Prudential Investments has launched the Prudential Income Builder Fund, offering investors the potential for income and long-term capital growth by investing primarily in income-focused equity, fixed income and non-traditional investments.
The fund, which is a repositioning of the Target Conservative Allocation Fund, is designed to appeal to investors interested in a diversified approach to income investing.
The fund has the flexibility to invest in stocks, bonds, and non-traditional sources including master limited partnerships, global real estate and infrastructure.
QMA1 will manage the fund’s allocations, tactically adjusting the fund’s assets between the equity and fixed income market segments, as well as among other sub-classes. The asset allocation team, which includes Ted Lockwood, managing director and portfolio manager; Ed Campbell, principal and portfolio manager; and Rory Cummings, portfolio manager, identifies investment opportunities by combining proprietary asset allocation analyses with the insights from a seasoned portfolio management team.
Managing the underlying asset classes will be fund sub-advisers Jennison Associates, Prudential Fixed Income and Prudential Real Estate Investors.
“This fund offers a diversified approach to income that can adapt to changing market conditions,” says Stuart Parker, president of Prudential Investments. “It is designed to take advantage of the income-generating capabilities of our asset managers and offers the flexibility investors are looking for to help address their long-term income needs.”