PGIM has today (20 Mar) launched a UCITS version of its Better Future ETF which will invest in global companies addressing social and environmental challenges.
The original ETF is up 19.5% since it was launched in late 2023, trailing 1.7 percentage points behind the MSCI All Country World benchmark.
This new version of the fund will be made up of 25 to 40 “high growth companies where the duration or magnitude of the growth is being underestimated”.
It will be managed by Mark Baribeau, who runs three other portfolios for PGIM including its $1bn Global Equity Opportunities fund. He has led the fund since 2015, delivering a total return of 318.2% over the past decade.
Baribeau will managed the fund alongside Rebecca Irwin, who has worked with him on the Global Equity Opportunities fund since March 2023.
Of their new sustainable fund, Barbeau said: “Our aim is the pursuit of healthy revenue and profit growth, in companies that are helping to create more sustainable and inclusive growth.
“The fund therefore also aligns with several United Nations’ Sustainability Development Goals and incorporates these into its analysis at all times.”
Matt Shafer, head of international distribution at PGIM, added: “We are launching the fund in response to strong demand from our international clients to continue to deliver long-term investment returns while contributing towards a more sustainable and inclusive world.
“We believe that companies which address global challenges will experience rising demand for their products and services.”