PGIM cuts fees on target-date funds
The TDF series will be renamed PGIM Target Date Funds, and some underlying investments will be changed.
PGIM, Prudential Financial’s investment management unit, said Tuesday that it’s lowering the fees on its target-date funds and collective investment trusts.
The target-date series, the Prudential Day One Funds, has been renamed the PGIM Target Date Funds, and the funds’ net expense ratio will be cut to 0.25% from 0.40%.
The expense ratio on the institutional share class of PGIM’s collective investment trusts will drop to 0.19% from 0.34%.
PGIM also announced that it will adjust the funds’ underlying investments by replacing some actively managed equity strategies with passively managed strategies. The glide path and investment objective of the target-date series won’t change, the fund company said.
[More: 2022 was rough year for near-retirees in target-date funds]
Looking for short ideas in a volatile market? Bearish ETF manager has a few
Learn more about reprints and licensing for this article.
