Management Associates, Jennison Associates and PIM are Registered Investment Advisors and Prudential Financial companies. JennisonDryden, Prudential Financial, and the Rock Prudential logo are registered service marks of The Prudential Insurance Company of America, Newark, N.J., and its affiliates.
Prudential Financial, Inc.
Source: Prudential Financial, Inc.