Bloomberg – Prudential Financial Inc. the second-largest U.S. life insurer, is introducing a product to allow retail investors to bet with strategies favored by hedge-fund managers.
The Global Tactical Allocation Fund can invest in commodities and currencies in addition to stocks and bonds, and may wager on gains or declines in securities, Prudential said in a statement Tuesday. The strategy targets lower volatility than the Standard & Poor’s 500 Index. The fund will be overseen by Prudential’s Quantitative Management Associates, or QMA, which has about $118 billion in assets under management.
