The AST New Discovery Asset Allocation Portfolio and the AST Schroders Global Tactical portfolio bring Prudential’s asset-allocation portfolios to 19. The portfolios span four strategies and can be used as standalone options or combined.
The AST New Discovery Asset Allocation Portfolio is part of Prudential Annuities’ traditional strategy and will focus on seeking total return based on both capital appreciation and income. It is a multi-asset class portfolio that provides exposure to a diversified mix of domestic and international equity securities, as well as fixed-income securities. It is managed by seven different boutique managers, and will also leverage the Prudential Investments research team, which will manage the overall asset allocation among the seven managers.
The AST Schroders Global Tactical Portfolio is positioned in the tactical strategy, and combines aspects of a balanced fund with a tactical asset-allocation strategy. This portfolio leverages Schroders’ global perspective and broad investment universe. It has exposure to international equities, expanding portfolio breadth and giving it the potential to benefit from economic trends outside the U.S.
Prudential Annuities also announced Monday the addition of sub-advisers to two existing individual investment options.
The AST Small Cap Growth Portfolio, which had been managed by Eagle Asset Management, will now be co-managed with Emerald Advisers Inc., which brings specialized focus on small-cap growth research and investing.
The AST International Growth Portfolio added Jennison Associates LLC to its managers, William Blair and Marsico Capital Management.