PGIM Total Return Bond Fund Class Z
PDBZX
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- PGIM Total Return Bond Fund Class Z (PDBZX) is an open-end mutual fund that seeks total return through a diversified portfolio of fixed income securities across multiple sectors, including U.S. Treasuries, agency mortgage-backed securities, investment-grade and high-yield corporate bonds, collateralized loan obligations, commercial mortgage-backed securities, asset-backed securities, emerging market debt, and non-U.S. bonds; it maintains an average maturity of approximately 7.3 years and effective duration of 5.9 years, with allocations such as 69.54% to U.S. bonds, 24.28% to non-U.S. bonds, and 4.58% to cash equivalents. Managed by PGIM Investments, the asset management arm of Prudential Financial, Inc., founded in 1875 and headquartered in Newark, New Jersey, the fund operates primarily in the United States for retail and institutional investors, with a total net asset value exceeding $51 billion across share classes and Class Z assets at $25.67 billion; portfolio managers include Robert Tipp (since 2002), Richard Piccirillo (since 2012), Gregory Peters (since 2014), and recent additions Matthew Angelucci and Tyler Thorn (since September 2023). Recent developments include strong performance outperformance against the Bloomberg U.S. Aggregate Bond Index in Q2 2024 and Q1 2025 on a gross basis, driven by sector diversification and credit selection amid volatile yields, alongside portfolio adjustments such as increased exposure to high-quality structured products like CLOs and CMBS; the fund also ranked #4 in Barron’s Best Fund Families for the one-year period ended December 31, 2024.