Skip to main content
PGIM Investments LogoPGIM Investments Logo
  • Funds

    • UCITS Funds by Asset Class
    • Prices
    • Performance
  • Investment Solutions

    • Active Fixed Income
    • Alternatives Investing
    • Carbon Solutions
    • Data Centers
    • Global Real Estate
    • Innovative Growth
  • Thought Leadership

    • Insights
    • Market Outlooks
    • Investment Themes
    • Webinar Hub
    • Proprietary Research
  • Literature
  • About Us

    • About PGIM Investments
    • Awards & Accolades
    • Careers
    • ESG Investing
    • Newsroom

    About our Managers

    • Jennison Associates
    • PGIM Fixed Income
    • PGIM Real Estate
    • PGIM Quantitative Solutions

  • Contact
""

New Heights in High YieldNewHeightsinHighYield

Taking a high-conviction approach to higher-yielding fixed income securities.

  • Read Whitepaper

INGREDIENTS FOR EQUITY-LIKE RETURN POTENTIAL​

Elevated yields, strong corporate fundamentals and resilient economic trends contribute to a supportive backdrop for high yield bonds, while valuation dispersion fosters compelling conditions for the active pursuit of alpha. The high yield category offers equity-like return potential with less volatility at a time when stocks trade at the upper end of their historic valuation range.

SEEKING INCOME WITH UPSIDE​

PGIM Fixed Income’s high yield bond solutions seek to maximise risk-adjusted returns by taking the right risks based on exhaustive credit research and strict risk management, emphasising current income, and diversifying by industry, geography and sector.​

FEATURED FUNDS



Equipped For Outperformance

""

Experience and Stability

PGIM Fixed Income has more than five decades of high yield bond investing experience as a firm, with portfolio managers averaging 22 years of experience and credit analysts averaging 15 years of experience.

Intensive Research

INTENSIVE RESEARCH

More than 50 leveraged finance professionals based in the U.S., Europe and Asia conduct fundamental research and leverage firmwide insights to manage $97 billion in category assets.

Relentless on Risk

RELENTLESS ON RISK

Informed by a risk-management heritage dating back to 1875, ongoing monitoring on the issuer and market levels aims to mitigate issuer, industry, credit quality, and liquidity risks.

Related Insights

Weekly View from the Desk
Fixed Income

Weekly View from the Desk

May 19, 2025

PGIM Fixed Income shares their weekly views and outlook for fixed income markets.

Global High Yield: Q1 2025 Fixed Income Sector Outlook
Fixed Income

Global High Yield: Q1 2025 Fixed Income Sector Outlook

Feb 13, 2025

Jennifer Herrera, CFA, Portfolio Manager, U.S. High Yield Bonds, explores the global high yield outlook for Q1 2025.

Hold On: Ride the Bull
Fixed Income

Hold On: Ride the Bull

Jan 10, 2025

In its 1Q 2025 outlook, PGIM Fixed Income shares their views on the current economic environment and outlook for fixed income markets.

Now’s the Time for Active Bond Managers
Fixed Income

Now’s the Time for Active Bond Managers

Nov 1, 2024

PGIM Fixed Income explore the fourth quarter 2024 fixed income market outlook and portfolio positioning.

Healthy Fundamentals Foster Global High-Yield Confidence
Fixed Income

Healthy Fundamentals Foster Global High-Yield Confidence

Jul 16, 2024

PGIM Fixed Income’s Jonathan Butler shares insights on his high-yield bond outlook

Sources of data (unless otherwise noted) are as of 31 December 2024.

References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities. The securities referenced may or may not be held in the portfolio at the time of publication and, if such securities are held, no representation is being made that such securities will continue to be held.

The views expressed herein are those of PGIM investment professionals at the time the comments were made, may not be reflective of their current opinions, and are subject to change without notice. Neither the information contained herein nor any opinion expressed shall be construed to constitute investment advice or an offer to sell or a solicitation to buy any securities mentioned herein. Neither PFI, its affiliates, nor their licensed sales professionals render tax or legal advice. Clients should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation. Certain information in this commentary has been obtained from sources believed to be reliable as of the date presented; however, we cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is current as of the date of issuance (or such earlier date as referenced herein) and is subject to change without notice. The manager has no obligation to update any or all such information; nor do we make any express or implied warranties or representations as to the completeness or accuracy.

Any projections or forecasts presented herein are subject to change without notice. Actual data will vary and may not be reflected here. Projections and forecasts are subject to high levels of uncertainty. Accordingly, any projections or forecasts should be viewed as merely representative of a broad range of possible outcomes. Projections or forecasts are estimated based on assumptions, subject to significant revision, and may change materially as economic and market conditions change.

Morningstar Ratings

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.  

Past performance is not a guarantee or a reliable indicator of future results.

For compliance use only 4074837

  • PGIM Funds

    • Home
    • Contact
    • Newsroom
    • Awards
    • Careers
  • About Us

    • Overview
    • PGIM Fixed Income
    • PGIM Real Estate
    • Jennison Associates
    • PGIM Quantitative Solutions
  • Funds

    • Explore Funds
    • Prices
    • Performance
    • Literature
  • Disclosures

    • Disclosure
    • Cookies and Pixel Tags
    • UK Regulatory Disclosure
  • Insights

    • Latest Insights
    • Webinars
    • Market Outlooks
PGIM Investments Logo
  • Terms & Conditions
  • Privacy Policy
  • Accessibility Help
  • Cookie Preference Center

UCITS HAVE NO GUARANTEED RETURN AND PAST PERFORMANCE DOES NOT GUARANTEE THE FUTURE PERFORMANCE.

For Professional Investors only. All investments involve risk, including the possible loss of capital.

Past performance is not a guarantee or a reliable indicator of future results. 

In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418), and with respect to its Italian operations by the Consob and Bank of Italy. In the European Economic Area (“EEA”), information may be issued by PGIM Netherlands B.V., PGIM Limited or PGIM Luxembourg S.A. depending on the jurisdiction.  PGIM Netherlands B.V., with registered office at Eduard van Beinumstraat 6, 1077CZ, Amsterdam, The Netherlands, is authorised by the Autoriteit Financiële Markten (“AFM”) in the Netherlands (Registration number 15003620) and operates on the basis of a European passport. PGIM Luxembourg S.A., with registered office at 2, boulevard de la Foire, L-1528 Luxembourg, is authorised and regulated by the Commission de Surveillance du Secteur Financier (the “CSSF”) in Luxembourg (registration number A00001218) and operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance on provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. This information is issued by PGIM Limited, PGIM Netherlands B.V. and/or PGIM Luxembourg S.A. to persons in the UK who are professional clients as defined under the rules of the FCA and/or to persons in the EEA who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II). In Switzerland, information is issued by PGIM Limited, through its Representative Office in Zurich with registered office: Kappelergasse 14, CH-8001 Zurich, Switzerland. PGIM Limited, Representative Office in Zurich is authorised and regulated by the Swiss Financial Market Supervisory Authority FINMA and these materials are issued to persons who are professional or institutional clients within the meaning of Art.4 para 3 and 4 FinSA in Switzerland. In certain countries in Asia-Pacific, information is issued by PGIM (Singapore) Pte. Ltd. with registered office: 88 Market Street, #43-06 CapitaSpring, Singapore 048948. PGIM (Singapore) Pte. Ltd. is a regulated entity with the Monetary Authority of Singapore (“MAS”) under a Capital Markets Services License (License No. CMS100017) to conduct fund management and an exempt financial adviser. In Hong Kong, information is issued by PGIM (Hong Kong) Limited with registered office: Units 4202-4203, 42nd Floor Gloucester Tower, The Landmark 15 Queen’s Road Central Hong Kong. PGIM (Hong Kong) Limited is a regulated entity with the Securities & Futures Commission in Hong Kong (BVJ981) (“SFC”) to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (“SFO”) (Cap.571). PGIM Limited, PGIM Netherlands B.V. and PGIM Luxembourg S.A., PGIM (Singapore) Pte. Ltd. and PGIM (Hong Kong) Limited are indirect, wholly-owned subsidiaries of PGIM, Inc. (“PGIM” and the “Investment Manager”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PGIM, the PGIM logo and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PGIM Fixed Income and PGIM Real Estate are trading names of PGIM, a SEC registered investment adviser in the United States. Jennison and PGIM Quantitative Solutions are trading names of Jennison Associates LLC, and PGIM Quantitative Solutions LLC, respectively, both of which are SEC registered investment advisers and wholly owned subsidiaries of PGIM. Registration with the SEC does not imply a certain level or skill or training.

The information on this website is for informational or educational purposes. The information is not intended as investment advice and is not a recommendation about managing or investing assets. In providing these materials, PGIM is not acting as your fiduciary.

Please click on this PGIM Funds plc disclosure linkopens in a new window for important information.

© 2025 Prudential Financial, Inc. (PFI) of the United States and its related entities.

PGIM Investments Logo
PGIM Investments Logo

You are viewing this page in preview mode.

Edit Page