NU Online News Service, July 8, 2003, 4:58 p.m. EDT – Prudential Financial Inc., Newark, N.J., has set up the JennisonDryden family of mutual funds.
The funds are managed by Prudential’s public stock and bond money managers, including Jennison Associates, Quantitative Management and Prudential Fixed Income.
The three units manage more than $220 billion in assets.
The new fund family will offer free exchanges, so that investors can exchange fund shares for same-class shares in other mutual funds in the family.
The new family will include five large-cap stock funds, four small-cap and mid-cap stock funds, five sector stock funds, two international stock funds, two balanced funds, five taxable bond funds, one international bond fund, six municipal bond funds and six money-market funds.