In January 2020, PGIM Balanced underwent significant strategic changes to its bond portfolio, along with smaller changes to its equity portfolio, which should improve results during rising equity markets but may drag on returns during downturns. Our level of conviction in this strategy’s team and process is unchanged, but under our new ratings methodology, the four most expensive share classes have been downgraded to a Morningstar Analyst Rating of Neutral from Bronze. The two cheapest share classes retain Bronze ratings.
Will PIBAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PIBAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PIBAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PIBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.