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Tokyo Investor Day

STRONG ASSET/LIABILITY MANAGEMENT DISCIPLINE Disciplined ALM approach mitigates risks, including the impact of changes. in interest rates • • • Globally Consistent Approach Domestic and International investment organizations share common ALM approach, framework and tools - Liability driven foundation for portfolio construction Deep understanding of liabilities Asset/Liability Management teams are strongly aligned with businesses Well matched in investible space . • • . Japan ALM Positioning Long-duration assets are held to support insurance liabilities Key rate duration positions targeted to tolerance band Interest rate risk position managed by currency Strong ALM focus with tight asset and liability management in most liquid investable space (~30 years) Prudential Tokyo Investor Day 9.15.2016 3
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