PGIM Investments has launched three actively managed ETFs — the PGIM Jennison Focused Growth ETF (PJFG), the PGIM Jennison Focused Value ETF (PJFV) and the PGIM Portfolio Ballast ETF (PBL). With these launches, PGIM Investments expands its lineup of active ETFs to eight funds. The newfunds complement PGIM Investments' existing suite of actively managed fixed income ETFs.

The PGIM Jennison funds are fully transparent ETFs with concentrated, high-conviction portfolios. Jennison's equityinvestment approach is rooted in deep, fundamental research and bottom-up security selection. Both funds' investment strategies are substantially similar to those of their respective mutual fund and institutional strategy counterparts.

The PGIM Jennison Focused Growth ETF (PJFG) seeks to provide long-term growth of capital by investing in a focused portfolio of primarily mid- and large-capitalizationstocks believed to have strong capital appreciation potential. The Fund's investment team believes that excess returns can be generated by investing in market-leading companies that create economic value through unique business models, long-duration competitive advantages and catalysts that drive growth rates well above that of the market. The PGIM Jennison Focused Value ETF (PJFV) seeks to provide long-term growth of capital by investing in a focused portfolio of predominantly large-capitalization companies believed to be undervalued compared to their perceived worth.

The Fund's investment team looks for companies that have one or more of the following characteristics: attractive valuation metrics that are unique to that business, high levels of durability and viability of the business, good business models that are being mispriced, high returns on assets and/or equity, high free cash flow yields, management teams that are willing to make changes, and/or something operationally wrong that can be fixed or is temporary. ThePGIM Portfolio Ballast ETF (PBL), seeks to provide long-term capital growth with reduced volatility compared to the equity market. PBL's long-term goal is to capture 60% of the performance of the S&P 500 on average in appreciating equity markets, and to capture 30% of the performance of the S&P 500 on average in declining equity markets over a market cycle.

Like ballast on a ship providing critical stability amid rough waters, the PGIM Portfolio Ballast ETF offers what may be an attractive and uniquely diversifying solution in the face of uncertain and turbulent markets.