PGIM Investments launches global corporate ESG bond fund

First in suite of ESG funds for UK investors

PGIM Investments has launched a global corporate ESG fund, which will be “the first of a newly-created suite” of PGIM Fixed Income’s ESG UCITS strategies available to investors outside of the US.

The PGIM Global Corporate ESG Bond fund, which was seeded with $25m of assets under management and is headed up by PGIM Fixed Income's Edward Farley, will be benchmarked against the Bloomberg Barclays Global Aggregate Corporate Total Return index. However, it will incorporate PGIM Fixed Income's own ESG rating framework as an overlay, which assigns a rating to every issuer. The ratings are devised by a team of 110 analysts and are overseen by the firm's ESG committee. Oyster range bolstered with fixed income launch Within this framework, the fund will invest in a combination of inv...