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Pru Fund Wins With Multimanagers; Owns Massey Energy; Several value-oriented subadvisers diversify portfolio ideas, cut risks.(MUTUAL FUNDS)(MUTUAL FUND PROFILE)
Byline: PAUL KATZEFF
Want to double the number of best ideas held by a mutual fund? Just double the number of managers.
That's what Prudential Investments has done with its $89 million Strategic Partners Small Cap Value Fund.
Pru divvies the assets between two subadvisers. NFJ Investment Group, in Dallas, runs one half. Earnest Partners, based in Atlanta, runs the other.
"This approach provides risk control plus flexibility," said Brian Ahrens, vice president of Prudential's strategic investment research group, which oversees the fund.
Prudential will take that approach a step further this summer. Two additional subadvisers will be brought on board.
Lee Munder will run 30% of the fund, as will NFJ and Earnest Partners. JPMorgan will manage the final 10%. "That will cut the potential for volatility even more," Ahrens said.
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