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PGIM Fixed Income's Global Corporate Fixed Income Strategy is a single sector product that invests primarily in investment grade corporate bonds of U.S., European, and other developed country issuers. The objective of the strategy is to achieve an excess return of +100 bps over a global corporate bond benchmark, typically the Bloomberg Barclays Global Corporate Index (Unhedged), over a full market cycle.1,2
PGIM Fixed Income constructs and manages global corporate fixed income portfolios based on the philosophy that bottom-up industry and security selection generate high information ratios and, when executed successfully, can provide sustainable excess return over a global corporate bond benchmark. We follow the same philosophy in all global, U.S., and European corporate fixed income portfolios.
PGIM Fixed Income employs a disciplined, three-step investment process to manage Global Corporate Portfolios:
1 There is no guarantee that these objectives will be met.
2 On average, over a full market cycle defined as three to five years.
No risk management technique can guarantee the mitigation of elimination of risk in any market environment.
Source: PGIM Fixed Income as of September 30, 2020.