Prudential Annuities, a unit of Prudential Financial, has added six new asset allocation portfolio options to its Highest Daily variable annuity investment lineup. The VA now offers 21 asset allocation portfolios in four strategies (traditional, tactical, quantitative and alternative). Three funds will be phased out.
The six new portfolios, which can be used individually or in combination, include:
- AST BlackRock iShares ETF Portfolio: Invests in iShares exchange traded funds (ETFs) across global equity and fixed-income asset classes.
- AST Defensive Asset Allocation Portfolio: Offers lower equity exposure.
- AST Franklin Templeton Founding Funds Plus Portfolio: Consists of four Franklin Templeton value strategies.
- AST Goldman Sachs Multi-Asset Portfolio: Offers access to “growth markets” regions; replaces the AST Horizon Moderate Asset Allocation Portfolio.
- AST Prudential Growth Allocation Portfolio: Actively managed portfolio that determines allocation and security selection through a quantitative model; replaces the AST First Trust Capital Appreciation Target Portfolio.
- AST RCM World Trends Portfolio: Replaces the AST Moderate Asset Allocation Portfolio.
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