Prudential Annuities adds six funds to Highest Daily investment platform
Prudential Annuities adds six funds to Highest Daily investment platform
New portfolios reinforce opportunity to drive account value growth, guaranteed income in retirement
NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYS: PRU) , today announced the addition of six new asset allocation portfolios from leading money managers to its Highest Daily® variable annuity investment platform. When used with the Highest Daily benefits, available for an additional fee, these diverse portfolios have the potential to help drive account value growth and guaranteed income during retirement.
The additions bring the total number of asset allocation portfolios to 21, and span four investment strategies: traditional, tactical, quantitative and alternative. All of the asset allocation portfolios can be selected as stand-alone options or combined.
"Our innovative approach to risk management allows us to offer investors access to a broad range of investment strategies," said Timothy Cronin, Chief Investment Officer for Prudential Annuities. "Today's enhancements reinforce our commitment to choice, flexibility and active management."
The six new portfolios include:
1. | AST BlackRock iShares ETF Portfolio | |
Invests in iShares exchange traded funds (ETFs) across global equity and fixed-income asset classes. | ||
2. | AST Defensive Asset Allocation Portfolio | |
A portfolio designed for investors seeking to minimize their equity exposure. | ||
3. | AST Franklin Templeton Founding Funds Plus Portfolio | |
A broadly diversified portfolio consisting of four cornerstone Franklin Templeton strategies that target stocks and bonds that appear attractively valued. | ||
4. | AST Goldman Sachs Multi-Asset Portfolio | |
Provides access to traditionally underexposed "growth markets" regions; replaces the AST Horizon Moderate Asset Allocation Portfolio. | ||
5. | AST Prudential Growth Allocation Portfolio | |
Actively managed portfolio that determines allocation and security selection through a quantitative model, as well as insights and judgment from an experienced asset allocation team; replaces the AST First Trust Capital Appreciation Target Portfolio. | ||
6. | AST RCM World Trends Portfolio | |
Takes advantage of investment opportunities and trends throughout the world by combining a quantitative model with fundamental research; replaces the AST Moderate Asset Allocation Portfolio. | ||
"Today's investors remain concerned with achieving the returns they need for a secure retirement. Our new asset allocation portfolios can help provide additional opportunity for investors to achieve returns," says Douglas McIntosh, vice president of Investment Management for Prudential Annuities. "With this leading lineup, we offer portfolios that can provide growth opportunities, while maintaining appropriate levels of risk."
"Prudential has been a leader in creating innovative strategies to address the retirement income needs of clients," said Brian Gaffney, CEO U.S. for Allianz Global Investors. "We are thrilled to partner with Prudential Annuities to bring our unique Dynamic Multi-Asset capability to clients in the U.S. for the first time."
Prudential Annuities, a division of Prudential Financial, Inc., creates and markets variable annuity products that provide tax advantages for those saving for retirement, and a way to transition their savings into guaranteed income they cannot outlive. Learn more at www.retirementredzone.com.
A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor's units, when redeemed, may be worth more or less than the original investment. Withdrawals or surrenders may be subject to contingent deferred sales charges. Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty. Withdrawals, other than from IRAs or employer retirement plans, are deemed to be gains out first for tax purposes. Withdrawals reduce the account value and the living and death benefits.
Variable annuities offered by Prudential Financial companies are available at a total annual insurance cost of 0.55% to 1.95%, with an additional fee related to the professionally managed investment options. Note: All products may not be available through all third party broker/dealers.
HD Lifetime Income is available for an additional annual fee of 1.00% based on the greater of the account value and the Protected Withdrawal Value.
All guarantees, including optional benefits, are backed by the claims-paying ability of the issuing company and do not apply to the underlying investment options.
Asset allocation does not ensure a profit or protect against a loss.
Prudential Annuities, its distributors and representatives do not provide tax, accounting, or legal advice. Please consult your own attorney or accountant.
Optional living and death benefits may not be available in every state and may not be elected in conjunction with certain optional benefits. Optional benefits have certain investment, holding period, liquidity, and withdrawal limitations and restrictions. The benefit fees are in addition to fees and charges associated with the basic annuity. Please see the prospectus for more information.
An investment in an exchange-traded fund involves risks similar to those of investing in a broadly based portfolio of equity or debt securities traded on exchange in the relevant securities market. The investment return and principal value of ETF investments will fluctuate over time. ETFs that offer leverage or that are designed to perform inversely to the index or benchmark they track (or both) are highly complex financial instruments that are typically designed to achieve their objectives on a daily basis. Due to the effects of compounding, their performance over longer periods of time can differ significantly from the performance (or inverse of the performance) of the underlying index or benchmark during the same period of time.
The value or price of a particular stock or other equity or equity-related security owned by a portfolio could go down and you could lose money.
Investment in fixed-income securities involves a variety of risks, including: 1) the risk that an issuer or guarantor of a security will be unable to pay some or all of the principal and interest when due (credit risk); 2) the risk that the portfolio may not be able to sell some or all of the securities it holds, either at the price it values the security or at any price (liquidity risk); and 3) the risk that the rates of interest income generated by the fixed-income investments of the portfolio may decline due to a decrease in market interest rates and that the market prices of the fixed-income investments of the portfolio may decline due to an increase in market interest rates (interest rate risk).
In addition to risks inherent to investment in equity and fixed income securities, investments in international equity and debt securities involve risk of exposure to: changes in currency exchange rates, differing regulatory and taxation requirements, alternative financial reporting standards, and political, social and economic changes which may adversely affect the value of a portfolio's international securities. International markets are generally more volatile than U.S. markets and have less publicly available information. These risks are heightened for investments in the securities of emerging market issuers.
Investors should consider the contract and the underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional. Please read the prospectus carefully before investing.
Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Your licensed financial professional can provide you with complete details.
Variable annuities are issued by Pruco Life Insurance Company (in New York, by Pruco Life Insurance Company of New Jersey), Newark, NJ and distributed by Prudential Annuities Distributors, Inc., Shelton, CT. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc.
Prudential Financial, Inc. (NYS: PRU) , a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.
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Prudential Financial, Inc.
Darrell Oliver, 973-802-9627
or
Lisa M. Bennett, 973-802-2894
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