PGIM, the $1.2 trillion global investment management business of Prudential Financial, has expanded its ETF lineup with four new actively managed ETFs.
The firm launched the PGIM Jennison International Opportunities ETF, the PGIM Jennison Better Future ETF, the PGIM Jennison Focused Mid-Cap ETF, and the PGIM Short Duration High Yield ETF.
“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 sub-advised by our affiliate managers to meet the accelerating demand for active ETFs from our clients,” Stuart Parker, president and CEO of PGIM Investments, said in a statement.
PGIM now offers 14 actively managed ETFs across equity and fixed-income asset classes.
The three new equity ETFs that are sub-advised by Jennison Associates seek long-term growth of capital with concentrated, high-conviction portfolios.
The PGIM Jennison International Opportunities ETF 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, PGIM said.
The PGIM Jennison Better Future ETF 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, PGIM said.
The PGIM Jennison Focused Mid-Cap ETF 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, the company said.
The PGIM Short Duration High Yield ETF 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, PGIM said.