PGIM Investments has forayed into the active ETF market by launching a fixed income fund that aims to manage risk while offering income and capital appreciation.
The vehicle, called PGIM Ultra Short Bond ETF, will offer exposure to US dollar-denominated short-term fixed, variable and floating-rate debt instruments.
It takes a risk-managed and short duration approach to protect investors against increasing rates and help them diversify cash management strategy.
PGIM Investments president and CEO Stuart Parker said: “Investors are using a variety of investment vehicles to meet their needs. The actively managed ETF market, while small, has seen steady growth. Entering this market is a natural next step to expand our product range.”
The fund is sub-advised by PGIM Fixed Income and will be managed by PGIM Fixed Income senior portfolio managers Joseph D’Angelo and Douglas Smith.
PGIM Fixed Income head and CIO Michael Lillard said: “We are very excited to launch our first active ETF fund and firmly believe that actively managed funds will be an important part of the ETF market going forward.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData