Prudential Total Return Bond Fund portfolio managers named Morningstar Fixed-Income Fund Manager of the Year

The fund has spent the last 15 consecutive years ranked among the top half of its peers

PGIM Investments is proud to announce that the PGIM Fixed Income portfolio managers of the Prudential Total Return Bond Fund (PDBZX) have been named Morningstar’s 2017 Fixed-Income Fund Manager of the Year. PGIM Investments is the global retail manufacturer and distributor of PGIM, Inc., the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE:PRU) – a top 10 asset manager globally.1

The five-star rated fund is managed by Robert Tipp, CFA; Michael Collins, CFA; and Richard Piccirillo and Gregory Peters, who together average 27 years of investment experience. PGIM Fixed Income is a leading provider of active global fixed income solutions that has been managing assets for over 140 years, and is one of the largest and most experienced fixed income managers in the industry.

In recognizing the portfolio management team, Morningstar’s Brian Moriarty states, “The overall group is run by CIO Mike Lillard, and his earlier role as head of risk management gives a window into the priorities of the team and this fund. This portfolio carries well-defined risk guidelines and benefits from the methodical, deep, and broad research across sectors and disciplines of roughly 125 portfolio managers, 100 analysts, and 50 quantitative and risk-management pros.”2

In 2017, the Prudential Total Return Bond Fund outperformed its benchmark, the Bloomberg Barclays U.S. Aggregate by 3.08%, ranking in the top 2%3 of its Morningstar category. Over the last 10 years it has outperformed its benchmark by 1.98% annually and ranked in the top 1%3 of the category by return and top 2%3 by information ratio. It has spent the last 15 consecutive years ranked among the top half of its peers, with 11 of those years being in the top quartile.3

The Fund also became the #1 active3 asset-gathering fund in the Morningstar intermediate-term bond category and the #2 active3 asset-gathering fund across all Morningstar categories. The Fund ended the year with $30 billion in assets under management.

“The managers of the Prudential Total Return Bond Fund have consistently sought to provide investors with the best opportunities in all sectors of the fixed income market. The team’s stewardship of the Fund and their consistent results reflect PGIM Fixed Income’s vision to be widely regarded as a premier, active global fixed income manager,” said Michael Lillard, head of PGIM Fixed Income and chief investment officer.

"It’s an honor to be recognized by Morningstar,” said Stuart Parker, CEO and president of PGIM Investments. “This award is not only acknowledgment of the incredible contributions of this team, but is a testament to our world-class fixed income capabilities that add value to our clients and shareholders.”

Established in 1988, the Morningstar Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers’ funds must have not only posted impressive returns for the year, but also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders.