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Source: Morningstar. The Morningstar Rating may be calculated based on its share class adjusted historical returns. If so, this investment's independent Morningstar Rating metric uses the fund's oldest share class to determine its hypothetical rating for certain time periods. 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 adjustment 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.
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Global Scale. Active Management. Deep Credit Expertise.
1,500
$1T+
150 years
Risk Signals Across Public Markets
Risk Signals Across Public Markets
We map private credit to comparable public-market risks, using pricing, liquidity and volatility signals to assess relative value and underwriting alpha.
Broad Origination, High Selectivity
Broad Origination, High Selectivity
Our global network provides access to sponsored and non-sponsored markets, allowing us to remain selective based on risk, pricing and structure.
Structure for Downside Protection
Structure for Downside Protection
Our credit approach emphasizes resilient cash flows, appropriate leverage, strong covenants and structural protections to help protect capital.
Sources
* Historical milestones prior to 1962 reflect the investment activities of The Prudential Insurance Company of America, the predecessor to PGIM.
1. William H. A. Carr, From Three Cents a Week: The Story of the Prudential Insurance Company of America (1975).
2. Earl Chapin May and Will Oursler, The Prudential: A Story of Human Security (New York: Prentice-Hall, 1950).
3. Time, “Insurance: Chip Off the Old Rock,” April 1, 1957.
Please click on this PGIM Funds plc disclosure link for important information.
6040754_PGIM
