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PURBX Prudential Global Real Estate B

  • Fund
  • PURBX
  • Price as of: Aug 18, 2017
  • $23.28
  • - $0.11
  • - 0.47%
  • Category
  • Global Real Estate

PURBX - Profile

Vitals

  • YTD Return 4.3%
  • 3 Yr Annualized Return 1.7%
  • 5 Yr Annualized Return 5.9%
  • Net Assets $2.69 B
  • Holdings in Top 10 21.8%

52 WEEK LOW AND HIGH

$23.28
$21.63
$25.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.94%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 80.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2014-06-23

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Global Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Global Real Estate

Distributions

  • YTD Total Return 4.3%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 5.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.15%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Prudential Global Real Estate Fund
  • Fund Family Name PGIM Investments
  • Inception Date May 05, 1998
  • Shares Outstanding N/A
  • Share Class B
  • Currency USD
  • Domiciled Country United States
  • Manager Rick J. Romano

PURBX - Performance

Return Ranking - Trailing

Period PURBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.3% -34.4% 25.5% 65.57% 4
1 Yr -1.2% -38.5% 19.3% 75.96% 4
3 Yr 1.7% * -1.9% 8.3% 78.98% 4
5 Yr 5.9% * 2.7% 10.8% 77.71% 4
10 Yr 1.8% * -5.0% 5.1% 47.17% 3

* Annualized


Return Ranking - Calendar

Period PURBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.8% -31.0% 42.6% 50.27% 4
2015 -3.4% -51.8% 1.5% 35.09% 3
2014 10.9% -44.3% 19.4% 37.28% 3
2013 1.0% -17.6% 6.8% 26.03% 2
2012 22.7% 0.0% 43.2% 51.82% 3

Total Return Ranking - Trailing

Period PURBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.3% -34.4% 25.5% 65.93% 4
1 Yr -6.0% -37.1% 19.3% 91.26% 5
3 Yr 0.8% * -3.7% 8.3% 83.52% 5
5 Yr 5.8% * 1.7% 10.8% 76.43% 4
10 Yr 1.8% * -5.5% 5.1% 44.34% 3

* Annualized


Total Return Ranking - Calendar

Period PURBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -2.8% -29.6% 46.1% 62.64% 4
2015 -0.9% -9.3% 3.8% 48.82% 3
2014 14.1% -6.7% 61.9% 64.29% 4
2013 3.1% -16.6% 15.2% 66.21% 4
2012 29.8% 0.0% 84.7% 82.22% 5

NAV & Total Return History

PURBX - Holdings

Filings data as of: May 31, 2017

Concentration Analysis

PURBX Category Low Category High PURBX % Rank Quintile
Net Assets 2.69 B 1.21 M 5.87 B 2.17% 1
Number of Holdings 129 22 671 5.98% 1
Net Assets in Top 10 598 M 443 K 4.22 B 3.80% 1
Weighting of Top 10 21.8% 16.0% 73.3% 32.07% 5

Top 10 Holdings

  1. Simon Property Group Inc 2.56%
  2. Sun Hung Kai Properties Ltd 2.49%
  3. Equity Residential 2.77%
  4. Ventas Inc 2.41%
  5. Unibail-Rodamco SE 2.26%
  6. Camden Property Trust 2.21%
  7. Hudson Pacific Properties Inc 1.73%
  8. Mitsui Fudosan Co Ltd 1.93%
  9. Forest City Realty Trust Inc Class A 1.74%
  10. Vonovia SE 1.73%

Asset Allocation

Weighting Category Low Category High PURBX % Rank Quintile
Stocks
98.23% 60.80% 100.00% 9.78% 2
Other
1.70% 0.00% 8.70% 15.22% 2
Cash
0.07% -0.23% 18.89% 27.72% 5
Preferred Stocks
0.00% 0.00% 13.36% 1.63% 2
Convertible Bonds
0.00% 0.00% 0.32% 1.09% 2
Bonds
0.00% 0.00% 18.48% 1.63% 2

Stock Sector Breakdown

Weighting Category Low Category High PURBX % Rank Quintile
Real Estate
96.50% 55.36% 100.00% 7.61% 2
Consumer Cyclical
1.26% 0.00% 17.37% 16.30% 3
Healthcare
0.46% 0.00% 4.17% 8.70% 2
Utilities
0.00% 0.00% 2.58% 2.17% 2
Technology
0.00% 0.00% 3.06% 5.98% 2
Industrials
0.00% 0.00% 5.94% 8.15% 2
Financial Services
0.00% 0.00% 6.92% 8.70% 2
Energy
0.00% 0.00% 1.77% 1.09% 2
Communication Services
0.00% 0.00% 5.41% 9.78% 3
Consumer Defense
0.00% 0.00% 0.00% 0.54% 1
Basic Materials
0.00% 0.00% 2.06% 5.43% 2

Stock Geographic Breakdown

Weighting Category Low Category High PURBX % Rank Quintile
US
54.08% 0.00% 98.73% 7.61% 2
Non US
44.15% 0.00% 98.17% 22.83% 4

PURBX - Expenses

Operational Fees

PURBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.94% 0.13% 5.96% 21.74% 4
Management Fee 0.75% 0.10% 1.20% 8.15% 2
12b-1 Fee 1.00% 0.00% 1.00% 0.91% 4
Administrative Fee N/A 0.01% 0.26% N/A N/A

Sales Fees

PURBX Fees (% of AUM) Category Low Category High PURBX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load 5.00% 1.00% 5.00% 2.38% 4

Trading Fees

PURBX Fees (% of AUM) Category Low Category High PURBX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PURBX Fees (% of AUM) Category Low Category High PURBX Rank Quintile
Turnover 80.00% 1.00% 289.00% 9.78% 4

PURBX - Distributions

Dividend Yield Analysis

PURBX Category Low Category High PURBX % Rank Quintile
Dividend Yield 0.2% 0.01% 1.15% 66.47% 4

Dividend Distribution Analysis

PURBX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PURBX Category Low Category High PURBX % Rank Quintile
Net Income Ratio 1.15% -0.57% 5.25% 48.37% 4

Capital Gain Distribution Analysis

PURBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PURBX - Managers

Rick J. Romano

Manager

Start Date

Jan 31, 2007

Tenure

10.42

Tenure Rank

4.8%

Rick J. Romano, CFA, is a Managing Director and Portfolio Manager for PGIM Real Estate. He is responsible for management of the group's North American public securities investments. Mr. Romano joined Prudential in 1998 from Rockefeller & Co., an investment management firm for the Rockefeller family and other high net worth clients. At Rockefeller & Co., Mr. Romano was an Equity Analyst for three investment partnerships. He was responsible for covering real estate and leisure stocks globally and served as a generalist covering domestic equity securities. Prior to joining Rockefeller & Co., Mr. Romano was a Senior Investment Analyst at the Prudential Realty Group where he worked on the valuation, asset management and portfolio management. Mr. Romano has served on the board of several private real estate companies. He is also a member of the CFA Institute (CFA), the New York Society of Security Analysts (NYSSA) and NAREIT. Mr. Romano received a BA from Rutgers College and a MBA in Finance from New York University's Stern School of Business. In addition, he is a CFA charter holder.


Michael Gallagher

Manager

Start Date

Jun 10, 2013

Tenure

4.06

Tenure Rank

13.6%

Michael Gallagher is a Director for Prudential Real Estate Investors based in London. He is the Portfolio Manager for the European real estate securities. Prior to joining Prudential, Mr. Gallagher was the Assistant Fund Manager for Global Real Estate Securities at Aviva Investors (London) where he was responsible for portfolio construction and stock selection of European real estate securities. Prior to Aviva, Mr. Gallagher was a Vice President of Citigroup (London) where he covered diversified financials and the real estate sector. At Citigroup, Mr. Gallagher was responsible for modeling and research for companies under his coverage. Mr. Gallagher came to Citigroup from Deutsche Bank (London /Frankfurt) where he was a pan European equity analyst covering bank stocks and diversified German companies. Mr. Gallagher holds a BA in Economics from Harvard University, magna cum laude and was the recipient of the Harvard College Scholarship. Mr. Gallagher also holds a MA in International Political Economy from Cornell University where he was awarded the Mellon Foundation Scholarship. Mr. Gallagher speaks several languages including English (native), German, French, Italian and Portuguese.


Marc Richard Halle

Lead Manager

Start Date

Jan 31, 2007

Tenure

10.42

Tenure Rank

4.8%

Marc R. Halle is a Managing Director for PGIM Real Estate and Senior Portfolio Manager and Chief Investment Officer for all global real estate securities funds and investments. Mr. Halle is also a member of the firm’s Global Investment Committee for all significant direct real estate investments. Mr. Halle has extensive experience in real estate capital markets, securities, development, acquisition and finance. Mr. Halle joined Prudential in 1999 to launch the real estate private equity group, an opportunistic investment strategy that arbitraged the public and private real estate markets. He formed the global real estate securities team in 2006 and has led the group since its inception. Mr. Halle joined Prudential from Alpine Management & Research, where he was the COO of the firm and Portfolio Manager for real estate securities funds. Prior to forming Alpine, Mr. Halle was with Evergreen Asset Management, where he was jointly responsible for research, investment analysis and portfolio recommendations for real estate securities. Previously, Mr. Halle was Senior Vice President and COO of W&M Properties (Empire State Realty Trust-NYSE: ESRT), a national real estate investment firm. Prior to W&M, Mr. Halle was a VP with Greenthal Realty, a New York based real estate firm that owned and operated multi-family properties throughout the NYC metropolitan area. In January 2011, Mr. Halle was featured in both The Wall Street Journal and Smart Money Magazine and named as one of “America’s Best Mutual Fund Managers” for long term consistent performance. He is a member of the Investor Advisory Council of the National Association of Real Estate Investment Trusts (NAREIT), and is affiliated with the International Council of Shopping Centers (ICSC).


Kwok Wing Cheong

Manager

Start Date

May 29, 2015

Tenure

2.09

Tenure Rank

16.7%

Kwok Wing Cheong, CFA, is a Portfolio Manager for PREI and is responsible for the management of the group's public securities investments in South Asia and Australasia. He has spent more than 20 years in the industry as a portfolio manager and equity analyst. Prior to joining Prudential, Mr. Cheong was with HSBC Global Asset Management where he was responsible for their Singapore and Thailand dedicated country fund and was part of the team overseeing the HSBC Asia Ex-Japan mandate. Between 1991 and 2005, Mr. Cheong was an equity analyst at UBS Securities, Merrill Lynch and OUB Securities. He holds a Bachelor of Business (Accounting) from Curtin University (Australia), is a CFA charterholder and a Certified Practicing Accountant (CPA).


Tenure Analysis

Category Low

0.0

Category High

28.4

Category Average

7.14

Category Mode

2.5