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Annulized returns for periods ended 9/30/08: |
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PRIVEST – A $3.3 billion commingled private placement account established in 1976 that is available to qualified plan sponsors. PRIVEST invests exclusively in investment grade debt and benefits from full access to Prudential Capital Group's deal flow and investment staff. PRIVEST has consistently been among the top performing funds in PIPER's Broad Market Commingled Fixed Income universe. In the PRIVEST commingled fund, there is no minimum investment.
* PRIVEST Notes to Performance:
The performance results displayed herein represent the investment performance record for the Core Fixed Income (Private Placements) Composite ("PRIVEST") managed by Prudential Private Placement Investors, L.P. ("PPPI" or the "Firm"), a registered investment adviser and a Prudential Financial company. PPPI manages privately-placed fixed income investments for institutional investors. PRIVEST represents $3,306.17 million or 47.2% of Firm assets under management, as of September 30, 2008. PRIVEST includes all discretionary, fee paying portfolios, whose strategy is to provide superior long-term performance versus the intermediate-term fixed income universe as represented by the Lehman Brothers Aggregate Index by investing in investment quality private placement debt. PRIVEST includes no non-fee paying portfolios. From time-to-time, derivative instruments may be used for hedging purposes.
Performance has been calculated in US dollars and is shown net of fees, which vary by account based on size and other factors. The highest single client advisory fee in effect for each period is used to calculate net of fee model performance. Past performance does not guarantee future results.
PPPI claims compliance with the AIMR Performance Presentation Standards (AIMR-PPS®), the U.S. and Canadian version of GIPS®. The CFA Institute (formerly AIMR) has not been involved with or reviewed PPPI's claim of compliance.
To receive a complete list and description of PPPI's composites and/or a presentation that adheres to the AIMR-PPS standards, contact Albert Trank, Managing Director, 100 Mulberry Street, Gateway Center Three, 18th Floor, Newark NJ 07102.
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