MutualFundWire.com: Parker Adds 3 to a $17.1B-AUM ETF Biz

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Wednesday, August 6, 2025

Parker Adds 3 to a $17.1B-AUM ETF Biz

The folks at a publicly traded insurer's 41-office, 1,450-investment-professional, $1.39-trillion-AUM* asset management arm are expanding their $17.1-billion-AUM** ETF business with a triple launch.

Stuart Parker
PGIM Investments
President, CEO

Last Friday (August 1), Stuart Parker, head of global wealth at Prudential Financial, Inc.'s PGIM [profile], and Rajit Shah, managing director and co-head of the U.S. investment grade corporate bond team at PGIM Fixed Income, unveiled the launch of the PGIM Corporate Bond 0-5 Year ETF (PCS on the Cboe BZX), the PGIM Corporate Bond 5-10 Year ETF (PCI), and the PGIM Corporate Bond 10+ Year ETF (PCL). Newark, New Jersey-based PGIM Investments LLC serves as investment advisor to the new funds, while PGIM Fixed Income and PGIM Limited serve as subadvisors.

The launch boosts PGIM's fixed income ETF lineup to 13 ETFs in total. (PGIM also offers more than 50 ETFs, including buffer ETFs, equity ETFs, and multi-asset ETFs.)

PCL, PCI, and PCS' inception date was July 29. PCS comes with an expense ratio of 20 basis points, while PCI and PCL come with expense ratios of 25bps. PCL now has about $76 million in AUM, PCI now has about $138 million, and PCS now has about $134 million***.

The PM team for PCS and PCI includes four PGIM portfolio managers:

Matthew Csontos, principal;

David Del Vecchio, managing director and co-head of the U.S. investment grade corporate bond team;

Milan Kalaria, vice president; and

Shah himself.

The PM team for PCL includes five PGIM PMs:

Lee Friedman, principal;

Paul Zetterstrom, principal; and

Csontos, Del Vecchio, and Shah.

Parker describes PCI, PCL, and PCS as "designed to meet the growing demand for investing in high quality corporate fixed income securities."

"This launch reflects our commitment to bringing a diverse set of actively managed fixed income solutions to market for clients in additional wrappers," Parker states.

Shah adds that the three new funds "leverage PGIM's deep expertise in credit research and active portfolio management to uncover value while seeking to deliver consistent, long-term returns."

"By offering targeted maturity exposure with active management, our solutions can help investors better align their bond allocations with risk and return objectives," Shah states.

PCS, PCL, and PCI are each actively managed series of PGIM ETF Trust. The new ETFs' other service providers include:

the Bank of New York Mellon (BNY) as custodian, dividend disbursing agent, and transfer agent;

PricewaterhouseCoopers LLP (PwC) as independent accounting firm; and

Prudential Investment Management Services LLC (PIMS) as distributor.