PGIM Global Corporate Bond Fund
)
The investment objective of the PGIM Global Corporate Bond Fund (the "Fund") is to outperform the Bloomberg Global Aggregate Corporate Index on a total return basis. There is no guarantee that this objective will be met. The Fund will primarily invest in fixed income securities listed or traded on Recognised Markets (as set out in Appendix B of the Prospectus) globally which are rated investment grade, or, if not rated, determined by the Investment Manager to be of comparable quality to securities so rated. The Fund’s below investment grade holdings may not exceed 10% of its net asset value. In addition, no more than 5% of the net asset value of the Fund may be invested in securities that are not rated by a rating agency. The Fund incorporates environmental, social and governance (“ESG”) factors into its investment process and promotes certain sustainability characteristics. PGIM Fixed Income has determined that the Fund qualifies as a Light Green Fund, which is a fund that seeks to comply with the principles of Article 8 of the SFDR. Please see the Company’s Fund Documents as defined below for additional information.
Fund Facts
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.
FUND CHARACTERISTICS
| Numero di paesi | 25 |
| Durchschnittlicher Kupon (%) | 4,59 |
| Effektive Duration (Jahre) | 5,50 |
| Anzahl der Emissionen | 927 |
| Average Quality (Moody's) | A3 |
| Spread (Basispunkte) | 97 |
| Tasso di rotazione (ultimi 12 mesi) | 84 |
| Spread-Dauer (Jahre) | 5,44 |
| Anzahl der Aussteller | 366 |
| Gewichtete durchschnittliche Lebensdauer (Jahre) | 7,85 |
| Rendite bis zur Fälligkeit (%, brutto) | 6,17 |
| Ertrag bis zum schlechtesten Preis (%, brutto) | 6,10 |
Due to the characteristics of the fund, the NAV may be highly volatile.
Fund fees
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.
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.
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.
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.
RISKS
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.
fund administration
| 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 |
fund structure
- Ireland based UCITS fund
- The Fund is a sub-fund of PGIM Funds plc (the “Company”)
- The Company is an investment company with variable capital incorporated in Ireland with registered number 530399
- The Company is established as an umbrella fund with segregated liability between sub-funds
- The Company is managed by PGIM Investments (Ireland) Limited (the “Manager”). The Company and the Manager are each authorised in Ireland and regulated by the Central Bank of Ireland.
standard Performance (%)
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ANNUALISED
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NetReturns
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1 Mo
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3 Mo
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YTD
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1Yr
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3Yr
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5Yr
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Since Inception 20 April 2026)
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rolling 12 month Performance (%)
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2016
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2017
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2018
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2019
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2020
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2021
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2022
|
2023
|
2024
|
2025
|
|---|
CALENDAR YEAR Performance (%)
YEAR ENDED 31 DECEMBER
|
2016
|
2017
|
2018
|
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
|---|
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 50% J.P. Morgan EMBI Global Diversified Index/50% J.P. Morgan GBI-EM Global Diversified Index (USD) (the "Benchmark").
The benchmark of the Fund is 50% J.P. Morgan EMBI Global Diversified Index/50% J.P. Morgan GBI-EM Global Diversified Index (USD) (the “Benchmark”). The J.P. Morgan EMBI Global Diversified Index tracks total returns for USD-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities: Brady bonds, loans, and Eurobonds. The J.P. Morgan GBI-EM Global Diversified Index tracks total returns for local currency bonds issued by emerging market governments. Both indices limit the weights of those index countries with larger debt stocks by only including specified portions of these countries’ eligible current face amounts of debt outstanding. The Indices are used with permission. The Index may not be copied, used, or distributed without JP Morgan’s prior written approval. Copyright 2023, JP Morgan Chase & Co. All rights reserved. Information has been obtained from sources believed to be reliable but JP Morgan does not warrant its completeness or accuracy.
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.
- TABLE
- CHARTS
Top 10 Corporate Issuers (%)
|
Fund
|
Bench
|
|
|---|---|---|
| JPMORGAN CHASE & CO | 2,0 | 1,4 |
| GOLDMAN SACHS GROUP INC/THE | 1,9 | 1,2 |
| MORGAN STANLEY | 1,9 | 1,4 |
| UBS GROUP AG | 1,8 | 0,7 |
| HSBC HOLDINGS PLC | 1,6 | 1,0 |
| BNP PARIBAS SA | 1,5 | 0,7 |
| RUE LA BOETIE SAS | 1,5 | 0,6 |
| PORSCHE AUTOMOBIL HOLDING SE | 1,3 | 0,5 |
| DEUTSCHE BANK AG | 1,3 | 0,3 |
| LLOYDS BANKING GROUP PLC | 1,2 | 0,4 |
Sector Allocation (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Unternehmensanleihen mit Investment-Grade-Rating | 89,1 | 95,1 |
| Staatsnahe Anleihen ex USA | 3,6 | 0,0 |
| Non-Agency MBS | 2,0 | 0,0 |
| Schwellenmärkte | 1,7 | 3,5 |
| Kommunalobligationen | 1,2 | 0,6 |
| High Yield | 0,2 | 0,7 |
| CLO | 0,2 | 0,0 |
| US-Staatsanleihen | 0,2 | 0,0 |
| Staatsanleihen außer USA | 0,0 | 0,0 |
| Swaps | -0,2 | 0,0 |
| Zahlungsmittel u. Zahlungsmitteläquivalente | 2,0 | 0,0 |
Credit Quality (%)
|
Fund
|
Bench
|
|
|---|---|---|
| AAA | 2,4 | 0,5 |
| AA | 5,9 | 9,4 |
| A | 37,8 | 43,9 |
| BBB | 51,8 | 45,2 |
| BB | 0,2 | — |
| B | 0,1 | — |
| Ohne Rating | -0,2 | 0,8 |
| Zahlungsmittel u. Zahlungsmitteläquivalente | 2,0 | 0,0 |
REGIONAL ALLOCATION (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Dollar | 61,0 | 65,6 |
| Europa | 32,4 | 28,3 |
| Asien | 3,5 | 4,4 |
| Lateinamerika | 0,7 | 0,8 |
| Naher Osten | 0,5 | 0,7 |
| Afrika | 0,0 | 0,1 |
| Zahlungsmittel u. Zahlungsmitteläquivalente | 2,0 | 0,0 |
TOP COUNTRIES (%)
|
Fund
|
Bench
|
|
|---|---|---|
| USA | 57,8 | 58,2 |
| Vereinigtes Königreich | 8,3 | 6,8 |
| Frankreich | 6,7 | 6,1 |
| Deutschland | 4,5 | 4,3 |
| Japan | 3,5 | 2,8 |
| Schweiz | 2,7 | 1,1 |
| Kanada | 2,4 | 5,0 |
| Spanien | 1,9 | 1,9 |
| Norwegen | 1,7 | 0,3 |
| Niederlande | 1,3 | 1,8 |
CURRENCY ALLOCATION (%)
| USD | 100,0 |
| Euro | 0,1 |
| EM | 0,0 |
| Yen | 0,0 |
| Sonstige Industrieländer | 0,0 |
TOP 10 INDUSTRIES (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Bankwesen | 31,1 | 25,5 |
| REIT | 7,1 | 2,6 |
| Technologie | 7,1 | 7,5 |
| Elektrizität und Wasser | 6,1 | 8,3 |
| Automobil | 5,2 | 3,7 |
| Makler | 3,4 | 1,6 |
| Gesundheitswesen u. Pharma | 3,2 | 7,0 |
| Energie – Upstream | 3,2 | 2,6 |
| Energie – Midstream | 2,8 | 2,7 |
| Sach- und Unfallversicherung | 2,8 | 1,8 |
INDUSTRY ALLOCATION (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Finanzen | 47,7 | 38,5 |
| Industriegüter | 35,6 | 51,3 |
| Versorger | 7,2 | 9,6 |
MSCI CARBON METRICS (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Corporates | — | — |
| Weighted Average Carbon Intensity | 126,4 | 198,1 |
| (%) der Unternehmensanleihen | 97,2 | 100,0 |
| (%) der Abdeckung durch Unternehmensanleihen | 95,7 | 95,8 |
| Sovereigns | — | — |
| Treibhausgasemissionen pro Kopf (Tonnen CO2-quiv.) | 17,3 | — |
| (%) der Staatsanleihen | 0,5 | — |
| (%) der Abdeckung durch Staatsanleihen | 29,0 | — |
MSCI ESG RISK RATINGS (%)
|
Fund
|
Bench
|
|
|---|---|---|
| AAA | 16,3 | 18,4 |
| AA | 30,7 | 30,1 |
| A | 22,5 | 24,2 |
| BBB | 10,8 | 13,3 |
| BB | 6,1 | 5,0 |
| B | 3,0 | 2,3 |
| CCC | 0,0 | 0,4 |
| Ohne Rating | 10,7 | 6,3 |
PGIM ESG IMPACT RATINGS DISTRIBUTION (%)
|
Fund
|
Bench
|
|
|---|---|---|
| Average PGIM Impact Rating | 55,8 | 53,7 |
| 85-100 (Netto-Positiv) | 1,9 | 0,8 |
| 65-80 (Fortgeschritten) | 29,0 | 24,3 |
| 40-60 (Ausgewogen) | 63,0 | 60,4 |
| 20-35 (Nachzügler/Gemischt) | 5,9 | 8,3 |
| 0-15 (Netto-Negativ) | — | 1,7 |
| Ohne Rating | 0,2 | 4,4 |
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.
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.
Regional Allocation - Dollar Bloc represents allocation to U.S., Australia, Canada, Bermuda, and Cayman Islands. Europe represents all European countries plus Russia, Kazakhstan, and Turkey.
ABOUT
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.
PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.
Edward Farley
Head of European Investment Grade Corporate Bonds and Senior Portfolio Manager, Global Corporate Strategy
PGIM Fixed Income
London
Edward Farley is a Managing Director and Head of the European Investment Grade Corporate Bond Team at PGIM Fixed Income, based in London.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Robert White
Principal and Portfolio Manager
PGIM Fixed Income
London
Robert White is a Principal and Portfolio Manager on the European Investment Grade Corporate Bond Team at PGIM Fixed Income.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Ashley Wieseltier, CFA
Vice President and Portfolio Manager
PGIM Fixed Income
Newark
Ashley Wieseltier, CFA, is a Vice President and Portfolio Manager for PGIM Fixed Income’s U.S. Investment Grade Corporate Bond Team.
Prudential Tower, 655 Broad Street, Newark, New Jersey, United States
Christopher Alquiza, CFA
U.S. Investment Grade Corporate Bond Portfolio Manager
Newark
Prudential Tower, 655 Broad Street, Newark, NJ, United States
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 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.
PGIM literature
Fund literature
| document name | Type |
|---|
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.
