PGIM Short-Term Corporate Bond Fund – Class Z is an actively managed mutual fund focused on generating high current income while emphasizing preservation of principal. According to the adviser, it invests at least 80% of assets in investment‑grade corporate bonds and maintains a short interest‑rate profile, placing it within the short-term bond category. The portfolio concentrates on high-quality issuers across sectors such as financials, consumer, industrials, and securitized credit, with effective duration typically around the low‑to‑mid two‑year range to limit interest‑rate sensitivity. The fund’s institutional share class features a competitive expense structure relative to peers, reflecting its role as a core short-duration corporate allocation for income-oriented investors seeking modest volatility. Recent disclosures show the fund predominantly holds corporate notes complemented by select securitized positions and cash for liquidity management. By targeting investment-grade corporate credit with limited duration, PGIM Short-Term Corporate Bond Fund – Class Z aims to provide a steady income stream and a defensive stance against rate fluctuations within the broader fixed income market.
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