PCWRX: PGIM Corporate Bond R

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PCWRX PGIM Corporate Bond R


Profile

PCWRX - Profile

Vitals

  • YTD Return 2.7%
  • 3 Yr Annualized Return 2.7%
  • 5 Yr Annualized Return N/A
  • Net Assets $35 M
  • Holdings in Top 10 11.9%

52 WEEK LOW AND HIGH

$12.01
$10.79
$12.04

Expenses

OPERATING RELATED FEES

  • Expense Ratio N/A

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 71.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jun 01, 2018
  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 2.7%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.88%
DIVIDENDS
  • Dividend Yield 1.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Corporate Bond Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    May 28, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Steven Kellner

Fund Description

The fund normally invests at least 80% of its investable assets in bonds of corporations with varying maturities. For purposes of this policy, bonds include all fixed-income securities, adjustable rate securities and floating rate securities, other than preferred stock, and corporations include all private issuers.


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Categories

Performance

PCWRX - Performance

Return Ranking - Trailing

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -2.4% 9.5% 19.36%
1 Yr 11.1% -3.2% 25.4% 2.69%
3 Yr 2.7%* -3.0% 5.6% 7.56%
5 Yr N/A* -3.0% 12.5% N/A
10 Yr N/A* -5.2% 3.9% N/A

* Annualized

Return Ranking - Calendar

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
2019 10.3% -1.7% 18.3% 2.58%
2018 -6.4% -11.7% 4.6% 95.94%
2017 2.9% -4.4% 8.3% 8.69%
2016 4.3% -7.8% 7.7% 1.51%
2015 N/A -18.3% 3.0% N/A

Total Return Ranking - Trailing

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -2.4% 9.5% 19.36%
1 Yr 11.1% -3.2% 25.4% 2.73%
3 Yr 2.7%* -3.0% 8.1% 16.42%
5 Yr N/A* -3.0% 12.5% N/A
10 Yr N/A* -1.3% 7.0% N/A

* Annualized

Total Return Ranking - Calendar

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
2019 10.3% -1.7% 18.3% 2.58%
2018 -6.4% -11.7% 6.5% 97.37%
2017 2.9% -4.4% 10.4% 17.55%
2016 4.3% -7.8% 10.7% 4.98%
2015 N/A -12.6% 4.2% N/A

NAV & Total Return History


Holdings

PCWRX - Holdings

Concentration Analysis

PCWRX Category Low Category High PCWRX % Rank
Net Assets 35 M 690 K 259 B 95.32%
Number of Holdings 245 1 17668 55.45%
Net Assets in Top 10 4.13 M -216 M 21.4 B 96.25%
Weighting of Top 10 11.88% 2.5% 100.0% 81.31%

Top 10 Holdings

  1. Liberty Mutual Group, Inc. 4.57% 1.66%
  2. Apple Inc. 3% 1.23%
  3. Puget Energy Inc 3.65% 1.21%
  4. JPMorgan Chase & Co. 3.2% 1.19%
  5. JPMorgan Chase & Co. 4.45% 1.17%
  6. Bank of America Corporation 3.82% 1.13%
  7. ILLINOIS ST 5.1% 1.10%
  8. Comcast Corporation 3.38% 1.07%
  9. Wells Fargo & Company 3% 1.06%
  10. University of Pennsylvania 3.61% 1.05%

Asset Allocation

Weighting Return Low Return High PCWRX % Rank
Bonds
91.45% 80.02% 159.74% 87.35%
Convertible Bonds
7.23% 0.00% 7.23% 0.14%
Cash
1.33% -59.74% 19.63% 58.31%
Stocks
0.00% -0.98% 25.43% 81.74%
Preferred Stocks
0.00% 0.00% 7.43% 84.28%
Other
0.00% -8.60% 31.85% 80.71%

Bond Sector Breakdown

Weighting Return Low Return High PCWRX % Rank
Corporate
90.14% 0.00% 99.62% 2.14%
Securitized
6.50% 0.00% 98.40% 44.37%
Cash & Equivalents
1.34% -29.57% 27.25% 65.59%
Municipal
1.25% 0.00% 100.11% 54.48%
Government
0.77% -2.21% 122.41% 54.81%
Derivative
0.00% -0.83% 22.35% 84.17%

Bond Geographic Breakdown

Weighting Return Low Return High PCWRX % Rank
US
81.90% 58.28% 156.78% 85.28%
Non US
9.55% -12.35% 26.76% 25.54%

Expenses

PCWRX - Expenses

Operational Fees

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 38.00% 0.11%
Management Fee 0.45% 0.00% 1.10% 70.76%
12b-1 Fee 0.75% 0.00% 1.00% 77.61%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 71.00% 0.00% 489.00% 67.39%

Distributions

PCWRX - Distributions

Dividend Yield Analysis

PCWRX Category Low Category High PCWRX % Rank
Dividend Yield 1.13% 0.00% 3.16% 11.58%

Dividend Distribution Analysis

PCWRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

PCWRX Category Low Category High PCWRX % Rank
Net Income Ratio 2.88% 0.00% 6.30% 34.16%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PCWRX - Fund Manager Analysis

Managers

Steven Kellner


Start Date

Tenure

Tenure Rank

May 28, 2015

4.68

4.7%

Steven A. Kellner, CFA, is Managing Director and Head of the Investment Grade Corporate Bond Team at PGIM Fixed Income. He also is the senior portfolio manager for the Corporate Fixed Income Strategy and a portfolio manager for multi-sector strategies. Previously, Mr. Kellner managed US corporate bonds for Prudential Financial’s proprietary fixed income portfolios. He initially joined Prudential Financial in 1986. After completing his MBA in Finance at The Wharton School of the University of Pennsylvania in 1987, Mr. Kellner rejoined the group as a municipal bond analyst. In addition to his MBA, Mr. Kellner received a BCE in Civil Engineering from Villanova University. He holds the Chartered Financial Analyst (CFA) designation.

Terence Wheat


Start Date

Tenure

Tenure Rank

Jul 11, 2018

1.56

1.6%

Terence Wheat, CFA, is Principal, global high yield portfolio manager and emerging markets corporate portfolio manager at Prudential Fixed Income. Previously, he was a high yield portfolio manager for Prudential Fixed Income's High Yield Team for six years. Mr. Wheat also spent 12 years as a credit analyst in Prudential Fixed Income's Credit Research Group, where he was responsible for the consumer products, gaming and leisure, retail, supermarkets, and textile/apparel industries. Mr. Wheat covered high yield bonds from 1998 to 2003, and investment grade issues from 1993 to 1998. Earlier, he worked for Prudential's Financial Management Group. Mr. Wheat joined Prudential in 1988. He received a BS in Accounting and an MBA from Rider University. Mr. Wheat holds the Chartered Financial Analyst (CFA) designation.

Alyssa Davis


Start Date

Tenure

Tenure Rank

Jul 11, 2018

1.56

1.6%

Alyssa Davis is a Vice President and portfolio manager for PGIM Fixed Income's Investment Grade Corporate Team. Prior to her current role, Ms. Davis was a credit analyst in PGIM Fixed Income's Credit Research Group. As an analyst, Ms. Davis helped cover the retail, supermarket, consumer products, gaming, food and beverage, tobacco, leisure, and lodging sectors for investment grade and non-investment grade bond portfolios. Previously, she was an investment analyst for PGIM Fixed Income’s Investment Strategy Team, and an investment operations specialist for two different investment management product teams. Ms. Davis joined the Firm in 1997. She received a BS in Finance from Bryant College.

David Del Vecchio


Start Date

Tenure

Tenure Rank

Apr 25, 2019

0.77

0.8%

David Del Vecchio is a Principal and portfolio manager for PGIM Fixed Income’s Investment Grade Corporate Bond Team. Mr. Del Vecchio’s responsibilities include intermediate and short corporate strategies as well as corporate security selection in intermediate and short multi-sector strategies. Prior to his current role, Mr. Del Vecchio was a taxable money markets portfolio manager for the Money Markets Group, responsible for managing proprietary fixed income accounts, as well as the securities lending portfolios. Prior to joining the Money Markets Group in 2000, he was responsible for the lending/repurchase agreements of US government, agency, and STRIP securities in PGIM Fixed Income’s Securities Lending Group. Mr. Del Vecchio joined Prudential Financial in 1995. He received a BS in Business Administration with a specialization in Finance from The College of New Jersey, and an MBA in Finance from New York University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 33.19 7.42 0.08