PGIM, 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.
“Building out our suite of actively managed ETFs is a priority for PGIM, and we have aggressive plans for future product development.”
Stuart ParkerPresident and Chief Executive OfficerPGIM 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.
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.
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