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.
Morningstar’s Fund Analysis PJFAX
Will PJFAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PJFAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PJFAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PJFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.