Fund Facts  

Inception Date: Jan 22, 1990
CUSIP: 74441P858
Ticker Symbol: PRUAX
Morningstar Category:Utilities
As of Jun 30, 2022
Fund Net Assets ($millions) $3,451

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks total return through a combination of capital appreciation and current income.

Principal Investment Strategies  

The fund normally invests at least 80% of its investable assets in equity and equity-related and investment-grade debt securities of utility companies. 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. It is non-diversified.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2022
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
PGIM Jennison Utility Aa-7.79%-4.22%7.04%7.95%9.08%10.67%9.98%
S&P 500 Utilities Indexa,b-5.09%-0.55%14.30%9.01%9.78%10.47%N/A
Morningstar Utilitiesa,c-6.31%-2.34%8.33%6.78%8.03%9.37%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at www.icmarc.org, or institutions can go to www.investments.missionsq.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa
Gross Expenses0.82%
Net Expenses0.82%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2022 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The S&P 500 Utilities Index is an unmanaged market cap-weighted index of natural gas and electric companies.

c. The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Mar 22, 2019Mar 22, 2019$0.067430000
Dec 24, 2018Dec 24, 2018$0.957150000
Sep 21, 2018Sep 21, 2018$0.063180000
Jun 22, 2018Jun 22, 2018$0.091210000
Mar 23, 2018Mar 23, 2018$0.089730000
Dec 26, 2017Dec 26, 2017$0.387590000
Sep 22, 2017Sep 22, 2017$0.081010000
 

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2022
Period Stars Category Size
Overall 5 Stars59
3-Year 5 Stars59
5-Year 4 Stars55
10-Year 5 Stars48

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Allocation of Assets As of May 31, 2022
Type of Asset Percent
Equity98%
Fixed Income0%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of May 31, 2022
Asset ClassPercent
Domestic Stock91.7%
Foreign Stock6.2%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash2.0%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 

Top Ten Holdings As of May 31, 2022
Holding NamePercent
NextEra Energy Inc9.1%
CenterPoint Energy Inc5.4%
Cheniere Energy Inc5.1%
Ameren Corp4.3%
Dominion Energy Inc4.3%
Public Service Enterprise Group Inc4.2%
Targa Resources Corp4.0%
CMS Energy Corp3.9%
Exelon Corp3.8%
Entergy Corp3.6%
 

Statistics

Portfolio Statistics As of Jun 30, 2022
Statistic3-Year5-Year
Beta0.860.86
Alpha0.070.46
Standard Deviation16.4614.22
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2022 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with MissionSquare Retirement or its affiliates. MissionSquare Retirement does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.