Prudential 2003 Annual Report Download - page 13

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Taiwan
Three of Prudential’s international
businesses—insurance, asset manage-
ment and private client activities—are
represented in Taiwan. Prudential’s
life insurance operation follows the
life planner approach used in other
countries: highly trained life planners
focused on selling protection prod-
ucts based on customer needs. In
addition, in Taiwan Prudential owns
a successful asset management oper-
ation, Prudential Financial Securities
Investment Trust Enterprise, which
manages 15 investment funds and a
discretionary asset management pro-
gram. Prudential also provides separate
private client services under the
Dryden Wealth Management name.
China
China’s vast market for investment
products is just beginning to open,
and Prudential has received prelim-
inary approval to establish a
joint-venture fund management
firm in the People’s Republic of
China. Everbright Securities, a
member of the China Everbright
Group, will sell mutual funds to
Chinese investors. The new com-
pany, Everbright-Prumerica Fund
Management Co. Ltd., will be
based in Shanghai. Everbright-
Prumerica will focus its early efforts
on better educating Chinese
investors in the benefits of long-
term financial planning.
Mexico
Prudential operates a successful
investment management company
in Mexico that sells and manages a
family of Mexican-domiciled
mutual funds to individual and
institutional clients. Since Prudential
entered the market, assets under
management have grown substan-
tially. The unit manages 10 funds
with assets of $1.1 billion, and now
has 16 branch offices throughout
Mexico. In 2003, the unit success-
fully acquired and integrated
Operadora Finamex, a fund man-
agement company in Mexico.
Including our joint venture with
Afore XXI, a government-spon-
sored pension plan, Prudential now
serves the investment needs of more
than 2 million Mexican investors.
Italy
Prudential and Banca Populare di
Bergamo-Credito Varesino entered
a joint asset-management venture
in 2002. Last year, top quartile
1-year performance for 14 of its
19 funds helped the unit rank
No. 1 in attracting new assets among
asset managers in Italy.
Spirit of
Community
The Prudential Spirit
of Community Awards
honor young people in
middle level and high
school grades for
outstanding volunteer
service to their
communities. Created in
1995 by Prudential
Financial in partnership
with the National
Association of Secondary
School Principals, the
awards constitute the
United States’ largest
youth recognition
program based solely on
volunteering. Over the
past nine years, the
program has honored
more than 55,000 young
volunteers at the local,
state and national level.
Among their many
projects, this year’s
participants created
activity programs for
homeless children, raised
money to help those
with chronic and
terminal diseases, and
refurbished computers
for underprivileged
families. In 2003, ten
national honorees were
announced and lauded for
their exemplary work in
community service.
1,482
1,719
2,010
Life Planner
Policies In-Force
(in thousands)
Prudential Financial 2003 Annual Report 11
2001 2002 2003