PGIM has added ESG criteria to four of its fixed income strategies.
The PGIM US BB-B High Yield Bond, Emerging Market Corporate Bond, European BB-B High Yield Bond and European Corporate Bond funds will now fully incorporate ESG principles within their investment objectives.
The PGIM Emerging Market Corporate Bond Fund is now the PGIM Emerging Market Corporate ESG Bond Fund, while the PGIM European Corporate Bond Fund is the PGIM European Corporate ESG Bond Fund. The PGIM US BB-B High Yield Bond Fund is now the PGIM Global High Yield ESG Bond Fund and the PGIM European BB-B High Yield Bond Fund is renamed the PGIM European High Yield ESG Bond Fund.
Kimberly LaPointe, head of PGIM Investments International, commented: “Through our conversations with clients, it is clear ESG considerations have become central in the decision-making processes of most asset allocators. The repositioning of these four fixed income strategies leverages our existing integrated approach to ESG investing whilst adding ESG to the investment objectives and therefore catering to the growing demand from sustainability-minded investors.”