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Pramerica Investment Management rebrands as PGIM

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Pramerica Investment Management, the investment management business of US-headquartered Prudential Financial, is to change its name to PGIM.

The change, effective 4 January 2016, coincides with the expansion of Pramerica Investment Management’s businesses around the world.
 
Pramerica Investment Management’s businesses operate in 16 countries on five continents and offer a range of products across asset classes, including public and private fixed income, real estate debt and equity, and fundamental and quantitative public equities. The business operates through a unique multi-manager model, with each asset class managed by a dedicated leadership team, responsible for investment and business performance, while adhering to the same global standards for controls, risk management and compliance.
 
Overall, the company is expanding its range of multi-asset solutions to address growing demand, especially among global clients, for strategies that help them balance long-term risk and return objectives across diversified portfolios. As one example of the commitment to expand, Prudential Investment Management is establishing PGIM Funds plc, a UCITS platform serving the UK and Europe (Undertakings for Collective Investments in Transferable Securities). The platform enables Pramerica Investment Management’s businesses to build beyond existing fixed income UCITS to include a range of funds across asset classes offered to both institutional and individual investors.
 
“Our clients expect investment managers to simultaneously find the best investment opportunities around the world, while upholding the most rigorous standards of risk management," says CEO David Hunt (pictured). “The PGIM name represents our scale and our conviction to deliver time-tested, long-term solutions and outcomes for institutional and retail investors.”
 
Several businesses will adopt the new name. Pramerica Fixed Income will use PGIM in markets outside of the United States where it currently uses the Pramerica name, beginning in January, Pricoa Mortgage Capital Company will be renamed PGIM Real Estate Finance globally in mid-2016, and Pramerica Real Estate Investors will be renamed PGIM Real Estate globally in mid-2016.
 
The new identity also extends to Pramerica Investment Management’s new headquarters – a state-of-the-art, 20-story building in Newark, NJ, just two blocks from PFI’s global corporate headquarters and around the corner from where the company was founded 140 years ago.

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