PGIM Investments Launches Total Return Bond ETF and ESG High Yield Mutual Fund

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NEWARK, New Jersey – (COMMERCIAL THREAD) – PGIM Investments has launched two new bond funds, the PGIM Total Return Bond ETF and the PGIM ESG High Yield Fund. principles of social investment and governance (ESG). PGIM is the $ 1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

The PGIM Total Return Bond ETF aims to outperform the Bloomberg US Aggregate Index through opportunistic investments in non-benchmark sectors and derivatives, while the PGIM ESG High Yield Fund seeks to outperform the Bloomberg US Index High Yield 1% Issuer Capped over the long term while investing in bond issuers with stronger ESG characteristics and practices.

Both funds are managed by PGIM Fixed Income,1 one of the largest and most experienced global fixed income managers in the world, with more than $ 960 billion in assets under management.2.3 PGIM Fixed Income’s active investing approach is enhanced by credit seeking, quantitative research and risk management to help generate competitive returns and manage volatility.

“PGIM Investments is committed to a vehicle independent approach, offering our strategies in different forms across multiple platforms to meet investors where they are and enable them to invest however they want,” said Stuart Parker, President and CEO of PGIM Investments. “These new funds respond to the demand we’re seeing for expanded access to proven active management strategies and investment options that put ESG considerations at the forefront.

A NEW WAY TO INVEST IN A PROVEN STRATEGY VIA AN ETF

The new PGIM Total Return Bond ETF (NYSE Arca: PTRB) is an actively managed bond ETF that seeks total return by investing in a diversified portfolio of bonds across multiple bond sectors. It mirrors the strategy used by PGIM Fixed Income’s Total Return Bond mutual fund, a core plus strategy that in 25 years has grown into one of the largest fixed income mutual funds, with net assets. total of more than 56 billion dollars.2

The ETF is managed by the same portfolio managers as the mutual fund – Robert Tipp, Michael Collins, Richard Piccirillo, Gregory Peters and Lindsay Rosner – a team averaging 22 years of experience and 19 years with the company .

OFFERING THE CHOICE BETWEEN TRADITIONAL AND ESG APPROACHES

The PGIM ESG High Yield fund seeks total return, through a combination of current income and capital appreciation, by investing in a diversified portfolio of high yield fixed income securities, with a focus on issuers with stronger ESG characteristics and practices than traditional high yield bond portfolios.

The portfolio is managed by Robert Cignarella, Robert Spano, Ryan Kelly, Brian Clapp, Daniel Thorogood and Brian Barnhurst, the same managers who oversee the PGIM High Yield fund, with $ 24.5 billion in assets under management.2

PGIM Fixed Income’s ESG methodology, which distinguishes the new PGIM ESG High Yield fund, begins with exclusion screening, then uses a proprietary rating methodology to assign ESG impact ratings and build the fund’s portfolio. These ESG ratings are assigned by a team of over 110 analysts and overseen by the PGIM Fixed Income ESG committee. Under normal circumstances, the fund will not purchase securities from issuers with ESG impact ratings below a set threshold.

The PGIM ESG High Yield fund is the second ESG mutual fund launched in the United States by PGIM this year, after the PGIM ESG Total Return Bond fund, demonstrating the company’s actions to broaden product choice and help investors to achieve their sustainable development goals.

ABOUT PGIM INVESTISSEMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a wide range of asset classes and investment styles. All products are backed by PGIM’s globally diverse investment platform which encompasses the expertise of managers in fixed income, equities, alternatives and real estate.

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $ 964 billion in assets under management as of September 30, 2021, is a global asset manager providing active solutions across all fixed income markets. The company has offices in Newark, NJ, London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong and Singapore. For more information visit pgimfixed Income.com.

ABOUT PGIM LIMITED

PGIM Limited is an indirect wholly owned subsidiary of PGIM. PGIM Limited is located at Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Limited provides investment advisory services relating to securities in certain foreign markets. As of September 30, 2021, PGIM Limited managed approximately $ 58.08 billion in assets. PGIM Limited is authorized and regulated by the Financial Conduct Authority of the United Kingdom.

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the world’s top 10 asset managers2 with approximately $ 1.5 trillion in assets under management as of September 30, 2021. With offices in 17 countries, PGIM’s business provides a range of investment solutions for retail and institutional investors around the world across a broad spectrum asset classes, including public fixed income, private fixed income, fundamental stocks, quantitative stocks, real estate and alternatives. For more information on PGIM, visit pgim.com.

Prudential Financial, Inc. of the United States is not affiliated in any way with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.

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PGIM Limited also serves as a sub-advisor for each fund.

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As of September 30, 2021.

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Prudential Financial, Inc. is the 10th largest investment manager (out of 477) in terms of global assets under management based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets under management by PFI as of December 31. December 31, 2020.

Carefully consider the investment objectives, risks, costs and expenses of a fund before investing. The prospectus and the simplified prospectus contain this information as well as other information about the fund. Contact your financial professional to obtain a prospectus and summary prospectus. Read them carefully before investing.

Investing in mutual funds involves risk. Some mutual funds carry more risk than others. Return on investment and capital value fluctuate and shares when sold may be worth more or less than the original cost and money may be lost. Diversification and asset allocation do not guarantee a profit or protect against losses in declining markets. There is no guarantee that the objectives of a fund will be achieved. The risks associated with each fund are explained in more detail in the respective prospectus of each fund.

The funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Fixed Income is a subsidiary of PGIM. © 2021 Prudential Financial, Inc. and its related entities. The PGIM logo is a service mark of Prudential Financial, Inc. and its related entities, registered in many jurisdictions around the world.

Investment products are not insured by the FDIC or any federal government agency, may lose value, and do not constitute a deposit or guarantee by any bank or subsidiary bank.

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