Pru Unveils New Real Estate Funds
A news release said the Prudential U.S. Real Estate Fund (A: PJEAX) and the Prudential International Real Estate Fund (A: PUEAX) give investors the opportunity to focus on specific markets. The Prudential U.S. Real Estate Fund focuses on opportunities in the United States, while the Prudential International Real Estate Fund seeks to provide investors with exposure to real estate outside of North America in developed and emerging markets.
“Our real estate funds provide the potential for investors to hedge against inflation,” said Judy Rice, president of Prudential Investments, in the announcement. “These funds offer the potential to lower overall risk, while providing an opportunity for solid performance.”
While clients may invest in the two new real estate funds individually, both also provide exposure to real estate as part of the recently launched Prudential Real Assets Fund (A:PUDAX).
The company said the funds are managed by the real estate securities team at Prudential Real Estate Investors (PREI) comprising:
- Marc Halle, a managing director at PREI, who oversees the global securities team in the U.S., Europe and Asia;
- Rick Romano, a principal who joined PREI in 1998 and is responsible for U.S. real estate securities; and
- Gek Lang Lee, a Singapore-based principal at PREI, with more than 20 years of experience managing real estate securities.
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