PGIM Investments Launches Growth, Value and Multi-Asset ETFs

Rhea-AI Summary

PGIM Investments has launched three actively managed ETFs: PGIM Jennison Focused Growth ETF (PJFG), PGIM Jennison Focused Value ETF (PJFV), and PGIM Portfolio Ballast ETF (PBL). This expansion brings PGIM's active ETF lineup to eight. The new funds are designed to provide transparency and tax efficiency, with strategies that mirror existing mutual fund and institutional strategies. Notably, PBL aims to moderate volatility, targeting 60% of S&P 500 returns in appreciating markets and 30% in declining markets.

Positive

• Launch of three new actively managed ETFs expands PGIM's product offering to eight funds.
• Funds aim to provide long-term capital growth with strategies based on deep fundamental research.
• PBL provides a strategy aimed at capturing performance with reduced volatility compared to the S&P 500.

Negative

• None.

Time-tested, actively managed strategies now available as ETFs

NEWARK, N.J.--(BUSINESS WIRE)-- PGIM Investments has launched three actively managed ETFs — the PGIM Jennison Focused Growth ETF (PJFG), the PGIM Jennison Focused Value ETF (PJFV) and the PGIM Portfolio Ballast ETF (PBL).

Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire)

With these launches, PGIM Investments expands its lineup of active ETFs to eight funds. The new funds complement PGIM Investments’ existing suite of actively managed fixed income ETFs.

“PGIM continues to expand access to our time-tested investment strategies by bringing them to market in the ETF wrapper. These new funds offer compelling investment strategies, combined with the benefits of the ETF structure, including increased transparency and greater tax-efficiency,” said Stuart Parker, president and CEO of PGIM Investments.

FULLY TRANSPARENT GROWTH AND VALUE ETFS

The PGIM Jennison funds are fully transparent ETFs with concentrated, high-conviction portfolios. Jennison’s equity investment approach is rooted in deep, fundamental research and bottom-up security selection. Both funds’ investment strategies are substantially similar to those of their respective mutual fund and institutional strategy counterparts.

The PGIM Jennison Focused Growth ETF (PJFG) seeks to provide long-term growth of capital by investing in a focused portfolio of primarily mid- and large-capitalization stocks believed to have strong capital appreciation potential. The Fund’s investment team believes that excess returns can be generated by investing in market-leading companies that create economic value through unique business models, long-duration competitive advantages and catalysts that drive growth rates well above that of the market.

The PGIM Jennison Focused Value ETF (PJFV) seeks to provide long-term growth of capital by investing in a focused portfolio of predominantly large-capitalization companies believed to be undervalued compared to their perceived worth. The Fund’s investment team looks for companies that have one or more of the following characteristics: attractive valuation metrics that are unique to that business, high levels of durability and viability of the business, good business models that are being mispriced, high returns on assets and/or equity, high free cash flow yields, management teams that are willing to make changes, and/or something operationally wrong that can be fixed or is temporary.

A MULTI-ASSET ETF TO HELP NAVIGATE MARKET VOLATILITY

The PGIM Portfolio Ballast ETF (PBL), seeks to provide long-term capital growth with reduced volatility compared to the equity market. PBL’s long-term goal is to capture 60% of the performance of the S&P 500 on average in appreciating equity markets, and to capture 30% of the performance of the S&P 500 on average in declining equity markets over a market cycle.

Like ballast on a ship providing critical stability amid rough waters, the PGIM Portfolio Ballast ETF offers what may be an attractive and uniquely diversifying solution in the face of uncertain and turbulent markets.

PBL’s underlying strategy is substantially similar to the U.S. Market Participation Strategy (MPS) — an institutional strategy with a live 30-year track record and more than $1 billion of client capital as of Oct. 31, 2022. Both MPS and PBL are managed by PGIM Quantitative Solutions, the quantitative and multi-asset specialist of PGIM.

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, 2022, Jennison managed $164 billion in client assets. For more information, please visit jennison.com.

ABOUT PGIM QUANTITATIVE SOLUTIONS

PGIM Quantitative Solutions is the quantitative equity, systematic macro, and multi-asset specialist of PGIM. For more than 45 years, PGIM Quant Solutions has helped investors around the world solve their unique needs by leveraging the power of technology and data as well as advanced academic research. PGIM Quant Solutions manages portfolios across equities, multi-asset and liquid alternatives and also offers defined contribution solutions. As of Sept. 30, 2022, PGIM Quant Solutions managed $81 billion in client assets. For more information, please visit pgimquantitativesolutions.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, 2022. 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.

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.

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and FINRA member firm. Jennison Associates is a registered investment advisor. PGIM Quantitative Solutions is a wholly owned subsidiary of PGIM. Both are Prudential Financial companies. © 2022 Prudential Financial, Inc. and its related entities. Jennison, PGIM Quantitative Solutions, 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005168/en/

MEDIA

Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Source: PGIM

FAQ

What new ETFs did PGIM Investments launch?

PGIM launched the PGIM Jennison Focused Growth ETF (PJFG), PGIM Jennison Focused Value ETF (PJFV), and PGIM Portfolio Ballast ETF (PBL).

What is the investment strategy of PGIM Jennison Focused Growth ETF (PJFG)?

PJFG seeks long-term capital growth by investing in a focused portfolio of mid- and large-capitalization stocks with strong capital appreciation potential.

What is the aim of PGIM Portfolio Ballast ETF (PBL)?

PBL aims to capture 60% of the S&P 500 performance in appreciating markets and 30% in declining markets, focusing on reducing volatility.

How many ETFs does PGIM now offer?

With the new launches, PGIM now offers a total of eight actively managed ETFs.

How do the new ETFs compare to existing PGIM funds?

The new ETFs have investment strategies that are substantially similar to existing mutual fund and institutional strategies.