PGIM National Muni Fund Q3 2025 Commentary
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PGIM Investments37 FollowersFollow5ShareSavePlay(6min)CommentsSummaryFor the quarter, the PGIM National Muni Fund Class Z returned 2.58% net of fees and outperformed the Bloomberg 1-15 Year Municipal Bond Index gross of fees.In Q3, the Fed resumed its rate cutting policy, with a 25-bp cut in September.The Fund's overweight to Prepay Gas contributed to performance.We favor student loans, affordable housing, and prepay gas and are avoiding names that are more susceptible to funding cuts. noLimit46/iStock via Getty Images PERFORMANCE RECAP For the quarter, the PGIM National Muni Fund Class Z (DNMZX) returned 2.58% net of fees and outperformed the Bloomberg 1-15 Year Municipal Bond Index gross of fees.
Key Contributors The Fund's positioning This article was written byPGIM Investments37 FollowersFollowPGIM Investments, a subsidiary of PFI, is an investment adviser and the investment manager to all PGIM US open-end investment companies and manager or administrator to closed-end investment companies. Note: This account is not managed or monitored by PGIM Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use PGIM Investments' official channels.