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PGIM Absolute Return Bond Fund
PGIM Absolute Return Bond Fund (the “Fund”) seeks to outperform ICE BofA US 3-Month Treasury Bill Index^ (the “Benchmark”) over a full market cycle on a total return basis. There is no assurance that this objective will be achieved. The Benchmark will be used for performance comparison purposes only. 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. The investment strategy of the Fund seeks to minimize interest rate risk and put considerably more emphasis on security selection. Please see the Company's Fund Documents for additional information.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 theprinciples of Article 8 of the SFDR.
Fund Facts
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.
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.
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.
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.
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 $862 billion in assets under management (as of 31 Mar 2025)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
Co-Chief Investment Officer of PGIM Credit
Credit
Gregory Peters is Co-Chief Investment Officer of PGIM Credit.
Richard Piccirillo
Managing Director and Co-Head of PGIM's Multi-Sector Team
Credit
Richard Piccirillo is a Managing Director and Co-Head of PGIM Credit's Multi-Sector Team.
Robert Tipp, CFA
Managing Director, Chief Investment Strategist, and PGIM Credit's Head of Global Bonds
Credit
Robert Tipp, CFA is a Managing Director, Chief Investment Strategist, and PGIM Credit's Head of Global Bonds.
Matthew Angelucci, CFA
Managing Director and Senior Portfolio Manager
Credit
Matthew Angelucci, CFA is a Managing Director and senior portfolio manager on PGIM Credit's Multi-Sector Team.
Tyler Thorn
Managing Director and a Portfolio Manager
Credit
Tyler Thorn is a Managing Director and a Portfolio Manager on PGIM Credit's Multi-Sector Team.
Source: PGIM, Inc. Past performance is no guarantee of future results.
1Assets under management (AUM) are based on company estimates and are subject to change.
PGIM literature
Fund literature
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