David Chan, a veteran of subadvisor Jennison Associates and lead manager of PGIM Jennison Health Sciences since the fund's 1999 inception, will step down and retire from the firm at the end of June 2022. Given the depth and experience of Jennison's healthcare team, Chan's departure is not detrimental to the strategy. It remains under the watch of industry veterans Debra Netschert and Daniel Matviyenko, who have comanaged the strategy since 2015 and 2020, respectively. With some continuity in the management ranks and no anticipated changes to the well-established approach, the strategy's Morningstar Analyst Ratings are unchanged.
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