PHIZX

About PHIZX

PGIM Muni High Income Fund Class Z is an actively managed municipal bond mutual fund designed to generate income that is generally exempt from federal income taxes. The portfolio invests at least 80% of assets in a diversified blend of investment-grade and below‑investment‑grade municipal securities issued by states and local authorities, allowing the managers to pursue higher income while navigating credit and interest‑rate risk across the muni market. The fund distributes dividends monthly with daily accrual, aligning with investors seeking steady tax‑advantaged cash flow from municipal debt. Managed by PGIM Fixed Income, it emphasizes research‑driven security selection, sector allocation, and call structure analysis across general obligation, revenue, healthcare, transportation, and essential‑service bonds. Class Z shares feature an institutional pricing structure with no front‑end sales load and a competitive expense ratio for its category. Within the broader fixed income landscape, the fund serves as a dedicated tax‑exempt income allocation and a potential diversifier to taxable bonds, reflecting the role of municipal credit in funding public infrastructure and services while providing federally tax‑advantaged income to shareholders.