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Prudential offers new tax-managed equity fund

Prudential Investments has introduced the Prudential Tax-Managed Equity Fund which is designed to reduce the effect of capital gains distributions on the return of equity mutual fund investments.

The fund will aim to grow at or ahead of the pace of the S&P 500 Index while limiting the tax burden on shareholders. The fund will be diversified across sectors and will be a large-cap blend fund.

Managing the new fund are Mark Stumpp, James Scott and Ted Lockwood, members of Prudential Investments' quantitative management team, which oversees more than $15 billion in client assets.