US
Prudential’s PGIM enters ETF marketplace
PGIM has rolled out one of the cheapest actively managed fixed-income ETFs in the world in the trending ultrashort bond space. The PGIM Ultra Short Bond ETF (PULS) will invest in investment grade US-dollar short-term fixed, variable and floating rate debt instruments.
Under normal market conditions, PULS will invest at least 80% in bonds, the prospectus indicates. And while the fund can invest in bonds of any duration, it will “seek to maintain a weighted average portfolio duration of one year or less,” and a maturity of three years. However it is under no binding obligation to always do this and bond maturities “may be longer at any time,” the prospectus says.
PULS will use a combination of in-house research and modeling together with ratings agencies verdicts to manage risk.
Germany
BNP makes it easy
BNP is widening out its range of Easy ETFs, listing two new funds in Germany. They are:
ZSRI tracks the performance of the MSCI Europe SRI index, which screens the parent index, MSCI Europe on SRI criteria.
JSRI does something similar but for the MSCI Japan index.
Cross-listings
London
Xtrackers cross list US sectoral ETFs
Deutsche Bank is cross-listing its Germany-listed US sector ETFs over to the London Stock Exchange in pounds. They are:
PowerShares is cross-listing its preferred shares ETF into Italy, Switzerland and Germany
PowerShares Preferred Shares UCITS ETF (PRFE, PRFC, PDSE)
Xtrackers is cross-listing several of their products into Italy
In Germany, BlackRock is cross-listings its world small cap fund…
iShares MSCI World Small Cap UCITS ETF (IUSN)
Amundi is cross-listing a wide array of ETFs in Switzerland in euros. They are: