Product & Service Launches

PGIM Launches 2 Core Equity ETFs

PGIM, the asset management business of Prudential Financial Inc., launched two core equity exchange-traded funds: the PGIM Jennison Small-Mid Cap Core ETF (PJSM) and the PGIM Jennison International Core ETF (PJIN). Both ETFs are sub-advised by Jennison Associates, an investment group within PGIM that specializes in fundamental equity and fixed-income investment strategies.

PJSM invests at least 80% of its investable assets in equity and equity-related securities of small- and medium-capitalization companies. Jennison considers small- and medium-cap companies to be those with market capitalizations less than the largest market capitalization found in the Russell 2500 Index. The ETF is listed on the NYSE Arca Inc. and is offered at a 0.29% net expense ratio.

The PJIN invests primarily in issuers that are non-U.S. companies located in countries outside of the U.S. or having their primary economic exposure outside of the U.S., including non-U.S. issuers located in emerging markets. The ETF is also listed on the NYSE Arca and is offered at a 0.23% net expense ratio.

BambooHR, Human Interest Partner On Embedded Plan Offering

Bamboo HR LLC, a human resources platform for small and midsize businesses, partnered with recordkeeper and administrative fiduciary company Human Interest Inc. to launch the BambooHR 401(k), a retirement plan offering embedded directly into the BambooHR platform.

The plan allows BambooHR customers to learn about their plan options and connect with Human Interest’s guided plan selection service. Once a plan is purchased, payroll data syncs automatically between the two platforms.

Key features of the integration include automated plan administration, compliance support, dedicated rollover support and custom plan design.