PXBAX Fees and Costs — PGIM International Bond Fund, Class A
Data updated: 2023-09-25
The net expense ratio is 0.99%: a 0.50% management fee, a 0.25% 12b-1 fee plus 3.54% other expenses, less a 3.30% fee waiver. This share class carries a maximum front-end sales load of 3.25% and a deferred sales charge of up to 1.00%. In fiscal 2022 the fund paid $5K in broker commissions, 0.0152% of average net assets, and portfolio turnover was 17%.
PXBAX Fees and Expenses
Annual operating expenses and sales charges of PXBAX. Prospectus, as of January 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.54% |
| Gross expense ratio | 4.29% |
| Fee waiver | −3.30% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PXBAX Costs Over Time
On $10,000 invested in PXBAX, assuming 5% a year before costs, total costs come to $1,023 over 5 years, cutting the return by 1.74% 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 |
| Sales charges | $426 | $325 | $325 |
| Fund expenses (net expense ratio 0.99%) | $101 | $314 | $544 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $16 | $67 | $146 |
| Total costs | $544 | $711 | $1,023 |
| Value after costs | $9,956 | $10,866 | $11,740 |
| Impact on return, per year | 5.44% | 2.19% | 1.74% |
PXBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0152%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $10.4M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
PXBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $3K | 71.31% |
| CITIGROUP GLOBAL MARKETS INC. | $1K | 26.49% |
| BOFA SECURITIES, INC. | $61 | 1.31% |
| MORGAN STANLEY & CO. LLC | $25 | 0.54% |
| GOLDMAN SACHS & CO. LLC | $16 | 0.34% |
PXBAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP. | $2.8M | 32.93% |
| MORGAN STANLEY & CO. LLC | $1.2M | 13.80% |
| HSBC SECURITIES (USA), INC. | $980K | 11.38% |
| J.P. Morgan Securities LLC | $964K | 11.19% |
| BOFA SECURITIES, INC. | $577K | 6.69% |
| DEUTSCHE BANK SECURITIES, INC. | $508K | 5.89% |
| CREDIT SUISSE SECURITIES (USA) LLC | $431K | 5.00% |
| Daiwa Capital Markets America, Inc. | $414K | 4.80% |
| STANDARD CHARTERED SECURITIES NORTH AMERICA LLC | $389K | 4.52% |
| CitiGroup Global Markets Inc. | $327K | 3.79% |
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.