Prudential Financial fund company PGIM Investments on Wednesday announced that it had added an actively managed ESG bond fund to its product line.
The PGIM ESG Short Duration Multi-Sector Bond Fund is the third mutual fund offered by the company. The fund “seeks total return, investing across various fixed income securities and emphasizing issuers with stronger ESG characteristics and practices than traditional multi-sector portfolios,” the company said in an announcement. “The fund normally seeks to maintain an average portfolio duration of three years or less.”
Overseeing the fund are PGIM fixed income portfolio managers Gregory Peters, Robert Tipp, Michael Collins, Richard Piccirillo and Lindsay Rosner.
The fund uses an exclusionary screen as well as PGIM’s impact rating methodology to build a portfolio, according to the company.
