According to a news release, the three funds – covering the Large Cap Value, Large Cap Growth and Fixed Income asset classes – will be run by existing sub-adviser partners within Prudential Retirement’s Manager-of-Managers program, which evaluates investment options 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.
The new funds will be screened to ensure they only invest in companies that avoid business practices that may be viewed as detrimental to society or in violation of religious teachings, according to the announcement. The funds will also be encouraged, consistent with their investment objectives, to invest in firms that respect human rights; demonstrate a commitment to the communities in which they operate; and exhibit leadership in the areas of diversity, environmental stewardship and corporate governance.
The three new funds and their sub-advisers are:
- Morally Responsible Large Cap Value, Aronson + Johnson + Ortiz.
- Morally Responsible Large Cap Growth, Turner Investment Partners,
- Morally Responsible Core Plus Bond, PIMCO.
For more information, contact Ric Filippelli, director, Investment Products, at Prudential Retirement, at (860) 534.8443.