PGIM appoints Linda Gibson as new CEO of QMA
Quant specialist announces rebrand, launches Defined Contribution Solutions group.
Firm reaches 12th consecutive year of positive net flows
NEWARK, N.J., Feb. 10, 2021 – PGIM Investments ended 2020 with $21.7 billion in net mutual fund flows, No. 2 in the industry, and record mutual fund assets under management (AUM) of $160.4 billion, up 31% from 2019.1 The firm is the fourth fastest growing fund family by organic growth and has reached its 12th consecutive year of positive net mutual fund flows.2
PGIM Investments and its affiliates manufacture and distribute funds on behalf of PGIM, Inc., the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU)—a top-10 investment manager globally.
Strong fund flows and AUM growth were largely driven by demand for PGIM’s actively managed fixed income funds. The firm is the eighth largest fixed income mutual fund family in the U.S.3
Additional 2020 business highlights include:
“PGIM Investments’ continued success is both the outcome of investments made in our business over the past decade as well as the strong investment performance delivered by our asset managers,” said Stuart Parker, PGIM Investments president and CEO. “We look forward to serving our financial intermediary clients into 2021 and beyond.”
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.
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with $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 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.
* 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.