The Prudential Insurance Company of America of Newark, N.J. has begun offering a global asset management program to non-U.S. clients, the company announced. The program, Strategist, is a fee-based program that uses more than 20 country-related and sector asset classes to build portfolios according to clients' risk and return objectives. Similar to separately-managed accounts, each portfolio of the more than 100 model portfolios that have been developed will be actively-managed by an investment team, Prudential said. The model portfolios range in risk class from aggressive all-equity to more conservative stock and bond funds.
Strategist is available to individuals and institutions for a minimum investment of $50,000, a significantly lower minimum than is usually charged for private banking, said Mike Hanretta, a spokesperson for Prudential. Strategist is currently available only through Prudential's securities offices worldwide, but the company is negotiating with independent distributors, Hanretta said.