Ranks #1 for active taxable fixed income flows for past 5
years
PGIM Investments ended 2019 with $12.2 billion in net mutual
fund flows and record mutual fund assets under management of $122.5
billion.i The strong flows and record AUM growth were largely
driven by demand for its fixed income funds.
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Stuart Parker, President and CEO, PGIM
Investments (Photo: Business Wire)
PGIM Investments ranks fourth out of 722 firms in terms of net
new active mutual fund flows for 2019 and ninth over the past
decade.ii This was the firm’s 11th consecutive year of positive net
mutual fund flows.
PGIM Investments is the global manufacturer and fund distributor
of PGIM Inc., the $1.3 trillion global investment management
business of Prudential Financial, Inc. (NYSE: PRU)—a top-10
investment manager globally.
Stuart Parker, PGIM Investments president and CEO, said, “Our
success is a direct result of strong investment performance across
multiple asset classes, particularly fixed income. In a challenging
environment for many managers, we believe our continued growth
confirms that there is significant demand for a combination of
strong performance, competitive fees and a breadth of
products.”
#1 for Active Taxable Fixed Income Flows for Past 5
Years
Among all U.S. fund families, PGIM Investments attracted the
most net new flows for active taxable fixed income mutual funds for
the five-year period ending Dec. 31, 2019.iii
Top-Decile Performance
Flows into PGIM’s fixed income funds were fueled by strong
performance. PGIM Investments is the only U.S. fund family that
offers a top decile-ranked fund for the 15-year period in four
highly competitive Morningstar fixed income categories, as shown
below.iv
Fund Name
Morningstar Category
Morningstar Rankings
PGIM Total Return Bond Fund (PDBZX)
Intermediate Core-Plus Bond
Top decile for the 1-, 3-, 5-, 10-
and 15-year periods
PGIM Global Total Return Fund (PZTRX)
World Bond
Top decile for the 1-, 3-, 5-, 10-
and 15-year periods
PGIM High Yield Fund (PHYZX)
High Yield Bond
Top decile for the 1-, 3-, 5-, 10-
and 15-year periods
PGIM Short-Term Corporate Bond Fund
(PIFZX)
Short-Term Bond
Top decile for the 1- and 15-year
periods;
Top quartile for the 3-, 5- and
10-year periods
Note: Morningstar category rankings are
based on total return, do not include the effect of sales charges,
and are calculated against all funds in each respective Morningstar
category as of Dec. 31, 2019. The time period for the data is
12/31/04-12/31/19. The 1-, 3-, 5-, 10- and 15-year rankings for the
Funds listed are as follows: PGIM Total Return Bond Fund: 8%
(57/613), 2% (12/530), 4% (14/444), 8% (18/332) and 4% (7/227);
PGIM Global Total Return Fund: 1% (2/210), 1% (2/181), 1% (1/171),
1% (1/102) and 2% (2/56); PGIM High Yield Fund: 8% (43/711), 3%
(14/616), 2% (10/539), 6% (16/339) and 4% (7/222); PGIM Short-Term
Corporate Bond Fund: 7% (27/569), 12% (54/488), 12% (52/442), 14%
(38/280) and 5% (11/186).
The PGIM Jennison Global Opportunities Fund and the PGIM Select
Real Estate Fund also delivered strong performance over multiple
time periods. Among active stock mutual funds, the PGIM Jennison
Global Opportunities Fund ranked second for net flows in the
Morningstar World Large Stock category in 2019.v
Fund Name
Morningstar Category
Morningstar Rankings
PGIM Jennison Global Opportunities Fund
(PRJZX)
World Large Stock
Top decile for the 3- and 5-year
periods
PGIM Select Real Estate Fund (SREZX)
Global Real Estate
Top decile for the 1-, 3- and
5-year periods
Note: Morningstar category rankings are
based on total return, do not include the effect of sales charges,
and are calculated against all funds in each respective Morningstar
category as of Dec. 31, 2019. The time period for the data is
12/31/14-12/31/19. The 3- and 5-year rankings for the PGIM Jennison
Global Opportunities Fund are 2% (15/722) and 3% (11/605),
respectively. The 1-, 3- and 5-year rankings for the PGIM Select
Real Estate Fund are 1% (1/225), 9% (20/200) and 2% (5/170),
respectively.
Lowering Costs for Investors
In addition to delivering attractive returns, the firm continues
to lower costs for shareholders. Since 2012, PGIM Investments has
lowered the expense ratio for 33 funds. A majority (85%) of PGIM
mutual fund assets are now in the first or second quartile of
expense ratio rankings.vi
A Vehicle-Agnostic Approach
PGIM Investments continues to expand the ways that clients can
access investment strategies outside of the mutual fund structure,
including ETFs, Separately Managed Accounts and private fund
offerings. The PGIM Ultra Short Bond ETF (PULS), named 2019 New
Active ETF of the Year by Fund Intelligence, recently surpassed $1
billion in assets under management. vii The firm also helped market
the first private real estate deal to the private wealth
channel.
Parker added, “Looking ahead, we will continue to take a
vehicle-agnostic approach, offering investment strategies in the
way our clients want to access them. There’s no one-size-fits-all
when it comes to our clients and we are committed to remaining
their partner of choice in 2020 and beyond.”
About PGIM Investments
PGIM Investments LLC offers 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 and real estate.
About PGIM and Prudential Financial,
Inc.
PGIM, the global asset management business of Prudential
Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset
managers in the worldviii with more than $1.3 trillion in assets
under management as of Dec. 31, 2019. With offices in 16 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’s additional businesses offer a variety of products
and services, including life insurance, annuities and
retirement-related services. For more information about Prudential,
please visit news.prudential.com.
Prudential Financial, Inc. 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.
Mutual fund and ETF investing involves risk. 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. There is
no guarantee a Fund’s objectives will be achieved. Fixed income
investments are subject to interest rate risk, where their
value will decline as interest rates rise. Diversification does not
assure a profit or protect against loss in declining markets.
Class Z shares may be available to group retirement plans and
institutional investors through certain retirement, mutual fund
wrap and asset allocation programs. They may also be available to
institutional investors and through fee- or commission-based retail
brokerage programs of certain financial intermediaries. Class Z
shares are generally closed to new retirement plans. Please see the
prospectus for additional information about fees, expenses, and
investor eligibility.
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.
Mutual funds and ETFs are distributed by Prudential Investment
Management Services LLC, a Prudential Financial company. Jennison
Associates and PGIM are registered investment advisors and
Prudential Financial companies. PGIM Fixed Income and PGlM Real
Estate are units of PGIM. © 2020 Prudential Financial, Inc. and its
related entities. Jennison, Jennison Associates PGIM, PGIM Real
Estate and the PGIM logo are service marks of Prudential Financial,
Inc. and its related entities, registered in many jurisdictions
worldwide.
© 2020 Morningstar, Inc. All rights reserved. The information
contained herein (1) is proprietary to Morningstar and/or its
content providers; (2) may not be copied or distributed; and (3) is
not warranted to be accurate, complete, or timely. Neither
Morningstar nor its content providers are responsible for any
damages or losses arising from any use of this information.
This material is being provided for informational or educational
purposes only and does not take into account the investment
objectives or financial situation of any client or prospective
clients. The information is not intended as investment advice and
is not a recommendation about managing or investing your retirement
savings. Clients seeking information regarding their particular
investment needs should contact a financial professional.
1030975-00003-00
i PGIM Investments, as of Dec. 31, 2019. ii ISS Strategic
Insight Simfund, as of Dec. 31, 2019. iii ISS Strategic Insight
Simfund, as of Dec. 31, 2019. iv Morningstar, as of Dec. 31, 2019.
v Morningstar, as of Dec. 31, 2019. vi Morningstar, as of Dec. 31,
2019. Analysis is based on like-to-like share class type. Fee ranks
are calculated by Morningstar based on the official Morningstar
Category Share Class subsets. Assets are based on each individual
share class AUM as of Dec. 31, 2019. viiPGIM Ultra Short Bond ETF
was the recipient of the Fund Intelligence 2019 Mutual Fund and ETF
Award for New Active ETF of the Year. ETF awards are given to the
most successful ETF in each category. New Active ETF of the Year is
given to the most successful active ETF as determined by a
combination of several factors, including flows, performance and
innovation. The ETF must be considered active by the Securities and
Exchange Commission to qualify. ETFs launched on or after Jan. 1,
2018 are eligible for entry. viii Pensions & Investments’ Top
Money Managers list, May 27, 2019; based on Prudential Financial
total worldwide institutional assets under management as of Dec.
31, 2018. Assets under management (AUM) are based on company
estimates and are subject to change.
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version on businesswire.com: https://www.businesswire.com/news/home/20200211005152/en/
Kylie Scott 973-902-2503 kylie.scott@pgim.com
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