Three Prudential Investments mutual funds won awards based on 10-year risk-adjusted performance at Lipper’s recent annual mutual fund awards ceremony in New York City. The awards honor mutual funds that have delivered consistently competitive risk-adjusted performance relative to peers. Prudential Investments is the mutual fund family of Prudential Financial Inc. (NYSE: PRU) and offers funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities.
All three award-winning mutual funds are managed by Jennison Associates, which builds portfolios from the bottom up, based on its research of individual company fundamentals. Jennison’s investment capabilities span market capitalizations, styles, and geographies. Jennison managed assets of $156.5 billion as of December 31, 2012.
“This is a terrific honor and we are extremely proud to have our mutual funds recognized once again by Lipper," said Stuart Parker, president of Prudential Investments. "The awards bring well-deserved recognition to our Jennison Associates investment managers who work tirelessly to help clients meet their investment objectives in spite of volatile market conditions, which has been vital to the success of our mutual fund business.''
Prudential Investments’ Lipper Award winners for 10-year risk-adjusted investment performance through the period ending November 30, 2012, were as follows:
- Prudential Jennison Natural Resources Fund, Inc. (Class Z, PNRZX), which won out of 31 funds in the Global Natural Resources category. This is the sixth consecutive year that this fund has won a Lipper Award.
- Prudential Jennison Mid-Cap Growth Funds Fund, Inc. (Class Z, PEGZX), whi ch won out of 251 funds in the Mid-Cap Growth category. The Fund, which won a Lipper Award in 2007, is one of the largest in its class, with more than $8 billion in assets as of February 28, 2013. The fund will implement a soft close on or about April 8, 2013, to preserve the integrity of the investment process and serve the best interests of existing shareholders.
- Prudential Jennison Health Sciences Fund* (Class Z, PHSZX), which won out of 48 funds in the Health/Biotechnology category. The Fund has won Lipper Awards five of the last seven years.