PGIM Jennison 20/20 Focus Fund

C000012443 Fund Overview

PGIM Jennison 20/20 Focus Fund is a US mutual fund managed by Prudential Investment Portfolios 18, categorised as Emerging Markets Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Prudential Investment Portfolios 18
• Category: Emerging Markets Growth Equity
• Assets under management: $1.17B
• SEC CIK: 0001052118
• SEC series ID: S000004540
• Share class ID: C000012443

C000012443 Investment Objective and Strategy

PGIM Jennison 20/20 Focus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Prudential Investment Portfolios 18.

Investment objective

The investment objective of the Fund is long-term growth of capital .

Principal investment strategy

The Fund seeks investments whose prices will increase over several years. The Funds investment subadviser normally invests at least 80% of the Fund's total assets in approximately 40 (which may range up to 50) equity and equity-related securities of companies that it believes have strong capital appreciation potential. Equity and equity-related securities in which the Fund primarily invests are common stocks, nonconvertible preferred stocks and convertible securities. The Fund participates in the initial public offering (IPO) market. The Fund may actively trade its portfolio securities. The Fund may invest up to 35% of its total assets in foreign securities. Foreign securities may include securities from emerging markets. In deciding which stocks to buy, the subadviser uses what is known as a growth investment style for half of the portfolio's assets.

This means that for the growth portion, it invests in stocks that it believes could experience superior sales or earnings growth. In deciding which stocks to buy for the other half of the portfolio, the subadviser uses what is known as a value investment style. This means that for the value portion, it invests in stocks that the subadviser believes are undervalued, given the company's earnings, assets, cash flow and dividends. The Fund's strategy is to combine the efforts of two portfolio managers, one growth portfolio manager and one value portfolio manager, who are each responsible for selecting the securities within their discipline. This strategy may result in the Fund holding approximately 40 (which may range up to 50) securities in total, consisting of approximately 20 growth and 20 value securities.

In a concentrated portfolio such as the Fund, prudent securities selection is especially important. The subadviser purchases securities in which the portfolio managers have a high level of conviction for outperformance in the intermediate and long term and believe have limited downside potential in the short term. In general, the decision to sell a portfolio stock reflects both company fundamentals and market action. There are three factors that will generally lead the portfolio managers to eliminate a holding or reduce the weight of the position in the portfolio: a change in the stock's fundamentals that is viewed as unfavorable; the balance between the team's estimate of a stock's upside and downside becomes neutral or unfavorable, or stated differently, the stock's valuation is realized or exceeded; or a more attractive portfolio candidate emerges.

C000012443 Costs and Fees

C000012443 costs about $252 per $10,000 invested per year in fund expenses.

• Net expense ratio: 2.52%
• Gross expense ratio: 2.52%
• Portfolio turnover: 74%
• Brokerage commissions: 3.10 bps of average net assets (SEC N-CEN)

C000012443 Cashflows

Over the 12 months to 2021-11, PGIM Jennison 20/20 Focus Fund had net inflows of $382.56M, from monthly SEC N-PORT filings.

C000012443 Debt Constituents

No individual debt constituents are reported in PGIM Jennison 20/20 Focus Fund's latest SEC N-PORT filing.

C000012443 Prospectus and SEC Filings

Official PGIM Jennison 20/20 Focus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-01-29
• Prospectus (485BPOS) — filed 2020-02-14
• Prospectus (485BPOS) — filed 2019-02-13
• Portfolio holdings (N-PORT) — filed 2022-01-21
• Portfolio holdings (N-PORT) — filed 2021-10-26
• Portfolio holdings (N-PORT) — filed 2021-07-27
• Annual census (N-CEN) — filed 2022-02-10
• Annual census (N-CEN) — filed 2021-02-05

Related Funds

Other Emerging Markets Growth Equity funds tracked on ABC INVEST:

• Motley Fool Global Opportunities Fund (FOOLX)
• AMG Managers Special Equity Fund (MGSEX)
• CLS Global Aggressive Equity Fund (CLACX)
• Cavalier Growth Opportunities Fund (CATEX)
• The Tocqueville Opportunity Fund (TOPPX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.