PBGPX: PGIM Government Income B

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PBGPX PGIM Government Income B


Profile

PBGPX - Profile

Vitals

  • YTD Return 4.0%
  • 3 Yr Annualized Return 1.8%
  • 5 Yr Annualized Return 0.5%
  • Net Assets $445 M
  • Holdings in Top 10 28.9%

52 WEEK LOW AND HIGH

$10.08
$9.41
$10.16

Expenses

OPERATING RELATED FEES

  • Expense Ratio 3.79%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 143.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jun 23, 2014
  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification


Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.71%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Government Income Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Apr 22, 1985
  • Shares Outstanding
    N/A
  • Share Class
    B
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Tipp

Fund Description

The fund invests at least 80% of its investable assets in U.S. government securities, including U.S. Treasury bills, notes, bonds, strips and other debt securities issued by the U.S. Treasury, and obligations, including mortgage-related securities, issued or guaranteed by U.S. government agencies or instrumentalities. Its investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.


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Categories

Performance

PBGPX - Performance

Return Ranking - Trailing

Period PBGPX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -3.1% 8.4% 52.68%
1 Yr 6.2% -2.2% 12.3% 54.63%
3 Yr 1.8%* -1.7% 3.8% 52.87%
5 Yr 0.5%* -1.9% 2.5% 37.58%
10 Yr 0.7%* -2.2% 3.5% 14.69%

* Annualized

Return Ranking - Calendar

Period PBGPX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -0.4% 4.9% 32.02%
2018 -2.0% -3.4% -0.7% 52.88%
2017 0.1% -2.3% 0.9% 24.56%
2016 0.0% -3.3% 1.4% 5.59%
2015 -2.2% -4.5% 0.2% 79.22%

Total Return Ranking - Trailing

Period PBGPX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -3.1% 8.4% 52.68%
1 Yr 6.2% -2.2% 12.3% 54.15%
3 Yr 1.9%* -1.4% 5.0% 56.32%
5 Yr 0.9%* -1.9% 3.3% 33.12%
10 Yr 1.3%* -2.2% 3.8% 32.87%

* Annualized

Total Return Ranking - Calendar

Period PBGPX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -0.2% 4.9% 35.96%
2018 -2.0% -3.4% 3.0% 63.87%
2017 0.6% -2.0% 2.8% 21.05%
2016 0.4% -3.3% 1.5% 20.50%
2015 -1.1% -4.5% 2.0% 38.96%

NAV & Total Return History


Holdings

PBGPX - Holdings

Concentration Analysis

PBGPX Category Low Category High PBGPX % Rank
Net Assets 445 M 2.38 M 24.9 B 70.24%
Number of Holdings 653 2 15659 20.00%
Net Assets in Top 10 131 M 0 6.43 B 65.37%
Weighting of Top 10 28.94% 0.0% 100.0% 62.83%

Top 10 Holdings

  1. United States Treasury Bonds 3.75% 6.78%
  2. United States Treasury Bonds 3.62% 5.99%
  3. United States Treasury Bonds 2.88% 4.92%
  4. United States Treasury Notes 2.88% 2.82%
  5. U.S. Treasury Security Stripped Interest Security 0% 2.01%
  6. Cd 2019-Cd8 Mortgage Trust 2.66% 1.40%
  7. BBCMS MORTGAGE TRUST 2.66% 1.40%
  8. Government National Mortgage Association 3% 1.28%
  9. Federal National Mortgage Association 3.5% 1.24%
  10. U.S. Treasury Security Stripped Interest Security 0% 1.10%

Asset Allocation

Weighting Return Low Return High PBGPX % Rank
Bonds
96.43% 0.00% 140.64% 52.20%
Cash
3.57% -40.55% 100.00% 49.76%
Stocks
0.00% -0.07% 12.90% 92.68%
Preferred Stocks
0.00% 0.00% 0.01% 94.63%
Other
0.00% -40.98% 15.10% 89.27%
Convertible Bonds
0.00% 0.00% 0.24% 94.63%

Bond Sector Breakdown

Weighting Return Low Return High PBGPX % Rank
Securitized
58.91% 0.00% 118.57% 49.76%
Government
36.22% 0.00% 100.00% 49.27%
Cash & Equivalents
3.47% -28.81% 100.00% 63.90%
Corporate
1.39% 0.00% 4.61% 13.66%
Derivative
0.01% -0.01% 10.87% 14.15%
Municipal
0.00% 0.00% 14.98% 95.61%

Bond Geographic Breakdown

Weighting Return Low Return High PBGPX % Rank
US
93.04% 0.00% 139.29% 65.85%
Non US
3.39% 0.00% 4.80% 3.90%

Expenses

PBGPX - Expenses

Operational Fees

PBGPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.79% 0.03% 3.79% 0.49%
Management Fee 0.50% 0.00% 0.85% 86.83%
12b-1 Fee 1.00% 0.00% 1.00% 98.25%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

PBGPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load 5.00% 1.00% 5.50% 13.33%

Trading Fees

PBGPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

PBGPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 143.00% 0.00% 1482.00% 65.09%

Distributions

PBGPX - Distributions

Dividend Yield Analysis

PBGPX Category Low Category High PBGPX % Rank
Dividend Yield 0.00% 0.00% 2.52% 98.05%

Dividend Distribution Analysis

PBGPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PBGPX Category Low Category High PBGPX % Rank
Net Income Ratio 0.71% 0.34% 2.99% 99.02%

Capital Gain Distribution Analysis

PBGPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

PBGPX - Fund Manager Analysis

Managers

Robert Tipp


Start Date

Tenure

Tenure Rank

Nov 30, 2003

16.26

16.3%

Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds for PGIM Fixed Income. In addition to comanaging the Global Aggregate Plus strategy, Mr. Tipp is responsible for global rates positioning for Core Plus, Absolute Return, and other portfolios. Mr. Tipp has worked at the Firm since 1991, where he has held a variety of senior investment manager and strategist roles. Prior to joining the Firm, he was a Director in the Portfolio Strategies Group at the First Boston Corporation, where he developed, marketed, and implemented strategic portfolio products for money managers. Before that, Mr. Tipp was a Senior Staff Analyst at the Allstate Research & Planning Center, and managed fixed income and equity derivative strategies at Wells Fargo Investment Advisors. He received a BS in Business Administration and an MBA from the University of California, Berkeley. Mr. Tipp holds the Chartered Financial Analyst (CFA) designation. Named Morningstar’s 2017 Fixed Income Manager of The Year for PGIM Total Return Bond Fund.

Craig Dewling


Start Date

Tenure

Tenure Rank

Apr 30, 2007

12.84

12.8%

Craig Dewling is a Managing Director and Head of the Multi-Sector and Liquidity Team at PGIM Fixed Income. In this role, Mr. Dewling has portfolio management and trading oversight for US Treasuries and government agency securities, mortgage-backed securities, structured product securities, and interest rate derivative transactions for all strategies, products, and distribution channels. He is also a senior portfolio manager for US Government, mortgage-backed securities, insurance strategies, and multi-sector fixed income portfolios. He has specialized in mortgage-backed securities since 1991. Earlier, he was a taxable bond generalist for Prudential's proprietary accounts, specializing in US Treasuries and agencies. Mr. Dewling joined the Firm in 1987 in the Securities Systems Group. Mr. Dewling received a BS in Quantitative Business Analysis from The Pennsylvania State University and an MBA in Finance from Rutgers University.

Erik Schiller


Start Date

Tenure

Tenure Rank

Dec 31, 2012

7.17

7.2%

Erik Schiller, CFA, is a Managing Director and Head of Developed Market Interest Rates for PGIM Fixed Income's Multi-Sector and Liquidity Team, specializing in government securities, futures, interest rate swaps/derivatives, and agency debentures. Mr. Schiller holds a senior portfolio management role where he develops portfolio strategy, performs quantitative analysis, and designs and implements risk positions within the liquidity relative value strategy portfolios, multi-sector fixed income portfolios, liability-driven portfolios, and government securities focused mutual funds. He has held this role since 2006. Formerly, Mr. Schiller was a Vice President for PGIM Fixed Income's US Liquidity Sector Team, and previously a hedge fund analyst within the Portfolio Analysis Group. Mr. Schiller joined the Firm in 2000 as an operations associate in the mortgage-backed securities group. He received a BA with high honors in Economics from Hobart College and holds the Chartered Financial Analyst (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.35 29.38 8.11 5.1