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Name

As of 10/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM International Bond Fund

PXBAX | Fund

$7.07

$28.7 M

0.00%

4.29%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$28.7 M

Holdings in Top 10

27.0%

52 WEEK LOW AND HIGH

$7.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 4.29%

SALES FEES

Front Load 3.25%

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM International Bond Fund

PXBAX | Fund

$7.07

$28.7 M

0.00%

4.29%

PXBAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.29%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM International Bond Fund
  • Fund Family Name
    PRUDENTIAL
  • Inception Date
    Dec 14, 2016
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Tipp

Fund Description

The Fund seeks investments that will increase over time in value, as well as pay the Fund interest and other income. Under normal market conditions, the Fund invests at least 80% of its investable assets in bonds with varying maturities. For the purposes of this policy, bonds include all fixed income instruments, including debentures, notes, commercial paper and other similar types of debt instruments, mortgage-related securities, asset-backed securities, currencies, loan assignments and participations, money market instruments, and derivatives related to or referencing these types of securities and instruments. The term “investable assets” refers to the Fund’s net assets plus any borrowings for investment purposes. The Fund’s investable assets will be less than its total assets to the extent that the Fund has borrowed money for non-investment purposes, such as to meet redemptions.In managing the Fund’s assets, the subadviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy and market trends. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk. The Fund may invest in a security based upon the expected total return rather than the yield of such security.The Fund primarily invests in fixed or floating rate fixed income instruments of foreign corporations and governments that are denominated in U.S. dollars or foreign currencies. Under normal market conditions the Fund invests in at least three foreign countries. Foreign government fixed income instruments include securities issued by quasi-governmental entities, government agencies, supranational entities and other governmental entities denominated in foreign currencies or U.S. dollars. The Fund invests in securities of emerging market countries.Up to 35% of the Fund's total assets may be invested in lower-rated securities and unrated securities, including unrated securities that the subadviser determines are of comparable quality to below investment grade securities.The Fund may invest up to 25% of its net assets in derivative instruments, including futures, options, options on futures, foreign currency forward contracts, and swaps, to try to enhance return or to reduce (“hedge”) investmentrisks. The subadviser currently expects to hedge all or a portion of the Fund’s foreign currency exposure (which includes investments in derivatives), although the subadviser has no obligation to doso.The Fund may invest in mortgage-related securities issued or guaranteed by government and private issuers. Privately issued mortgage-related securities that are not guaranteed by governmental entities generally have one or more types of credit enhancement to ensure timely receipt of payments and to protect against default. Private issuer mortgage-backed securities may include loans on commercial or residential properties.Asset-backed securities in which the Fund may invest are issued in the form of debt instruments that may include collateralized debt obligations (“CDOs”), which may include collateralized bond obligations (“CBOs”) and collateralized loan obligations (“CLOs”).The Fund is “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means that it can invest its assets in a smaller number of issuers than a “diversified” fund.
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PXBAX - Performance

Return Ranking - Trailing

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -15.2% -2.4% 99.23%
1 Yr N/A -10.4% -2.5% 99.24%
3 Yr N/A* -1.2% 4.2% 95.76%
5 Yr N/A* -0.1% 3.7% 55.67%
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Return Ranking - Calendar

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -9.4% -0.6% 98.39%
2022 N/A -1.3% 7.0% 84.07%
2021 N/A 0.5% 200.9% 63.30%
2020 N/A -15.5% 3.1% 99.00%
2019 N/A -0.6% 30.6% 23.08%

Total Return Ranking - Trailing

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -15.2% -2.4% 99.23%
1 Yr N/A -12.6% -2.5% 100.00%
3 Yr N/A* -1.6% 4.2% 100.00%
5 Yr N/A* -0.1% 3.7% 80.41%
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Total Return Ranking - Calendar

Period PXBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -9.4% -0.6% 98.39%
2022 N/A -1.3% 7.0% 84.07%
2021 N/A 0.5% 200.9% 63.30%
2020 N/A -15.5% 3.3% 99.00%
2019 N/A 0.1% 30.6% 23.08%

NAV & Total Return History

PXBAX - Holdings

Concentration Analysis

PXBAX Category Low Category High PXBAX % Rank
Net Assets 28.7 M 21.8 M 93.5 B 93.13%
Number of Holdings 294 5 7040 34.85%
Net Assets in Top 10 7.75 M -839 M 6.06 B 71.97%
Weighting of Top 10 27.01% 6.1% 100.0% 55.30%

Top 10 Holdings

  1. French Republic Government Bond OAT 3.40%
  2. Republic of Italy Government International Bond 3.39%
  3. Export-Import Bank of China/The 2.97%
  4. Bundesschatzanweisungen 2.88%
  5. Spain Government International Bond 2.71%
  6. (PIPA070) PGIM Core Government Money Market Fund 2.62%
  7. Republic of Italy Government International Bond 2.43%
  8. Hellenic Republic Government Bond 2.32%
  9. Colombia Government International Bond 2.20%
  10. Portugal Obrigacoes do Tesouro OT 2.09%

Asset Allocation

Weighting Return Low Return High PXBAX % Rank
Bonds 		94.28% 36.86% 100.73% 34.85%
Cash 		9.29% -2.75% 67.17% 62.12%
Convertible Bonds 		0.59% 0.00% 14.16% 88.64%
Stocks 		0.54% 0.00% 0.70% 78.03%
Preferred Stocks 		0.00% 0.00% 0.73% 73.48%
Other 		-4.12% -8.93% 0.72% 63.64%

Stock Sector Breakdown

Weighting Return Low Return High PXBAX % Rank
Utilities 		0.00% 0.00% 100.00% 96.00%
Technology 		0.00% 0.00% 48.29% 100.00%
Real Estate 		0.00% 0.00% 0.00% 94.00%
Industrials 		0.00% 0.00% 3.92% 96.00%
Healthcare 		0.00% 0.00% 6.16% 100.00%
Financial Services 		0.00% 0.00% 100.00% 100.00%
Energy 		0.00% 0.00% 0.00% 96.00%
Communication Services 		0.00% 0.00% 17.03% 96.00%
Consumer Defense 		0.00% 0.00% 5.49% 100.00%
Consumer Cyclical 		0.00% 0.00% 17.00% 100.00%
Basic Materials 		0.00% 0.00% 0.00% 96.00%

Stock Geographic Breakdown

Weighting Return Low Return High PXBAX % Rank
US 		0.54% 0.00% 0.70% 67.42%
Non US 		0.00% 0.00% 0.08% 74.24%

Bond Sector Breakdown

Weighting Return Low Return High PXBAX % Rank
Government 		34.15% 1.71% 97.31% 64.39%
Corporate 		13.68% 0.00% 70.79% 64.39%
Securitized 		8.11% 0.00% 29.11% 35.61%
Cash & Equivalents 		2.62% 0.00% 51.02% 56.06%
Municipal 		0.00% 0.00% 3.10% 77.27%
Derivative 		-4.12% 0.00% 50.79% 21.21%

Bond Geographic Breakdown

Weighting Return Low Return High PXBAX % Rank
Non US 		82.12% 26.05% 98.85% 18.94%
US 		12.17% -11.86% 53.57% 65.15%

PXBAX - Expenses

Operational Fees

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 4.29% 0.02% 1.81% 20.31%
Management Fee 0.50% 0.00% 0.83% 59.09%
12b-1 Fee 0.25% 0.00% 1.00% 46.15%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 2.25% 4.75% 93.75%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PXBAX 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.

PXBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 2.00% 402.00% 24.32%

PXBAX - Distributions

Dividend Yield Analysis

PXBAX Category Low Category High PXBAX % Rank
Dividend Yield 0.00% 0.00% 2.20% 82.58%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PXBAX Category Low Category High PXBAX % Rank
Net Income Ratio 1.29% -0.30% 3.10% 53.44%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PXBAX - Fund Manager Analysis

Managers

Robert Tipp

Start Date

Tenure

Tenure Rank

Dec 14, 2016

5.46

5.5%

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.

Matthew Angelucci

Start Date

Tenure

Tenure Rank

Oct 31, 2018

3.58

3.6%

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.

Brett Bailey

Start Date

Tenure

Tenure Rank

Feb 15, 2022

0.29

0.3%

Brett Bailey, CFA, is a Vice President and portfolio manager for PGIM Fixed Income's Global Bond Team. Mr. Bailey provides analytical support and analysis to the Multi-Sector Team in country and sector allocation, and issue selection within government, sovereign, and agency securities for the Global Government portfolio management team. Prior to assuming his current position, he was a financial analyst in the Portfolio Analysis Group, responsible for performance attribution and providing daily risk analysis and analytic support to the Global Government and Emerging Market portfolio management teams. Mr. Bailey joined the Firm in 2007. He received a BS in Economics and Finance from Villanova University and holds the Chartered Financial Analyst (CFA) designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 31.42 5.43 0.92

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