PGIM Balanced Fund- Class C
PABCX
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- PGIM Balanced Fund (Class C: PABCX) is an actively managed open-end mutual fund that seeks income and long-term growth of capital through a diversified portfolio of equity securities, fixed-income securities, and money market instruments. The fund normally invests 45% to 70% of its total assets in equity and equity-related securities, including common stocks, stock index futures, and real estate investment trusts (REITs), with up to 15% allocated to small companies; 30% to 55% in fixed-income securities such as U.S. government and agency obligations, corporate debt, mortgage-backed securities, asset-backed securities, high-yield bonds, and bank loans; and up to 35% in money market instruments like commercial paper and short-term bank obligations. It employs quantitative models for equity selection emphasizing growth prospects, quality, and relative valuation, alongside top-down economic analysis and bottom-up credit research for fixed income, with potential use of derivatives for duration management, hedging, currency exposure, and return enhancement; up to 15% of assets may be in foreign equities and 20% in foreign debt. Managed by PGIM Investments LLC, with subadvisers PGIM Quantitative Solutions LLC for asset allocation and equities, and PGIM Fixed Income and PGIM Limited for fixed income, the fund is part of the PGIM Funds family offered by PGIM, the global investment management business of Prudential Financial, Inc., headquartered in Newark, New Jersey; the fund was incepted on November 7, 1996, with total assets of approximately $1.1 billion as of late 2025 and a portfolio turnover rate of 107%. It targets individual and institutional investors seeking moderate allocation exposure, with geographic focus primarily on U.S. securities but including international holdings across developed and emerging markets. Class C shares (PABCX) feature a 1.00% contingent deferred sales charge on redemptions within 12 months, a net expense ratio of 1.82% (through January 31, 2027), and a minimum initial investment of $1,000. Recent developments include the release of the fund's Q3 2025 commentary highlighting strategic asset allocation adjustments amid market conditions, ongoing expense waivers through January 31, 2027 to cap net expenses, and PGIM's broader strategic initiatives such as a December 2025 partnership with Partners Group to deliver multi-asset solutions, alongside PGIM Real Estate's $346.9 million acquisitions via its private real estate fund, reflecting the parent's expansion in diversified investment offerings. No fund-specific acquisitions, name changes, or reorganizations were reported in the last 1-2 years, though PGIM continues to enhance its mutual fund lineup with updated prospectuses as of November 28, 2025.