PGIM Investments is expanding its commitment to environmental, social and governance (ESG) investing with the launch of the PGIM ESG Total Return Bond Fund, its first dedicated ESG strategy offered to U.S. 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 fixed income sectors, emphasizing issuers with stronger ESG characteristics and practices than traditional intermediate core-plus 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, averaging 27 years’ investment experience.
PGIM Fixed Income’s methodology begins with an exclusionary screen and then utilizes a proprietary scoring methodology to assign ESG impact ratings and construct the fund’s portfolio. These ESG ratings are assigned by a team of more than 110 analysts and overseen by PGIM Fixed Income’s ESG committee. Under normal circumstances, the fund will not purchase securities of issuers that have ESG impact ratings below an established threshold.
“As one of the largest fixed income fund providers, we recognize the increased demand from clients for 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 ability to express their values and beliefs through their investments, while continuing to deliver on the rigorous investment standards PGIM Fixed Income is known for.”
Greg Peters, head of Multi-Sector and Strategy, PGIM Fixed Income, added, “Our relative value analysis incorporates credit material ESG factors to help identify risks and opportunities. Taking that analysis a step further in the PGIM ESG Total Return Bond Fund, our ESG Impact ratings allow us to construct a portfolio with the dual objective of maximizing return while also accounting for the positive or negative potential outcomes of our investments on the environment and society.”
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 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 world2 with approximately $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 June 30, 2021. | |
2 | Prudential Financial, Inc. (PFI) is the 10th-largest investment manager (out of 477) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by PFI as of Dec. 31, 2020. |
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 involves risks. Some mutual 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. Diversification and asset allocation do not assure a profit or protect against loss in declining markets. There is no guarantee that a fund’s objectives will be achieved. The risks associated with each fund are explained more fully in each fund’s respective prospectus.
Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Fixed Income is an affiliate of PGIM. © 2021 Prudential Financial, Inc. and its related entities. The PGIM logo is a service mark 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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Contacts:
Kylie Scott
+1 973 902 2503
kylie.scott@pgim.com
