plans to rebrand his $80 billion shop.
| Stuart Parker|
Effective April 3, Prudential Investments
will change its name to PGIM Investments
, though the names of its mutual funds will stay the same.
The move will align the company's brand more closely with its parent company, PGIM
, and standardize Prudential Investments' brand globally — outside the U.S., the firm's UCITS platform already operates under the PGIM Investments brand.
"We wanted to bring the domestic and international businesses under one brand to help build out that global brand reputation," Scott Benjamin
, EVP and head of product development, product management, and marketing at Prudential Investments, tells MFWire
The move comes after similar initiatives across PGIM, the asset management arm of the insurance company Prudential Financial. In January 2016, Prudential Investment Management rebranded to PGIM; in May 2016, Prudential Real Estate Investors rebranded to PGIM Real Estate
; and in January 2017, Prudential Fixed Income rebranded to PGIM Fixed Income
Benjamin says he's already engaging with distributors to make them aware of the rebrand. To get the message out to the rest of the industry, he's launching both print and digital ad campaigns. PGIM Investments will also serve as the principal sponsor of the Morningstar Investment Conference
in Chicago at the end of April.
"We'll be very present," says Benjamin.
Cabs within a certain radius of the conference site will even play videos advertising the new PGIM Investments brand.
As of December 31, Prudential Investments has 70 funds and $82 billion in assets under management. PGIM has $1 trillion in assets.
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