PGIM, the asset management arm of Prudential Financial, has removed all external subadvisers from its PSF Global Portfolio, according to an SEC filing March 18.
Specifically, PGIM has removed LSV Asset Management, MFS Investment Management, T. Rowe Price Group and William Blair Investment Management as subadvisers to the portfolio, effective May 1.
PGIM Quantitative Solutions, a subsidiary of PGIM, will continue as the sole subadviser to the portfolio.
PGIM spokesperson said the company could not comment beyond information in the filing.
Spokespeople for MFS, T. Rowe Price and William Blair declined to comment. Officials at LSV could not be immediately reached for comment.
As of Dec. 31, PSF Global Portfolio had $926 million in assets.
For the year ended Dec. 31, the portfolio had a total return of 15.2%, below the 19.1% total return by its benchmark, the MSCI World index.
