Prudential Investments announced it will change its name to PGIM Investments, effective Monday, April 3, although the names and ticker symbols for the company’s mutual funds will remain the same.
With $82 billion in assets under management as of Dec. 31, 2016, the company ranked among the top five fastest organically growing mutual fund families over the last eight years, according to SimFund.
The name change more closely aligns Prudential Investments with PGIM, the 9th largest global asset manager, according to a Pensions & Investments May 2016 survey.
And because the company already operates as PGIM Investments outside the U.S. with its UCITS platform, the change allows the firm to adopt a single name, globally.
It also follows the recent rebranding efforts to PGIM in January 2016, Prudential Real Estate Investors to PGIM Real Estate in May 2016, and Prudential Fixed Income to PGIM Fixed Income in January 2017.
“The change to PGIM Investments showcases our ability and commitment to delivering actively managed investment solutions to our global clients through the deep expertise of our multi-manager model,” said Stuart Parker, president of Prudential Investments.