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PGIM Fixed Income appoints new head of municipal bond team

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PGIM Fixed Income, a global asset manager offering active solutions across all fixed income markets, has appointed Jason Appleson as head of Municipal Bonds effective 1 January, 2022 upon the retirement of long-time head of Municipal Bonds Susan Courtney.

Appleson joins the firm on 1 November, 2021, having most recently served as portfolio manager for PT Asset Management’s Morningstar five-star rated Performance Trust Municipal Bond Fund (ticker: PTIMX) with USD891 million in assets. In this role, Appleson led the portfolio construction, management, trading, and research for the fund. Prior to PT Asset Management he spent time at the Federal Reserve Bank of New York as a credit risk associate, as well as AllianceBernstein as an analyst supporting the firm’s USD30 billion municipal fund complex.

“Jason brings strong capabilities in municipal bond portfolio management and relative value analysis, as well as proven investment leadership to our municipal bond team. With continued strong flows into the municipal category, Jason’s expertise will prove immediately valuable to our clients who look to municipal bonds as a key part of their fixed income portfolio,” says Richard Greenwood, head of Credit for PGIM Fixed Income.

PGIM Fixed Income currently manages more than USD31 billion in municipal assets. As head of the municipal bond team Appleson will report to Greenwood and be responsible for developing, directing and executing investment strategy for all tax-exempt municipal bond assets, including the municipal bond mutual funds.

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