PGIM Investments launches multisectoral ESG bond fund | National company
NEWARK, NJ – (BUSINESS WIRE) – Sep 30, 2021–
PGIM Investments extends its commitment to environmental, social and governance (ESG) investments with the launch of the PGIM ESG Total Return Bond Fund, its first dedicated ESG strategy offered to American investors. The new fund is an alternative but complementary offering to PGIM’s $ 60 billion PGIM total return bond fund.
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Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire)
PGIM is the $ 1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
The fund seeks total return by investing in a diversified portfolio of bonds across multiple bond sectors, with an emphasis on issuers with stronger ESG characteristics and practices than traditional core-more intermediate bond portfolios.
The fund is managed by an experienced team of PGIM fixed income portfolio managers, including Gregory Peters, Robert Tipp, Michael Collins, Richard Piccirillo and Lindsay Rosner, with an average of 27 years of investment experience.
PGIM Fixed Income’s methodology starts with exclusion screening, then uses a proprietary rating methodology to assign ESG impact ratings and build the fund’s portfolio. These ESG ratings are assigned by a team of over 110 analysts and overseen by the PGIM Fixed Income ESG committee. Under normal circumstances, the fund will not purchase securities from issuers with ESG impact ratings below a set threshold.
“As one of the largest providers of fixed income funds, we recognize the growing demand from clients for the optionality between traditional and ESG investment strategies,” said Stuart Parker, President and CEO of PGIM Investments. “With this launch, we are pleased to offer our clients the opportunity to express their values and beliefs through their investments, while continuing to adhere to the rigorous investment standards for which PGIM Fixed Income is known.”
Greg Peters, Head of Multi-Sector & Strategy, PGIM Fixed Income, added: “Our relative value analysis incorporates important credit ESG factors to help identify risks and opportunities. Taking this analysis a step further into the PGIM ESG Total Return Bond Fund, our ESG impact ratings allow us to build a portfolio with the dual objective of maximizing return while taking into account the potential positive or negative results of our investments in the environment and society. . “
ABOUT PGIM INVESTISSEMENTS
PGIM Investments LLC and its affiliates offer more than 100 funds globally across a wide range of asset classes and investment styles. All products are backed by PGIM’s globally diverse investment platform which encompasses the expertise of managers in fixed income, equities, alternatives and real estate.
ABOUT PGIM FIXED INCOME
PGIM Fixed Income, with $ 954 billion in assets under management as of June 30, 2021, is a global asset manager offering active solutions across all bond markets. The company has offices in Newark, NJ, London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong and Singapore. For more information, visit pgimfixed Income.com.
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the world’s 10 largest asset managers 2 with approximately $ 1.5 trillion in assets under management in the world. June 30, 2021. With offices in 17 countries, PGIM’s business provides a range of investment solutions for retail and institutional investors around the world across a wide range of asset classes, including public fixed income securities , private fixed income, fundamental stocks, quantitative stocks, real estate and alternatives. For more information on PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any way with Prudential plc, incorporated in the United Kingdom, or Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
As of June 30, 2021.
Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 477) in terms of global assets under management based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by PFI as of December 31, 2020.
Carefully consider the investment objectives, risks, costs and expenses of a fund before investing. The prospectus and the simplified prospectus contain this information as well as other information about the fund. Contact your financial professional to obtain a prospectus and summary prospectus. Read them carefully before investing.
Investing in mutual funds involves risk. Some mutual funds carry more risk than others. Return on investment and principal value fluctuate and shares once sold may be worth more or less than the original cost and money may be lost. Diversification and asset allocation does not guarantee a profit or protect against losses in falling markets. There is no guarantee that the objectives of a fund will be achieved. The risks associated with each fund are explained in more detail in the respective prospectus of each fund.
The funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Fixed Income is a subsidiary of PGIM. © 2021 Prudential Financial, Inc. and its related entities. The PGIM logo is a service mark of Prudential Financial, Inc. and its affiliates, registered in many jurisdictions around the world.
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not on deposit nor guaranteed by any bank or subsidiary bank.
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SOURCE: PGIM Investments LLC
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PUB: 09/30/2021 8:30 a.m. / DISC: 09/30/2021 8:32 a.m.