Prudential Investments hired Sawgrass Asset Management to run $70...

Prudential Investments hired Sawgrass Asset Management to run $70 million for the Prudential Target Fund, a small-cap growth mutual fund, said Eric Mosholt, director of mutual fund advisory programs. Nicholas-Applegate Capital Management previously managed the Target fund but was terminated because it was no longer suitable for the fund, said Tim Biggs, a Prudential spokesman. The money manager still handles more than $400 million in mutual fund and separate account assets for Prudential, he said. A Nicholas-Applegate spokesman was unavailable for comment.