PHICX

About PHICX

PGIM Muni High Income Fund Class C is an open-end municipal bond fund focused on generating income that is generally exempt from U.S. federal income taxes. The fund invests primarily in a diversified portfolio of municipal securities, typically allocating at least 80% of assets to tax-exempt bonds to pursue higher income within the muni market. Managed by PGIM Fixed Income, it targets a blend of credits and sectors across state and local issuers, including revenue and general obligation bonds, to balance income potential with broad municipal exposure. The fund distributes dividends monthly and accrues income daily, reflecting its income-oriented profile. Class C shares feature a higher ongoing expense structure relative to other share classes, paired with no front-end sales charge, aligning with investors who prioritize level ongoing fees. Within the municipal bond landscape, the strategy serves as a vehicle for accessing high-income opportunities from tax-exempt issuers while maintaining professional credit research and active duration management to navigate interest rate and credit cycles.