PGIM Jennison Utility Fund Class R6 (PRUQX)

Overview

The company operates as a specialized investment fund, primarily targeting the utility sector. It commits at least 80% of its investable assets towards acquiring equity and equity-related as well as investment-grade debt securities of utility companies. The term "investable assets" is defined as the fund’s net assets in addition to any borrowings intended for investment purposes. It is crucial to note that the fund’s investable assets amount to less than its total assets to the extent that it engages in borrowing for reasons other than investment, such as managing anticipated redemptions. This fund is characterized by its non-diversified status, indicating a concentrated investment strategy in the utility sector.

Products and Services

• Equity and Equity-Related Securities of Utility Companies

  This product involves investment in stocks and related securities of utility companies. These investments aim to tap into the potential growth and income generated by the utility sector, including companies involved in the production and delivery of utilities such as water, gas, and electricity.

• Investment-Grade Debt Securities of Utility Companies

  The fund also allocates a portion of its investable assets to purchasing high-quality (investment-grade) debt securities issued by utility companies. This strategy is designed to combine regular income with a moderate level of risk, targeting securities that are deemed to have a lower risk of default due to their investment-grade rating.

• Borrowing for Investment Purposes

  The fund's strategy includes borrowing for investment purposes, enhancing its capacity to make significant investments beyond its net assets. This approach can potentially increase returns but also involves a higher risk level, given that borrowing magnifies the effects of both gains and losses.