PGIM Balanced Fund- Class B
PBFBX
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- PGIM Balanced Fund-Class B (PBFBX) is an open-end mutual fund managed by PGIM Investments LLC that seeks income and long-term growth of capital through an actively managed portfolio of equity, fixed-income, and money market securities designed to capitalize on perceived misvaluations. The fund allocates 45% to 70% of its total assets to equity and equity-related securities, including common stocks, stock index futures, and real estate investment trusts (REITs), with up to 15% in small-cap equity securities defined by market capitalization not exceeding the largest company in the Russell 2000 Index; 30% to 55% to fixed-income securities such as U.S. government obligations, corporate debt, mortgage-backed securities, and asset-backed securities; and up to 35% to money market instruments like commercial paper and short-term bank obligations. It may invest up to 15% in foreign equities and 20% in foreign debt, while employing derivatives for duration management, currency hedging, and return enhancement. PGIM Quantitative Solutions LLC oversees asset allocation and the equity sleeve using a quantitative approach to select stocks with strong growth prospects, high quality, and reasonable pricing relative to peers, aiming to outperform broad market indices at similar risk levels. PGIM Fixed Income and PGIM Limited manage the fixed-income portion via top-down economic analysis, bottom-up issuer research, proprietary models, and factors including total return, yield, credit quality, and maturity. The fund's portfolio turnover was 107% in the most recent fiscal year, reflecting active trading, with a blended benchmark comprising 44% S&P 500 Index, 40% Bloomberg U.S. Aggregate Bond Index, 4% Russell 2000 Index, and 12% MSCI ACWI ex USA Index. The fund, originally launched in 1993, offers multiple share classes including Class B (PBFBX) with a management fee of 0.65% and total annual operating expenses of approximately 1.88% before waivers; PGIM Investments contractually caps net expenses through at least January 31, 2027, and provides fee waivers excluding certain costs like acquired fund fees and extraordinary expenses. It is headquartered in Newark, New Jersey, as part of PGIM, Inc., the global investment management arm of Prudential Financial, Inc., serving institutional and retail investors primarily in the United States with global exposure. Recent developments include the addition of new portfolio managers Matthew Angelucci and Tyler Thorn to the fixed-income team in September 2023, enhancing multi-sector capabilities; a Q3 2025 commentary noting outperformance versus the blended index driven by asset allocation; updated prospectus disclosures as of November 28, 2025, incorporating year-to-date Class Z returns of 12.53% through September 30, 2025; and sustained expense waivers through January 31, 2027, with no reported acquisitions, funding rounds, or major strategic shifts in the past 1-2 years. Top holdings as of late 2025 feature leading equities like Nvidia, Apple, and Microsoft alongside fixed-income exposures in U.S. government-related securities (25.5%), investment-grade corporates (24.7%), and asset-backed securities (15.9%).