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PGIM Jennison Focused Growth Z SPFZX Fund Analysis

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Morningstar’s Fund Analysis SPFZX

Will SPFZX outperform in future?

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

PGIM Jennison Focused Growth’s Volatility Is a Feature, Not a Bug

Analyst Note

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High-growth stocks, especially those within PGIM Jennison Focused Growth’s bailiwick, have seen their share prices come under pressure in early 2022. For the year to date through March 16, 2022, the mutual fund’s Z shares fell 21.3%, which was 6.3 and 7.2 percentage points worse than the typical large-growth Morningstar Category rival and Russell 1000 Growth Index, respectively. Former market darling and top-10 holding Shopify SHOP, whose shares are down a staggering 54.8%, has detracted the most from returns during the two-and-a-half-month period. Such a sharp decline is uncomfortable but not necessarily surprising given this strategy’s long-standing bold approach. It is behaving as expected, and its share classes retain their Morningstar Analyst Ratings, which range from Silver to Neutral depending on fees.

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