NEWARK, N.J.--(BUSINESS WIRE)--PGIM,1 the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has launched four actively managed exchange-traded funds (ETFs) — the PGIM Jennison International Opportunities ETF (NYSE Arca: PJIO), PGIM Jennison Better Future ETF (Cboe BZX: PJBF), PGIM Jennison Focused Mid-Cap ETF (Cboe BZX: PJFM), and the PGIM Short Duration High Yield ETF (Cboe BZX: PSH).
With these launches, PGIM now offers a range of 14 actively managed ETFs across equity and fixed income asset classes.
“Building out our suite of actively managed ETFs is a priority for PGIM, and we have aggressive plans for future product development. We’re thrilled to launch four new ETFs subadvised by our affiliate managers to meet the accelerating demand for active ETFs from our clients,” said Stuart Parker, president and CEO of PGIM Investments.
New equity ETFs from Jennison
The three new equity ETFs, subadvised by Jennison Associates, seek long-term growth of capital with concentrated, high-conviction portfolios. Jennison’s long-term equity investment approach is rooted in deep, fundamental research and bottom-up security selection.
The PGIM Jennison International Opportunities ETF (PJIO) invests in non-U.S. companies, with a focus on businesses in the early stages of accelerating growth and attributes such as competitive advantages and attractive valuations. PJIO’s investment strategy is substantially similar to the $4.1 billion PGIM Jennison International Opportunities Fund, which has a history of long-term outperformance.2
The PGIM Jennison Better Future ETF (PJBF) invests in companies that are anticipated to help address social and environmental challenges as identified by the United Nations Sustainable Development Goals. This may include, but is not limited to, companies that contribute to health and wellness, technological advances to improve productivity, connectivity, and financial and economic inclusion, and engagement in climate action.
Lastly, the PGIM Jennison Focused Mid-Cap ETF (PJFM) invests in medium-sized companies diversified across industries and sectors where the investment team sees the potential for durable earnings growth on an intermediate term basis.
A new offering from PGIM Fixed Income
The PGIM Short Duration High Yield ETF (PSH) seeks total return through a combination of current income and capital appreciation, investing in a diversified portfolio of shorter-duration high yield fixed income securities that are rated below investment grade. PSH is subadvised by PGIM Fixed Income, one of the largest and most experienced fixed income managers in the world.
Learn more about PGIM’s suite of actively managed ETFs.
ABOUT PGIM INVESTMENTS
PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.
ABOUT JENNISON ASSOCIATES LLC
Founded in 1969, Jennison Associates offers a range of equity and fixed income investment strategies. Its equity expertise spans styles, geographies, and market capitalizations. Its fixed income capability includes investment-grade active and structured strategies of various durations. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions. As of Sept. 30, 2023, Jennison managed $175 billion in client assets. For more information, please visit jennison.com.
ABOUT PGIM FIXED INCOME
PGIM Fixed Income, with $744 billion in assets under management as of Sept. 30, 2023, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Zurich, Munich, Singapore, Hong Kong, and Tokyo. For more information, visit pgimfixedincome.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.2 trillion in assets under management as of Sept. 30, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner 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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1 The term PGIM as used in this announcement includes PGIM Investments LLC, an indirect, wholly owned subsidiary of Prudential Financial, Inc.
2 Morningstar Rankings as of Oct. 31, 2023: 1-year: 53% (224 out of 414); 3-year: 80% (299 out of 383); 5-year: 3% (8 out of 332); 10-year: 5% (7 out of 229).
Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.
Investing in mutual funds and ETFs involves risks. Some funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money.
The Funds are actively managed exchange traded funds (ETFs) and thus do not seek to replicate the performance of a specified index. ETF shares are not individually redeemable from the Funds. Shares may only be redeemed directly from the Fund by Authorized Participants in Creation Units.
Fixed income investments are subject to credit, market, and interest rate risks (including duration risk and prepayment risk), and their value will decline as interest rates rise; call and redemption risk, where the issuer may call a bond held by the Fund for redemption before it matures and the Fund may lose income; liquidity risk, which exists when particular investments are difficult to sell; and emerging markets risk, which exposes the Fund to greater volatility and price declines.
Investment products are distributed by Prudential Investment Management Services LLC, a a member FINRA and SIPC. Jennison Associates is a registered investment advisor. PGIM Fixed Income is an affiliate of PGIM. Both are Prudential Financial companies. © 2023 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.
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