Suite of three Funds seeks to help U.S. workers manage their long-term investments with spending flexibility in mind
PGIM, 1 the $1.3 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), has launched three retirement spending funds: the PGIM Conservative Retirement Spending Fund , PGIM Moderate Retirement Spending Fund and the PGIM Enhanced Retirement Spending Fund . The Funds are designed for investors near or in retirement and aim to help U.S. workers better manage their long-term investments based on their personal spending goals, taking essential and flexible spending into account.
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Jeremy Stempien, Portfolio Manager and Strategist, PGIM DC Solutions (Photo: Business Wire)
The suite of Funds seeks to strike a unique balance between growth and conservation of capital with consideration for the specific risks faced by retirees. The Funds, subadvised by PGIM DC Solutions, are each “fund of funds” investing primarily in a range of fixed income, equity, real asset and alternative mutual funds and ETFs.
“An individual’s investment needs and spending goals at or near retirement are entirely unique to their circumstances. The PGIM Retirement Spending Funds offer three distinct portfolios to address these differences, providing a more personalized approach and thoughtful asset allocation mix to help meet varying income needs,” said Jeremy Stempien, co-portfolio manager of the PGIM Retirement Spending Funds and the PGIM Target Date Funds.
For more information on the Funds, visit the fund detail pages:
PGIM Conservative Retirement Spending Fund
PGIM Moderate Retirement Spending Fund
PGIM Enhanced Retirement Spending Fund
ABOUT PGIM DC SOLUTIONS
As the retirement solutions provider of PGIM, PGIM DC Solutions LLC seeks to deliver innovative defined contribution solutions founded on market leading research and capabilities. Our highly experienced team partners with clients on customized solutions to solve for retirement income. PGIM DC Solutions aims to help investors achieve their retirement goals through their suite of PGIM RetireWell™ Solutions , which includes target date portfolios, retirement income strategies and financial wellness resources.
ABOUT PGIM INVESTMENTS
PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives, and real estate.
ABOUT PGIM
PGIM , the global asset management business of Prudential Financial, Inc. ( NYSE: PRU ), is a global investment manager with $1.3 trillion in assets under management as of Dec. 31, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com .
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com .
1 The term PGIM as used in this announcement includes PGIM Investments LLC and PGIM DC Solutions LLC, both of which are affiliates of PGIM, Inc., an indirect, wholly owned subsidiary of Prudential Financial, Inc.
PGIM DC Solutions aims to help participants achieve their retirement goals through their suite of “PGIM RetireWell™” solutions. These solutions may include a range of investment options including target date portfolios, retirement income strategies, and managed accounts that can be coupled with our proprietary advice engine. There is no guarantee that investment or retirement goals will be achieved. Use of the term “RetireWell” and any related phrase is not intended to indicate that such goals will be achieved.
Risks—Risks of investing in the funds include but are not limited to the following: Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. As a “fund of funds”, the funds are subject to the performance and risks of the underlying funds and their investments. Small- and mid-cap investments may be subject to more erratic market movements than large-cap stocks. Mortgage-backed and asset-backed securities tend to increase in value less than other debt securities when interest rates decline but are subject to a similar risk of decline in market value during periods of rising interest rates. Investing in real estate poses certain risks related to overall and specific economic conditions as well as risks related to individual property, credit and interest rate fluctuations. Asset allocations to underperforming or volatile asset classes or other changes in asset allocations could lead to increased volatility in the Fund’s portfolio. The Funds’ manager serves as the manager of the underlying affiliated funds, and a conflict of interest could affect how the manager and subadvisors fulfill their fiduciary duties to the Fund and the underlying funds. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about each fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to all PGIM U.S. open-end investment companies. PGIM DC Solutions is a registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. All are Prudential Financial affiliates.© 2024 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM DC Solutions, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Investment Products: Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact a financial professional.
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kylie.scott@pgim.com