Prudential Short Duration High Yield Fund, Inc. (NYSE:ISD) and
Prudential Global Short Duration High Yield Fund, Inc. (NYSE:GHY)
today announced an update to their portfolio management team.
Effective March 5, 2014, Robert Cignarella, co-head of Prudential Fixed
Income’s global leveraged finance team, will join the high yield team as
a portfolio manager. Cignarella’s more than 20 years of experience in
leveraged finance will be an invaluable addition to the team’s
investment management efforts.
The Funds’ investment strategies will remain the same, and will continue
to benefit from Prudential Fixed Income’s extensive portfolio management
and research capabilities. Rob joined Paul Appleby as co-head of global
leveraged finance, which includes the U.S. and European high yield bond
and bank loan sector teams, in January 2014. The global leveraged
finance team is comprised of 13 portfolio managers, eight of which are
high yield and eight credit analysts.
The Funds are diversified, closed-end investment management companies
managed by Prudential Investments LLC. Prudential Investments LLC, and
its affiliates do not engage in selling shares of the Funds. The Funds
are sub-advised by Prudential Fixed Income, a business unit of
Prudential Investment Management Inc. and an affiliate of the investment
manager.
The 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 the Funds.
Diversification does not assure a profit or protect against a loss in
declining markets. There is no guarantee that dividends or distributions
will be paid.
Prudential Investments is the mutual fund business of Prudential
Financial, Inc., offering a range of open- and closed-end funds. Please
visit http://www.prudentialfunds.com
for more information.
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.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with
more than $1.1 trillion of assets under management as of December 31,
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.
Control Number: 0258380-00001-00
Copyright Business Wire 2014