Actively managed core strategy that seeks an excess return over the Barclays Capital U.S. Aggregate Bond Index or similar benchmark. Strategy is investment grade-focused and has historically generated its excess return from fairly equal increments of both sector allocation and subsector/security allocation. Duration and yield curve positioning have not historically been primary sources of excess return.
- Modestly active sector rotation
- Focus on bottom-up security selection along with broad sector and issue diversification
- Yield curve and duration management de-emphasized
- Seeks consistent, sustainable sources of excess return
- Highly diversified portfolios
- Comprehensive approach to risk management
- Dedicated teams of credit and quantitative analysts specialize by sector
As of September 30, 2013. There can be no assurance that these objectives will be met. Read benchmark descriptions.
- $20 billion in strategy AUM
- 6-member investment management team
- Senior Portfolio Manager has 31 years of investment experience
- Core team averages 24 years of investment experience and 24 years with Prudential
- Supported by firmwide resources of credit analysts, quantitative research and risk management analysts, and sector teams