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PORTFOLIO ACCOUNT - CAPITAL REDEMPTION OPTION
A Discretionary Asset Manager (DAM), such as a stock broker or private bank, has detailed investment expertise and access to wide range of investment funds.
If a DAM is appointed, they may take over the management of all or part of the investment. The DAM will have their own terms and conditions and charging structure, and should be contacted direct for further information.
At any time the bondholder may request, without cashing in the bond:
- the appointment of a DAm to manage all or part of the bond assets,
- to add additional DAMs to manage bond assets simultaneously,
- to replace one DAM with another,
- to remove a DAM from the management of the bond,
- that the bond is no longer under DAM management,
- to have all or part of the bond under a DAM(s)
If the Investment Management Agreement between Prudential International and the Discretionary Asset Manager should be terminated for any reason a new Discretionary Asset Manager may be selected, with which Prudential International has an existing agreement.
From 05/07/2010 the amended rules regarding muliple DAMs were extended. Please refer to Description for more information on
this.
