Jason Appleson's appointment as head of municipal bonds, effective Jan. 1, 2022, is significant, but it does not change PGIM Muni High Income's Average People and Process Pillar ratings. As the dust settles from announcement of veteran muni manager Susan Courtney's pending retirement on Dec. 31, 2021, the strategy continues to earn Morningstar Analyst Ratings that range from Neutral to Negative across its share classes.
PGIM Muni High Income Z PHIZX
NAV / 1-Day Return
10.43
/
0.47
%
Total Assets
1.0 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.580%
Expense Ratio
0.580%
Fee Level
Average
Longest Manager Tenure
17.16
years
Category
High Yield Muni
Credit Quality / Interest Rate Sensitivity
Medium / ExtensiveMin. Initial Investment
0
Status
Open
TTM Yield
3.18%
Effective Duration
7.34
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will PHIZX 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 PHIZX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PHIZX 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 PHIZX’s parent organization’s priorities and whether they’re in line with investors’ interests.
No Changes to PGIM Muni High Income's Ratings After Firm Appoints a New Head of Municipal Bonds
