A sound investment process and strong management team underpin PGIM Jennison International Opports ETF's Morningstar Medalist Rating of Bronze. The strategy charges fees in line with its similarly distributed peers, priced within the middle quintile.  

 The strategy merits an Above Average Process Pillar rating. The strategy’s management team earns an Above Average People Pillar rating. The strategy's parent organization earns the firm an Above Average Parent Pillar rating. People, Process and Parent Pillar ratings for this strategy are indirectly assigned by a Morningstar analyst rather than algorithmically derived. Please see the notes following each pillar section for more details. The details of assigning methods can be found in each pillar section.

Analyst Rating

Ferrari

MercadoLibre

Osisko Gold Royalties

Avino Silver & Gold Mines

ASML Hld

Suncor Energy

Moelis

Nu Holdings

Saratoga Investment Corp - 6.25% NT REDEEM 31/08/2025 USD 25

Crescent Point Energy

The consistent and diligent application of the strategy’s bold growth investment approach earns an Above Average Process rating. 
This strategy’s managers are agnostic about sector and regional exposures but stick to public markets in looking for the world's most attractive and enduring growth stories. The managers look for market leaders with above-average top-line growth from both the global and international investment universes to fill to fill their 35- to 45-stock portfolios. Focused on the durability of a company's growth, they favor businesses with healthy financials; strong research-and-development capabilities; and defensible, if not dominant, franchises. 
Central to the approach is the fundamental research of the firm's talented analyst group. As sector specialists, the analysts visit companies and their executives, competitors, and suppliers and dig into balance sheets and income statements. The team has often been successful at differentiating between short-term issues it can ride out and structural challenges that will hamper a firm's long-term growth. Three additional analysts provide regional expertise, including Albert Kwok, Sara Moreno, and John Donnelly, who also manage money. Kwok focuses on Asian emerging markets—notably China—Moreno specializes in Latin American and Eastern European markets, and Donnelly the global and international small- and mid-cap universes.

Note: The Process Pillar rating and analysis are indirectly assigned by an analyst. When an analyst covers a vehicle that follows a given strategy (as codified by Morningstar’s StrategyID data point) Morningstar maps the covered vehicle’s Process Pillar to any other uncovered vehicles that follow the same strategy (that is, share the same StrategyID). This ensures that the analyst’s view is leveraged whenever available and promotes consistency when assigning Process Pillar ratings to vehicles that follow the same strategy.

Above Average

Process

Subadvisor Jennison Associates' highly capable management team and solid analytical support receives an Above Average People rating. 
Veteran comanagers Mark Baribeau and Tom Davis have a long shared history. They joined the firm in 2011 to lead its research of foreign stocks, which had not traditionally been a focus of the U.S.-oriented shop. Previously, both had established themselves as money managers, comanaging separate account Loomis Sayles Global Equity Opportunities from 2004 to 2011, posting gross annualized returns far better than the MSCI ACWI's on their watch. Baribeau and Davis have 38 and 29 years of industry experience, respectively. Firm veteran Rebecca Irwin joined Jennison’s global equity team in March 2023 as a portfolio manager alongside Baribeau and Davis. Irwin relinquished her U.S.-equity managerial duties but retained her non-US consumer-focused research responsibilities, which has made a strong contribution to the success of the global equity team’s strategies since inception. 
The managers work closely with Jennison’s deep and experienced U.S. and global equity teams, who support several well-rated strategies. Fourteen sector specialists boast considerable industry experience and tenure at Jennison. Three additional managers provide regional research expertise across emerging markets, and global and international small- and mid-cap stocks.

Note: The People Pillar rating and analysis are indirectly assigned by an analyst. When an analyst covers a vehicle that follows a given strategy (as codified by Morningstar’s StrategyID data point), Morningstar maps the covered vehicle’s People Pillar ratings to any other uncovered vehicles that follow the same strategy (that is, share the same StrategyID). This ensures that the analyst’s view is leveraged whenever available and promotes consistency when assigning People Pillar ratings to vehicles that follow the same strategy.

People

PGIM, the asset-management arm of Prudential Financial, has an attractive investment culture that has resulted in a strong lineup of funds, especially in fixed-income and growth equity. It earns an Above Average Parent rating. 
The PGIM funds are subadvised by at-scale subsidiaries of the firm that manage over USD 90 billion in assets each, mainly through Jennison Associates, PGIM Fixed Income, PGIM Quantitative Solutions, and PGIM Real Estate. The first two of these are standouts. Jennison runs the firm's actively managed fundamental equity funds with an established, repeatable investment process; PGIM Fixed Income, which includes Morningstar's Fixed-Income Fund Managers of 2017, remains well-resourced and risk-aware, while the early-2022 broadening of the leadership team has set the stage for sensible succession planning. PGIM Quantitative Solutions and PGIM Real Estate don't stand out as much but are still solid, though the former has dealt with several key management departures in recent years.
PGIM's lineup of 100-plus funds and ETFs spans the globe, but the firm’s assets are concentrated in the United States. At the end of June 2022, funds globally totaled USD 169 billion, only about 13% of PGIM's $1.3 trillion total assets under management; the rest is mostly in institutional accounts and the general account of Prudential's insurance company.

Parent

PGIM Jennison International Opportunities ETF

PJIO is an actively managed fund that provides broad exposure to global ex-US stocks of any market capitalization. The fund seeks to invest in companies in the early growth stage.

PGIM Jennison Better Future ETF

PGIM Jennison Focused Mid-Cap ETF

PGIM Short Duration High Yield ETF

PGIM, Prudential Financial's $1.2 trillion investment management arm, has launched four actively managed ETFs. According to PGIM, three of the funds invest in equities, while the fourth ETF targets fixed income.

News for PGIM Jennison International Opportunities ETF ETF (PJIO)