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Products October 29, 2012
Prudential Launches Mutual Fund
Prudential
Investments launched the Prudential Short Duration High Yield Income Fund.
Reported by Kristen Heinzinger
The mutual fund seeks to respond to the investor demand for income in a historically low yielding market. Managed by Prudential Fixed Income’s Global Leveraged Finance Team, the fund offers investors the potential for high income and the ability to potentially benefit from attractive risk-adjusted returns in the short-duration, high-yield market.
The fund invests in high-yield (“junk”) bonds, foreign securities, emerging markets, liquidity risk, and small- and mid-cap issuers.
Prudential Fixed Income’s 12-member Global Leveraged Finance portfolio management team averages 20 years of experience and includes seven high yield managers and five bank loan mangers, supported by 28 credit analysts. Prudential Fixed Income, with $348 billion in assets under management as of June 30, is part of Prudential Financial and manages Prudential Investments’ fixed-income funds.