Prudential Investments, the mutual fund division of Prudential Financial (NYSE:PRU) recently launched the Prudential Jennison International Opportunities Fund, which offers long-term capital growth through international investments outside the U.S.  The fund will attract investors looking to diversify their portfolios by investments in companies outside the country.
Flexibility is Key to Success
The fund will primarily look to invest in emerging markets, in Asia and South America, as healthy market conditions in these regions will lead to higher yields. As the investment strategy for the fund is very flexible, without constraints on region or sector for investment, we anticipate it to achieve its objectives despite volatile markets conditions prevalent in the world. Assets management accounts for 16% of our estimate for Prudential’s stock and we expect a rise in the total assets managed by the company over the next few years.
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We will keep a close eye on Prudential as it expands across emerging markets. The company recently pulled out of contention for ING’s Asian operations along with competitors MetLife (NYSE:MET). Manulife (NYSE:MFC) are now the main suitors for the insurance giants.
Our price estimate for Prudential’s stock is $55, 15% above the current market price.Notes:
- Prudential Investments launches Prudential Jennison International Opportunities Fund, Press Release, June 5th, 2012 [↩]