Prudential Financial hired Lee Munder Capital Group and JPMorgan Asset Management as subadvisers to its $125 million Strategic Partners Small-Cap Value Fund, according to a Prudential news release. They join existing managers NFJ Investment Group and EARNEST Partners. Strategic Partners is Prudential's subadvised mutual fund business; it is made up of unaffiliated investment managers.
The company added the two managers so the fund can increase its capacity to take on additional assets without "affecting the integrity of the fund," Brian Ahrens, director of investment manager research for Prudential's Strategic Investment Research Group, said in the release. Mr. Ahrens was not immediately available for comment.