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.
Strategist was developed by Prudential's international investment group, which creates investment products and programs for individuals and institutions outside the U.S. It specializes in index-related and traditional actively-managed mutual funds, guaranteed investment products and fee-based asset management programs, the company said.