PGIM is the primary asset management business of US-based Prudential Financial Inc, managing over US$1.5tn of AUM globally across active fixed income, equities, multi-asset and private markets solutions, of which about US$1tn are fixed income focused.
Waystone is a global asset-servicing solutions provider formed in 2021 from the merger between DMS, Montlake and MDO. Waystone provides the administration management and servicing platform for this fund.
The PGIM Global AAA CLO Fund is an actively managed bond strategy seeking to outperform the ICE BofA US 3-Month Treasury Bill Index over a full market cycle on a total return basis, by investing primarily in a portfolio of senior tranches of US and European collateralised loan obligations (CLOs) with >80% in AAA credit rating and the rest in AA credit rating. The investment process combines loan-level qualitative and quantitative credit research with due diligence on both the CLO collateral manager and the CLO structure to arrive at investment decisions. Proprietary statistical models are also employed to quantitatively identify value amongst prospective investments. The fund has a portfolio of >110 holdings from >45 collateral managers.
Performance
Price Performance – Maximum Period
The FairHorizon Context
Investment-Time-Horizon in years
0 - 22 - 44 - 77 - 1010 - 1515+
Expected long-term return
2 – 4% p.a.
Expected volatility
3 – 5% p.a.
Building Block Returns
Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund
Ann. return (3-year):
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Ann. return (5-year):
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Ann. return (10-year):
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Ann. Standard Deviation (5-year):
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This fund provides access to a diversified portfolio of senior tranches of collateralised loan obligations (CLOs) that is an asset class with attractive yield pick-up vs comparable investment grade corporates and other types of asset-backed securities (ABS), low interest rate sensitivity due to its floating rate nature, and low correlation to traditional fixed income.
Benchmark Returns
Vanguard Investment Series PLC - Global Short Term Bond Index Fund
The Dimensional World Allocation 20/80 Fund is our FAIRHORIZON Blue reference benchmark solution that has 20% global developed equities and 80% global investment grade short-to-medium maturity bonds for global high quality bonds-like returns and volatility.
Why we prefer this fund
Relevance of strategy
This fund provides access to a diversified portfolio of senior tranches of collateralised loan obligations (CLOs) that is an asset class with attractive yield pick-up vs comparable investment grade corporates and other types of asset-backed securities (ABS), low interest rate sensitivity due to its floating rate nature, and low correlation to traditional fixed income.
Manager expertise
The fund is managed using a team-based, institutional process as part of the PGIM fixed income business that is one of the largest globally. Aside from the broader shared resources, the Global CLO Tranche team has 6 portfolio managers focusing on trading and portfolio construction, supported by 7 dedicated research analysts. While the fund is relatively new having incepted in Jun-2025, the team has been managing US CLOs solutions since 2017.
Historical maximum drawdown & recovery time
Max drawdown (since inception)
-0.23%
Recovery Period
19 Days
Diversification
Credit Rating
Aaa90.70%
Aa6.40%
Cash & Other2.90%
Sectors
Securitized52.75%
Government-Related42.88%
Cash4.36%
Geography
U.S.A.42.88%
Ireland23.25%
Jersey14.89%
Cayman Islands14.61%
Cash4.36%
Frequently asked questions
What is the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund?
The Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund is a actively managed fund in the Global Bonds asset class, managed by PGIM. Global senior tranche (AAA) collateralised loan obligations (CLOs). Active strategy with concentrated portfolio.
What is the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund's FairHorizon classification?
Das Family Office classifies this fund as FairHorizon Blue, meaning it is suitable for investors with a 2–4 years investment horizon. conservative bond-heavy allocation
What is the total expense ratio (TER) of the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund?
The Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund has a total expense ratio of 0.35% per annum. The maximum recommended portfolio share is 35%.
What is the ISIN of the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund?
The ISIN of the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund share class tracked by Das Family Office is LU3068597817.
Is the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund accumulating or distributing?
The tracked share class (I Acc USD) is Accumulating — income is automatically reinvested into the fund.
What is the SFDR sustainability classification of the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund?
The Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund is classified as Article 8 under the EU Sustainable Finance Disclosure Regulation (SFDR).
When was the Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund launched?
The Waystone UCITS Platform (Lux) SICAV - PGIM Global AAA CLO Fund was incepted on 2025-06-26.
Research and editorial by
Mario Becker, CEO & Founder, and Lim Chuin Hao, Head of Research, Das Family Office.
Last updated .
Data source: institutional financial data providers.
