PGIM Jennison Utility Fund Class A
PRUAX
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- PGIM Jennison Utility Fund Class A (PRUAX) is an open-end mutual fund that seeks total return comprising capital appreciation and current income through investments primarily in equity and equity-related securities, as well as investment-grade debt securities, of utility companies and utility-related companies; at least 80% of its investable assets are allocated to such securities, with a portfolio heavily concentrated in electric utilities (approximately 60%), multi-utilities (28%), independent power and renewable electricity producers (8%), gas utilities (2%), and minor exposure to energy and cash equivalents. The fund's top holdings include NextEra Energy Inc. (NEE, ~12%), Constellation Energy Corp. (CEG, ~8%), Sempra (SRE, ~6%), Entergy Corp. (ETR, ~5%), and CenterPoint Energy Inc. (CNP, ~5%), with approximately 97% of assets in U.S. companies and minor international exposure such as ELIA Group in Belgium; it targets investors seeking income and growth from the energy sector while tolerating sector-specific volatility, featuring a net expense ratio of 0.82%, a front-end load of 5.50%, and share classes including A, C, R, R6, and Z. Managed by Jennison Associates LLC, a PGIM affiliate founded in 1969 and specializing in growth, value, blend, and specialty equity strategies with over $200 billion in assets under management, the fund operates under PGIM Investments LLC, the investment advisor affiliated with Prudential Financial, Inc., which traces its origins to 1875 and maintains global headquarters in Newark, New Jersey. In recent developments, the fund's family earned a #4 ranking in Barron’s Best Fund Families for the 1-year period ended December 31, 2024, among 48 qualifying families based on asset-weighted returns; Jennison Associates expanded its fixed-income capabilities with a senior hire in May 2024 and continues to emphasize policy tailwinds like the Inflation Reduction Act supporting utility growth, while PGIM launched the PGIM Jennison Better Future Fund in March 2025 targeting high-growth companies; total net assets for Class A exceed $2.7 billion as of late 2025, reflecting sustained investor interest amid a favorable interest rate environment.