Prudential Investments has launched a long-term growth equity fund that invests in companies from a broad range of countries, including emerging markets.
The fund, called Jennison Global Opportunities Fund, will be managed by the four-member global equity team of Jennison Associates, led by Mark Baribeau and will charge a management fee of 90 basis points. Another member of the management team is Tom Davis. Both Baribeau and Davis joined Jennison last year from Loomis Sayles & Co. While at Loomis, Baribeau was co-manager of its global growth and global equity opportunity focuses.
It will invest in equity or equity-related securities of companies from around the world, and is not constrained by region, country or industry sector.
"Investors should view the fund as a good way to help diversify and potentially grow their portfolios, since the managers have the freedom to invest in any company anywhere in the world where they see the best opportunities," said Stuart Parker, president of Prudential Investments, in a statement.
Jennison is a wholly owned subsidiary of Prudential Financial and manages many of Prudential Investments' equity funds. Prudential Investments is the mutual fund family of Prudential Financial, Inc.
