Funds provide diversified core equity market exposure to small- and medium-capitalization and international companies
PGIM, the $1.5 trillion1 global asset management business of Prudential Financial, Inc. , has launched two new core equity exchange-traded funds (ETFs), the PGIM Jennison Small-Mid Cap Core Equity ETF (PJSM) and the PGIM Jennison International Core Equity ETF (PJIN).
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Both ETFs are subadvised by Jennison, an investment group within PGIM that specializes in a range of fundamental active equity and fixed income investment strategies.
“The launches further advance PGIM’s previously announced effort to organize its equity ETF lineup around core and focused investment solutions, providing investors with a clearer and more consistent framework for portfolio construction,” said Stuart Parker, head of Global Wealth, PGIM. “The ETFs are designed to serve as diversified portfolio building blocks, offering investors actively managed, core equity market exposure through fund structures that are accessible, transparent, and competitively priced.”
Under normal market conditions, the PGIM Jennison Small-Mid Cap Core Equity ETF invests at least 80% of its investable assets in equity and equity-related securities of small- and medium-capitalization companies. Jennison considers small- and medium-capitalization companies to be those with market capitalizations less than the largest market capitalization found in the Russell 2500 Index. It is listed on NYSE Arca, Inc. and offered at a 0.29% net expense ratio.
The PGIM Jennison International Core Equity ETF invests primarily in issuers that are non-U.S. companies located in countries outside of the United States or having their primary economic exposure outside of the United States, including non-U.S. issuers located in emerging markets. The ETF is listed on NYSE Arca, Inc. and offered at a 0.23% net expense ratio.
Both funds draw on the insights of Jennison’s fundamental investment team to employ disciplined, risk-managed portfolio construction frameworks that seek to balance active stock selection with portfolio risk management.
“Core equity investing is often viewed as a choice between active conviction and benchmark discipline, but the reality is that investors don’t have to sacrifice one for the other,” said Ken Moore, head of Jennison. “We draw on decades of bottom-up, fundamental research experience and a global opportunity set to identify opportunities that may be overlooked by purely index-based approaches.”
Founded in 1969, Jennison manages $213 billion in client assets1 across a range of equity and fixed income investment strategies. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions.
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