Objective

The investment objective of the PGIM Emerging Market Hard Currency Debt Fund (the "Fund") is to seek to achieve a return through a combination of current income and capital appreciation while preserving invested capital. There is no assurance that such objective will be achieved. The Fund will be actively managed and will use the relative value approach through which it will seek to identify and capture market inefficiencies, such as mispriced securities relative to the Investment Manager’s expectation, within the emerging market fixed income and foreign exchange markets with an actively-managed approach. The benchmark of the Fund is the J.P. Morgan EMBI Global Diversified Index. Please see the Company's Fund Documents as described below for additional information.

disciplined approach

Focus on income and capital appreciation, with a rigorous review of each country’s political, policy, structural, liquidity, fiscal, and ESG risks

research-driven

Employs a research-based approach to security selection to seek the most attractive investment opportunities

experienced team

An emerging markets debt team that has leveraged resources across the firm to deliver exposure without overreaching on risk since 1995

All data as of 25 September 2025 unless otherwise indicated.
Fund features
Investment Manager: PGIM, Inc.
Domicile: Ireland
Benchmark: —
Base Currency: USD
Dealing: Daily
Fund Net Assets (USD mm): 827.36
SFDR Classification: Article 6
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
Entry Charge: None
Exit Charge: None
Management (%): 0.55
Ongoing Charges (%): 0.59
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: IE000K91QJ57
SEDOL: BLH3DS7
WKN: —
Bloomberg: —

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.  

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.

Cathy Hepworth
Cathy Hepworth

Managing Director and Head of PGIM Fixed Income's Emerging Markets Debt Team

PGIM Fixed Income

Cathy L. Hepworth, CFA, is a Managing Director and Head of PGIM Fixed Income's Emerging Markets Debt Team.

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Mariusz Banasiak, CFA
Mariusz Banasiak, CFA

Managing Director and Head of Local Currency Rates and FX for PGIM Fixed Income's Emerging Markets Debt Team

PGIM Fixed Income

Mariusz Banasiak, CFA, is a Managing Director and Head of Local Currency Rates and FX for PGIM Fixed Income's Emerging Markets Debt Team.

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Todd Petersen
Todd Petersen

Principal and Portfolio Manager for PGIM Fixed Income's Emerging Markets Debt Team

PGIM Fixed Income

Todd Petersen is a Principal and portfolio manager for PGIM Fixed Income's Emerging Markets Debt Team.

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Johnny Mak
Johnny Mak

Principal and Portfolio Manager for PGIM Fixed Income's Emerging Markets Debt Team

PGIM Fixed Income

Johnny Mak is a Principal and portfolio manager for PGIM Fixed Income's Emerging Markets Debt team.

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Aayush Sonthalia, CFA
Aayush Sonthalia, CFA

Principal and portfolio manager for PGIM Fixed Income's Emerging Markets Debt Team

PGIM Fixed Income

Aayush V. Sonthalia, CFA, is a Principal and portfolio manager for PGIM Fixed Income's Emerging Markets Debt Team.

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Mark Thurgood, ACA
Mark Thurgood, ACA

Principal and Portfolio Manager

PGIM Fixed Income

London

Mark Thurgood, ACA, is a Principal and Portfolio Manager for PGIM Fixed Income's Emerging Markets Debt Team.

Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom

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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.

3313265    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.