Strategic partnerships reinforce The Highest Daily Company’ssm commitment and capacity
NEWARK, N.J.--(BUSINESS WIRE)-- Reinforcing its commitment to growth and innovation in the guaranteed retirement income market, http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.annuities.prudential.com%2Finvestor&esheet=50257818&lan=en-US&anchor=Prudential+Annuities&index=1&md5=83892dfa9a16ba496f33274e4409f6cf, the domestic annuity business for Prudential Financial, Inc. (NYSE:PRU), today announced two new asset allocation options for its leading investment lineup.
The new portfolios include the AST New Discovery Asset Allocation Portfolio and AST Schroders Global Tactical portfolio. These changes bring the total number of asset allocation portfolios to 19. These portfolios span four diverse strategies, and can be selected as stand-alone options, or combined at the client’s choice.
Prudential Annuities also announced the addition of sub-advisors to two existing individual investment options: Emerald Advisers, Inc., for the AST Small Cap Growth Portfolio; and Jennison Associates, LLC, for the AST International Growth Portfolio. These single asset class additions offer investors additional choices if they prefer to create their own customized portfolio. The AST Small Cap Growth portfolio, which has been managed by Eagle Asset Management, will now be co-managed with Emerald Advisors. Emerald Advisers brings specialized focus on small cap growth research and investing. Within the AST International Growth portfolio, there will be the addition of Jennison Associates. Jennison will complement the two existing managers, William Blair and Marsico Capital Management.
“We remain focused on continuously enhancing our investment options to provide investors with unparalleled choice*, broad flexibility and rigorous oversight. Today’s market environment demands this, and we remain one of the few providers able to offer such a robust platform of investment and product options,” said Douglas McIntosh, vice president of Investment Management for Prudential Annuities. “These enhancements emphasize not only our commitment to active management, but also our access and utilization of boutique managers.”
The AST New Discovery Asset Allocation Portfolio is part of Prudential Annuities’ traditional strategy and will focus on seeking total return comprised of both capital appreciation and income. It is a multi-asset class portfolio, and provides exposure to a diversified mix of domestic and international equity securities, along with fixed-income securities. It is managed by seven different, well-regarded boutique managers, and will also leverage the strength of the Prudential Investments research team, which will manage the overall asset allocation among the seven managers.
The AST Schroders Global Tactical Portfolio is positioned in the tactical strategy, and combines the simplicity of a balanced fund with the agility of a tactical asset allocation strategy. This portfolio has the potential to perform well in a wide variety of market environments, leveraging Schroders’ global perspective and broad investment universe. It has exposure to international equities, which improves portfolio breadth and the potential to benefit from economic trends outside of the U.S.
McIntosh concluded, “Delivering these new options effectively expands our global reach, demonstrates our overall capacity and is consistent with our commitment to deliver continual innovation.”
Prudential Annuities, a division of Prudential Financial, Inc., creates and markets variable annuity products that provide tax advantages for those saving for retirement, and a way to transition their savings into guaranteed income they cannot outlive. Learn more at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.retirementredzone.com%2F&esheet=50257818&lan=en-US&anchor=www.retirementredzone.com&index=2&md5=f7fb66320ef88d62ea469f842dd7576f.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, 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://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.news.prudential.com%2F&esheet=50257818&lan=en-US&anchor=http%3A%2F%2Fwww.news.prudential.com%2F&index=3&md5=8e328ce4443570f54c2a5c837c14af8d
A variable annuity is a long-term investment designed for retirement purposes. Investment returns will fluctuate and the principal value, when redeemed, may be worth more or less than the original investment. Withdrawals or surrenders may be subject to contingent deferred sales charges.
Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59 ½, may be subject to an additional 10% federal income tax penalty. Withdrawals, for tax purposes, are deemed to be gains out first. Withdrawals can reduce the account value and the living and death benefits.
Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Your licensed financial professional can provide you with complete details.
Investors should consider the contract and the underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained on the http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.prudential.com%2Fview%2Fpage%2Fpublic%2F12669&esheet=50257818&lan=en-US&anchor=prospectus+page&index=4&md5=0acf32f8b0ec03a7db3257685afb3671 or from your financial professional. Please read the prospectus carefully before investing.
All guarantees, including optional benefits, do not apply to the underlying investment options.
Fixed income investments are subject to risk, including credit and interest rate risk. Because of these risks, a subaccount's share value may fluctuate. If interest rates rise, bond prices usually decline. If interest rates decline, bond prices usually increase.
Asset allocation does not guarantee a profit or protect against a loss. Application of diversification does not ensure safety of principal or interest. It is possible to lose money by investing in securities.
Prudential Annuities, its distributors and representatives do not provide tax, accounting, or legal advice. Please have your clients consult their own attorney or accountant.
An investment in a portfolio containing equity securities should be made with an understanding of the risks involved, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general conditions of the stock market.
To the extent a portfolio invests in small capitalization companies, the risk is greater than with larger companies because shares of small companies tend to be less liquid and more volatile than those of large companies.
Investments in international securities generally involve more risk than investments in securities of U.S. corporate and governmental issuers. International investment risk includes: Changes in currency exchange rates may affect the value of international securities held by a portfolio; international markets generally are more volatile than U.S. markets, are not subject to regulatory requirements comparable to those in the U.S., and are subject to differing custody and settlement practices; international financial reporting standards usually differ from those in the U.S.; international exchanges are smaller and less liquid than the U.S. market; political developments may adversely affect the value of a portfolio’s international securities; and international holdings may be subject to confiscatory or special taxation and limitations on repatriating investment proceeds. These risks are heightened for investments in the securities of emerging market issuers.
An excess withdrawal occurs when your cumulative Lifetime Withdrawals exceed your Annual Income Amount in any annuity year. If an excess withdrawal is taken, only the portion of the Lifetime Withdrawal that exceeds the remaining Annual Income Amount will proportionally reduce your Protected Withdrawal Value and your Annual Income Amount for future years. If a withdrawal in excess of the Annual Income Amount reduces the account value to zero, no further amount would be payable under either benefit and the contract terminates.
Annuities are issued by Pruco Life Insurance Company (in New York, by Pruco Life Insurance Company of New Jersey), Newark, NJ and distributed by Prudential Annuities Distributors, Inc., Shelton, CT. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc.
* Based on the offering of our asset allocation portfolios spanning four diverse strategies and compared to the top 15 advisor-sold annuities. (Source: Research by Prudential Annuities, December 2011)
Prudential Financial, Inc.
Lisa M. Bennett, 973-802-2894
Source: Prudential Financial, Inc.
Copyright Business Wire 2012