Prudential said that the Prudential Floating Rate Income Fund will invest primarily in floating rate loans and other floating rate debt securities.
The Prudential Absolute Return Bond Fund seeks to generate positive returns over time regardless of market conditions by investing across a range of sectors and securities.
The flexible strategy of the Absolute Return Bond Fund will use various investment techniques, which may include managing duration and credit quality, yield curve positioning, and currency exposure.
Prudential Emerging Markets Debt Local Currency Fund will invests primarily in currencies and fixed income securities denominated in the local currencies of emerging market countries.
According to the Prudential, the portfolio managers for all the three funds are part of its fixed income portfolio.
Prudential Investments president Judy Rice said two of the new funds help protect against changing market conditions and may reduce interest rate risk, while the third fund focuses on helping investors take advantage of growing opportunities in developing markets.
