PGIM Jennison Focused Growth Fund-Class Z
SPFZX
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- PGIM Jennison Focused Growth Fund (Class Z) (SPFZX) is an open-end mutual fund that seeks long-term growth of capital by investing primarily in equity and equity-related securities of medium- to large-capitalization companies with strong capital appreciation potential; it normally allocates at least 65% of its total assets to common stocks, non-convertible preferred stocks, and convertible securities of growth-oriented firms, including participation in initial public offerings and limited exposure to foreign securities. The fund maintains a non-diversified, concentrated portfolio benchmarked against the Russell 1000 Growth Index and S&P 500 Index, with heavy emphasis on information technology (approximately 50%), communication services, and consumer discretionary sectors; top holdings as of late 2025 include NVIDIA Corp, Microsoft Corp, Apple Inc, Amazon.com Inc, and Broadcom Inc. It offers multiple share classes (A, C, R6, Z) with varying expense ratios, such as 0.75% net for Class Z, and a 12-month turnover ratio of around 33%; total net assets exceed $1.7 billion across classes. Launched on June 2, 2000, the fund is managed by PGIM Investments LLC and sub-advised by Jennison Associates LLC, a growth equity specialist with over 50 years of experience; it is domiciled in the United States with principal executive offices at 655 Broad Street, Newark, New Jersey, the headquarters of parent PGIM, Inc., the asset management arm of Prudential Financial managing over $1 trillion in assets. The portfolio management team includes longstanding lead manager Kathleen A. McCarragher, alongside Natasha Kuhlkin, Blair Boyer, and Owuraka Koney, who covers industrials, consumer internet, and media. In recent developments, the fund's parent PGIM ranked #4 in Barron’s Best Fund Families for the one-year period ended December 31, 2024, based on asset-weighted returns among 48 qualifying families; performance highlights include outperformance versus the Russell 1000 Growth Index in Q2 2025 (22.9% fund return versus 17.8% benchmark). A significant management transition is underway, with veteran portfolio manager Kathleen McCarragher announcing her retirement mid-year 2026 and scheduled for removal from the fund on or about December 31, 2025. The fund continues to navigate market volatility, reporting underperformance in Q3 2025 amid tech sector dislocation and outflows, while Prudential Financial noted $2.4 billion net inflows overall for PGIM.