The fund seeks total return by investing in companies in the United States.
The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.
Next, the research team invests significantly in a diversified portfolio of high yield bonds that are below investment grade and other investments (including derivatives) with similar economic characteristics.
The team utilizes a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems.
In the top-down economic analysis, the team develops views on economic, policy and market trends.
As part of its bottom-up research, the team develops an internal rating and outlook on issuers.
In addition, the team may also consider factors such as estimated total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk.
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.
The fund may invest in securities which are the subject of bankruptcy proceedings or otherwise in default as to the repayment of principal and/or interest at the time of acquisition by the fund or are rated in the lower rating categories or, if unrated, are of equivalent quality (Distressed Securities).
Also, the fund may invest up to 20% of its investable assets in foreign currency-denominated fixed income securities issued by foreign or domestic issuers, including emerging markets.
The fund seeks capital appreciation in the long term by investing in companies in the United States.
The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.
Next, the research team invests significantly in equity and equity-related securities of US large-capitalization companies.
In selecting securities for the portfolio, the research team evaluates companies on the basis of attributes, such as value, quality and volatility.
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.
The manager employs an equal-weight method when allocating to the stocks.
The fund seeks total return, consistent with preservation of capital by investing in companies in the United States.
The fund manages assets with the help of two sub-advisers namely PGIM Fixed Income and PGIM Limited.
The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.
The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.
Next, the research team invests significantly in bonds with varying maturities.
Bonds include fixed income instruments issued by the U.S. Government, its agencies and instrumentalities, as well as commercial paper, money market instruments, asset-backed securities, collateralized loan obligations, funding agreements, variable rate demand notes, bills, notes and other obligations issued by banks, corporations and other companies, obligations issued by non-U.S. banks, companies or non-U.S. governments, and municipal bonds and notes.
The team utilizes a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems.
In the top-down economic analysis, the team develops views on economic, policy and market trends.
As part of its bottom-up research, the team develops an internal rating and outlook on issuers.
In addition, the team may also consider factors such as estimated total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk.
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.
The fund may only invest in fixed income investments that have a minimum short term rating (i.e., ratings assigned to securities generally having an original maturity not exceeding one year) or a minimum long-term rating (i.e., ratings assigned to securities generally having an original maturity exceeding one year).
The fund may also invest in unrated fixed income investments that the team believes to be of comparable quality to the rated fixed income investments.
