Target Portfolio Trust’s Large Capitalization Value Portfolio and the Strategic Partners Large Capitalization Value Fund hired Hotchkis & Wiley as a subadviser, according to SEC filings. The funds are offered by Prudential Investments.
H&W replaces Mercury Advisors, a subsidiary of Merrill Lynch. Principals of H&W purchased Mercury’s domestic equity business in October. No changes to the investment strategy of the fund are planned, and most of the portfolio management staff will remain.
