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Products March 18, 2008
JennisonDryden Launches New Long/Short Strategy Fund
March 18, 2008 (PLANSPONSOR.com) - JennisonDryden
Mutual Funds, the proprietary mutual fund family of
Prudential Financial Inc., announced that it has recently
launched the Dryden US Equity Active Extension Fund (Ticker:
DUEAX), managed by Quantitative Management Associates
(QMA).
Reported by Rebecca Moore
According to the announcement, QMA employs its core equity strategy to create a portfolio of growth and value stocks. Then, through a flexible active extension strategy, the fund managers use the proceeds of short sales of stocks they deem unattractive to purchase additional long positions in more attractive stocks. QMA’s quantitative model involves analyzing more than 3,000 U.S. stocks each day.
The fund seeks to provide investors with returns that exceed the Russell 1000 Index, which is composed of large capitalization stocks and represents more than 90% of the U.S. market, the announcement said.
More information can be found at www.jennisondryden.com .