US asset manager PGIM, the US$1.38 trillion subsidiary of insurer Prudential Financial, has enhanced its equities offering with the launch of the PGIM Jennison Better Future Fund.

Managed by PGIM’s active equity manager, Jennison Associates, this thematic global equity portfolio, PGIM says, seeks to invest in high-growth companies where the duration or magnitude of the growth is being underestimated and which align to a select group of UN Sustainable Development Goals.

The fund invests in companies that Jennison believes have disruptive technologies or services and exhibit dynamic new product development, and whose market opportunity is expanding.

Through a bottom-up stock selection approach, the portfolio has a concentration of 25 to 40 companies, with no maximum or minimum limit on country or sector weights. While the fund is benchmark-agnostic, its performance is benchmarked against the MSCI All Country World Index.

The investment team is led by Jennison’s Mark Baribeau, head of global equity, and Rebecca Irwin, portfolio manager and equity analyst. The portfolio management team averages nearly 20 years of experience at Jennison and is supported by its global growth sector analysts and sustainability research team.

“The Better Future Fund is a natural extension of the Jennison Global Equity team’s long-term record of successfully investing in global growth companies,” Baribeau notes. “Our aim is the pursuit of healthy revenue and profit growth, in companies that are helping to create more sustainable and inclusive growth.”

Matt Shafer, PGIM Investments’ head of international distribution, adds: “We are launching the fund in response to strong demand from our international clients to continue to deliver long-term investment returns while contributing towards a more sustainable and inclusive world.”