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PGIM Investments expands active ETF platform with launch of new high yield bond fund


PGIM Investments has launched its second actively managed exchange traded fund, the PGIM Active High Yield Bond ETF (PHYL), as it continues to expand the ETF platform created earlier this year.

“Having the benefit of scale has provided us with the flexibility to expand our platform and thoughtfully develop strategies in a variety of vehicles that meet client demand,” says Stuart Parker, president and CEO of PGIM Investments. “When it comes to ETFs, our focus is on developing competitive products that align with our core investment capabilities.”
PGIM Investments’ first ETF, the PGIM Ultra Short Bond ETF (NYSE Arca: PULS), was launched in April and has more than doubled in size, growing to USD51 million as of 31 August 2018. Just like PULS, the PGIM Active High Yield Bond ETF (PHYL) is also actively managed by sub-adviser PGIM Fixed Income and is attractively priced. PHYL is priced at 0.53 per cent, 14 basis points below the average active high yield ETF, according to Morningstar as of 31 August, 2018. The Fund invests primarily in high yield bonds and seeks to generate total return through a combination of current income and capital appreciation.
“We see a lot of opportunity for an experienced active manager with a core capability in high yield bond investing,” says Parker. “Our investors couldn’t be in more capable hands – our portfolio management team has the experience, credit research, and risk management capabilities critical to investing in this sector.”

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