About PADAX
PGIM Absolute Return Bond Fund Class A is a mutual fund designed to pursue positive returns over the long term, irrespective of prevailing market conditions. The fund primarily invests at least 80% of its assets in a diversified portfolio of fixed income instruments, which can include government bonds, money market instruments, repurchase agreements, and asset-backed securities. Notably, it maintains a flexible mandate, seeking opportunities across global fixed income sectors and may deploy various securities and hedging techniques to manage risk and optimize return potential.
The fund’s goal is not to track a specific benchmark, but to deliver absolute performance over different market cycles, making it a distinctive option for investors seeking consistent bond exposure with potential for downside protection. With over 1,200 individual holdings and assets exceeding $1 billion, it has significant diversification across credit types and maturities. Regular monthly dividends further reflect its income-oriented approach. PGIM, as the fund’s management company, leverages global research and active risk management to pursue its investment objective. The fund appeals to investors seeking an all-weather bond solution focused on stability and adaptable investment strategies within the fixed income landscape.
Fund Family PGIM
Category Nontraditional Bond
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol PADAX
Share Class Class A
Index ICE BofA US 3-Month T Bill TR IX
PADAX had a total return of 4.88% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.16%.
