With around $74 billion of assets under management (as of Dec 2014), Prudential Investments - a segment of Prudential Financial, Inc - offers a wide range of funds including both equity and fixed-income, and open- and closed-end funds. The company currently offers services across 41 countries and territories including the U.S., Asia and Europe. Investment professionals of the company are also involved in managing assets of major corporations and pension funds throughout the globe. Founded in 1875, Prudential Financial has $1.1 trillion in assets under management (as of Sep 2015).
Below we share with you 3 top-rated Prudential Investments mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. To view the Zacks Rank and past performance of all Prudential Investments mutual funds, investors can click here to see the complete list of Prudential Investments mutual funds .
Prudential Jennison Growth A ( PJFAX ) invests a minimum of 65% of its assets in equity securities of companies having market capitalization of over $1 billion. PJFAX primarily focuses on acquiring securities of companies that are believed to have an impressive growth potential. PJFAX invests in securities including common stocks, nonconvertible preferred stocks and convertible securities. The Prudential Jennison Growth A fund has returned 10.5% over the past one year.
PJFAX has an expense ratio of 1.05% as compared with the category average of 1.19%.
Prudential Municipal High-Income A ( PRHAX ) seeks to maximize income exempted from federal income taxes. PRHAX invests the lion's share of its assets in municipal debt securities that are expected to provide return free from federal income tax. However, PRHAX may invest in securities that provide interest income which is not exempted from the federal alternative minimum tax (AMT). The Prudential Municipal High-Income A fund has returned 4.3% over the past one year.
As of September 2015, PRHAX held 412 issues, with 1.13% of its assets invested in Golden St Tob Securitization C Toba 4.5%.
Prudential Short-Term Corporate Bond A ( PBSMX ) invests a large chunk of its assets in corporation bonds irrespective of their maturity durations. PBSMX is expected to maintain an effective duration of not more than three years. PBSMX may also invest in mortgage-related and asset-backed securities. PBSMX may allocate a maximum of 35% of its assets in dollar denominated debt securities issued by foreign entities. Not more than 20% of PBSMX is invested in securities that are rated below investment grade. The Prudential Short-Term Corporate Bond A fund has returned 1.1% over the past one year.
Steven Kellner is one of the fund managers of PBSMX since 1999.
To view the Zacks Rank and past performance of all Prudential Investments mutual funds, investors can click here to see the complete list of funds .
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
