The investment objective of the PGIM Global Total Return Bond Fund (the "Fund") is to seek total return, made up of current income and capital appreciation, in excess of the Bloomberg Global Aggregate Index. There is no guarantee that this objective will be met. The Fund can invest in debt securities denominated in U.S. dollars, including those in developed or emerging market countries in U.S. dollars or foreign currencies. Please see the Company’s Fund Documents as defined below for additional information.
Fund
|
Benchmark
|
|
---|---|---|
Effective Duration | 6.50 | 6.38 |
Yield-to-Worst (%) | 6.25 | 4.80 |
Spread (bps) | 140 | 34 |
Average Quality (Moody's) | A3 | Aa3 |
Average Coupon (%) | 3.50 | 2.91 |
Number of Countries | 61 | 77 |
Number of Issuers | 258 | 3,448.00 |
Turnover Ratio (Latest 12-Months) | 41 | — |
Due to the characteristics of the fund, the NAV may be highly volatile.
Swing pricing, as defined in the prospectus, may be applied on a subscription or redemption of shares to reflect the costs of dealing in the Fund's assets.
Where an investor's own currency is different to the currency of the fund, the return on investment may be affected by fluctuations in the currency exchange rate. Also, the use of financial derivative instruments may result in increased gains or losses within the Fund.
Source: PGIM, Inc. Past performance is no guarantee of future results.
This is a marketing communication. Further information about the Fund (including the current Prospectus and Fund Supplement, net asset value per share of the Fund, and most recent financial statements) is available from the applicable distributor.
This Summary Fund Profile is a financial promotion and qualified in its entirety by reference to the more complete information contained in the Company’s Prospectus (the “Prospectus”), Supplement (the “Supplement”) and Key Investor Information Document (the “KIID”) or Key Information Document (the "KID"), depending on the jurisdition (collectively the “Fund Documents”). Capitalised terms used herein without definition have the respective meanings provided in the Prospectus, Supplement and KIID/KID, as applicable. Investors should review the Fund Documents and seek advice prior to making an investment.
An investment in the Fund involves a high degree of risk, including the risk that the entire amount invested may be lost. The Fund is primarily designed to purchase certain investments, which will introduce significant risk to the Fund, including asset performance, price volatility, administrative risk and counterparty risk. No guarantee or representation is made that any Fund’s investment program will be successful, or that such Fund’s returns will exhibit low correlation with an investor’s traditional securities portfolio.
Any investment in the Fund will be deemed to be a speculative investment and is not intended as a complete investment program. Investment in the Fund is suitable only for persons who can bear the economic risk of the loss of their investment and who meet the conditions set forth in the Fund Documents. There can be no assurances that the Fund will achieve its investment objective. Prospective and existing Investors should carefully consider the risks involved in an investment in the Fund, including, but not limited to, those discussed in the Fund Documents. Prospective and existing Investors should consult their own legal, tax and financial advisors about the risks of an investment in the Fund. Any such risk could have a material adverse effect on the Fund and its Shareholders.
Investment Manager | PGIM, Inc. |
Listing | Global Exchange Market of the Irish Stock Exchange plc |
Depositary | State Street Custodial Services (Ireland) Limited |
Administrator | State Street Fund Services (Ireland) Limited |
Auditor | PwC |
Reporting | Monthly statements |
Annual audited financial statements |
Please refer to the Fund Documents for other important
information regarding the risks involved in an investment
in the Fund.
ANNUALISED
|
|||||||
---|---|---|---|---|---|---|---|
Net Returns
|
1 Mo
|
3 Mo
|
YTD
|
1Yr
|
3Yr
|
5Yr
|
Since Inception (28 September 2018)
|
Fund | 0.4 | 1.38 | 4.54 | 5.59 | 5.03 | -0.37 | 2.96 |
Benchmark | -0.08 | 0.54 | 2.72 | 4.06 | 2.71 | 0.03 | 2.17 |
Difference | 0.48 | 0.84 | 1.82 | 1.53 | 2.32 | -0.4 | 0.79 |
2016
|
2017
|
2018
|
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
|
---|---|---|---|---|---|---|---|---|---|---|
Fund | - | - | - | - | 9.00 | 1.01 | -16.11 | 0.97 | 8.68 | 5.59 |
Benchmark | - | - | - | - | 6.39 | 0.23 | -7.77 | -1.95 | 6.18 | 4.06 |
Difference | - | - | - | - | 2.61 | 0.78 | -8.34 | 2.92 | 2.50 | 1.53 |
(Year Ended 31 December)
2015
|
2016
|
2017
|
2018
|
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
|
---|---|---|---|---|---|---|---|---|---|---|
Fund | - | - | - | - | 14.43 | 8.21 | -3.00 | -17.96 | 10.08 | 4.92 |
Benchmark | - | - | - | - | 8.22 | 5.58 | -1.39 | -11.22 | 7.15 | 3.40 |
Difference | - | - | - | - | 6.21 | 2.63 | -1.61 | -6.74 | 2.93 | 1.52 |
The monthly calculated performance scenarios are available upon request.
Source: PGIM, Inc. Past performance is no guarantee of future results. Net returns are calculated on a Net Asset Value (NAV) to NAV basis and reflect the deduction of ongoing fees, which include the management fee. Difference represents the difference between net returns and the benchmark and may reflect rounding differences. Benchmark is Bloomberg Global Aggregate Index (CAD) (the "Benchmark").
This is a marketing communication. Further information about the Fund (including the current Prospectus and Fund Supplement, net asset value per share of the Fund, and most recent financial statements) is available from the applicable distributor.
The Bloomberg Global Aggregate Index (CAD) (the "Benchmark") provides a broad-based measure of the global investment-grade fixed income markets. The index includes Eurodollar and Euro-Yen corporate bonds, Canadian government, agency and corporate securities, and USD investment-grade 144A securities. Securities included in the index must have at least 1 year until final maturity and be rated investment-grade (Baa3/ BBB-/BBB-) or better using the middle rating of Moody’s, S&P, and Fitch. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg does not approve or endorse this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
Fund performance is as of the last business day of the month as defined in the Fund Supplement, which may differ from the month end. If any current shareholders would like to receive intra-month summaries please request this through your registered financial intermediary.
Sector
|
Fund
|
Benchmark
|
---|---|---|
Emerging Markets | 20.3% | 16.0 |
IG Corporates | 19.6% | 19.6 |
Non-US Govt Related | 14.6% | 8.1 |
Non US Government | 12.8% | 26.6 |
ABS | 11.7% | 0.2 |
CMBS | 7.6% | 0.6 |
High Yield | 6.6% | 0.1 |
US Government | 5.7% | 18.3 |
Non-Agency MBS | 1.2% | 0.0 |
Municipals | 0.5% | 0.3 |
Swaps | 0.1% | 0.0 |
Mortgages | 0.1% | 9.9 |
Agencies | 0.0% | 0.3 |
Cash/Equiv | -0.9% | — |
Rating
|
Fund
|
Benchmark
|
---|---|---|
AAA | 17.4 | 12.0 |
AA | 11.4 | 42.5 |
A | 24.7 | 26.6 |
BBB | 34.0 | 14.1 |
BB | 6.9 | 0.0 |
B | 3.0 | 0.0 |
CCC & Below | 1.2 | 0.0 |
Not Rated | 2.2 | 4.7 |
Cash/Equiv | -0.9 | — |
Industry
|
Fund
|
Benchmark
|
---|---|---|
Banking | 9.1 | 4.8 |
Cable | 1.8 | 0.2 |
Electric | 1.8 | 1.3 |
REITS | 1.5 | 0.5 |
Automotive | 1.4 | 0.7 |
Foods | 1.3 | 0.8 |
Telecom | 1.3 | 0.8 |
Energy - Integrated | 1.0 | 0.3 |
Insurance | 0.9 | 1.1 |
Non Captive Finance | 0.9 | 0.5 |
Country
|
Fund
|
Benchmark
|
---|---|---|
United States | 32.5 | 39.8 |
European Union | 8.6 | 0.0 |
Italy | 7.4 | 3.3 |
Spain | 3.9 | 2.4 |
United Kingdom | 3.8 | 4.4 |
France | 3.7 | 5.3 |
Greece | 3.3 | 0.2 |
Mexico | 2.3 | 0.5 |
Cyprus | 2.2 | 0.0 |
United Arab Emirates | 2.1 | 0.2 |
Industry
|
Fund
|
Benchmark
|
---|---|---|
Non Credit | 34.3 | 14.5 |
Finance | 12.9 | 7.2 |
Industrial | 11.7 | 9.3 |
Utility | 1.9 | 1.7 |
Region
|
Fund
|
Benchmark
|
---|---|---|
Europe | 48.2 | 27.6 |
Dollar Bloc | 35.0 | 45.2 |
Latin America | 6.0 | 1.0 |
Middle East | 5.7 | 0.8 |
Asia | 5.3 | 22.7 |
Africa | 0.4 | 0.0 |
Supranational | 0.2 | 2.7 |
Cash/Equiv | -0.9 | — |
Currency
|
Share Class
|
Benchmark
|
---|---|---|
USD | 100.0 | 100.0 |
Other Developed | 0.1 | 0.0 |
Emerging Markets | 0.0 | 0.0 |
Yen | 0.0 | 0.0 |
EUR | -0.1 | 0.0 |
Currency Allocation has been removed from the website. Share class Currency Allocation is available on the fund's fact sheet Click Here
Source: PGIM, Inc. Totals may not equal 100% due to rounding. Portfolio holdings may not represent current, future investments or all of the portfolio’s holdings. Future portfolio holdings may not be profitable.
This is a marketing communication. Further information about the Fund (including the current Prospectus and Fund Supplement, net asset value per share of the Fund, and most recent financial statements) is available from the applicable distributor.
This Summary Fund Profile is a financial promotion and qualified in its entirety by reference to the more complete information contained in the Fund Documents. Capitalised terms used herein without definition have the respective meanings provided in the Fund Documents as applicable. Investors should review the Fund Documents and seek advice prior to making an investment.
2The Credit Quality allocation is based on the current ratings methodology of Bloomberg Global Family of Indices, which is as follows: If each of the Ratings Agencies (Moody’s, S&P, and Fitch) assigns ratings to an instrument, the methodology will attribute the middle rating to the instrument after dropping the highest and lowest ratings. If only two Ratings Agencies assign ratings, the methodology will attribute the more conservative (lower) rating of the two. If only one Ratings Agency assigns a rating, the methodology will attribute that rating.
1Dollar Bloc represents allocation to U.S., Australia, Canada, Bermuda, and Cayman Islands. Europe represents all European countries plus Russia, Kazakhstan, and Turkey.
PGIM Fixed Income, with $821 billion in assets under management (as of 31 Mar 2024)1, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Tokyo, Amsterdam and Singapore. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach.
Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income
|PGIM Fixed Income
Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income.
Principal and Portfolio Manager on the Multi-Sector Team at PGIM Fixed Income
|PGIM Fixed Income
Matthew Angelucci, CFA, is a Principal and portfolio manager on the Multi-Sector Team at PGIM Fixed Income.
Principal and Portfolio Manager for PGIM Fixed Income's Global Bond Team
|PGIM Fixed Income
Brett Bailey, CFA, is a Principal and portfolio manager for PGIM Fixed Income's Global Bond Team.
Managing Director and Co-Chief Investment Officer of PGIM Fixed Income
|PGIM Fixed Income
Gregory Peters is a Managing Director and Co-Chief Investment Officer of PGIM Fixed Income.
This is a marketing communication. Further information about the Fund (including the current Prospectus and Fund Supplement, net asset value per share of the Fund, and most recent financial statements) is available from the applicable distributor.
This Summary Fund Profile is a financial promotion and qualified in its entirety by reference to the more complete information contained in the Fund Documents. Capitalised terms used herein without definition have the respective meanings provided in the Fund Documents as applicable. Investors should review the Fund Documents and seek advice prior to making an investment.
1Assets under management (AUM) are based on company estimates and are subject to change.
3313310 Ed. 01/2024
document name | Type |
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There is no guarantee that this objective will be achieved. Portfolio characteristics subject to change. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.