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PGIM Total Return Bond R6 PTRQX

Medalist Rating as of | See PGIM Investment Hub
  • NAV / 1-Day Return 11.80  /  0.24 %
  • Total Assets 43.4 Bil
  • Adj. Expense Ratio
    0.390%
  • Expense Ratio 0.390%
  • Distribution Fee Level Below Average
  • Share Class Type Retirement, Large
  • Category Intermediate Core-Plus Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment
  • Status Open
  • TTM Yield 4.74%
  • Effective Duration 6.29 years

Morningstar’s Analysis PTRQX

Will PTRQX outperform in future?

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

PGIM Total Return Bond Manager Abruptly Departs; Ratings Unchanged

null R.J. D'Ancona

R.J. D'Ancona

Analyst Note

PGIM Fixed Income's Lindsay Rosner shed her recently acquired portfolio management duties on June 8, 2023, and departed the firm one day later to pursue other opportunities. The firm promoted Rosner in September 2021 as part of its succession planning efforts. This abrupt management change is not typical at PGIM, as the firm has often made such transitions methodically in the past. For example, the firm announced longtime manager Michael Collins' April 2024 retirement in January 2023, and Collins will manage PGIM Short Duration Multi-Sector Bond SDMAX and PGIM Total Return Bond until his retirement. Rosner's departure weakens PGIM's succession plan for the funds just mentioned, but ample portfolio management depth and an army of supporting personnel instill confidence. Seasoned leaders Robert Tipp (39 years of investment experience), Richard Piccirillo (32 years), and Gregory Peters (29 years) remain in the fold. They draw support from a group that is broad and deep, counting more than 125 members each across its portfolio manager and analyst teams. As a result, the funds' current Morningstar Medalist Ratings remain intact.

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Portfolio Holdings PTRQX

  • Current Portfolio Date
  • Equity Holdings 6
  • Bond Holdings 3546
  • Other Holdings 268
  • % Assets in Top 10 Holdings 6.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Usd/Eur Fwd 20240419 0997

4.30
1,925,889,748
Derivative

Prudential Govt Money Mkt Fd

4.24
1,899,042,897
Cash and Equivalents

Usd/Eur Fwd 20240419 2568

3.96
1,774,298,085
Derivative

Usd/Eur Fwd 20240419 955

2.64
1,182,722,410
Derivative

United States Treasury Bonds 2.25%

1.15
516,238,591
Government

Usd/Gbp Fwd 20240419 Midlgb22

1.14
511,589,671
Derivative

Usd/Twd Fwd 20240320 00187

1.01
451,416,891
Derivative

United States Treasury Bonds 1.375%

0.96
428,163,798
Government

Federal Home Loan Mortgage Corp. 5.5%

0.81
364,451,479
Securitized

Federal National Mortgage Association 3%

0.77
344,285,717
Securitized