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Name

As of 08/23/2021

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM QMA Large-Cap Core Equity PLUS Fund

PQMQX | Fund

$14.46

$29.1 M

0.69%

$0.10

1.19%

Vitals

YTD Return

30.3%

1 yr return

30.4%

3 Yr Avg Return

8.2%

5 Yr Avg Return

N/A

Net Assets

$29.1 M

Holdings in Top 10

29.4%

52 WEEK LOW AND HIGH

$14.5
$10.30
$14.47

Expenses

OPERATING FEES

Expense Ratio 1.19%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 107.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 08/23/2021

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM QMA Large-Cap Core Equity PLUS Fund

PQMQX | Fund

$14.46

$29.1 M

0.69%

$0.10

1.19%

PQMQX - Profile

Distributions

  • YTD Total Return 30.3%
  • 3 Yr Annualized Total Return 8.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.90%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    PGIM QMA Large-Cap Core Equity PLUS Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Sep 19, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Devang Gambhirwala

Fund Description

The Fund uses a long/short investment strategy in seeking to achieve its investment objective. This means the Fund sells short a portion of its portfolio and uses the proceeds of the shorts, or other borrowings, to purchase additional stocks long. The Fund will generally implement its long/short strategy primarily through selling securities short and borrowing money from banks to invest in long positions held by the Fund, as permitted under the Investment Company Act of 1940 (the 1940 Act). This investment technique is known as “leverage.” When the Fund is borrowing money for investment purposes or otherwise leveraging its portfolio, any increase or decrease in the Fund's net asset value (NAV) is exaggerated by the use of leverage. These exposures may change due to price movements between rebalances. The use of leverage may also cause the Fund to liquidate positions when it may not be advantageous to do so to satisfy its obligations or meet asset segregation requirements.In constructing its portfolio, the Fund uses a multi-factor quantitative model to evaluate each security considered for investment, and to consider the security's impact on the Fund's active risk. The subadviser describes active risk as deviation from the Fund’s benchmark index. Under normal circumstances, the Fund invests at least 80% of its investable assets (which will reflect the value of its long positions less the value of its short positions) in equity and equity-related securities of large-capitalization US issuers. The Fund considers large capitalization companies to be those with market capitalizations within the market cap range of companies included in the Russell 1000® Index or the S&P 500 Index. The Fund:■uses the Russell 3000® Index as its investment universe■targets a long exposure of 130% and a short exposure of 30% (total gross exposure of 160%)■targets a net long exposure of 100%The term “investable assets” refers to the Fund’s net assets plus any borrowings for investment purposes. The Fund’s investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.By employing this long/short “active extension” strategy, the Fund seeks to produce returns that exceed those of its benchmark index, the S&P 500 Index. The S&P 500 Index is an unmanaged, market-weighted index of over 500 stocks selected by S&P Dow Jones Indices, a division of S&P Global (S&P), on the basis of their market size, liquidity and industry group representation. The S&P 500 Index is widely regarded as representative of the performance of the larger companies in the US stock market as a whole.For long positions, the subadviser will seek to identify companies that it believes offer the potential for attractive returnsor to manage the Fund’s active risk. For short positions, the subadviser will sell securities short that it believes may not perform as well as comparable securities (i.e., securities it believes may not appreciate as much as comparable securities in rising markets, or it believes may depreciate more than comparable securities in declining markets). The subadviser will hold both long and short positions to manage the Fund's deviation from its benchmark.Selling short means that the Fund may sell a security that it does not own. The Fund borrows the security to deliver to the buyer in a short sale. The Fund must then replace the borrowed security by purchasing it at the market price at the time of replacement.For purposes of the Fund’s 80% investment policy, US issuers are issuers whose primary listing is on a securities exchange or market in the United States. The Fund may also invest in American Depository Receipts (ADRs), American Depository Shares (ADSs) and other similar receipts or shares traded in US markets. The Fund may invest in companies of any market capitalization.Operational Complexities; Relationship with Prime Broker. Selling short and investing the proceeds from the short sale in additional long positions will require a prime broker to hold the short position in the Fund’s prime brokerage account, with the custodian bank holding collateral to satisfy the collateral requirements relating to the short positions at the prime broker. As such, a tri-party custody and pledge agreement is required between the custodian bank, the prime broker, and the Fund. This structure requires setting up a pledge account with the custodian bank, which is used to satisfy the collateral requirements relating to the short positions at the prime broker. The custodian bank holds the securities from the Fund’s long position as collateral. The tri-party agreement provides for substitution of collateral, as well as for release of collateral in excess of applicable margin requirements. The tri-party structure requires a more complicated and costly support structure.Potential Conflicts: Side-by-Side Management of Long-Only and Long-Short Strategies. QMA LLC (QMA) currently manages both long-only and long-short strategies. With respect to QMA's management of these strategies side by side, the security weightings (positive or negative) in each account are typically determined by a quantitative algorithm. An independent review is performed by QMA's compliance unit to assess whether any such positions would represent a departure from a quantitative algorithm used to derive the positions in each portfolio. QMA's review is intended to identify situations where QMA would seem to have conflicting views of the same security in different portfolios. Such views may actually be reasonable and consistent due to differing portfolio constraints.
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PQMQX - Performance

Return Ranking - Trailing

Period PQMQX Return Category Return Low Category Return High Rank in Category (%)
YTD 30.3% -70.6% 46.6% 0.49%
1 Yr 30.4% 5.7% 80.6% 91.54%
3 Yr 8.2%* -3.8% 24.6% 97.75%
5 Yr N/A* 3.2% 25.6% N/A
10 Yr N/A* 2.8% 16.7% N/A

* Annualized

Return Ranking - Calendar

Period PQMQX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.0% -94.0% 2181.7% 96.62%
2022 22.9% -22.7% 41.1% 50.81%
2021 -9.4% -100.0% 4.6% 26.67%
2020 N/A -100.0% 33.2% N/A
2019 N/A -44.8% 25.0% N/A

Total Return Ranking - Trailing

Period PQMQX Return Category Return Low Category Return High Rank in Category (%)
YTD 30.3% -70.6% 46.6% 0.49%
1 Yr 30.4% 5.7% 80.6% 81.60%
3 Yr 8.2%* -3.8% 26.2% 97.14%
5 Yr N/A* 3.2% 25.6% N/A
10 Yr N/A* 2.8% 16.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PQMQX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.0% -94.0% 2181.7% 96.62%
2022 22.9% -21.6% 41.1% 50.81%
2021 -9.4% -100.0% 8.2% 53.50%
2020 N/A -100.0% 33.2% N/A
2019 N/A -13.4% 26.8% N/A

NAV & Total Return History

PQMQX - Holdings

Concentration Analysis

PQMQX Category Low Category High PQMQX % Rank
Net Assets 29.1 M 1.03 M 1.28 T 89.48%
Number of Holdings 404 2 3910 19.03%
Net Assets in Top 10 8.55 M -472 M 279 B 75.71%
Weighting of Top 10 29.41% 2.3% 100.0% 60.21%

Top 10 Holdings

  1. Microsoft Corp 6.27%
  2. Apple Inc 5.02%
  3. Amazon.com Inc 4.06%
  4. Facebook Inc Class A 2.97%
  5. Alphabet Inc Class A 2.58%
  6. Alphabet Inc Class C 2.24%
  7. Johnson & Johnson 1.72%
  8. Visa Inc Class A 1.61%
  9. Adobe Inc 1.50%
  10. UnitedHealth Group Inc 1.43%

Asset Allocation

Weighting Return Low Return High PQMQX % Rank
Stocks 		99.68% 0.00% 151.27% 46.17%
Cash 		0.28% -93.93% 50.20% 55.79%
Other 		0.05% -15.82% 100.00% 7.72%
Preferred Stocks 		0.00% 0.00% 5.20% 91.10%
Convertible Bonds 		0.00% 0.00% 8.98% 90.77%
Bonds 		0.00% -0.36% 87.09% 91.44%

Stock Sector Breakdown

Weighting Return Low Return High PQMQX % Rank
Technology 		25.68% 0.00% 77.07% 23.73%
Healthcare 		16.63% 0.00% 59.20% 17.85%
Consumer Cyclical 		12.02% 0.00% 53.38% 33.11%
Industrials 		11.18% 0.00% 62.11% 34.52%
Financial Services 		10.25% 0.00% 67.99% 84.01%
Communication Services 		9.88% 0.00% 35.35% 55.71%
Consumer Defense 		4.87% 0.00% 50.98% 78.59%
Basic Materials 		4.39% 0.00% 30.96% 20.34%
Real Estate 		1.97% 0.00% 84.43% 60.40%
Energy 		1.95% 0.00% 19.56% 58.93%
Utilities 		1.17% 0.00% 31.26% 69.21%

Stock Geographic Breakdown

Weighting Return Low Return High PQMQX % Rank
US 		99.56% 0.00% 148.77% 12.03%
Non US 		0.12% 0.00% 63.63% 87.69%

PQMQX - Expenses

Operational Fees

PQMQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.19% 0.01% 4.53% 19.24%
Management Fee 0.80% 0.00% 2.00% 91.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.95% N/A

Sales Fees

PQMQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PQMQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PQMQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 107.00% 0.00% 363.00% 91.31%

PQMQX - Distributions

Dividend Yield Analysis

PQMQX Category Low Category High PQMQX % Rank
Dividend Yield 0.69% 0.00% 1.96% 92.46%

Dividend Distribution Analysis

PQMQX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Semi-Annually Monthly Monthly

Net Income Ratio Analysis

PQMQX Category Low Category High PQMQX % Rank
Net Income Ratio 0.90% -2.09% 2.53% 55.15%

Capital Gain Distribution Analysis

PQMQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually

Distributions History

View More +

PQMQX - Fund Manager Analysis

Managers

Devang Gambhirwala

Start Date

Tenure

Tenure Rank

Sep 19, 2017

3.87

3.9%

Devang Gambhirwala is a Principal and Portfolio Manager for QMA working within the Quantitative Equity team. In this capacity, he is responsible for managing US Core, Long Short and Market Neutral strategies. He is also responsible for the management of structured products. Prior to joining QMA, Devang worked as a Quantitative Research Analyst and Assistant Portfolio Manager for PGIM. He earned a BS in Computer and Information Sciences from the New Jersey Institute of Technology and an MBA from Rutgers University.

Stacie Mintz

Start Date

Tenure

Tenure Rank

Sep 19, 2017

3.87

3.9%

Stacie L. Mintz, CFA, is a Managing Director and Portfolio Manager for QMA working within the Quantitative Equity team. In this capacity, she manages US Core, Long Short and Market Neutral strategies, as well as overseeing the team responsible for implementation. Prior to her current role, Stacie was a member of the Global Multi-Asset Solutions team, where she was responsible for several retail and institutional portfolios. In addition, during that time, she was responsible for managing the overall asset allocation for the Prudential Pension Plan. She earned a BA in Economics from Rutgers University, an MBA in Finance from New York University and holds the Chartered Financial Analyst (CFA) designation.

Peter Xu

Start Date

Tenure

Tenure Rank

Sep 19, 2017

3.87

3.9%

Peter Xu, PhD, is a Managing Director and Co-Head of QMA’s Quantitative Equity team and Head of US Core, Long Short and Market Neutral strategies. In this capacity, he conducts research on higher alpha and alternative strategies. For over 20 years, Peter has played a critical role in the evolution of QMA's quantitative models and investment process. He has published articles in a number of journals, including The Financial Analysts Journal, The Journal of Portfolio Management, The Journal of Asset Management, The Journal of Investing and Review of Quantitative Finance and Accounting. Peter earned a BS in Nuclear Physics from Fudan University in Shanghai, an MA in Economics from Rice University and a PhD in Finance from the University of Houston.

Patrick McDonough

Start Date

Tenure

Tenure Rank

Feb 12, 2021

0.46

0.5%

Patrick McDonough is a Principal and Portfolio Manager for QMA working within the Quantitative Equity team. In this capacity, he serves as a subject matter expert, and performs research and analysis for Quantitative Equity portfolios. Prior to joining QMA, Patrick was a Global Portfolio Strategist at State Street Global Advisors, with a focus on quantitative strategies. Previously, Patrick worked at Goldman Sachs, first as a Researcher on the Quantitative Investment Strategies team and then as Co-Head of Systematic Strategies at GSAM AIMS, providing solutions for OCIO and high net worth clients. Patrick was also a Quantitative Portfolio Manager and Researcher for the Multi-Asset Solutions team at AllianceBernstein. He earned a BA in both history and economics at the College of the Holy Cross.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 38.19 6.5 1.58

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