Prudential has appointed Capita Financial Managers as authorised corporate director (ACD) for seven Prudential open ended investment company (OEIC) funds, holding the assets of 2,000 UK clients.
The appointment, effective from 3 November, will consolidate the funds' current multiple service providers into one but will not change the investment management of the funds or their charges. It follows a strategic review by Prudential of the seven entities Prudential Adventurous Portfolio fund, Balanced Portfolio fund, Cautious Portfolio fund, Cautious Growth Portfolio fund, Cautious Managed Growth fund, Defensive Portfolio fund, and Managed Defensive fund. Capita will service and administer the funds through its sister company Capita Financial Administrators and prefix the fund nam...
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