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October 10, 2013 at 10:36 AM
Prudential Retirement, a business unit of Prudential Financial (Prudential) added 12 new institutional sub-advised funds to its Manager-of-Managers platform.
The expansion, designed to increase the range and therefore the competitiveness of their Manager-of–Managers platform, includes a new, nontraditional asset class: Real estate.
The platform avails retirement plan sponsors seeking fiduciary support to a suite of investment funds sub-advised by respected, institutional-quality asset management firms. Prudential, in turn, selects and monitors the sub-advisors active on the platform.
The program, which is exclusively available to plans working with Prudential as recordkeeper now has a total of 78 sub-advised funds on the platform.
The new funds are:
- 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 Bergman Fund (Neuberger Berman)
In personnel news:
New York Life Insurance Company (New York Life) announced that Pooja Rahman has joined the company as vice president, International Regulatory Affairs.
Rahman will bring the expertise culled from her previous role as manager and counsel, international policy and analysis for National Association of Insurance Commissioners (NAIC) to her new position.
She will be responsible for developing and implementing policy positions that influence both domestic and international policymakers’ decisions on myriad issues related to international solvency and accounting standards for insurers as well as on insurance supervision.
