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PGIM Jennison Growth A PJFAX Fund Analysis

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Morningstar’s Fund Analysis PJFAX

Will PJFAX outperform in future?

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PGIM Jennison Growth’s Volatility Is a Feature Not a Bug

Analyst Note

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High-growth stocks, especially those within PGIM Jennison Growth’s bailiwick, have seen their share prices come under pressure in early 2022. For the year to date through March 14, 2022, the U.S. mutual fund’s Z shares fell 25.5%, which was 5.5 and 6.3 percentage points worse than the typical large-growth Morningstar Category rival and Russell 1000 Growth Index, respectively. Former market darling and top-10 holding Shopify SHOP, whose shares are down a staggering 62.8%, has detracted the most from returns during the two-and-a-half-month period. Such a sharp decline is uncomfortable but not necessarily surprising given this strategy’s long-standing, bold approach. It is behaving as expected, and its share classes retain their Morningstar Analyst Ratings, which range from Gold to Bronze, depending on vehicle and fees.

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