Fund info

PGIM Total Return Bond Fund Class Z is an institutional share class of an open-end mutual fund focused on generating total return through a combination of current income and capital appreciation. This fund primarily invests in a diversified portfolio of bonds across multiple fixed income sectors, with at least 80% of assets allocated to bonds such as government, corporate, mortgage-backed, and other fixed income securities. The strategy allows for up to 30% of assets in high-yield (below investment-grade) and up to 30% in foreign debt, including emerging markets, offering exposure to both credit and interest rate opportunities. The fund's portfolio is notable for its broad diversification, holding thousands of securities and employing active sector rotation and risk management. Positioned within the intermediate core-plus bond category, it exhibits a moderate sensitivity to interest rates and credit risk, and targets a duration near the average of broad bond market indices. PGIM Total Return Bond Fund Class Z serves as a core fixed income holding for institutional and sophisticated investors seeking diversified bond market exposure, regular monthly income, and risk-managed opportunities for capital appreciation.