As the exchange traded fund industry continues to grow, traditional asset managers are also looking to expand businesses by offering their own asset management strategies in the nifty and easy-to-use ETF vehicle.
For example, PGIM Investments has entered the space with the launch of its first ETF, the PGIM Ultra Short Bond ETF (NYSE ARCA: PULS).
“The world is becoming increasingly vehicle agnostic. So our customers in the marketplace are asking for multiple vehicles. So this is just an extension for us,” Jim Devaney, Head of Sales Distribution for PGIM Investments, said at the 2018 Morningstar Investment Conference.
PULS’s risk-managed and short duration approach is designed to help investors hedge against rising rates and enhance or diversify a cash management strategy.