SREAX Fees and Costs — PGIM Select Real Estate Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.30%: a 0.80% management fee, a 0.30% 12b-1 fee plus 0.54% other expenses, less a 0.34% fee waiver. This share class carries a maximum front-end sales load of 5.50% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $346K in broker commissions, 0.1779% of average net assets, and portfolio turnover was 136%.
SREAX Fees and Expenses
Annual operating expenses and sales charges of SREAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.30% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.64% |
| Fee waiver | −0.34% |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
SREAX Costs Over Time
On $10,000 invested in SREAX, assuming 5% a year before costs, total costs come to $1,567 over 5 years, cutting the return by 2.72% 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 | $648 | $550 | $550 |
| Fund expenses (net expense ratio 1.30%) | $129 | $400 | $691 |
| Trading costs (broker commissions) | $18 | $55 | $95 |
| Lost growth on money paid in costs | $27 | $109 | $232 |
| Total costs | $822 | $1,115 | $1,567 |
| Value after costs | $9,678 | $10,462 | $11,196 |
| Impact on return, per year | 8.22% | 3.48% | 2.72% |
SREAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1779%
- Total broker commissions: $346K
- Bought from dealers (principal trades, not a cost): $10.2M
- Portfolio turnover (prospectus): 136%
- Securities on loan, average value: $2.1M
- Net income from securities lending: $6K (0.003% of average net assets)
SREAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $48K | 22.99% |
| BNP Paribas Securities Corp. | $30K | 14.18% |
| BOFA SECURITIES, INC. | $22K | 10.61% |
| JEFFERIES LLC | $19K | 8.88% |
| VIRTU AMERICAS LLC | $18K | 8.74% |
| JP MORGAN SECURITIES LLC | $18K | 8.51% |
| MIZUHO SECURITIES (USA) INC. | $16K | 7.73% |
| Truist Securities, Inc. | $13K | 6.24% |
| DBS Vickers Securities (USA) Inc. | $13K | 6.21% |
| BMO CAPITAL MARKETS CORP. | $12K | 5.91% |
SREAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5.8M | 56.84% |
| BOFA SECURITIES, INC. | $2.5M | 24.54% |
| WELLS FARGO SECURITIES, LLC | $1.8M | 17.48% |
| VAN LANSCHOT KEMPEN (USA) INC. | $117K | 1.15% |
PGIM Select Real Estate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SREQX | Class R6 | 1.01% | none |
| SREZX | Class Z | 1.05% | none |
| SREAX | Class A | 1.30% | 5.50% |
| SRECX | Class C | 2.05% | none |
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.