Asset manager PGIM’s new Better Future Fund will aim to invest in high growth companies where the “duration or magnitude” of their development is being underestimated. Managed by PGIM’s active equity manager, Jennison Associates, the thematic global equity portfolio will invest in firms aligned to a select group of UN Sustainable Development Goals. PGIM is the US$1.4 trillion global asset management subsidiary of American financial services provider Prudential Financial. The fund is classified as Article 8 under the EU Sustainable Finance Disclosure Regulation. The vehicle invests in companies that Jennison believes have “disruptive technologies or services” and demonstrate “dynamic new product development”. Through a bottom-up stock selection approach, the global portfolio has a concentration of 25-40 companies. “We are launching the Fund in response to strong demand from our international clients to continue to deliver long-term investment returns while contributing towards a more sustainable and inclusive world,” said Matt Shafer, Head of International Distribution at PGIM. “We believe that companies which address global challenges will experience rising demand for their products and services.”
