PGIM European High Yield Bond Fund
The investment objective of the PGIM European High Yield Bond Fund (the "Fund") is to achieve a return through a combination of current income and capital appreciation while preserving invested capital. The benchmark of the Fund is the ICE BofA European Currency Non-Financial High Yield 2% Constrained Index. There is no guarantee that this objective will be met. The Fund will be invested in a diversified portfolio consisting primarily of high yield bonds that are originated in the European bond market. These securities will largely be a mix of fixed and floating rate instruments that are rated below investment grade. The Fund will seek to identify and capture relative value opportunities within the European high yield bond market with an active, risk managed approach using fundamental credit analysis. 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
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.
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.
Jonathan Butler
Head of European Leveraged Finance and Co-Head of Global High Yield Strategy
PGIM Fixed Income
London
Jonathan Butler's Biography
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Arvinder Chowdhary, CFA
Portfolio Manager, European Leveraged Finance
PGIM Fixed Income
London
Arvinder Chowdhary, CFA, is a Principal and Portfolio Manager on the European Leveraged Finance Team at PGIM Fixed Income.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Rob Fawn
Portfolio Manager, European Leveraged Finance
PGIM Fixed Income
London
Rob Fawn 's Biography
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Terry Nguyen, CFA
Principal and Portfolio Manager
PGIM Fixed Income
London
Terry Nguyen, CFA, is a Principal and Portfolio Manager in PGIM Fixed Income’s European Leverage Finance Team.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
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.
3313312 Ed. 01/2024
PGIM literature
Fund literature
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The fund name should display here: PGIM European High Yield Bond Fund
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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.
