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Morningstar

PGIM Absolute Return Bond C PADCX

Morningstar Medalist Rating
Medalist Rating as of | See PGIM Investment Hub
  • NAV / 1-Day Return 8.93  /  0.02 %
  • Total Assets 1.1 Bil
  • Adj. Expense Ratio
    1.750%
  • Expense Ratio 1.750%
  • Distribution Fee Level Below Average
  • Share Class Type Level Load
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 4.32%
  • Effective Duration −0.23 years

USD | NAV as of Oct 02, 2023 | 1-Day Return as of Oct 02, 2023, 10:17 PM GMT+0

Morningstar’s Analysis PADCX

Will PADCX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PADCX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PADCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PADCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A decline in its Process Pillar rating is the primary driver of PGIM Absolute Return Bond C's downgrade to a Morningstar Medalist Rating of Neutral from Bronze.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings PADCX

More PADCX Holdings
  • Current Portfolio Date
  • Equity Holdings 6
  • Bond Holdings 538
  • Other Holdings 327
  • % Assets in Top 10 Holdings 19.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PGIM Core Short-Term Bond

10.63
114,179,779
—

Us Dollar

3.68
39,512,037
Cash and Equivalents

Usd/Eur Fwd 20231019 0997

3.63
38,956,210
Derivative

Usd/Eur Fwd 20231019 Mslngb2x

3.25
34,940,350
Derivative

Usd/Jpy Fwd 20231031 955

2.29
24,573,000
Derivative

Usd/Eur Fwd 20231019 Barcus33

2.26
24,287,616
Derivative

Usd/Krw Fwd 20230920 00187

1.93
20,745,072
Derivative

United States Treasury Bonds 2.25%

1.83
19,666,219
Government

Usd/Gbp Fwd 20231019 Deutgb22

1.82
19,581,176
Derivative

MidOcean Credit CLO III/MidOcean Credit CLO III LLC 7.39513%

1.64
17,566,580
Securitized