The Prudential Investment unit of Prudential Insurance launched PRUCHOICE, a new mutual fund program offering 200 load and no-load funds, and DISCOVERY SELECT, a variable annuity. The launch follows similar moves by arms of American Express and NationsBank recently.
Pru has waived the loads on the load funds, but charges an annual program fee. PRUCHOICE provides personalized asset allocation and performance reporting services with the assistance of Prudential Securities' financial advisers. The fund companies involved are: Prudential, AIM, Franklin Templeton, Janus, Putnam, Scudder, Strong and Warburg Pincus.