The fund will be diversified across sectors and industries, using the S&P 500 Index as its benchmark, Prudential said.

It is sub-advised by Jennison Associates’ income and infrastructure team, which uses a bottom-up, fundamental researched-based security selection process. Founded in 1969, Jennison Associates is a wholly-owned subsidiary of Prudential Financial and manages many of Prudential Financial’s equity funds.

The portfolio managers are Shaun Hong and Bobby Edemeka, who manage Jennison’s utility, equity income, global infrastructure and MLP strategies.

“Over the long term, dividend growing stocks have delivered very competitive historical returns with generally lower volatility than the broader market,” said Hong.

Prudential Investments is the mutual fund business of Prudential Financial, offering a range of open- and closed-end funds.