PGIM Short Duration High Yield Opportunities Fund raises $542 million
PGIM Investments has successfully completed the initial public offering of the PGIM Short Duration High Yield Opportunities Fund.
LONDON, 11 Nov. 2020 – PGIM Investments, the manufacturing and fund distribution arm of the US$1.4trn global investment manager PGIM, has further demonstrated its long-term commitment to the UK by joining the Investment Association (IA).
As a member of the IA, 22 of PGIM Investments’ specialist UCITS funds have entered the IA sectors. These strategies are managed by PGIM’s highly regarded autonomous asset management businesses: PGIM Fixed Income, Jennison Associates, PGIM Real Estate and QMA.
PGIM Investments, which has a long association of working with the world’s leading trade bodies, has continued to expand its UK footprint in recent years. As a skilled provider of alpha-generating investment strategies, PGIM Investments has witnessed its UCITS platform grow from US$5bn assets under management (AUM) at the start of 2020 to over US$8bn AUM as of 31 Oct. 2020.
Kimberly LaPointe, head of PGIM Investments International, comments: “The European market remains central to the expansion of our business globally and we have been investing in our operating infrastructure, including enhancing visibility for the PGIM Funds to the cross-border funds industry. We continue our commitment to bringing PGIM investment solutions to European clients, with 29 UCITS funds now registered in 18 countries across the continent and the strategic hiring of talent across our seven European office locations to strengthen existing client relationships while also broadening our client footprint.”
The PGIM Jennison Global Equity Opportunities Fund, managed by Mark Baribeau, Jennison Associates’ head of Global Equity, has been particularly popular with the UK intermediary market. Baribeau and his team believe the disruptive companies challenging traditional industries before the COVID-19 crisis are likely to emerge as the long-term growth leaders of tomorrow.
Charlie Wilson, head of European accounts at PGIM Investments, comments: “We have made significant inroads into the highly competitive UK marketplace in recent years—as our range of specialist fixed income, equity and real estate offerings increasingly appeal to UK intermediaries. The inclusion of our funds in the IA universe is another step forward in boosting the recognition of our suite of UCITS strategies for UK fund selectors.
“In addition, we look forward to working closely with our IA member peers in the continued development of our industry and to shine the spotlight further on the merits of active management, which has consistently demonstrated its value through the COVID-19 market turbulence.”
|PGIM Broad Market US High Yield Bond||Global Bonds|
|PGIM Emerging Market Local Currency Debt||Global Emerging Markets Bond – Local Currency|
|PGIM Emerging Market Total Return Bond||Global Emerging Markets Bond – Blended|
|PGIM European Corporate Bond||Global Bonds|
|PGIM European High Yield Bond||Global Bonds|
|PGIM Global Corporate Bond||Global Bonds|
|PGIM Global High Yield Bond||Global Bonds|
|PGIM Real Estate Securities||Property Other|
|PGIM Global Total Return Bond||Global Bonds|
|PGIM Jennison Emerging Markets Equity||Global Emerging Markets|
|PGIM Jennison Global Equity Opportunities||Global|
|PGIM Jennison US Growth||North America|
|PGIM Multi Asset Credit||Global Bonds|
|PGIM QMA Emerging Markets All Cap Equity||Global Emerging Markets|
|PGIM QMA Global Core Equity ESG||Global|
|PGIM QMA Global Equity Opportunities||Global|
|PGIM QMA Global Select Core Equity||Global|
|PGIM QMA Global Small Cap Equity||Global|
|PGIM QMAW Keynes Systematic Absolute Return||Flexible Investment|
|PGIM US BB-B High Yield Bond Fund||Global Bonds|
|PGIM US Corporate Bond||Global Bonds|
|PGIM Absolute Return Fund||Global Bonds|
About PGIM Investments and PGIM Funds
PGIM Investments LLC offers 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 Funds plc is an Ireland-domiciled UCITS umbrella fund serving institutional and wholesale investors across the globe. For a full list of funds available in your region, visit pgimfunds.com.
PGIM is the global asset management business of Prudential Financial, Inc. (PFI) (NYSE: PRU). PFI ranks among the top 10 largest asset managers in the world** with more than US$1.4 trillion in assets under management as of 30 Sept. 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.
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.
**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 1 June 2020. This ranking represents global assets under management by PFI as of 31 March 2020.
Issued by PGIM Limited. Registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority of the United Kingdom (Firm Reference Number 193418) and duly passported in various jurisdictions in the European Economic Area.