Demand rises for Pru North American fund

The Prudential North American portfolio is enjoying large inflows of funds as investors seek an alte...

The Prudential North American portfolio is enjoying large inflows of funds as investors seek an alternative to Fidelity American following the departure of John Muresianu. Phil Wagstaff, managing director, retail at M&G, said significant increases in investment, to the tune of several million pounds, have already flowed into the portfolio following the change at Fidelity. Most of this has come from fund of fund managers, he added. Prudential North American, managed by Richard Brody, is ranked fourth out of 85 funds over one year, offer to bid, returning -22.9% compared to the sector a...