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PGIM launches two Buffer ETF series
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0 KommentarePGIM,1 the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has launched two buffer ETF series, the PGIM U.S. Large-Cap Buffer 12 ETF series and the PGIM U.S. Large-Cap Buffer 20 ETF series (“the ETFs”), listed on the Cboe BZX. The series will consist of a total of 24 ETFs, with 12% and 20% buffer ETFs launching on a rolling basis the first business day of each month throughout the year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240102680094/en/
Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire)
The ETFs will be offered at a 0.50% net expense ratio, making them the lowest cost one-year target outcome buffer ETFs in the marketplace.2
The Buffer ETFs provide exposure to an ETF that seeks to track the performance of the S&P 500 Index (“the Underlying Fund”), offering investors a defined range of potential outcomes. The ETFs seek to match the return of the underlying fund up to a predetermined upside cap, while providing a limited downside buffer against the first 12% (for the PGIM U.S. Large-Cap Buffer 12 ETF series) or 20% (for the PGIM U.S. Large-Cap Buffer 20 ETF series) of the underlying fund’s losses over a one-year target outcome period. 3
“In times of market uncertainty, our clients are looking for ways to participate in the market’s upside, while tempering downside risks,” said Stuart Parker, president and CEO of PGIM Investments. “Buffer ETFs provide investors with a more narrowly defined outcome range, which can offer more predictability in volatile markets.”
The Buffer ETFs are subadvised by PGIM Quantitative Solutions (PGIM Quant), the quantitative equity, multi-asset and liquid alternatives specialist of PGIM.
“PGIM Quant has been managing options trading strategies for institutional investors for more than 30 years,” said Linda Gibson, CEO of PGIM Quantitative Solutions. “The Buffer ETF series represents yet another enhancement to our suite of offerings for clients who are looking for meaningful upside access while helping to mitigate risk.”
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With the launch of the initial Buffer ETFs, PGIM Investments now offers 16 active ETFs, doubling its lineup over the last year.
ABOUT PGIM INVESTMENTS
PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on
PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.
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