Prudential Short Duration High Yield Fund, Inc., and Prudential Global Short
Duration High Yield Fund, Inc., appoint new directors
NEWARK, N.J. -- September 4, 2013
Prudential Short Duration High Yield Fund, Inc. (NYSE:ISD) and Prudential
Global Short Duration High Yield Fund, Inc. (NYSE:GHY) announce the
appointment of Ellen S. Alberding, Keith F. Hartstein, and James Quinn to
their board of directors.
“We look forward to the insight and expertise Ms. Alberding and Messrs.
Hartstein and Quinn will offer as we grow our business, strengthen our fund
family, and deliver quality solutions that help address the needs of our
shareholders," said Stuart Parker, president of Prudential Investments.
Alberding is president and a member of the board of directors of the Joyce
Foundation, a charity that develops and manages grant-making strategy on
complex policy issues aimed at improving air and water quality; reducing the
achievement gap for low income and minority students in urban schools; and
increasing access to high-quality jobs in the Midwest. Previously, she managed
the foundation’s investment portfolio.
Hartstein was president and chief executive officer of John Hancock Funds, the
mutual funds business unit of John Hancock Financial Services, from 2005 to
2012, after holding various executive management positions at the company. He
is also a former chairman of the Investment Company Institute’s sales force
marketing committee, having served in that role from 2003 to 2008.
Quinn was formerly president, director and vice chairman of Tiffany & Co., a
leading jewelry retailer. He also serves on the board of directors of Mutual
of America Capital Management Corporation, an asset management firm, and a
director of Deckers Outdoor Corporation, a footwear manufacturer. Previously,
he held various executive management positions at Tiffany & Co. and was a
member of the board of directors of the Bank of New York Hamilton Funds from
1996 to 2008.
“We are extremely pleased to welcome Ms. Alberding, and Messrs. Hartstein and
Quinn to the board of directors. Each new member brings a unique perspective
and experience that will be valuable to shareholders and in the governance of
Prudential's funds,” said board Chairman Richard Redeker.
Alberding, Hartstein and Quinn join the board as independent directors. The
funds’ board is now comprised of 11 directors, 10 of whom are considered
independent under applicable securities laws.
The Funds are diversified, closed-end investment management companies managed
by Prudential Investments LLC. The Funds are sub-advised by Prudential Fixed
Income, a business unit of Prudential Investment Management Inc., and an
affiliate of the investment manager.
Prudential Investments offers mutual funds across a range of asset classes and
sectors, including equity, fixed income, real estate, and specialty
securities. Please visit http://www.prudentialfunds.com for more information.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more
than $1 trillion of assets under management as of June 30, 2013, has
operations in the United States, Asia, Europe, and Latin America. Prudential’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 and investment management. In the U.S., Prudential’s
iconic Rock symbol has stood for strength, stability, expertise and innovation
for more than a century. For more information, please visit
These Funds invest in high yield (“junk”) bonds, which are subject to greater
credit and market risks; derivative securities, which may carry market,
credit, and liquidity risks; foreign securities, which are subject to currency
fluctuation and political uncertainty; and emerging markets securities, which
are subject to greater volatility and price declines. Fixed income investments
are subject to interest rate risk, where their value will decline as interest
rates rise. There are fees and expenses involved with investing in these
An investment in a closed-end fund’s common stock may be speculative in that
it involves a high degree of risk, should not constitute a complete investment
program, and may result in loss of principal. Each closed-end fund will have
its own unique investment strategy, risks, charges and expenses that need to
be considered before investing.
Prudential Fixed Income is a unit of Prudential Investment Management Inc.,
which is a registered investment advisor and Prudential Financial company.
Prudential Investments, Prudential, the Prudential logo, and the Rock symbol
are service marks of Prudential Financial, Inc. and its related entities,
registered in many jurisdictions worldwide.
Prudential Financial, Inc.
Theresa Miller, 973-802-7455
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