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Press Release

PGIM launches four active ETFsPGIMlaunchesfouractiveETFs

By PGIM Global Communications — Dec 19, 2023

3 mins

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NEWARK, N.J., Dec. 19, 2023 – PGIM,1 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.

Media Contact

Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Stuart Parker
“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.2

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.

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, alternatives and real estate.

ABOUT JENNISON ASSOCIATES LLC

Founded in 1969, Jennison Associates offers a range of equity and fixed income investment strategies. Its equity expertise spans styles, geographies, and market capitalizations. Its fixed income capability includes investment-grade active and structured strategies of various durations. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions. As of Sept. 30, 2023, Jennison managed $175 billion in client assets. For more information, please visit jennison.com.

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $744 billion in assets under management as of Sept. 30, 2023, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Zurich, Munich, Singapore, Hong Kong, and Tokyo. For more information, visit pgimfixedincome.com.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.2 trillion in assets under management as of Sept. 30, 2023. With offices in 18 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.

1 The term PGIM as used in this announcement includes PGIM Investments LLC, an indirect, wholly owned subsidiary of Prudential Financial, Inc.

2 Morningstar Rankings as of Oct. 31, 2023: 1-year: 53% (224 out of 414); 3-year: 80% (299 out of 383); 5-year: 3% (8 out of 332); 10-year: 5% (7 out of 229).

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.

Investing in mutual funds and ETFs involves risks. Some funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money.

The Funds are actively managed exchange traded funds (ETFs) and thus do not seek to replicate the performance of a specified index. ETF shares are not individually redeemable from the Funds. Shares may only be redeemed directly from the Fund by Authorized Participants in Creation Units.

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; and emerging markets risk, which exposes the Fund to greater volatility and price declines.

Investment products are distributed by Prudential Investment Management Services LLC, a member FINRA and SIPC. Jennison Associates is a registered investment advisor. PGIM Fixed Income is an affiliate of PGIM. Both are Prudential Financial companies. © 2023 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks 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.

1076325-00001-00

  • By PGIM Global Communications

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For Professional Investors only.* All investments involve risk, including the possible loss of capital.

This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. PGIM is the principal asset management business of Prudential Financial, Inc. and a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is a registered investment adviser with the U.S. Securities and Exchange Commission (“SEC”). Registration with the SEC does not imply a certain level of skill or training.

The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.    

In the United Kingdom, this website may be issued by PGIM Private Alternatives (UK) Limited or PGIM Private Capital Limited.  In the European Economic Area (“EEA”), this website may be issued by PGIM Private Capital (Ireland) Limited or PGIM Luxembourg S.A. or PGIM Real Estate Germany AG.

PGIM, Inc. has its headquarters at 655 Broad Street, Newark, NJ 07102. PGIM Private Capital (Ireland) Limited has its registered office at IDA Business Park, Letterkenny, Co. Donegal, F92 FP83, Ireland. PGIM Private Capital (Ireland) Limited is authorised and regulated by the Central Bank of Ireland and registered in Ireland under company number 635793 operating on the basis of a European passport. PGIM Limited and PGIM Private Alternatives (UK) Limited have their registered offices at Grand Buildings, 1-3 Strand, Trafalgar Square, London WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number: 193418). PGIM Private Alternatives (UK) Limited is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 181389). PGIM Private Capital Limited has its registered address at 1 London Bridge, London SE1 9BG and is authorised and regulated by the FCA of the United Kingdom (Firm Reference Number: 172071). PGIM Luxembourg S.A., Netherlands Branch is registered with the Netherlands Chamber of Commerce under number 85998877 and has its local offices at Gustav Mahlerlaan 1212, 1088LA Amsterdam, The Netherlands. PGIM Luxembourg S.A. has its registered address at 2 Boulevard de la Foire, L-1528 Luxembourg and is authorised and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg (registration number A00001218). PGIM Real Estate Germany AG has its registered address at Wittelsbacher Platz 1, 80333 Munchen, Germany and is authorised and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) in Germany (registration number 10138142).

In Japan, information is provided by PGIM Japan Co., Ltd. (“PGIM Japan”) and/or PGIM Real Estate (Japan) Ltd. (“PGIMREJ”).  PGIM Japan, a registered Financial Instruments Business Operator with the Financial Services Agency of Japan offers various investment management services in Japan.  PGIMREJ is a Japanese real estate asset manager that is registered with the Kanto Local Finance Bureau of Japan.

In Hong Kong, information is provided by PGIM (Hong Kong) Limited, a regulated entity with the Securities & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is issued by PGIM (Singapore) Pte. Ltd. (“PGIM Singapore”), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial adviser. This material is issued by PGIM Singapore for the general information of “institutional investors” pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the “SFA”) and “accredited investors” and other relevant persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, information is issued by PGIM, Inc., which is licensed to provide discretionary investment management services directly to South Korean qualified institutional investors on a cross-border basis.   

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. 

*PGIM.com/Podcasts and its content is intended for informational or educational purposes only and is not directed exclusively to Professional Investors. 

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