Bank Loans

Actively managed, research-driven strategy targeting an excess return over a leveraged loan index or similar benchmark. Strategy seeks to generate excess return through industry and security selection, with heavy emphasis on default avoidance. Opportunities are sourced from both primary and secondary markets. Strategy can be managed in a U.S., European or Global mandate.

High Yield

Highly diversified, research-driven strategy targeting an excess return over a broad market High Yield Bond Index or similar benchmark. Strategy emphasises the "higher quality" segment of the high yield market—BB and B rated corporate bonds—with heavy emphasis on default avoidance. Strategy seeks to generate two-thirds of its excess return from individual security selection and one-third from industry allocation. This strategy can be managed in a U.S., European, or Global mandate. This strategy can also be managed in a broad market mandate with greater allocation to CCC rated bonds in addition to BB and B rated bonds.

CLOs

CLO management is an important business of PGIM Fixed Income and a natural outgrowth of our expertise in global credit and in structured transactions. We have experience managing CLO assets across a broad range of sectors, including US and European bank loans, high yield bonds, investment grade corporate bonds, and asset-backed securities, and within both cash and synthetic structures.

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