C000226564 Fees and Costs — PSF PGIM Flexible Managed Portfolio, Class III
Data updated: 2026-08-26
The net expense ratio is 0.87%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $244K in broker commissions, 0.0048% of average net assets, and portfolio turnover was 117%.
C000226564 Fees and Expenses
Annual operating expenses and sales charges of C000226564. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.87% |
| Fee waiver | — |
| Net expense ratio | 0.87% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000226564 Costs Over Time
On $10,000 invested in C000226564, assuming 5% a year before costs, total costs come to $549 over 5 years, cutting the return by 0.92% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.87%) | $91 | $285 | $496 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $92 | $301 | $549 |
| Value after costs | $10,408 | $11,275 | $12,214 |
| Impact on return, per year | 0.92% | 0.92% | 0.92% |
C000226564 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0048%
- Total broker commissions: $244K
- Bought from dealers (principal trades, not a cost): $3.5B
- Portfolio turnover (prospectus): 117%
- Securities on loan, average value: $70.8M
- Net income from securities lending: $98K (0.002% of average net assets)
C000226564 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $32K | 20.69% |
| BOFA SECURITIES, INC. | $20K | 12.77% |
| UBS Securities LLC | $19K | 12.11% |
| BARCLAYS CAPITAL, INC. | $15K | 9.44% |
| GUZMAN & COMPANY | $14K | 8.70% |
| CitiGroup Global Markets Inc. | $12K | 7.82% |
| DREXEL HAMILTON LLC | $11K | 7.33% |
| SAMUEL A RAMIREZ & CO., INC. | $11K | 7.26% |
| Raymond James & Associates, Inc. | $11K | 6.98% |
| LOOP CAPITAL MARKETS LLC | $11K | 6.89% |
C000226564 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $708.8M | 21.74% |
| Goldman Sachs & Co. LLC | $585.8M | 17.96% |
| WELLS FARGO SECURITIES, LLC | $446.6M | 13.69% |
| MORGAN STANLEY & CO. LLC | $379.1M | 11.62% |
| BOFA SECURITIES, INC. | $361.3M | 11.08% |
| CitiGroup Global Markets Inc. | $326.9M | 10.02% |
| BARCLAYS CAPITAL, INC. | $232.5M | 7.13% |
| Mizuho Securities USA LLC | $103.6M | 3.18% |
| Daiwa Capital Markets America, Inc. | $67.8M | 2.08% |
| DEUTSCHE BANK SECURITIES, INC. | $48.6M | 1.49% |
PSF PGIM Flexible Managed Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000005723 | Class I | 0.62% | — |
| C000226564 | Class III | 0.87% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.