PGIM Investments, the manufacturing and fund distribution arm of the USD1.4 trillion global investment manager PGIM, is to join the UK’s Investment Association (IA). As a member of the IA, 22 of PGIM Investments’ specialist UCITS funds have entered the IA sectors. These strategies are managed by PGIM’s highly regarded autonomous asset management businesses: PGIM Fixed Income, Jennison Associates, PGIM Real Estate and QMA.
PGIM Investments, which has a long association of working with the world’s leading trade bodies, has continued to expand its UK footprint in recent years. As a skilled provider of alpha-generating investment strategies, PGIM Investments has witnessed its UCITS platform grow from USD5 billion assets under management (AUM) at the start of 2020 to over USD8 billion AUM as of 31 October 2020.
Kimberly LaPointe, head of PGIM Investments International, says: “The European market remains central to the expansion of our business globally and we have been investing in our operating infrastructure, including enhancing visibility for the PGIM Funds to the cross-border funds industry. We continue our commitment to bringing PGIM investment solutions to European clients, with 29 UCITS funds now registered in 18 countries across the continent and the strategic hiring of talent across our seven European office locations to strengthen existing client relationships while also broadening our client footprint.”
The PGIM Jennison Global Equity Opportunities Fund, managed by Mark Baribeau, Jennison Associates’ head of Global Equity, has been particularly popular with the UK intermediary market. Baribeau and his team believe the disruptive companies challenging traditional industries before the COVID-19 crisis are likely to emerge as the long-term growth leaders of tomorrow.
Charlie Wilson, head of European accounts at PGIM Investments, says: “We have made significant inroads into the highly competitive UK marketplace in recent years—as our range of specialist fixed income, equity and real estate offerings increasingly appeal to UK intermediaries. The inclusion of our funds in the IA universe is another step forward in boosting the recognition of our suite of UCITS strategies for UK fund selectors.
“In addition, we look forward to working closely with our IA member peers in the continued development of our industry and to shine the spotlight further on the merits of active management, which has consistently demonstrated its value through the COVID-19 market turbulence.”
