PGIM announced that Susan Courtney, head of municipals and lead manager on PGIM Muni High Income PHIZX and PGIM Short Duration Muni PDSZX, will retire at the end of 2021 after 16 years at PGIM. PGIM veterans and comanagers Robert Tipp, Lee Friedman, and John Dittemer will remain. However, while we evaluate the change, the strategies’ Morningstar Analyst Rating is now Under Review.
PGIM Muni High Income Z PHIZX
NAV / 1-Day Return
10.72
/
0.01
%
Total Assets
999.1 Mil
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
Below Average
Longest Manager Tenure
16.43
years
Category
High Yield Muni
Credit Quality / Interest Rate Sensitivity
Low / ExtensiveMin. Initial Investment
0
Status
Open
TTM Yield
3.48%
Effective Duration
7.57
years
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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.
Lead Manager of PGIM Muni High Income Retiring; Ratings Under Review
