Prudential said that the Prudential US Real Estate Fund focuses on opportunities in the US, while the Prudential International Real Estate Fund seeks to provide investors with exposure to real estate outside of North America in developed and emerging markets.
The new mutual funds will be managed by the real estate securities team at Prudential Real Estate Investors (PREI).
The team includes: Marc Halle, a managing director at PREI, who oversees the global securities team in the US, Europe and Asia; Rick Romano, a principal who joined PREI in 1998, will be responsible for US real estate securities; Gek Lang Lee, a Singapore-based principal at PREI, with over 20 years of experience managing real estate securities.
Prudential Investments president Judy Rice said the real estate funds provide the potential for investors to hedge against inflation. These funds offer the potential to lower overall risk, while providing an opportunity for solid performance.
Halle said that public real estate securities have gained acceptance around the world as an efficient means to provide investors access to large, high quality portfolios of real estate. At the same time, real estate securities can provide current income, liquidity and historically compelling risk-adjusted returns.
