Funds provide new options to invest in real estate securities
Mar. 22, 2011 (Business Wire) -- Prudential Investments has added two new mutual funds to its real estate offerings. 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, and complement the existing Prudential Global Real Estate Fund. Prudential Investments is the mutual fund family of Prudential Financial, Inc. (NYSE: PRU).
"Our real estate funds provide the potential for investors to hedge against inflation," said Judy Rice, president of Prudential Investments. "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 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.
The funds are managed by the real estate securities team at Prudential Real Estate Investors, otherwise known as PREI®,comprising:
- Marc Halle, a managing director at PREI, who oversees the global securities team in the U.S., Europe and Asia. He was recently recognized as one of the best mutual fund managers by SmartMoney Magazine and The Wall Street Journal.
- Rick Romano, a principal who joined PREI in 1998 and is responsible for U.S. real estate securities.
- Gek Lang Lee, a Singapore-based principal at PREI, with more than 20 years of experience managing real estate securities.
"Public real estate securities have gained acceptance around the world as an efficient means to provide investors access to large, high quality portfolios of real estate," said Halle. "At the same time, real estate securities can provide current income, liquidity and historically compelling risk-adjusted returns."
PREI, a business of Prudential, is a leader in the global real estate investment management and advisory industry, with 18 offices in 13 countries and deep expertise in private and public real estate markets.
Prudential Investments offers mutual funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities. Please visit http://www.prudentialfunds.com for more information.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $784 billion of assets under management as of December 31, 2010, has operations in the United States, Asia, Europe, and Latin America.