Tuesday, Prudential Financial Inc. (PRU) announced that the retail mutual fund board of directors/trustees for the eligible JennisonDryden and Target mutual funds, and the Prudential Institutional Liquidity Portfolio, approved their participation in the U.S. Treasury Department's Temporary Guaranty Program for U.S. Money Market Mutual Funds.
The program protects shareholders of eligible money market funds from a decline in value up to the amounts held in their accounts as of the close of business on September 19, 2008, and was developed in response to recent market volatility and temporary dislocations in credit markets. The temporary guaranty is triggered and liquidated if a participating fund's net asset value falls below $0.995.
The participating funds include, among others, MoneyMart Assets, Dryden Money Market Fund and Prudential Institutional Liquidity Portfolio/Institutional Money Market Series, most of which are managed by Prudential Fixed Income Management.
The Secretary of the Treasury, upon completion, will review the three-month program for further extension. Even though the program protects the accounts of individual investors, it does not allow them to sign individually and the decision to join the program is at the sole discretion of each money market fund.
Prudential Financial closed Tuesday's regular trading at $46.51, down $5.69 or 10.90%, on a volume of 5.88 million shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.