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PGIM Fixed Income announces new head of municipal bond team
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PGIM Fixed Income announced that Jason Appleson will become the head of Municipal Bonds starting January 1, 2022, following Susan Courtney's retirement. Appleson joins from PT Asset Management, where he managed the Performance Trust Municipal Bond Fund with $891 million in assets. He has experience at the Federal Reserve Bank of New York and AllianceBernstein. PGIM Fixed Income manages over $31 billion in municipal assets and $954 billion overall. Appleson's expertise is expected to enhance the firm's municipal bond strategies.
Positive
Jason Appleson appointed as head of Municipal Bonds, bringing extensive experience in bond management.
PGIM Fixed Income manages over $31 billion in municipal assets, indicating a strong market position.
Continued strong flow into municipal bonds suggests robust demand and potential growth.
Negative
None.
NEWARK, N.J.--(BUSINESS WIRE)--
PGIM Fixed Income, a global asset manager offering active solutions across all fixed income markets, announced Jason Appleson will assume the role as head of Municipal Bonds effective Jan. 1, 2022 upon the retirement of long-time head of Municipal Bonds Susan Courtney.
Jason Appleson, Head of Municipal Bonds, PGIM Fixed Income (Photo: Business Wire)
Appleson joins the firm on Nov. 1, 2021, having most recently served as portfolio manager for PT Asset Management’s Morningstar five-star rated Performance Trust Municipal Bond Fund (ticker: PTIMX) with $891 million in assets.1 In this role, Appleson led the portfolio construction, management, trading, and research for the fund. Prior to PT Asset Management he spent time at the Federal Reserve Bank of New York as a credit risk associate, as well as AllianceBernstein as an analyst supporting the firm’s $30 billion municipal fund complex.
“Jason brings strong capabilities in municipal bond portfolio management and relative value analysis, as well as proven investment leadership to our municipal bond team. With continued strong flows into the municipal category, Jason’s expertise will prove immediately valuable to our clients who look to municipal bonds as a key part of their fixed income portfolio,” said Richard Greenwood, head of Credit for PGIM Fixed Income.
PGIM Fixed Income currently manages more than $31 billion2 in municipal assets. As head of the municipal bond team Appleson will report to Greenwood and be responsible for developing, directing and executing investment strategy for all tax-exempt municipal bond assets, including the municipal bond mutual funds.
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 fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong, and Singapore. For more information, visit pgimfixedincome.com.
ABOUT PGIM
PGIM, the global asset management business of Prudential Financial, Inc. ( NYSE: PRU), ranks among the top 10 largest asset managers in the world 3 with $1.5 trillion in assets under management as of June 30, 2021. With offices in 17 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 As of Sept. 30, 2021.
2 As of June 30, 2021.
3Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 477 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on May 31, 2021. This ranking represents global assets under management by PFI as of Dec. 31, 2020.
