Prudential Investments launches Prudential Jennison Rising Dividend Fund
Prudential Investments has launched the Prudential Jennison Rising Dividend Fund, which will invest primarily in US-listed large cap equities with a focus on stocks of companies with a history of consistently paying and increasing their dividends.
The fund will be diversified across sectors and industries. The fund uses the S&P 500 Index as its benchmark index.
“Stocks with growing dividends have historically demonstrated attractive risk-return profiles,” says Stuart Parker, president of Prudential Investments. “This fund may represent a terrific opportunity for investors seeking growth with potentially lower risk compared to other asset categories.”
The fund is sub-advised by Jennison Associates’ income and infrastructure team which uses a bottom-up, fundamental researched-based security selection process. The portfolio managers are Shaun Hong and Bobby Edemeka, who manage Jennison’s utility, equity income, global infrastructure and MLP strategies.
“The team’s deep experience in identifying attractively valued companies whose fundamentals indicate the potential ability to generate attractive, sustainable yields should help deliver capital appreciation with the potential for a growing income stream over time,” says Edemeka.
The fund offers A (PJDAX), C (PJDCX) and Z (PJDZX) share classes, with the latter only being offered to a limited group of investors.
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