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Press Release

PGIM Investments expands active fixed income ETF lineup with launch of core bond fundPGIMInvestmentsexpandsactivefixedincomeETFlineupwithlaunchofcorebondfund

Por PGIM Global Communications — 15 de abr. de 2021

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NEWARK, N.J., April 15, 2021

PGIM Investments is expanding its exchange-traded fund (ETF) lineup with the launch of the PGIM Active Aggregate Bond ETF (NYSE Arca: PAB). PAB is an actively managed fixed income ETF seeking total return through a combination of current income and capital appreciation. PAB offers core fixed income exposure through a diversified portfolio of investment-grade bonds with an estimated total expense ratio of 0.19%.

“Given the current low-yield environment and potential for increased market volatility, there has been strong client demand for active fixed income solutions,” said Stuart Parker, president and CEO of PGIM Investments. “We are pleased to expand our line-up to include a low-cost active core bond ETF that offers alpha potential with effective risk management via PGIM Fixed Income, one of the largest and most experienced bond managers in the world.”

A Risk-Managed Approach to Active Investing

PGIM Investments’ suite of fixed income ETFs are managed by PGIM Fixed Income, one of the largest and most experienced global fixed income managers in the world, with more than $968 billion in assets under management.1 PGIM Fixed Income’s active investment approach is bolstered by credit research, quantitative research and risk management to help deliver competitive returns and manage volatility.

The PGIM Active Aggregate Bond ETF, managed by senior members of PGIM Fixed Income’s multi-sector team, Richard Piccirillo, Lindsay Rosner and Stewart Wong, includes investment restrictions on characteristics such as duration, quality and sectors in order to manage portfolio risks.

Why Active Fixed Income?

PGIM Investments recently conducted an analysis which found that historically, the majority of active fixed income managers have outperformed their passive peers with a better risk/return profile than the average passive manager. The analysis also found that the Bloomberg Barclays U.S. Aggregate Bond Index (the “Agg”) provides limited sector diversification for investors, as it is heavily weighted toward low-yielding U.S. government debt. While the PGIM Active Aggregate Bond ETF is benchmarked to the Agg, the ETF will seek to invest in a more broadly diversified portfolio across fixed income sectors, industries and issuers.

PGIM Fixed Income’s multi-sector team employs a collaborative bottom-up research-driven security selection process with an intense focus on industry and issuer credit research to extract multiple sources of alpha through active allocations across fixed income spread sectors.

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 and real estate.

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world2 with more than $1.5 trillion in assets under management as of December 31, 2020. With offices in 16 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’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about Prudential, please visit news.prudential.com.

1As of Dec. 31, 2020.

2 Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on June 1, 2020. This ranking represents global assets under management by PFI as of March 31, 2020.

Fund Risk Information

The Fund is an actively managed exchange traded fund (ETF) and, thus, does not seek to replicate the performance of a specified index. The Fund actively and frequently trades its portfolio securities which can result in high portfolio turnover and correspondingly greater transaction and brokerage costs. As an ETF, the Fund’s shares trade on an exchange and are subject to ETF shares trading risk, including that the Fund’s shares may trade at a premium or discount to net asset value; during periods may become less liquid; potentially may lack an active trading market, which may result in significant losses if you sell your shares of the Fund during these periods; and may be subject to authorized participant concentration risk, since the Fund has a limited number of intermediaries that act as authorized participants and none of these authorized participants are or will be obligated to engage in creation or redemption transactions. To the extent that these intermediaries exit the business or are unable to or choose not to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant creates or redeems, shares of the Fund may trade at a discount to NAV and possibly face trading halts and/or delisting. The Fund may be subject to the risk of increased expenses, meaning that your actual cost of investing in the Fund may be higher than the expense shown in the expense table, as well as the cost of buying or selling shares, since when you buy or sell shares of the Fund through a broker, you will likely incur brokerage commission or other charges; and cash transaction risk, which is the risk that the Fund (which may affect creation and redemptions in cash or partially in cash) may be less tax-efficient than an investment in an ETF that distributes portfolio securities in-kind. As a new and relatively small fund with limited operating history, the Fund is subject to the risk that its performance might not represent how it may perform long term and investments may have disproportionate impact on performance. 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; emerging markets risk, which exposes the Fund to greater volatility and price declines. The Fund may invest in foreign securities, which generally involve more risk than investing in U.S. issuers, including political, legal, and economic uncertainty; structured products, which are subject to issuer repayment and counterparty risk; derivatives, which may carry market, credit, and liquidity risks; and mortgage-backed and asset-backed securities, which are subject to prepayment, extension, and interest rate risks. The Fund may be subject to management risk, where the value of your investment may decrease if judgments by the subadviser are incorrect; economic and markets event risk, meaning that events in global financial markets could result in high market volatility, market disruption and geopolitical risks, meaning that international wars or conflicts and geopolitical developments including terrorist attacks and outbreaks of infectious diseases could negatively impact interest rates, market volatility and security pricing, and market risk, where the value of investments may decrease and securities markets are volatile. U.S. government and agency securities and U.S. Treasury bills are backed by the full faith and credit of the U.S. government, are less volatile than equity investments, and provide a guaranteed return of principal at maturity. Large shareholders could subject the Fund to large scale redemption risk. Diversification does not assure a profit or protect against loss in declining markets. These risks may increase the Fund’s share price volatility. The risks associated with the Fund are more fully explained in the prospectus and summary prospectus. There is no guarantee the Fund’s objective will be achieved.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact a financial professional.

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.

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Fixed Income is an affiliate 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 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.

1047094-00001-00

Media Contact

Kylie Scott
973-902-2503
Kylie.scott@pgim.com

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Solo para inversionistas profesionales. Todas las inversiones implican riesgos, incluida la posible pérdida de capital.

Este material es solo para fines informativos y educativos, y no debe interpretarse como asesoramiento de inversión ni como una oferta o promoción relacionada con ningún producto o servicio para cualquier persona que tenga prohibido recibir esta información en virtud de las leyes aplicables a su lugar de ciudadanía, domicilio o residencia. PGIM es el negocio principal de gestión de activos de Prudential Financial, Inc., y un nombre comercial de PGIM, Inc. y sus subsidiarias globales. PGIM, Inc. es un asesor de inversiones registrado en la Comisión de Bolsa y Valores (Securities and Exchange Commission, SEC) de los EE. UU. El registro en la SEC no implica un cierto nivel de competencia o formación.

La información incluida en este sitio web no pretende ser asesoramiento en inversiones y no ofrece recomendación alguna sobre la administración o inversión de sus ahorros para la jubilación. Al poner la información a disposición en este sitio web, PGIM, Inc. y sus afiliadas no actúan como su fiduciario.    

En el Reino Unido, la información es emitida por PGIM Limited, con domicilio social en: Grand Buildings, 1-3 Strand, Trafalgar Square, Londres, WC2N 5HR. PGIM Limited está autorizada y regulada por la Autoridad de Conducta Financiera (Financial Conduct Authority, FCA) del Reino Unido (número de referencia de la empresa: 193418). En el Espacio Económico Europeo (EEE), la información es emitida por PGIM Netherlands B.V., con domicilio social en: Gustav Mahlerlaan 1212, 1081 LA, Ámsterdam, Países Bajos. PGIM Netherlands B.V. está autorizada por Autoriteit Financiële Markten (AFM) en los Países Bajos (número de registro: 15003620) y opera sobre la base de un pasaporte europeo. En ciertos países del EEE, PGIM Limited presenta la información, cuando está permitido, en función de disposiciones, exenciones o licencias disponibles para PGIM Limited en virtud de acuerdos de permisos temporales después de la salida del Reino Unido de la Unión Europea. PGIM Limited o PGIM Netherlands B.V. emiten estos materiales para personas que son clientes profesionales según se define en las reglas de la FCA o para personas que son clientes profesionales según se define en la implementación local pertinente de la Directiva 2014/65/UE (MiFID II). En Italia, la información es proporcionada por PGIM Limited, autorizada para operar en Italia por la Comisión Nazionale per le Società e la Borsa (CONSOB). 

En Japón, la información es proporcionada por PGIM Japan Co., Ltd. (PGIM Japan) o PGIM Real Estate (Japan) Ltd. (PGIMREJ).  PGIM Japan, un operador comercial de instrumentos financieros registrado en la Agencia de Servicios Financieros de Japón, ofrece diversos servicios de gestión de inversiones en Japón.  PGIMREJ es un administrador de activos inmobiliarios japonés que está registrado en la Oficina de Finanzas Locales de Kanto en Japón.

En Hong Kong, PGIM (Hong Kong) Limited, una entidad regulada por la Comisión de Títulos y Futuros de Hong Kong, proporciona la información para inversionistas profesionales según se define en la Sección 1 de la Parte 1 del Anexo 1 de la Ordenanza de Títulos y Futuros (Cap. 571). En Singapur, la información es publicada por PGIM (Singapore) Pte. Ltd. (PGIM Singapore), una entidad regulada por la Autoridad Monetaria de Singapur en virtud de una Licencia de Servicios de Mercados de Capitales para llevar a cabo la gestión de fondos y un asesor financiero exento. Este material es emitido por PGIM Singapur para brindar información general de “inversionistas institucionales”, de conformidad con la Sección 304 de la Ley de Títulos y Futuros (Securities and Futures Act, SFA) de Singapur de 2001, y de “inversionistas acreditados” y otras personas pertinentes de acuerdo con las condiciones especificadas en la Sección 305 de la Ley SFA. En Corea del Sur, la información es emitida por PGIM, Inc., que tiene licencia para prestar servicios discrecionales de gestión de inversiones directamente a inversionistas institucionales calificados de Corea del Sur en forma internacional.

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