PXBAX: PGIM International Bond A

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PXBAX PGIM International Bond A


Profile

PXBAX - Profile

Vitals

  • YTD Return -7.2%
  • 3 Yr Annualized Return -2.2%
  • 5 Yr Annualized Return N/A
  • Net Assets $44.4 M
  • Holdings in Top 10 20.4%

52 WEEK LOW AND HIGH

$9.47
$9.13
$10.90

Expenses

OPERATING RELATED FEES

  • Expense Ratio 9.63%

SALES FEES

  • Front Load 3.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $1,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style World Bond-USD Hedged

Distributions

  • YTD Total Return -7.2%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM International Bond Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Dec 14, 2016
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Tipp

Fund Description

Under normal market conditions, the fund invests at least 80% of its investable assets in bonds with varying maturities. It primarily invests in fixed or floating rate fixed income instruments of foreign corporations and governments that are denominated in USD or foreign currencies. The fund may invest up to 35% of its total assets in high yield fixed income instruments (commonly referred to as "junk" bonds). It may invest up to 25% of its net assets in derivative instruments. The fund is non-diversified.


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Categories

Performance

PXBAX - Performance

Return Ranking - Trailing

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.2% -18.8% 8.3% 52.63%
1 Yr -6.6% -21.6% 9.7% 58.89%
3 Yr -2.2%* -9.9% 4.6% 49.30%
5 Yr N/A* -8.6% 1.0% N/A
10 Yr N/A* -6.2% -0.2% N/A

* Annualized

Return Ranking - Calendar

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.9% -6.5% 9.4% 58.43%
2018 -7.6% -18.5% 3.1% 53.25%
2017 4.6% 0.1% 10.8% 57.35%
2016 N/A -12.3% 8.7% N/A
2015 N/A -21.1% 6.0% N/A

Total Return Ranking - Trailing

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.2% -18.8% 8.3% 52.63%
1 Yr -6.6% -21.6% 9.7% 58.89%
3 Yr -2.2%* -8.2% 4.6% 57.75%
5 Yr N/A* -8.3% 1.8% N/A
10 Yr N/A* -6.0% 3.0% N/A

* Annualized

Total Return Ranking - Calendar

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.9% -6.5% 9.4% 58.43%
2018 -7.6% -18.5% 3.1% 58.44%
2017 4.6% 0.1% 12.6% 60.29%
2016 N/A -12.3% 8.9% N/A
2015 N/A -21.1% 10.2% N/A

NAV & Total Return History


Holdings

PXBAX - Holdings

Concentration Analysis

PXBAX Category Low Category High PXBAX % Rank
Net Assets 44.4 M 7.29 M 150 B 82.11%
Number of Holdings 1266 5 5741 8.42%
Net Assets in Top 10 9.04 M 2.4 M 10.1 B 90.53%
Weighting of Top 10 20.44% 6.8% 99.8% 76.25%

Top 10 Holdings

  1. United Kingdom of Great Britain and Northern Ireland 4.25% 3.55%
  2. Spain (Kingdom of) 4.65% 2.73%
  3. Italy (Republic Of) 5.12% 2.61%
  4. Italy (Republic Of) 3.35% 2.14%
  5. Portugal (Republic Of) 3.88% 2.11%
  6. Republic of Colombia 3.88% 1.76%
  7. Portugal (Republic Of) 4.1% 1.46%
  8. Cyprus (Republic Of) 3.75% 1.41%
  9. Ukraine (Republic of) 6.75% 1.40%
  10. Brazil Minas SPE 5.33% 1.28%

Asset Allocation

Weighting Return Low Return High PXBAX % Rank
Bonds
89.06% 82.25% 2295.09% 84.21%
Cash
10.19% -2222.56% 17.68% 17.89%
Stocks
0.75% 0.00% 102.31% 20.00%
Preferred Stocks
0.00% 0.00% 0.08% 65.26%
Other
0.00% -6.55% 20.17% 71.58%
Convertible Bonds
0.00% 0.00% 36.72% 85.26%

Bond Sector Breakdown

Weighting Return Low Return High PXBAX % Rank
Derivative
69.18% 0.00% 69.18% 4.21%
Government
16.75% 7.90% 79.20% 94.74%
Corporate
6.94% 0.00% 89.75% 80.00%
Cash & Equivalents
4.08% 0.53% 30.93% 62.11%
Securitized
3.04% 0.00% 6.60% 14.74%
Municipal
0.00% 0.00% 0.22% 66.32%

Bond Geographic Breakdown

Weighting Return Low Return High PXBAX % Rank
Non US
72.30% 0.00% 2189.45% 92.63%
US
16.76% 0.00% 717.21% 23.16%

Expenses

PXBAX - Expenses

Operational Fees

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 9.63% 0.01% 43.49% 2.20%
Management Fee 0.50% 0.00% 1.64% 30.53%
12b-1 Fee 0.25% 0.00% 1.00% 60.53%
Administrative Fee N/A 0.03% 0.45% N/A

Sales Fees

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 2.50% 5.75% 94.74%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.50% 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.

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 0.00% 129.00% 32.50%

Distributions

PXBAX - Distributions

Dividend Yield Analysis

PXBAX Category Low Category High PXBAX % Rank
Dividend Yield 0.00% 0.00% 1.38% 67.37%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PXBAX Category Low Category High PXBAX % Rank
Net Income Ratio 1.35% -0.78% 6.35% 70.33%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PXBAX - Fund Manager Analysis

Managers

Robert Tipp


Start Date

Tenure

Tenure Rank

Dec 14, 2016

3.21

3.2%

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.

Michael Collins


Start Date

Tenure

Tenure Rank

Dec 14, 2016

3.21

3.2%

Michael J. Collins, CFA, is a Managing Director and Senior Portfolio Manager for Core, Core Plus, Absolute Return, and other Multi-Sector Fixed Income strategies. Previously, Mr. Collins was a High Yield Portfolio Manager and Fixed Income Investment Strategist. Earlier he was a credit research analyst, covering investment grade and high yield corporate credits. Additionally, he developed proprietary quantitative international interest rate and currency valuation models for our global bond unit. Mr. Collins began his career at the Firm in 1986 as a software applications designer. He received a BS in Mathematics and Computer Science from the State University of New York at Binghamton and an MBA in Finance from New York University. Mr. Collins holds the Chartered Financial Analyst (CFA) designation and is a Fellow of the Life Management Institute (FLMI). Named Morningstar’s 2017 Fixed Income Manager of The Year for Prudential Total Return Bond Fund.

Matthew Angelucci


Start Date

Tenure

Tenure Rank

Oct 31, 2018

1.33

1.3%

Matthew Angelucci, CFA, is a Principal and portfolio manager for PGIM Fixed Income’s Global Team. Mr. Angelucci’s primary portfolio management responsibilities include country and sector allocation, duration management, and issue selection within government and sovereign securities and derivatives across global multi-sector portfolios and relative value hedge funds. Prior to assuming his current position, he was a financial analyst in the Portfolio Analysis Group of PGIM Fixed Income, responsible for performance attribution and providing daily risk analysis and analytic support to the Global Government portfolio management team. Mr. Angelucci joined the Firm in 2005. He received a BS in Corporate Finance and Accounting from Bentley University. Mr. Angelucci holds the Chartered Financial Analyst (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.27 26.22 6.09 26.22