PGIM unveils Global Total Return ESG Bond Fund
PGIM has further expanded its environmental, social and governance (ESG) offerings with the launch of the PGIM Global Total Return ESG Bond Fund.
Positive vaccine news and clarity on the U.S. Presidential election results drove performance in global REITs for the fourth quarter. Pfizer released news of their COVID-19 phase 3 clinical trials and surprised investors with a highly effective 90% efficacy rate. Moderna announced similar vaccine results shortly thereafter. Additionally, the hotly contested U.S. Presidential election ultimately produced a clear winner after several days of ballot counting.
Global REITs were up over 13% during the quarter. A clear economic re-opening signal was a significant catalyst for REIT outperformance since the pandemic hit right at the heart of real estate and impacted how people live, work, and play. Investor concerns remain regarding the magnitude of the “COVID Winter” virus outbreak and new mutations that may spread more easily and/or be more resilient to existing vaccines; however, continued government stimulus and vaccine roll outs have investors optimistic that COVID winter impacts will be temporary. Active management continues to be an important tool in the investor toolbox as opportunities shift from earnings streams that benefitted or were resilient to the pandemic to earnings streams that were temporarily impacted by the pandemic, but long-term demand trends are intact.
Past performance is no guarantee of future results.
For Professional Investors only. All investments involve risk, including the possible loss of capital.
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