PTZLX — PGIM QMA Global Tactical Allocation Fund

PTZLX Fund Overview

PTZLX — PGIM QMA Global Tactical Allocation Fund is a US mutual fund managed by Prudential Investment Portfolios 3, categorised as Money Market. 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 3
• Category: Money Market
• Assets under management: $38.20M
• 1-year return: 15.9%
• Ticker: PTZLX
• SEC CIK: 0001104631
• SEC series ID: S000049000
• Share class ID: C000154505

PTZLX Investment Objective and Strategy

PGIM QMA Global Tactical Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Prudential Investment Portfolios 3.

Investment objective

The investment objective of the Fund is long-term risk adjusted total return .

Principal investment strategy

In seeking long-term risk adjusted total return, the Fund will balance the level of risk with the return opportunities of its investments. To access return opportunities the Fund will utilize targeted long and short exposures to diverse potential sources of return across and within global equities, global bonds, commodities and currencies markets (also referred to herein as the asset classes). A long exposure will benefit the Fund when the underlying asset increases in price. A short exposure will benefit the Fund when the underlying asset decreases in price. Quantitative Management Associates LLC, the Funds subadviser (QMA or the subadviser), employs macro asset allocation strategies and relative value cross-sectional strategies in managing the Funds portfolio. The macro asset allocation strategies have a strategic and a tactical component.

The strategic component provides exposure to global economic growth. The tactical component shifts exposures to asset classes that QMA believes are attractive investments within the market environment. In addition, the relative value strategies will buy attractive long investments within a single asset class and sell short those that are less attractive, while generally remaining dollar neutral to the particular asset class. Both macro asset allocation and relative value strategies target several potential diverse sources of return such as valuation, momentum, carry and economic growth. The Fund will primarily gain exposure to the asset classes by investing in varying combinations of futures, spot transactions, forwards, swaps and options. The Fund will obtain its exposure to commodities markets through its investment in the Prudential QMA Global Tactical Allocation Subsidiary, Ltd., a wholly-owned subsidiary of the Fund organized in the Cayman Islands (Cayman Subsidiary).

The Fund also will invest a significant portion of its assets directly or indirectly in cash and/or high quality, short-term instruments, which may include government securities, government agency securities, and money market instruments and funds (collectively, cash and cash equivalent investments). A portion of the cash or cash equivalent investments in the Fund and in the Cayman Subsidiary will serve as margin or collateral. The Fund may invest up to 10% of its total assets in exchange-traded funds (ETFs). The Fund is non-diversified for purposes of the Investment Company Act of 1940 (the 1940 Act), which means it may invest in a smaller number of issuers than a diversified fund. The Fund will invest in instruments providing exposure to equities, fixed income, currencies and commodities throughout the world, including the US.

As a fund that invests globally, the Fund has a principal strategy to generally invest the Funds assets in investments that maintain exposure to at least four countries (including the US). The Fund will enter into certain derivative instruments and transactions that create leverage, such as futures, forwards, swaps, options and short sales (collectively, effective leverage). The Fund may employ effective leverage in addition to any borrowings permitted by the Funds policies and restrictions with respect to borrowing. As noted above, the Fund gains exposure to the commodity markets primarily through the Funds investment in the Cayman Subsidiary. The Cayman Subsidiary will invest in exchange-traded futures on commodities, commodity swaps and other commodity-related instruments and/or ETFs that would generate non-qualifying income under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code), if owned directly by the Fund.

The Fund may invest up to 25% of its total assets in the Cayman Subsidiary. The Cayman Subsidiary may invest in commodity investments without limit, subject to any asset segregation requirements. The Fund invests in the Cayman Subsidiary in order to gain exposure to commodities within the limitations of the US federal tax law requirements applicable to regulated investment companies (RICs) such as the Fund. The Fund may also gain direct exposure to commodities through direct investments in certain ETFs. The Cayman Subsidiary is subject to the same investment restrictions and limitations, and follows the same compliance policies and procedures, as the Fund. The Fund and the Cayman Subsidiary will test for compliance with certain investment restrictions and limitations on a consolidated basis.

Segregation of Assets. As an open-end investment company registered with the Securities and Exchange Commission (SEC), the Fund is subject to the federal securities laws, including 1940 Act, the rules thereunder, and various interpretive positions of the SEC and the staff of the SEC. In accordance with these laws, rules and positions, the Fund must set aside unencumbered cash or liquid securities, or engage in other measures, to cover open positions with respect to certain kinds of derivative instruments. This practice is often referred to as asset segregation. In the case of futures contracts that are not contractually required to cash settle, for example, the Fund must set aside liquid assets equal to such contracts full notional value while the positions are open, except as described below.

With respect to futures contracts that are contractually required to cash settle, however, the Fund is permitted to set aside liquid assets in an amount equal to the Funds daily mark-to-market net obligations (i.e., the Funds daily net liability) under the contracts, if any, rather than such contracts full notional value. Futures contracts and forward contracts that settle physically will be treated as cash settled for asset segregation purposes when the Fund has entered into contractual arrangements with third party futures commission merchants or other counterparties or brokers that provide for cash settlement of these obligations. The Fund reserves the right to modify its asset segregation policies in the future to comply with any changes in the positions from time to time articulated by the SEC or its staff regarding asset segregation.

The Fund generally will use its unencumbered cash and cash equivalents to cover its obligations as required by the 1940 Act, the rules thereunder, and applicable SEC and SEC staff interpretive positions. The Manager and the subadviser will monitor the Funds use of derivatives or other investments that require asset segregation and will take action as necessary for the purpose of complying with the asset segregation policy stated above. Such actions may include the sale of the Funds portfolio investments.

PTZLX Performance

Total returns for PTZLX (as of 2026-10-01), from SEC filings.

PTZLX Risk Information

Risk metrics for PTZLX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.0%

PTZLX Costs and Fees

PTZLX costs about $121 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.21%
• Gross expense ratio: 2.63%
• Portfolio turnover: 0%
• Brokerage commissions: 6.40 bps of average net assets (SEC N-CEN)

PTZLX Cashflows

Over the 12 months to 2021-05, PGIM QMA Global Tactical Allocation Fund had net inflows of $1.45M, from monthly SEC N-PORT filings.

PTZLX Debt Constituents

No individual debt constituents are reported in PGIM QMA Global Tactical Allocation Fund's latest SEC N-PORT filing.

PTZLX Prospectus and SEC Filings

Official PGIM QMA Global Tactical Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-04-28
• Prospectus (485BPOS) — filed 2020-05-20
• Prospectus (485BPOS) — filed 2019-05-08
• Portfolio holdings (N-PORT) — filed 2021-07-27
• Portfolio holdings (N-PORT) — filed 2021-04-23
• Portfolio holdings (N-PORT) — filed 2021-01-27
• Annual census (N-CEN) — filed 2021-05-10
• Annual census (N-CEN) — filed 2020-05-06

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

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.