US giant PGIM looks to spread its wings in Europe

Added 15th June 2017

PGIM Investments, the asset management arm of US insurer Prudential Financial, has registered a range of Ucits funds for sale in five new markets.

US giant PGIM looks to spread its wings in Europe

The firm has set its sights on a raft of new European markest with investors in France, Italy, Luxembourg and Spain now able to access eight of PGIM's Ucits funds, which are already available in nine other countries. 

The firm said it had also registered the eight funds for sale in Singapore.

The firm's Dublin-based platform used for international sales, which hosts the eight funds, has accumulated $2.1bn in assets as of 31 March 2017.

The Ucits business, launched back in 2013, includes a total of 24 funds, clones of PGIM’s American strategies, including the PGIM US Corporate Bond fund, a growth fund run by PGIM affiliate Jennison Associates.

The PGIM European High Yield Bond Fund is the exception to the rule and was created based on local demand for said product.

All 24 of the Dublin-domiciled funds are available to UK investors.

PGIM employs more than 1,100 investment professionals and claims to be a top-10 institutional money manager in the US. 

PGIM President and CEO Stuart Parker, who sits in the firm’s Newark New Jersey headquarters, said the funds were selected because they were “resonating with financial buyers globally.”

Parker sees the group as one and a half years into a five-year journey of organic growth and expansion, which includes further penetration into the European market.

From an asset management perspective, Europe and the UK are both "incredible marketplaces," said Parker.

"We are not in a position to say we are either definitely staying or definitely going.

"But I personally cannot imagine us not wanting to have a presence in the UK, in terms of our coverage of this marketplace," he continued.

"We think in very long-term periods, it’s not about what might happen in the next three to five years. My guess is the UK economy will be just fine."

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

Features

How should investors respond to ECB tapering?

How should investors respond to ECB tapering?

The improving economic outlook in the euro area has prompted the European Central Bank to consider reining in its monetary stimulus. How should investors respond to the prospect...

Interviews

Fund manager transparency is vital, says Marta Campello

Fund manager transparency is vital, says Marta Campello

Above everything else, Marta Campello of the Spanish wealth manager Abante Asesores wants fund managers to be transparent. And if they are, that could make the difference...

About Author

Kristen McGachey

Senior Reporter

Kristen joined Last Word Media and the world of financial journalism in April 2016, leaving behind a career in a legal publishing firm as a senior researcher turned assistant editor.

This native Angelino initially moved to the UK in 2008 to complete her undergraduate studies at the University of Nottingham. She subsequently obtained a Masters degree in Philosophy with Literature from the University of Warwick.

Top Stories

Inflows stall across emerging market funds in first for 2017

Inflows stall across emerging market funds in first for 2017

Emerging Market equity and bond funds ended their longest inflow streaks since 2013 during the second week of August as investors took some of their year-to-date gains off the table.

UK only region where dividend payments fell in Q2
UK only region where dividend payments fell in Q2

The UK was the only region in the world to see dividends fall in Q2 according to the latest...

Robots, drugs and fees: The key trends that have shaped ETFs
Robots, drugs and fees: The key trends that have shaped ETFs

The last 10 years have seen ETF products grow from pre-teens to fully fledged adults, even...

News

Trump’s ‘fire and fury’ threat wipes $1trn from global markets

Trump’s ‘fire and fury’ threat wipes $1trn from global markets

The drastic fall across global markets following president Donald Trump’s threats...

Published : 17, Aug 2017

IMF warns of 'dangerous' trajectory for Chinese debt

IMF warns of 'dangerous' trajectory for Chinese debt

China’s growth outlook is expected to improve between 2017 and 2021, but the country’s...

Published : 17, Aug 2017

UK gilt funds shine in FE’s passive crown ratings

UK gilt funds shine in FE’s passive crown ratings

More than half of passive UK gilt funds have been awarded FE’s top accolade for their...

Published : 16, Aug 2017

 Could today's India outshine yesterday's China?

Could today's India outshine yesterday's China?

Though it might be tempting to view today’s India as yesterday’s China, Rathbones’...

Published : 16, Aug 2017

Equity bull market not dead yet, says Charles Stanley

Equity bull market not dead yet, says Charles Stanley

The global equity bull market has further to run, despite industry concern it has...

Published : 15, Aug 2017

Events

Expert Investor The Madrid Investment Club 2017
Expert Investor The Madrid Investment Club 2017

Monday 25 & Tuesday 26 September
Melia Hotel, Valencia

Expert Investor Italy 2017
Expert Investor Italy 2017

Tuesday 3rd October 

Hotel Principe di Savoia, Milan

Expert Investor Sweden - Equity 2017
Expert Investor Sweden - Equity 2017

Wednesday 11 October
Grand Hotel, Stockholm

Expert Investor Alternative UCITS 2017
Expert Investor Alternative UCITS 2017

Thursday 19 & Friday 20 October
Grand Hotel Huis ter Duin, Noordwijk

OTHER STORIES FROM LAST WORD...