l this year, PGIM has expanded its ETF platform following the release of its second ETF today. The PGIM Active High Yield Bond ETF (PHYL) will be managed by the PGIM fixed income team who also manage the highly rated PGIM high yield fund.
Investing in government and corporate debt issued by the US and non-US bodies, PHYL has a 0.53 per cent TER.
The structure of portfolio will include up to 25 per cent invested in derivatives and up to 20 per cent invested in debt denominated in non-US currencies.
Having launched the first of the ETF range 5 months ago, PULS has grown to $51mn, as of August 2018. Stuart Parker, CEO of PGIM Investments said: "Having the benefit of scale has provided us the flexibility to expand our platform and thoughtfully develop strategies in a variety of vehicles that meet client demand". Parker continues to say: "When it comes to ETFs, our focus is on developing competitive products that align with our core investment capabilities."