PGIM Absolute Return Bond Fund
The investment objective of the PGIM Absolute Return Bond Fund (the "Fund") (Prior to 30 November 2023, the Fund was known as PGIM Absolute Return Fund) is to seek to outperform ICE BofA US 3-Month Treasury Bill Index^ (the “Benchmark”) over a full market cycle on a total return basis. The Fund is actively managed and seeks to add value through investing in a variety of debt securities and instruments and using a variety of investment techniques, which may include actively managing duration, credit quality, yield curve positioning, and currency exposure, as well as sector and security selection in order to identify securities which the Investment Manager believes will provide the best relative value. The investment strategy of the Fund seeks to minimize interest rate risk and put considerably more emphasis on security selection. The Fund may also use to a significant extent, for investment, risk management or hedging purposes, exchange traded and over-the-counter derivatives. 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 features
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.
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.
Symbols
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 performance of the Class is shown against ICE BofA US 3-Month Treasury Bill Index for comparison purposes. Prior to 14 February 2022, the performance of the Class was shown against ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index, and this performance comparison is available from the Investment Manager on request.
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.
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.
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.
Richard Piccirillo
Managing Director and Co-head on PGIM Fixed Income's Multi-Sector Team
PGIM Fixed Income
Richard Piccirillo is a Managing Director and one of the co-heads on the Multi-Sector Team at PGIM Fixed Income.
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.
Matthew Angelucci, CFA
Managing Director and Multi-Sector senior portfolio manager
PGIM Fixed Income
Matthew Angelucci, CFA, is a Managing Director and senior portfolio manager on the Multi-Sector Team responsible for Global Bond Strategies.
Tyler Thorn
Principal and Portfolio Manager for PGIM Fixed Income's Multi-Sector Team
PGIM Fixed Income
Tyler Thorn is a Principal and a portfolio manager on the Multi-Sector Team at PGIM Fixed Income.
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.
3489936 Ed. 04/2024
PGIM literature
Fund literature
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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.
