PIFEX: PGIM Short-Term Corporate Bond R2

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PIFEX PGIM Short-Term Corporate Bond R2

  • Fund
  • PIFEX
  • Price as of: Jan 17, 2020
  • $11.17
    + $0.01 + 0.09%

Profile

PIFEX - Profile

Vitals

  • YTD Return 0.2%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $9.85 B
  • Holdings in Top 10 6.7%

52 WEEK LOW AND HIGH

$11.17
$10.77
$11.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 83.41%

SALES FEES

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

BROKERAGE FEES

  • Turnover 36.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.13%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Short-Term Corporate Bond Fund- Class R2
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Dec 27, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Steven Kellner

Fund Description

The fund invests, under normal circumstances, 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, other than preferred stock, and corporations include all private issuers. The effective duration of the fund's portfolio is generally less than three years.


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Categories

Performance

PIFEX - Performance

Return Ranking - Trailing

Period PIFEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -0.8% 0.7% 48.78%
1 Yr 3.8% -6.6% 6.7% 10.32%
3 Yr N/A* -3.8% 3.8% 10.08%
5 Yr N/A* -20.2% 3.3% 7.32%
10 Yr N/A* -10.3% 2.7% 4.40%

* Annualized

Return Ranking - Calendar

Period PIFEX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -6.6% 4.9% 4.52%
2018 -2.2% -4.1% 1.0% 74.63%
2017 N/A -0.7% 2.8% N/A
2016 N/A -65.8% 7.1% N/A
2015 N/A -6.6% 3.0% N/A

Total Return Ranking - Trailing

Period PIFEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -0.8% 0.7% 48.78%
1 Yr 3.8% -6.6% 6.7% 10.32%
3 Yr N/A* -3.8% 3.8% 10.08%
5 Yr N/A* -18.6% 3.3% 13.01%
10 Yr N/A* -8.7% 2.9% 5.49%

* Annualized

Total Return Ranking - Calendar

Period PIFEX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -6.6% 4.9% 4.52%
2018 -2.2% -4.1% 3.2% 81.34%
2017 N/A -0.7% 4.7% N/A
2016 N/A -65.2% 8.4% N/A
2015 N/A -5.3% 3.1% N/A

NAV & Total Return History


Holdings

PIFEX - Holdings

Concentration Analysis

PIFEX Category Low Category High PIFEX % Rank
Net Assets 9.85 B 272 K 62.1 B 5.49%
Number of Holdings 579 7 2023 30.86%
Net Assets in Top 10 657 M -5.43 M 5.5 B 21.60%
Weighting of Top 10 6.71% 6.6% 140.4% 98.15%

Top 10 Holdings

  1. PALMER SQUARE CLO 2015-1 LTD/LLC 3.11% 0.82%
  2. Ticp Clo Ltd 3.2% 0.75%
  3. AbbVie Inc. 2.95% 0.74%
  4. Energy Transfer Operating L P 5.88% 0.72%
  5. Kraft Heinz Foods Company 3% 0.69%
  6. Citigroup Inc. 2.7% 0.65%
  7. AT&T Inc 3.4% 0.60%
  8. Diamondback Energy Inc 2.88% 0.59%
  9. Elevation CLO 2015-4 Ltd 2.99% 0.58%
  10. Mitsubishi UFJ Financial Group, Inc. 2.62% 0.58%

Asset Allocation

Weighting Return Low Return High PIFEX % Rank
Bonds
91.68% 22.39% 137.59% 63.58%
Convertible Bonds
4.13% 0.00% 4.79% 9.88%
Cash
4.01% -50.76% 77.61% 37.65%
Preferred Stocks
0.18% 0.00% 35.55% 10.49%
Stocks
0.00% 0.00% 8.19% 96.91%
Other
0.00% -0.12% 13.17% 90.12%

Bond Sector Breakdown

Weighting Return Low Return High PIFEX % Rank
Corporate
81.38% 2.58% 96.07% 7.41%
Securitized
13.30% 0.00% 68.70% 80.25%
Cash & Equivalents
4.25% 0.00% 77.61% 61.11%
Government
1.03% -3.22% 57.42% 79.01%
Municipal
0.04% 0.00% 13.57% 46.91%
Derivative
0.00% -0.09% 21.46% 93.83%

Bond Geographic Breakdown

Weighting Return Low Return High PIFEX % Rank
US
70.12% 0.00% 137.59% 69.14%
Non US
21.56% 0.00% 84.14% 34.57%

Expenses

PIFEX - Expenses

Operational Fees

PIFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 83.41% 0.02% 83.41% 0.63%
Management Fee 0.40% 0.00% 1.19% 66.46%
12b-1 Fee 0.25% 0.00% 1.00% 53.57%
Administrative Fee N/A 0.05% 0.41% N/A

Sales Fees

PIFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PIFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

PIFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 36.00% 0.00% 573.00% 22.67%

Distributions

PIFEX - Distributions

Dividend Yield Analysis

PIFEX Category Low Category High PIFEX % Rank
Dividend Yield 0.61% 0.00% 1.93% 51.83%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PIFEX Category Low Category High PIFEX % Rank
Net Income Ratio 2.13% -2.82% 3.78% 72.78%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PIFEX - Fund Manager Analysis

Managers

Steven Kellner


Start Date

Tenure

Tenure Rank

Aug 11, 1999

20.4

20.4%

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.

David Del Vecchio


Start Date

Tenure

Tenure Rank

Dec 31, 2012

7.0

7.0%

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.

Matthew Csontos


Start Date

Tenure

Tenure Rank

Apr 25, 2019

0.68

0.7%

Matthew Csontos is an Associate and portfolio manager for PGIM Fixed Income's U. S. Investment Grade Corporate Bond Team. His primary responsibilities include management and investment of intermediate and short corporate strategies and corporate security selection in multi-sector strategies. Prior to his current role, Mr. Csontos supported management and investment of the investment grade corporate portfolios within the General Account. From 2012 to 2015, Mr. Csontos was an Investment Analyst in Credit Research supporting senior credit analysts in the investment grade TMT and Energy sectors as well as leading coverage of the investment grade Semiconductor sector. Prior to joining PGIM Fixed Income in 2012, he held a Summer Analyst role in the credit research group at Morgan Stanley Investment Management. Mr. Csontos received a BA in Economics from Virginia Tech.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 23.58 5.2 2.91