Prudential Short Duration High Yield Fund, Inc. (NYSE:ISD)
and Prudential Global Short Duration High Yield Fund, Inc. (NYSE:GHY)
announce the appointment of Ellen S. Alberding, Keith F. Hartstein,
and James Quinn to their board of directors.
“We look forward to the insight and expertise Ms. Alberding and Messrs.
Hartstein and Quinn will offer as we grow our business, strengthen our
fund family, and deliver quality solutions that help address the needs
of our shareholders," said Stuart Parker, president of Prudential
Investments.
Alberding is president and a member of the board of directors of the
Joyce Foundation, a charity that develops and manages grant-making
strategy on complex policy issues aimed at improving air and water
quality; reducing the achievement gap for low income and minority
students in urban schools; and increasing access to high-quality jobs in
the Midwest. Previously, she managed the foundation’s investment
portfolio.
Hartstein was president and chief executive officer of John Hancock
Funds, the mutual funds business unit of John Hancock Financial
Services, from 2005 to 2012, after holding various executive management
positions at the company. He is also a former chairman of the Investment
Company Institute’s sales force marketing committee, having served in
that role from 2003 to 2008.
Quinn was formerly president, director and vice chairman of Tiffany &
Co., a leading jewelry retailer. He also serves on the board of
directors of Mutual of America Capital Management Corporation, an asset
management firm, and a director of Deckers Outdoor Corporation, a
footwear manufacturer. Previously, he held various executive management
positions at Tiffany & Co. and was a member of the board of directors of
the Bank of New York Hamilton Funds from 1996 to 2008.
“We are extremely pleased to welcome Ms. Alberding, and Messrs.
Hartstein and Quinn to the board of directors. Each new member brings a
unique perspective and experience that will be valuable to shareholders
and in the governance of Prudential's funds,” said board Chairman
Richard Redeker.
Alberding, Hartstein and Quinn join the board as independent directors.
The funds’ board is now comprised of 11 directors, 10 of whom are
considered independent under applicable securities laws.
The Funds are diversified, closed-end investment management companies
managed by Prudential Investments LLC. The Funds are sub-advised by
Prudential Fixed Income, a business unit of Prudential Investment
Management Inc., and an affiliate of the investment manager.
Prudential Investments offers mutual funds across a range of asset
classes and sectors, including equity, fixed income, real estate, and
specialty securities. Please visit http://www.prudentialfunds.com
for more information.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1 trillion of assets under management as of June 30, 2013,
has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential’s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit www.news.prudential.com.
These Funds invest in high yield (“junk”) bonds, which are
subject to greater credit and market risks; derivative securities,
which may carry market, credit, and liquidity risks; foreign
securities, which are subject to currency fluctuation and political
uncertainty; and emerging markets securities, which are subject to
greater volatility and price declines. Fixed income investments
are subject to interest rate risk, where their value will decline as
interest rates rise. There are fees and expenses involved with investing
in these Funds.
An investment in a closed-end fund’s common stock may be speculative
in that it involves a high degree of risk, should not constitute a
complete investment program, and may result in loss of principal. Each
closed-end fund will have its own unique investment strategy, risks,
charges and expenses that need to be considered before investing.
Prudential Fixed Income is a unit of Prudential Investment Management
Inc., which is a registered investment advisor and Prudential Financial
company. Prudential Investments, Prudential, the Prudential logo, and
the Rock symbol are service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide.
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