PGIM Announces Strategic Enhancements to Equity ETF Platform

PGIM, the $1.4 trillion¹ global investment management business of Prudential Financial, Inc. , announced a series of enhancements to its Jennison equity exchange-traded fund (ETF) lineup.

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These initiatives are intended to create a more streamlined and consistent equity ETF platform, enhancing access to Jennison’s fundamental, research-driven investment capabilities across market segments and further aligning the lineup with evolving investor demand.

The platform enhancements include:

• The merger of the PGIM Jennison Focused Value Fund (PJGZX) into the PGIM Jennison Focused Value ETF (PJFV). In conjunction with the merger, PJFV will undergo an expense ratio reduction from 0.75% to 0.33% on or about July 1, 2026. The merger is expected to become effective on or about Nov. 13, 2026, at which time PJGZX will be reorganized into PJFV, after which PJGZX will be liquidated and its remaining assets distributed to shareholders.
• The renaming and repositioning of the PGIM Jennison International Opportunities ETF (PJIO) as the PGIM Jennison Focused International Equity ETF (PJIO), together with an expense ratio reduction from 0.90% to 0.54%. The changes will go into effect on or about Aug. 1, 2026.
• The closure and liquidation of the PGIM Jennison Better Future ETF (PJBF). The final day for creations or redemptions by authorized participants will be on or about July 13, 2026, and the last day of trading will be on or about July 14, 2026. PJBF is expected to cease operations on or about July 17, 2026, at which time the fund will be liquidated and its remaining assets distributed to shareholders.

“Investors and advisors are increasingly looking for actively managed ETFs that are low-cost, clearly defined, and easy to implement across portfolios,” said Stuart Parker, head of Global Wealth, PGIM. “These enhancements reflect our commitment to meeting that demand by delivering a competitively priced and comprehensive ETF platform.”

These efforts come after the recent launch of the PGIM Jennison U.S. Core Equity ETF (PJUS). The ~100-stock core portfolio is informed by Jennison’s fundamental, bottom-up investment approach, which emphasizes in-depth research and security selection while maintaining disciplined control of factor and risk exposures.

Overall, the platform enhancements will result in a streamlined equity ETF lineup that’s organized around two distinct investment styles: core and focused. Core strategies are designed to provide diversified core equity market exposure, while focused strategies will offer complementary higher-conviction portfolios in each market segment.

“For more than five decades, Jennison has been built on the conviction that rigorous, bottom-up fundamental research is the foundation of long-term outperformance,” said Ken Moore, head of Jennison. “By streamlining and expanding our ETF lineup, we are making Jennison’s research-driven investment capabilities more accessible to a broader set of investors.”

PGIM’s ETF platform offers over 60 actively managed ETFs across equity and fixed income asset classes. PGIM is the 11th-largest active ETF provider² with $27 billion in assets under management.¹

Founded in 1969, Jennison manages $190 billion in client assets across a range of equity and fixed income investment strategies.¹ Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions.

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