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PGIM Fixed Income

PRI reporting framework 2020

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

Hedge fund classifications: Fixed Income - Arbitrage (Global & U.S. Liquidity Relative Value funds); Fixed Income Emerging Markets Long/Short.

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company has investment staff in Newark, New Jersey, London, Tokyo and Singapore. As of December 31, 2019, the firm has $851 billion of assets under management including $365 billion in institutional assets, $159 billion in retail assets, and $327 billion in proprietary assets. More than 500 institutional asset owners have entrusted PGIM Fixed Income with their assets.

PGIM Fixed Income is a United States business operating as a unit within PGIM, Inc. ("PGIM"). PGIM is the largest investment adviser within Prudential Financial, Inc. ("PFI"). As of December 31, 2019, PGIM had $1.3 trillion in assets under management across their real estate, equity, public fixed income, and private fixed income businesses.

We believe that the supportive parental ownership structure, and our large globally diversified business model, provides long-term stability, asset scale benefits, robust financial status and deep resources, all of which are aligned to our clients' long-term objectives. 

*Prudential Financial, Inc. (PFI) of the United States is not affiliated with Prudential plc which is headquartered in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc,incorporated in the United Kingdom.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

906 FTE

02.4. Additional information. [Optional]

Information as of December 31, 2019.

Average firm tenure for portfolio managers and research analysts are 20 and 14 years respectively. Firm wide turnover is <4%. We beileve our organisational culture is key to this. 

We maintain a collegial and supportive organisational culture that rewards individual initiative but also places emphasis on team contribution. Investment professionals are not only expected to develop strong investment insights in their areas of expertise, but also to actively share them for the greater good of the overall organisation. 

Significant support and responsibility is provided to high potential individuals with technical and leadership skills, who are given increasingly challenging assignments in key areas. The firm’s scale provide significant staff development opportunities.

Also key to staff retention is our superior market position, attractive compensation, enabling investment process supported by proprietary research techniques and quantitative modelling, and varied career opportunities.  With seniority, the variable performance related component of compensation increases which provides further motivation and alignment.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

While not subsidiaries of PGIM Fixed Income, Quantitative Management Associates LLC and PGIM Real Estate are separate business units under the PGIM umbrella and are also signatories to the PRI.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

Assets as of December 31, 2019. Source: PGIM Fixed Income. Assets under management (AUM) are based on company estimates and are subject to change. PGIM Fixed Income’s AUM includes the following businesses: (i) the PGIM Fixed income unit within PGIM, Inc, located in the USA; (ii) the public fixed income unit within PGIM Limited, located in London; (iii) PGIM Netherlands B.V. located in Amsterdam; (iv) locally managed assets of PGIM Japan Co., Ltd. (“PGIM Japan”), located in Tokyo; and (iv) the public fixed income unit within PGIM (Singapore) Pte. Ltd., located in Singapore. Asset class breakdown based on company estimates and is subject to change. 1Other includes Japanese equities and Japanese real estate equities.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income >50% 100 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

Assets as of December 31, 2019. Source: PGIM Fixed Income. Assets under management (AUM) are based on company estimates and are subject to change. PGIM Fixed Income’s AUM includes the following businesses: (i) the PGIM Fixed income unit within PGIM, Inc, located in the USA; (ii) the public fixed income unit within PGIM Limited, located in London; (iii) PGIM Netherlands B.V. located in Amsterdam; (iv) locally managed assets of PGIM Japan Co., Ltd. (“PGIM Japan”), located in Tokyo; and (iv) the public fixed income unit within PGIM (Singapore) Pte. Ltd., located in Singapore. Asset class breakdown based on company estimates and is subject to change. 1Other includes Japanese equities and Japanese real estate equities.


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

92 Developed Markets
8 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

As of December 31, 2019.


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