PGIM Short Duration Muni Fund Q3 2025 Commentary
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PGIM Investments37 FollowersFollow5ShareSavePlay(6min)CommentsSummaryFor the quarter, the PGIM Short Duration Muni Fund Class Z returned 2.22% net of fees and outperformed its benchmark, the Bloomberg 1-8 Year Municipal Index.The Fund's security selection in Housing bonds, and an overweight position in Airport bonds contributed to performance as spreads tightened.The Fund's security selection in IDB & PCR detracted from performance, driven by positioning in Metals and Waste Management bonds.Muni rates remain attractive in both absolute terms and relative to Treasuries.Given the rate volatility, we seek to build durable portfolio(s) that hit alpha target(s) while maintaining index duration. Andrii Dodonov/iStock via Getty Images Performance Recap For the quarter, the PGIM Short Duration Muni Fund Class Z returned 2.22% net of fees and outperformed its benchmark, the Bloomberg 1-8 Year Municipal Index, gross of fees.
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