Ranking the Fund Managers: Pru leads the pack ... twice over
Prudential has proved to be the most consistent of the large managers over the past decade, top for the second year in a row
This week Morningstar gave out its annual awards for the best unit trusts and unit trust groups. Prudential for the second year in a row won the larger group category. It has proved to be the most consistent of the large managers over the past 10 years. It has quite a privileged position, as it is independently controlled but it also has powerful shareholders in the M&G Group and ultimately Prudential Plc. That is not the same, however, as being owned by a local life office. Prudential CEO Bernard Fick says the relationship has been strengthened with M&G since former Pru CEO Graham Mason and more recently former chief investment officer Marc Beckenstrater took senior positions there. Beckenstrater will help to develop a new range of global funds for Prudential SA. New chief investment officer David Knee came from M&G in London and now runs the fixed income products while overseeing the equity capability and co-managing the balanced funds. Prudential has had strong long-term returns ...
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