Prudential Investment & Securities Co. introduces new product “Prudential Power Utilities Equity Fund”
“Prudential Power Utilities Equity Fund,” managed by Prudential Asset Management Co. (PAMC) and sub-advised to ABN AMRO Asset Management, seeks capital gains in the mid- to long-term by investing in utilities listed on the global equity markets. The fund offers the following attributes.
First, “Prudential Power Utilities Equity Fund” invests in long-term growth potential of the utilities sector, which includes electric, gas, and water utilities, and is the first of its kind to be introduced in Korea based on Korea Fund Ratings. With global electricity consumption expected to double the growth of the past 20 years from now to 2030 (Note 1), higher electricity prices should lead to higher profits of electricity generators. Increasing global interests in environment pollution has also raised “cleaner” environment issues, generating new investment opportunities for utilities. Attractive cash-flows of the sector should keep M&A as a continuing theme that should support the utilities stock prices.
Second, the product has been designed to enjoy defensive and stable characteristics of the utilities sector. The sector has low correlations with other sectors, offering effective diversification opportunities to global investors. Relatively high dividend yields and low risks also provide investment opportunities as a defensive sector.
Third, “Prudential Power Utilities Equity Fund” is sub-advised to ABN AMRO Asset Management with strong regional networks and investment know-how. AMB AMRO Asset Management is a professional asset manager with broad investment capabilities and local offices located in 27 countries. The asset management firm has approximately 263 trillion won in assets under management as of the end of June, 2007.
Prudential Power Utilities Equity seeder fund invests approximately 92 percent of the assets in Power Utilities Equity Master Fund, and invests about 8 percent in Korean bonds and liquidity. RSP (Regular savings plan) investment is possible with no minimum investment amount and currency risk hedged within the fund. Investors can buy the fund at lower fee as the product is also offered online on PISC’s website (www.pru.co.kr).
“Prudential Power Utilities Equity Fund” has been developed to offer Korean investors the opportunity to diversify their portfolios globally by investing in a global sector, in addition to various regional and country funds, and to enjoy tax benefits of onshore non-Korean asset class funds. Stock prices of utilities tend to move in tandem with oil prices and higher oil and gas prices lead to higher electricity prices, generating long-term growth potential. Utilities sector also offers relatively high dividend yield of 3-4 percent and has low correlation with the Korean equity market. Thus, Prudential Power Utilities Equity Fund is a global product suitable for the clients who seek relatively stable return and global diversification,” said Lee Chang-hoon, CEO of PAMC.
Note 1) Source: EIA, International Energy Outlook, 2007
※ Company Descriptions
Prudential Investment & Securities Co., Ltd. (PISC) currently has a nationwide network of over 70 branches and provides various financial services and investment advice to help customers achieve their financial goals. Prudential Asset Management Co., Ltd., an affiliate of PISC, is one of the biggest asset managers in Korea with approximately 11.1 trillion won of assets under management (including Discretionary Investment Management) as of June 30, 2007.
(For more information, please visit www.pru.co.kr, Call center: 1588-4588)
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $648 billion of assets under management as of June 30, 2007, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.(For more information, please visit www.prudential.com)
※ Note: The commentary presented is for informational purpose only, and does not constitute or form part of an offer for shares of fund or an invitation to apply for shares. Since the investor bears the profits and losses tied to fund's management performance, the investor should request a free prospectus and read it carefully. The Fund may not be suitable for all investors.
웹사이트: http://www.prucyber.com
연락처
Jae-Hwan Lee 822-3770-7373
Kyun-Jang Lee 822-3770-7577
이 보도자료는 Prudential Investment & Securities Co. Ltd.가(이) 작성해 뉴스와이어 서비스를 통해 배포한 뉴스입니다.
-
2008년 7월 21일 10:52
-
2008년 5월 20일 10:00