Objective

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.

diverse return sources

Global fixed income portfolio designed to nimbly extract multiple sources of alpha through active sector allocation and bottom-up security selection

deep & experienced team

With 180+ experienced investment professionals in the multi-sector group, few can match the experience, scale and resources of PGIM Fixed Income

active risk management

Quantitative modelling and proprietary risk management tools provide daily feedback, enabling swift risk adjustments based on the market environment

All data as of 28 August 2025 unless otherwise indicated.
Fund features
Investment Manager: PGIM, Inc.
Domicile: Ireland
Benchmark: Bloomberg Global Aggregate Index (USD Hedged)
Base Currency: USD
Dealing: Daily
Fund Net Assets (USD mm): 60.57
SFDR Classification: Article 6
FUND CHARACTERISTICS
AS OF 31/07/2025
Fund
Benchmark
Effective Duration 6.68 6.33
Yield-to-Worst (%) 5.65 4.90
Spread (bps) 136 32
Average Quality (Moody's) A3 Aa3
Average Coupon (%) 3.52 2.93
Number of Countries 61 78
Number of Issuers 250 3,447.00
Turnover Ratio (Latest 12-Months) 39 —

Due to the characteristics of the fund, the NAV may be highly volatile.

fees
Entry Charge: None
Exit Charge: None
Management (%): 0.35
Ongoing Charges (%): 0.50
Switching Fee: None

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.

Symbols
ISIN: IE00BFD2HD96
SEDOL: BFD2HD9
WKN: A2PH8F
Bloomberg: PGTRBUI ID
share class features

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.

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.

 

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fund administration

Investment Manager                  PGIM, Inc.
ListingGlobal Exchange Market of the Irish Stock Exchange plc
DepositaryState Street Custodial Services (Ireland) Limited
AdministratorState Street Fund Services (Ireland) Limited
AuditorPwC
ReportingMonthly 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.

MORNINGSTAR INFORMATION

The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustments for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year(if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

©2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  

Growth of $10,000

Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.

Please refer to the Fund Documents for other important
information regarding the risks involved in an investment
in the Fund.

standard (%)
AS OF 31 July 2025
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
rolling 12 month (%)
AS OF 31 July 2025
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
CALENDAR YEAR (%)

(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.

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All data as of 31 July 2025 unless otherwise indicated.
All data as of 31 July 2025 unless otherwise indicated.
Sector Allocation (%)
Sector
Fund
Benchmark
Emerging Markets 21.0% 16.3
IG Corporates 18.5% 19.5
Non-US Govt Related 13.9% 8.0
Non US Government 12.8% 26.0
ABS 11.8% 0.2
CMBS 7.7% 0.6
High Yield 6.2% 0.1
US Government 5.9% 18.6
Non-Agency MBS 1.2% 0.0
Municipals 0.5% 0.3
Mortgages 0.1% 10.0
Agencies 0.0% 0.3
Cash/Equiv 0.4% —
Credit Quality (%)2
Rating
Fund
Benchmark
AAA 17.5 11.9
AA 12.8 42.7
A 23.9 26.5
BBB 33.9 14.1
BB 7.0 0.0
B 2.6 0.0
CCC & Below 1.3 0.0
Not Rated 2.2 4.7
Cash/Equiv -1.2 —
TOP 10 CORPORATE INDUSTRIES (%)
Industry
Fund
Benchmark
Banking 9.1 4.8
Cable 1.9 0.2
Electric 1.8 1.3
Automotive 1.3 0.7
Energy - Integrated 1.0 0.3
Insurance 0.9 1.1
Telecom 0.9 0.8
REITS 0.9 0.5
Foods 0.9 0.8
Non Captive Finance 0.9 0.5
TOP 10 COUNTRIES (%)
Country
Fund
Benchmark
United States 32.6 40.3
European Union 8.7 0.0
Italy 7.8 3.3
Spain 3.9 2.3
France 3.7 5.2
Greece 3.3 0.1
United Kingdom 3.0 4.3
Mexico 3.0 0.6
United Arab Emirates 2.2 0.2
Cyprus 2.2 0.0
INDUSTRY ALLOCATION (%)
Industry
Fund
Benchmark
Non Credit 34.3 14.5
Finance 12.4 7.2
Industrial 10.8 9.3
Utility 2.0 1.7
REGIONAL ALLOCATION (%)1
Region
Fund
Benchmark
Europe 47.0 27.2
Dollar Bloc 34.5 45.6
Latin America 6.9 1.0
Middle East 5.8 0.8
Asia 4.8 22.7
Africa 0.4 0.0
Supranational 0.2 2.6
Cash/Equiv 0.4 —
CURRENCY ALLOCATION (%)
Currency
Share Class
Benchmark
USD 100.1 100.0
Emerging Markets 0.1 0.0
Other Developed 0.0 0.0
EUR -0.1 0.0
Yen -0.2 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.

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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.

Robert Tipp, CFA
Robert Tipp, CFA

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.

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Matthew Angelucci, CFA
Matthew Angelucci, CFA

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.

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Brett Bailey, CFA
Brett Bailey, CFA

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.

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Gregory Peters
Gregory Peters

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.

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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

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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.