The new funds include a large-cap growth offering from
"In todays market environment, consumers want assurances that the investment choices in their retirement programs are screened not only for performance, but also for the stability and integrity of the fund manager," said George Palms, senior vice president of investment products and advisory services at Prudential Retirement.
All three will part of Prudentials "manager-of-managers" program. In the program, each fund is put through a "rigorous, multi-step quantitative and qualitative analysis that evaluates potential candidates based on nominal and risk-adjusted returns, downside risk, active management expertise, style consistency and the overall reputation and capabilities of the investment-management firm," according to Palms.
And Prudential can replace poor performing managers in sub-advised funds in the program without any needed action by sponsors.
