Associated tags: PRU, Prudential Financial, PGIM, Finance, Professional Services, Asset Management, NYSE, Banking, Financial services
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Financial adviser Following the launch of the PGIM U.S. Large-Cap Buffer 12 and 20 ETF series , PGIM,1 the $1.34 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has launched two laddered funds of buffer ETFs, the PGIM Laddered Fund of Buffer 12 ETF (BUFP) and the PGIM Laddered Fund of Buffer 20 ETF (PBFR) (the “ETFs”), on the Cboe BZX.
Key Points:
- Following the launch of the PGIM U.S. Large-Cap Buffer 12 and 20 ETF series , PGIM,1 the $1.34 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has launched two laddered funds of buffer ETFs, the PGIM Laddered Fund of Buffer 12 ETF (BUFP) and the PGIM Laddered Fund of Buffer 20 ETF (PBFR) (the “ETFs”), on the Cboe BZX.
- View the full release here: https://www.businesswire.com/news/home/20240613523196/en/
The two new ETFs seek to generate capital appreciation by providing investors with U.S. large-cap equity market exposure through a laddered portfolio of its Underlying Buffer ETFs.
- The buffer is only provided by the Underlying Buffer ETFs, and the ETFs themselves do not provide any stated buffer against losses.
- The ETFs’ returns are limited by the caps of the Underlying Buffer ETFs.
The distribution amounts are forward-looking and may include net investment income, currency gains, capital gains and a return of capital, but such a determination cannot be made at this time.
Key Points:
- The distribution amounts are forward-looking and may include net investment income, currency gains, capital gains and a return of capital, but such a determination cannot be made at this time.
- This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the applicable Board of Directors.
- If applicable, and when available, a current estimate of the distribution’s composition can be found in the Section 19 notice section of the website.
- Please consult your tax advisor for further information.
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Bank SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, announced today the Q1 2024 placement of a $350 million personal loan securitization exclusively with funds and accounts managed by PGIM Fixed Income, a Prudential Financial (NYSE: PRU) company.
Key Points:
- SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, announced today the Q1 2024 placement of a $350 million personal loan securitization exclusively with funds and accounts managed by PGIM Fixed Income, a Prudential Financial (NYSE: PRU) company.
- “We’ve continued to see healthy demand for our personal loan sales, providing us access to new forms of capital as SoFi helps more members get their money right,” said Anthony Noto, CEO of SoFi.
- PGIM Fixed Income is proud to be a long-standing partner to this established platform.
- Our work together extends nearly 10 years from SoFi’s origins in student loans to today’s multi-channel business,” said Edwin Wilches, Managing Director, PGIM Fixed Income.
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Boston University Jennison Associates, the fundamental active equity and fixed income manager of PGIM, the $1.3 trillion1 global asset management business of Prudential Financial, Inc. ( NYSE: PRU ), has hired Stephen Weiss as managing director in Fixed Income Business Development.
Key Points:
- Jennison Associates, the fundamental active equity and fixed income manager of PGIM, the $1.3 trillion1 global asset management business of Prudential Financial, Inc. ( NYSE: PRU ), has hired Stephen Weiss as managing director in Fixed Income Business Development.
- View the full release here: https://www.businesswire.com/news/home/20240521126711/en/
Based in Jennison’s Boston office, Weiss will report to MacKenzie Hurd, head of Institutional Business Development, and will be responsible for building relationships with Jennison’s fixed income prospects.
- Prior to that, he was a senior client portfolio manager at Income Research + Management.
- “Stephen’s deep fixed income experience and long-standing relationships are a significant benefit to Jennison,” said Hurd.
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Renewable energy “No source of energy and electricity is perfect,” said Shehriyar Antia, PGIM’s head of Thematic Research.
Key Points:
- “No source of energy and electricity is perfect,” said Shehriyar Antia, PGIM’s head of Thematic Research.
- Companies that supply, facilitate and adapt throughout the transition will offer the best investment opportunities:
Critical components for renewable power infrastructure – Renewable power generation is soaring in every region.
- Leaning into lower-carbon fossil fuels – There is a need to meet rising demand for energy while renewable power infrastructure is being built.
- In fact, some research suggests traditional energy firms may actually be leaders in select areas of innovative green tech.
SV12x is located at Equinix's Great Oaks data center campus in San Jose, California alongside four existing Equinix International Business ExchangeTM (IBX®) data centers.
Key Points:
- SV12x is located at Equinix's Great Oaks data center campus in San Jose, California alongside four existing Equinix International Business ExchangeTM (IBX®) data centers.
- Under the terms of the agreement, PGIM Real Estate will control an 80% equity interest in the joint venture, and Equinix will own the remaining 20% equity interest.
- PGIM Real Estate has been investing in the data center sector since 2013.
- This latest joint venture agreement with Equinix marks the first investment made through PGIM Real Estate's dedicated global data center strategy, managed on behalf of third-party clients, to invest exclusively in hyperscale facilities located across internet gateway markets in the U.S., Europe, and Asia-Pacific.
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ETF PGIM,1 the $1.3 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has launched three retirement spending funds: the PGIM Conservative Retirement Spending Fund , PGIM Moderate Retirement Spending Fund and the PGIM Enhanced Retirement Spending Fund .
Key Points:
- PGIM,1 the $1.3 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has launched three retirement spending funds: the PGIM Conservative Retirement Spending Fund , PGIM Moderate Retirement Spending Fund and the PGIM Enhanced Retirement Spending Fund .
- The Funds are designed for investors near or in retirement and aim to help U.S. workers better manage their long-term investments based on their personal spending goals, taking essential and flexible spending into account.
- The Funds, subadvised by PGIM DC Solutions, are each “fund of funds” investing primarily in a range of fixed income, equity, real asset and alternative mutual funds and ETFs.
- The PGIM Retirement Spending Funds offer three distinct portfolios to address these differences, providing a more personalized approach and thoughtful asset allocation mix to help meet varying income needs,” said Jeremy Stempien, co-portfolio manager of the PGIM Retirement Spending Funds and the PGIM Target Date Funds.
PGIM Investments is honored to receive several 2024 LSEG Lipper Fund Awards recognizing the firm for investment excellence, including the U.S. Group Award for Mixed Assets (Firm Size: Large) over three years, and four fund awards across multiple asset classes.
Key Points:
- PGIM Investments is honored to receive several 2024 LSEG Lipper Fund Awards recognizing the firm for investment excellence, including the U.S. Group Award for Mixed Assets (Firm Size: Large) over three years, and four fund awards across multiple asset classes.
- The U.S. Group Award for Mixed Assets is attributed to strong performance from the PGIM Target Date Funds, along with Balanced, Income Builder and Real Asset Funds.
- This is the 14th consecutive year that PGIM Investments’ funds have received Lipper Awards.
- The PGIM U.S. Real Estate Fund was named best-in-class among Real Estate funds for the 3-year period (Z share class, PJEZX) out of 200 funds.
The distribution amounts are forward-looking and may include net investment income, currency gains, capital gains and a return of capital, but such a determination cannot be made at this time.
Key Points:
- The distribution amounts are forward-looking and may include net investment income, currency gains, capital gains and a return of capital, but such a determination cannot be made at this time.
- This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the applicable Board of Directors.
- If applicable, and when available, a current estimate of the distribution’s composition can be found in the Section 19 notice section of the website.
- Please consult your tax advisor for further information.
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Cryptocurrency PGIM, 1 the $1.2 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), finds that retirement and financial confidence have lingered at “below average” levels since the second quarter of 2022, according to the firm’s new PGIM RetireWell™ Confidence Index .
Key Points:
- PGIM, 1 the $1.2 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), finds that retirement and financial confidence have lingered at “below average” levels since the second quarter of 2022, according to the firm’s new PGIM RetireWell™ Confidence Index .
- View the full release here: https://www.businesswire.com/news/home/20240205887895/en/
PGIM RetireWell Confidence Index: Using the Prudential financial wellness assessment, the current question used to estimate financial confidence asks respondents, “Overall, how are you feeling about your finances?” while the retirement confidence question asks, “Do you think you’ll have enough savings for the retirement you want?” The PGIM RetireWell Confidence Index is the average of the financial confidence score and the retirement confidence score.
- Alarmingly, individuals between 45 and 59 years of age, those approaching retirement, had the lowest average retirement confidence score (37) among age groups.
- Michael Miller, head of PGIM DC Solutions, added, “We see the PGIM RetireWell Confidence Index as a value-add for employers who want a better understanding of how American workers are thinking and feeling about retirement and their finances in general.
