MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, December 21, 2023 14 Active ETFs and Counting The team at a publicly traded insurer's $1.2-trillion-AUM (as of September 30) asset manager is adding a quartet of new ETFs, all actively managed. The quadruple launch (of one fixed income fund and three equity funds) expands the firm's active ETF lineup to 14 funds in total.
The inception date for PSH, PJIO, PJFM, and PJBF was December 14. PGIM Investments, LLC serves as the new ETFs' investment advisor, and Prudential Investment Management Services LLC (PIMS) serves as distributor. PJBF comes with an expense ratio of 59 basis points and it had $9.9 million in AUM as of market close yesterday. Jennison Associates LLC serves as the fund's subadvisor, and the fund's PM team includes: Mark Baribeau, managing director and head of global equity at Jennison; Rebecca Irwin, managing director, large cap growth equity portfolio manager, and research analyst at Jennison; and Jason McManus, managing director, head of custom solutions, and custom solutions PM at Jennison. PJFM comes with an expense ratio of 49bps, and as of market close yesterday it had $9.9 million in AUM. Jennison serves as the fund's subadvisor, and the fund's PM team includes: Jason Swiatek, managing director, head of small and midcap equity, and PM at Jennison; and McManus. PJIO comes with an expense ratio of 90bps, and as of market close yesterday it, too, had $9.9 million in AUM. Jennison serves as the fund's subadvisor, and the fund's PM team includes: Thomas Davis, managing director, global and international equity PM at Jennison; Baribeau; and McManus. PSH comes with an expense ratio of 45bps, and as of market close yesterday it had $25.1 million in AUM. PGIM Fixed Income and PGIM Limited serve as the fund's subadvisors, and the fund's PM team includes: Robert Cignarella, managing director, head of U.S. high yield at PGIM Fixed Income; Brian Clapp, principal, high yield on PGIM Fixed Income's high yield team; Michael Gormally, vice presidentm PM on PGIM Fixed Income's U.S. high yield bond team; Brian Lalli, principal, PM on PGIM Fixed icnome's U.S. high yield bond team; and Robert Spano, principal, high yield PM on PGIM Fixed Income's high yield bond team. The quadruple launch comes four months after the PGIM folks launched their ninth and tenth active ETFs. Parker confirms that boosting PGIM's "suite of actively managed ETFs is a priority for PGIM." "We have aggressive plans for future product development," Parker states, adding that client demand for active ETFs is accelerating. The new PGIM ETFs' other service providers include: Bank of New York Mellon as custodian, dividend disbursing agent, and transfer agent; PricewaterhouseCoopers LLP as independent accounting firm; and Securities Finance Trust Company (eSecLending) as securities lending agent. Printed from: MFWire.com/story.asp?s=66844 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
