PNMCX

About PNMCX

PGIM National Muni Fund Class C is an open-end municipal bond mutual fund designed to provide a high level of current income that is exempt from federal income taxes. It invests primarily in a diversified portfolio of U.S. municipal bonds, with a policy to keep the majority of assets in investment‑grade securities under normal conditions. The strategy emphasizes long-term municipal obligations, aiming to balance income generation with capital preservation across states and sectors such as general obligation, revenue, and essential-service issuers. Managed by PGIM, the fund typically maintains broad credit and geographic exposure to help reduce issuer-specific risk while focusing on federally tax‑exempt income distributed monthly. Class C shares include distribution and service fees characteristic of this share class structure. The fund’s role in the market is to offer tax-advantaged fixed income exposure for investors seeking municipal bond income without taking on the concentration risk of single-issuer holdings, leveraging professional credit research and active portfolio management to navigate interest rate and credit cycles in the municipal market.