JennisonDryden Launches New Long/Short Strategy Fund

JennisonDryden Mutual Funds has recently launched the Dryden US Equity Active Extension Fund (Ticker: DUEAX), managed by Quantitative Management Associates (QMA).

According to JennisonDryden, the proprietary mutual fund family of Prudential Financial Inc., QMA employs its core equity strategy to create a portfolio of growth and value stocks. Then, through a flexible active extension strategy, the fund managers use the proceeds of short sales of stocks they deem unattractive to purchase additional long positions in more attractive stocks. QMA’s quantitative model involves analyzing more than 3,000 U.S. stocks each day.

The fund seeks to provide investors with returns that exceed the Russell 1000 Index, which is composed of large capitalization stocks and represents more than 90% of the U.S. market.

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