Fund Facts
Where an investor's own currency is different to the currency of the fund, the return on investment may be affected by fluctuations in the currency exchange rate. Also, the use of financial derivative instruments may result in increased gains or losses within the Fund.
FUND CHARACTERISTICS
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Benchmark
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Due to the characteristics of the fund, the NAV may be highly volatile.
Fund fees
Swing pricing, as defined in the prospectus, may be applied on a subscription or redemption of shares to reflect the costs of dealing in the Fund's assets.
*The Fund’s investment policy changed on 30/09/2021 and performance data quoted reflects past performance which was achieved under circumstances that no longer apply.
Source: PGIM, Inc. Past performance is no guarantee of future results.
This is a marketing communication. Further information about the Fund (including the current Prospectus and Fund Supplement, net asset value per share of the Fund, and most recent financial statements) is available from the applicable distributor.
There is no guarantee that this objective will be achieved. Portfolio characteristics subject to change. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.
This Summary Fund Profile is a financial promotion and qualified in its entirety by reference to the more complete information contained in the Company’s Prospectus (the “Prospectus”), Supplement (the “Supplement”) and Key Investor Information Document (the “KIID”) or Key Information Document (the "KID"), depending on the jurisdition (collectively the “Fund Documents”). Capitalised terms used herein without definition have the respective meanings provided in the Prospectus, Supplement and KIID/KID, as applicable. Investors should review the Fund Documents and seek advice prior to making an investment.
RISKS
An investment in the Fund involves a high degree of risk, including the risk that the entire amount invested may be lost. The Fund is primarily designed to purchase certain investments, which will introduce significant risk to the Fund, including asset performance, price volatility, administrative risk and counterparty risk. No guarantee or representation is made that any Fund’s investment program will be successful, or that such Fund’s returns will exhibit low correlation with an investor’s traditional securities portfolio.
Any investment in the Fund will be deemed to be a speculative investment and is not intended as a complete investment program. Investment in the Fund is suitable only for persons who can bear the economic risk of the loss of their investment and who meet the conditions set forth in the Fund Documents. There can be no assurances that the Fund will achieve its investment objective. Prospective and existing Investors should carefully consider the risks involved in an investment in the Fund, including, but not limited to, those discussed in the Fund Documents. Prospective and existing Investors should consult their own legal, tax and financial advisors about the risks of an investment in the Fund. Any such risk could have a material adverse effect on the Fund and its Shareholders.
fund administration
| Investment Manager | PGIM, Inc. |
| Listing | Global Exchange Market of the Irish Stock Exchange plc |
| Depositary | State Street Custodial Services (Ireland) Limited |
| Administrator | State Street Fund Services (Ireland) Limited |
| Auditor | PwC |
| Reporting | Monthly statements |
| Annual audited financial statements |
fund structure
- Ireland based UCITS fund
- The Fund is a sub-fund of PGIM Funds plc (the “Company”)
- The Company is an investment company with variable capital incorporated in Ireland with registered number 530399
- The Company is established as an umbrella fund with segregated liability between sub-funds
- The Company is managed by PGIM Investments (Ireland) Limited (the “Manager”). The Company and the Manager are each authorised in Ireland and regulated by the Central Bank of Ireland.
MORNINGSTAR INFORMATION
Growth of $10,000
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
Please refer to the Fund Documents for other important
information regarding the risks involved in an investment
in the Fund.
standard PERFORMance (%)
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ANNUALISED
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NetReturns
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1 Mo
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3 Mo
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YTD
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1Yr
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3Yr
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5Yr
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Since Inception (04 December 2018)
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rolling 12 month performance (%)
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2017
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2018
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2019
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2020
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2021
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2022
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2023
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2024
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2025
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2026
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CALENDAR YEAR performance (%)
YEAR ENDED 31 DECEMBER
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2016
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2017
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2018
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2019
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2020
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2021
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2022
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2023
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2024
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2025
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The monthly calculated performance scenarios are available upon request.
Source: PGIM, Inc. Past performance is no guarantee of future results. Net returns are calculated on a Net Asset Value (NAV) to NAV basis and reflect the deduction of ongoing fees, which include the management fee. Difference represents the difference between net returns and the benchmark and may reflect rounding differences. Benchmark is Bloomberg Euro Aggregate Corporate Index (the "Benchmark").
The benchmark of the Fund is the Bloomberg Euro Aggregate Corporate Index (the “Benchmark”). The Benchmark is an index that measures the corporate component of the Bloomberg Euro Aggregate Bond Index, a broad-based flagship index that measures the investment grade, Euro-denominated, fixed-rate bond market, including treasuries, government-related, corporate and securitised issues. Inclusion is based on currency denomination of a bond and not country of risk of the issuer.
Fund performance is as of the last business day of the month as defined in the Fund Supplement, which may differ from the month end. If any current shareholders would like to receive intra-month summaries please request this through your registered financial intermediary.
- TABLE
- CHARTS
Top 10 Corporate Issuers (%)
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Fund
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Bench
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Sector Allocation (%)
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Fund
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Bench
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Credit Quality (%)
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Fund
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Bench
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REGIONAL ALLOCATION (%)
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Fund
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Bench
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TOP COUNTRIES (%)
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Fund
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Bench
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CURRENCY ALLOCATION (%)
TOP 10 INDUSTRIES (%)
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Fund
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Bench
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INDUSTRY ALLOCATION (%)
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Fund
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Bench
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MSCI CARBON METRICS (%)
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Fund
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Bench
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MSCI ESG RISK RATINGS (%)
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Fund
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Bench
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PGIM ESG IMPACT RATINGS DISTRIBUTION (%)
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Fund
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Bench
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Source: PGIM, Inc. Totals may not equal 100% due to rounding. Portfolio holdings may not represent current, future investments or all of the portfolio’s holdings. Future portfolio holdings may not be profitable.
Regional Allocation - Dollar Bloc represents allocation to U.S., Australia, Canada, Bermuda, and Cayman Islands. Europe represents all European countries plus Russia, Kazakhstan, and Turkey.
Credit Quality allocation is based on the current ratings methodology of Bloomberg Global Family of Indices, which is as follows: If each of the Ratings Agencies (Moody’s, S&P, and Fitch) assigns ratings to an instrument, the methodology will attribute the middle rating to the instrument after dropping the highest and lowest ratings. If only two Ratings Agencies assign ratings, the methodology will attribute the more conservative (lower) rating of the two. If only one Ratings Agency assigns a rating, the methodology will attribute that rating.
MSCI Carbon Metrics is a measure of a fund's exposure to carbon related potential market and regulatory risks and is computed as the sum product of the funds companies' carbon intensities and weights. Weighted Average Carbon Intensity provided by MSCI ESG Research.
MSCI ESG Risk Ratings provided by MSCI ESG Research and excludes cash and derivatives.
Weighted Average Carbon Intensity represents issuer's greenhouse gas emissions / sales (tCO2e / $M sales).
PGIM ESG Impact Ratings Distribution scores exclude cash and derivatives. Benchmark statistics and ESG scores based on PGIM analytics and may differ from published statistics by official benchmark vendors. PGIM Fixed Income maintains a proprietary ESG ratings framework, where issuers or issues across all fixed income sectors are given an ESG rating in addition to a fundamental credit rating. More than 100 analysts seek to assign ESG ratings based on a 100-point scale in five-point increments, with zero as the lowest and 100 as the highest. In certain instances, it may not be possible or practical to obtain or analyse the information needed to assess and rate each investment and where this is the case our analysts may either make reasonable assumptions in order to rate the particular investments based on, for example, information relating to the particular industry of an underlying issuer or identify the investment as unrated. Does not constitute a recommendation regarding the merits of any investments or investment advice and should not be used as the basis for any investment decision. ESG Ratings are subject to change without notice.
©2026 MSCI ESG Research LLC. Reproduced by permission; no further redistribution permitted. Although PGIM's information providers, including without limitation MSCI ESG Research LLC and its affiliates (the “ESG Parties”) obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the originality, accuracy and/or completeness, of any data herein and expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose, with respect to any data herein. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
ABOUT
PGIM Fixed Income, with $862 billion in assets under management (as of 31 Mar 2025)1, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Tokyo, Amsterdam and Singapore. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach.
Donna Cabral, CFA
Principal and Portfolio Manager
PGIM Fixed Income
London
Donna Cabral, CFA, is a Principal and Portfolio Manager on the European Investment Grade Corporate Bond Team at PGIM Fixed Income.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Edward Farley
Head of European Investment Grade Corporate Bonds and Senior Portfolio Manager, Global Corporate Strategy
PGIM Fixed Income
London
Edward Farley is a Managing Director and Head of the European Investment Grade Corporate Bond Team at PGIM Fixed Income, based in London.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Robert White
Portfolio Manager, European Investment Grade Corporate Bonds
PGIM Fixed Income
London
Robert White is a Principal and Portfolio Manager on the European Investment Grade Corporate Bond Team at PGIM Fixed Income.
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Michael Roper, CFA
Portfolio Manager, European Investment Grade Corporate Bonds
Credit
London
Michael Roper, CFA's Biography
Grand Buildings, 1-3 Strand, Trafalgar Square, London, United Kingdom
Source: PGIM, Inc. Past performance is no guarantee of future results.
1Assets under management (AUM) are based on company estimates and are subject to change.
4204069 Ed. 01/2025
PGIM literature
Fund literature
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