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PGIM Securitized Credit Fund
mutual fund
SCFOX
Payout Change
Pending
Price as of:
$9.75
-0.01
-0.1%
primary theme
Bond Sector Diversified
share class
SCFOX (Mutual Fund)
PGIM Securitized Credit Fund
Payout Change
Pending
Price as of:
$9.75
-0.01
-0.1%
primary theme
Bond Sector Diversified
share class
SCFOX (Mutual Fund)
PGIM Securitized Credit Fund
Payout Change
Pending
Price as of:
$9.75
-0.01
-0.1%
primary theme
Bond Sector Diversified
share class
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
9.1%
1 yr return
9.3%
3 Yr Avg Return
5.6%
5 Yr Avg Return
4.2%
Net Assets
$962 M
Holdings in Top 10
15.5%
52 WEEK LOW AND HIGH
$9.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.39%
SALES FEES
Front Load 3.25%
Deferred Load N/A
TRADING FEES
Turnover 58.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
SCFOX - Profile
Distributions
- YTD Total Return 9.1%
- 3 Yr Annualized Total Return 5.6%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.70%
- Dividend Yield 1.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM Securitized Credit Fund
-
Fund Family NamePrudential
-
Inception DateNov 16, 2015
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEdwin Wilches
Fund Description
Under normal market conditions, the Fund invests at least 80% of its investable assets in securitized credit investments and other similar credit instruments, including derivative instruments that provide exposure to securitized credit investments and other similar credit instruments. Securitized credit investments are also referred to as “structured product securities” or “structured products.” For purposes of the Fund’s 80% policy, securitized credit investments include secured loans backed by commercial real estate, residential real estate, commercial or consumer loans, and securitizations such as agency and non-agency mortgage-backed securities (“MBS”) (including commercial mortgage-backed securities (“CMBS”), residential mortgage-backed securities (“RMBS”), and collateralized mortgage obligations (“CMOs”)), asset-backed securities (“ABS”) (including collateralized debt obligations (“CDOs”) such as collateralized bond obligations (“CBOs”) and collateralized loan obligations (“CLOs”)), and other similar securities and related instruments.Agency MBS are issued or guaranteed by the U.S. Government, its agencies or instrumentalities, which include mortgage pass-through securities representing interests in pools of mortgage loans issued or guaranteed by the Government National Mortgage Association (“GNMA” or “Ginnie Mae”), the Federal National Mortgage Association (“FNMA or “Fannie Mae”), the Student Loan Marketing Association (“SLMA” or “Sallie Mae”) or the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”). The Fund may also invest in other fixed income instruments, which include bonds, debt or credit securities and other similar instruments issued by various U.S. and non-U.S. public or private sector entities.The term “investable assets” refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.In managing the Fund’s assets, the subadviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy and market trends. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk. The Fund may invest in a security based upon the expected total return rather than the yield of such security.The subadviser may also utilize proprietary quantitative tools (i.e., databases, data visualizations, data reporting, stochastic models, portfolio asset allocation and risk models) to support relative value trading and asset allocation for portfolio management as well as various risk models to support risk management. These proprietary quantitative tools are not used as a substitute for the discretion of portfolio managers, risk managers or researchers.Although the Fund may invest in instruments of any duration or maturity, under normal market conditions the dollar-weighted average effective duration of the Fund, including futures positions, is expected to range within -2 to +2 years.The Fund may invest in investment-grade and non-investment grade debt securities. Investment-grade debt securities are debt securities rated BBB or higher or Baa or higher or the equivalent by a nationally recognized statistical rating organization (“NRSRO”), such as S&P Global Ratings (“S&P”) or Moody's Investors Service, Inc. (“Moody's”). A rating is an assessment of the likelihood of the timely payment of interest and repayment of principal and can be useful when comparing different debt obligations. These ratings are not a guarantee of quality. The opinions of the rating agencies do not reflect market risk and they may, at times, lag behind the current financial condition of a company. In addition to investing in rated securities, the Fund may invest in unrated securities that the subadviser determines are of comparable quality to the rated securities that are permissible investments. In the event that a security receives different ratings from different NRSROs, the Fund will treat the security as being rated in the highest rating category received from a NRSRO.Debt obligations rated BBB or Baa are considered to have speculative characteristics and are riskier than higher-rated securities. Obligations rated BB by S&P or Ba by Moody's or lower are considered to be speculative with respect to their capacity to pay interest and principal and are commonly referred to as high-yield debt securities or junk bonds. These securities tend to offer higher yields, but also offer greater credit risks than higher-rated securities. Securities rated Caa by Moody's or CCC by S&P are speculative and of poor standing and may either be in default or risk of default on principal or interest payments. An investor can evaluate the expected likelihood of default by an issuer by looking at its ratings as compared to another similar issuer. If the rating of a debt security is downgraded after the Fund purchases it (or if the debt security is no longer rated), the Fund will not have to sell the security, but the subadviser will take this into consideration in deciding whether the Fund should continue to hold the security.The Fund may invest in the aggregate up to 35% of its investable assets in non-U.S. fixed income instruments (including emerging markets) and in fixed income instruments that are denominated in non-U.S. dollar currencies (including those of emerging markets). The Fund may invest in foreign debt securities, which include securities that are issued by foreign governments and corporations. Foreign government debt securities include securities issued by quasi-governmental entities, governmental agencies, supranational entities and other governmental entities denominated in foreign currencies or U.S. dollars. CLOs and other structured products that are issued in the United States or sponsored by U.S. companies but organized as Cayman or Bermuda companies are not considered non-U.S. fixed income instruments for purposes of this 35% limitation.The Fund may invest in debt obligations issued or guaranteed by the U.S. Government and U.S. Government-related entities. Some (but not all) of the U.S. Government securities and mortgage-related securities in which the Fund will invest are backed by the full faith and credit of the U.S. Government, which means that payment of interest and principal is guaranteed, but yield and market value are not.The Fund may invest in mortgage-related securities issued or guaranteed by U.S. governmental entities or private issuers. These securities are usually pass-through instruments that pay investors a share of all interest and principal payments from an underlying pool of fixed or adjustable rate mortgages.The Fund may invest in derivative instruments, including futures, options, options on futures, foreign currency forward contracts and swaps, to try to enhance return or to reduce (“hedge”) investment risks. The Fund may enter into certain derivative instruments that may provide leverage, such as engaging in futures, forwards, swaps, options and short sales (collectively, “effective leverage”).
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SCFOX - Performance
Return Ranking - Trailing
| Period | SCFOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.1% | -12.6% | 18.9% | 9.29% |
| 1 Yr | 9.3% | -13.6% | 19.8% | 8.67% |
| 3 Yr | 5.6%* | -17.2% | 13.3% | 6.03% |
| 5 Yr | 4.2%* | -15.2% | 13.2% | 10.54% |
| 10 Yr | N/A* | -7.1% | 6.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | SCFOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.7% | -12.0% | 8.9% | 53.79% |
| 2022 | -5.6% | -31.8% | 18.4% | 9.67% |
| 2021 | 2.6% | -16.2% | 25.7% | 4.92% |
| 2020 | -3.4% | -31.1% | 18.7% | 85.03% |
| 2019 | N/A | -6.1% | 15.3% | N/A |
Total Return Ranking - Trailing
| Period | SCFOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.1% | -12.6% | 18.9% | 9.29% |
| 1 Yr | 9.3% | -13.6% | 19.8% | 8.67% |
| 3 Yr | 5.6%* | -17.2% | 13.3% | 6.03% |
| 5 Yr | 4.2%* | -15.2% | 13.2% | 10.54% |
| 10 Yr | N/A* | -7.1% | 6.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | SCFOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.1% | -6.9% | 22.2% | 19.32% |
| 2022 | -1.1% | -31.8% | 21.1% | 7.77% |
| 2021 | 5.5% | -13.5% | 49.9% | 11.31% |
| 2020 | -0.2% | -28.6% | 24.1% | 86.99% |
| 2019 | N/A | -4.8% | 19.1% | N/A |
NAV & Total Return History
SCFOX - Holdings
Concentration Analysis
| SCFOX | Category Low | Category High | SCFOX % Rank | |
|---|---|---|---|---|
| Net Assets | 962 M | 2.63 M | 143 B | 43.31% |
| Number of Holdings | 340 | 4 | 9638 | 60.06% |
| Net Assets in Top 10 | 84.5 M | -204 M | 89.4 B | 67.39% |
| Weighting of Top 10 | 15.51% | 5.8% | 265.8% | 78.93% |
Top 10 Holdings
- (PIPA070) PGIM Core Government Money Market Fund 3.51%
- Connecticut Avenue Securities Trust 2023-R02 1.62%
- GS Mortgage Securities Corp Trust 2024-RVR 1.48%
- BBCMS 2020-BID Mortgage Trust 1.40%
- Freddie Mac STACR REMIC Trust 2022-DNA3 1.37%
- Freddie Mac STACR REMIC Trust 2022-DNA5 1.34%
- GreenSky Home Improvement Trust 2024-1 1.34%
- Connecticut Avenue Securities Trust 2022-R07 1.20%
- BX Trust 2024-VLT4 1.17%
- LHOME Mortgage Trust 2024-RTL4 1.08%
Asset Allocation
| Weighting | Return Low | Return High | SCFOX % Rank | |
|---|---|---|---|---|
| Bonds | 87.93% | 0.00% | 199.60% | 51.48% |
| Other | 8.84% | -75.22% | 147.15% | 33.39% |
| Cash | 3.51% | -94.66% | 99.97% | 51.01% |
| Stocks | 0.02% | -6.18% | 99.68% | 65.83% |
| Preferred Stocks | 0.00% | 0.00% | 21.58% | 68.49% |
| Convertible Bonds | 0.00% | 0.00% | 33.50% | 90.22% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SCFOX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 69.06% |
| Technology | 0.00% | 0.00% | 28.30% | 63.62% |
| Real Estate | 0.00% | 0.00% | 100.00% | 67.97% |
| Industrials | 0.00% | 0.00% | 100.00% | 74.07% |
| Healthcare | 0.00% | 0.00% | 18.60% | 65.80% |
| Financial Services | 0.00% | 0.00% | 100.00% | 76.69% |
| Energy | 0.00% | 0.00% | 100.00% | 83.88% |
| Communication Services | 0.00% | 0.00% | 100.00% | 0.87% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 66.01% |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | 71.68% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 66.23% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SCFOX % Rank | |
|---|---|---|---|---|
| US | 0.02% | -6.18% | 99.68% | 63.34% |
| Non US | 0.00% | -0.30% | 17.73% | 54.45% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | SCFOX % Rank | |
|---|---|---|---|---|
| Securitized | 65.81% | 0.00% | 99.65% | 8.86% |
| Corporate | 8.49% | 0.00% | 96.66% | 83.25% |
| Cash & Equivalents | 3.51% | 0.00% | 94.89% | 43.19% |
| Derivative | 0.04% | -75.22% | 147.15% | 38.18% |
| Government | 0.01% | 0.00% | 99.43% | 85.35% |
| Municipal | 0.00% | 0.00% | 54.26% | 63.93% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | SCFOX % Rank | |
|---|---|---|---|---|
| US | 70.64% | 0.00% | 199.60% | 63.34% |
| Non US | 17.29% | 0.00% | 74.14% | 19.34% |
SCFOX - Expenses
Operational Fees
| SCFOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.39% | 0.03% | 34.13% | 41.21% |
| Management Fee | 0.60% | 0.00% | 2.29% | 52.32% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 35.07% |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| SCFOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 3.25% | 0.00% | 5.75% | 78.81% |
| Deferred Load | N/A | 1.00% | 1.50% | 66.17% |
Trading Fees
| SCFOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| SCFOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 58.00% | 0.00% | 632.00% | 33.58% |
SCFOX - Distributions
Dividend Yield Analysis
| SCFOX | Category Low | Category High | SCFOX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.06% | 0.00% | 23.30% | 16.07% |
Dividend Distribution Analysis
| SCFOX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| SCFOX | Category Low | Category High | SCFOX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.70% | -1.55% | 11.51% | 58.48% |
Capital Gain Distribution Analysis
| SCFOX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2024 | $0.009 | OrdinaryDividend |
| Nov 29, 2024 | $0.050 | OrdinaryDividend |
| Oct 31, 2024 | $0.047 | OrdinaryDividend |
| Sep 30, 2024 | $0.052 | OrdinaryDividend |
| Aug 30, 2024 | $0.055 | OrdinaryDividend |
| Jul 31, 2024 | $0.053 | OrdinaryDividend |
| Apr 30, 2024 | $0.047 | OrdinaryDividend |
| Mar 28, 2024 | $0.051 | OrdinaryDividend |
| Feb 29, 2024 | $0.048 | OrdinaryDividend |
| Jan 31, 2024 | $0.052 | OrdinaryDividend |
| Dec 29, 2023 | $0.053 | OrdinaryDividend |
| Nov 30, 2023 | $0.055 | OrdinaryDividend |
| Oct 31, 2023 | $0.054 | OrdinaryDividend |
| Sep 29, 2023 | $0.054 | OrdinaryDividend |
| Aug 31, 2023 | $0.052 | OrdinaryDividend |
| Jul 31, 2023 | $0.051 | OrdinaryDividend |
| Jun 30, 2023 | $0.051 | OrdinaryDividend |
| May 31, 2023 | $0.052 | OrdinaryDividend |
| Apr 28, 2023 | $0.047 | OrdinaryDividend |
| Mar 31, 2023 | $0.051 | OrdinaryDividend |
| Feb 28, 2023 | $0.045 | OrdinaryDividend |
| Jan 31, 2023 | $0.048 | OrdinaryDividend |
| Dec 30, 2022 | $0.046 | OrdinaryDividend |
| Dec 22, 2022 | $0.070 | OrdinaryDividend |
| Nov 30, 2022 | $0.041 | OrdinaryDividend |
| Oct 31, 2022 | $0.039 | OrdinaryDividend |
| Sep 30, 2022 | $0.037 | OrdinaryDividend |
| Aug 31, 2022 | $0.033 | OrdinaryDividend |
| Jul 29, 2022 | $0.029 | OrdinaryDividend |
| Jun 30, 2022 | $0.025 | OrdinaryDividend |
| May 31, 2022 | $0.024 | OrdinaryDividend |
| Apr 29, 2022 | $0.022 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Feb 28, 2022 | $0.018 | OrdinaryDividend |
| Jan 31, 2022 | $0.021 | OrdinaryDividend |
| Dec 31, 2021 | $0.021 | OrdinaryDividend |
| Dec 23, 2021 | $0.011 | OrdinaryDividend |
| Nov 30, 2021 | $0.021 | OrdinaryDividend |
| Oct 29, 2021 | $0.020 | OrdinaryDividend |
| Sep 30, 2021 | $0.020 | OrdinaryDividend |
| Aug 31, 2021 | $0.021 | OrdinaryDividend |
| Jul 30, 2021 | $0.019 | OrdinaryDividend |
| Jun 30, 2021 | $0.022 | OrdinaryDividend |
| May 28, 2021 | $0.019 | OrdinaryDividend |
| Apr 30, 2021 | $0.018 | OrdinaryDividend |
| Mar 31, 2021 | $0.019 | OrdinaryDividend |
| Feb 26, 2021 | $0.018 | OrdinaryDividend |
| Jan 29, 2021 | $0.019 | OrdinaryDividend |
| Dec 31, 2020 | $0.019 | OrdinaryDividend |
| Nov 30, 2020 | $0.020 | OrdinaryDividend |
| Oct 30, 2020 | $0.020 | OrdinaryDividend |
| Sep 30, 2020 | $0.001 | ReturnOfCapital |
| Sep 30, 2020 | $0.025 | OrdinaryDividend |
| Aug 31, 2020 | $0.000 | ReturnOfCapital |
| Aug 31, 2020 | $0.019 | OrdinaryDividend |
| Jul 31, 2020 | $0.001 | ReturnOfCapital |
| Jul 31, 2020 | $0.023 | OrdinaryDividend |
| Jun 30, 2020 | $0.001 | ReturnOfCapital |
| Jun 30, 2020 | $0.022 | OrdinaryDividend |
| May 29, 2020 | $0.000 | ReturnOfCapital |
| May 29, 2020 | $0.019 | OrdinaryDividend |
| Apr 30, 2020 | $0.001 | ReturnOfCapital |
| Apr 30, 2020 | $0.026 | OrdinaryDividend |
| Mar 31, 2020 | $0.001 | ReturnOfCapital |
| Mar 31, 2020 | $0.024 | OrdinaryDividend |
| Feb 28, 2020 | $0.001 | ReturnOfCapital |
| Feb 28, 2020 | $0.021 | OrdinaryDividend |
| Jan 31, 2020 | $0.001 | ReturnOfCapital |
| Jan 31, 2020 | $0.028 | OrdinaryDividend |
| Dec 31, 2019 | $0.040 | OrdinaryDividend |
| Nov 29, 2019 | $0.076 | OrdinaryDividend |
| Oct 31, 2019 | $0.032 | OrdinaryDividend |
| Sep 30, 2019 | $0.029 | OrdinaryDividend |
| Aug 30, 2019 | $0.029 | OrdinaryDividend |
| Jul 31, 2019 | $0.023 | OrdinaryDividend |
SCFOX - Fund Manager Analysis
Managers
Edwin Wilches
Start Date
Tenure
Tenure Rank
Jul 01, 2019
2.92
2.9%
Edwin Wilches, CFA, is a Principal and portfolio manager for PGIM Fixed Income's Structured Products Team. Mr. Wilches is responsible for managing and trading PGIM Fixed Income’s investments in CLO tranches, supporting the Dryden CLO platform's business development and investor relations efforts, and analysing off-the-run alternative fixed income opportunities. Prior to assuming his current responsibilities, Mr. Wilches was a member of PGIM Fixed Income’s CDO analyst team. Earlier, he was a member of PGIM Fixed Income's Business and Product Support Team, where he led the launch process for new institutional client accounts and the creation of investment products, including fund of funds. Mr. Wilches joined PGIM Fixed Income in 2003. He received a BA in Economics from Rutgers University and an MBA from New York University. He holds the Chartered Financial Analyst (CFA) designation.
Brian Juliano
Start Date
Tenure
Tenure Rank
Jul 01, 2019
2.92
2.9%
Brian Juliano is a Managing Director and co-Head of the U.S. Bank Loan Team for PGIM Fixed Income. He is also the co-Head of PGIM Fixed Income’s US CLO business and is a portfolio manager for the Firm's investments in CLO tranches. Before joining the Bank Loan Team in 2003, Mr. Juliano was a CDO analyst and member of the CDO Business Team for PGIM Fixed Income, as well as a manager in financial analysis in PGIM Fixed Income’s Finance Group, where he was responsible for the finance function of various investment subsidiaries. Mr. Juliano joined the Firm in 2000. Previously, he was a consultant at Deloitte & Touche, where he worked on investment strategy and tax compliance of high net worth individuals. Mr. Juliano received a BS in Finance and an MBA in Finance and Accounting from New York University.
Peter Freitag
Start Date
Tenure
Tenure Rank
Jul 01, 2019
2.92
2.9%
Peter Freitag, CFA, is a Principal and Structured Product Portfolio Manager on PGIM Fixed Income’s Structured Product Team. Since 2001, he has been responsible for non-agency mortgage and Asset Backed Securities (ABS) portfolio management and trading. Mr. Freitag joined the team in 1995. Prior to joining PGIM Fixed Income in 1994, he was a management consultant at Oliver, Wyman & Company. Mr. Freitag received a BS in Engineering with honors from Rensselaer Polytechnic Institute and an MS in Engineering from Princeton University. He holds the Chartered Financial Analyst (CFA) designation.
Jung-Chiang Chang
Start Date
Tenure
Tenure Rank
Jul 01, 2019
2.92
2.9%
Jung-Chiang Thomas Chang, CFA, FRM, is a Principal and Structured Product Portfolio Manager on PGIM Fixed Income’s Structured Product Team. Since 2006, he has been responsible for Commercial Mortgaged-Backed Securities (CMBS) portfolios across all mandates including Core Conservative, Core, Core Plus, Mutual Funds and the Firm’s proprietary accounts. Mr. Chang joined the team in 2004 following four years in PGIM Fixed Income’s Actuarial Leadership Development Program. Prior to joining PGIM Fixed Income in 2000, he was in the actuarial program of Guardian Life. Mr. Chang earned a BS in Management Science from National Chiao Tung University in Taiwan and a MS from Purdue University with concentration in Finance and Statistics. He holds the Chartered Financial Analyst (CFA) designation, the Financial Risk Manager (FRM) designation and is a former Fellow of the Society of Actuaries (FSA).
Gabriel Rivera
Start Date
Tenure
Tenure Rank
Sep 30, 2021
0.67
0.7%
Gabe Rivera is a Managing Director and Co-Head of PGIM Fixed Income’s Securitized Products Team. Mr. Rivera is a portfolio manager of dedicated securitized products portfolios and is also responsible for overseeing securitized product security selection across all of the firm's strategies. Additionally, Mr. Rivera is an active member of the Latinx Executive Leadership team at PGIM. Prior to joining the Firm in 2016, Mr. Rivera headed the Commercial Mortgage-Backed Securities (CMBS) trading desk at Barclays Capital where he oversaw trading in all conduit, single asset single borrower (SASB), and synthetics. Mr. Rivera began his career as an analyst within Blackrock's Mortgage Research Group focusing on the development and implementation of non-agency mortgage models and analytics. Later at Blackrock, he transitioned into the portfolio management group where he focused on non-agency RMBS investing. Mr. Rivera earned a BS in Electrical and Computer Engineering from Cornell University and a MS from Columbia University in Operations Research and Industrial Engineering.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
