Prudential's PGIM Is Exploring Entering ETF MarketplaceBy and
Move would expand insurer’s $1 trillion asset-management arm
Firm is said to weigh how to package quant, active strategies
Prudential Financial Inc. is looking to get into the $3.1 trillion market for exchange-traded funds, according to a person familiar with the matter.
PGIM Investments, part of the firm’s $1 trillion asset-management unit, is exploring steps to build an ETF business in the U.S. after gaining regulatory approval to start some funds, the person said, asking not to be identified because the decision hasn’t been made public. The company is evaluating ways to package both its quantitative and active strategies into ETFs, the person said.