Pramerica Asset Managers appoints Mahendra Jajoo as Head of Fixed Income

Pramerica Asset Managers Private Limited, the Indian asset management venture of U.S.-based Prudential Financial, Inc. (PFI), today announced that Mahendra Jajoo has been appointed as Head of Fixed Income.

As the Head of Fixed Income, Mahendra will report to Vijai Mantri, Managing Director and Chief Executive Officer of Pramerica Asset Managers Pvt. Ltd. In this role, Mahendra will be responsible for the investment management of all fixed income products.

Mahendra Jajoo has more than 19 years of experience in the Indian capital markets. Prior to this position, Mahendra worked with Tata AMC, ABN AMRO Group and ICICI.  Mahendra is a silver medalist Chartered Accountant, C.F.A. from CFA Institute USA and a Company Secretary.

“Mahendra has extensive experience of investing in debt markets through various cycles and his performance has been impressive. We are glad that he has joined us to lead our fixed income investments.” said Vijai. “His experience will enable us to build a robust and high performance debt portfolio” added Vijai.

Pramerica Asset Managers Private Ltd. is based in Mumbai and plans to provide a full range of mutual fund and investment products, including domestic and eventually international mutual funds to the Indian investor.

About PFI:
Pramerica Financial is a trade name used in India and select countries outside of the United States by Prudential Financial, Inc., a company incorporated and with its principal place of business in the United States, and its affiliates in select countries outside the United States. PFI (NYSE: PRU), a financial services leader with approximately $693 billion of assets under management as of March 31, 2010, has operations in the United States, Asia, Europe, and Latin America. PFI’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., the company’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century.  For more information, please visit www.news.prudential.com. PFI of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.

Statutory Details: Pramerica Mutual Fund is set up as a Trust under the Indian Trusts Act, 1882. Sponsor: Prudential Financial, Inc. [liability restricted to initial contribution of Rs. 1 Lac]. Trustee: Pramerica Trustees Private Limited, a Company registered under the Companies Act, 1956. Investment Manager: Pramerica Asset Managers Private Limited, a Company registered under the Companies Act, 1956. Currently, Pramerica Mutual Fund does not have any scheme in India. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.