Fund Evaluator:

PGIM Jennison International Opps R2 Overview

PGIM Jennison International Opps R2 (PWJBX) is an actively managed International Equity Foreign Large Growth fund. PGIM launched the fund in 2018.

The investment seeks long-term growth of capital. The fund invests a majority of its net assets in equity and equity-related securities of non-U.S. companies located in various countries outside the U.S., including non-U.S. issuers located in emerging markets. It can invest without limit in foreign securities, typically invests in a number of different countries, and may invest a significant portion of its assets in companies located in emerging markets. The fund may invest in American Depositary Receipts ("ADRs"), American Depositary Shares ("ADSs") and similar securities.

About PGIM Jennison International Opps R2 (PWJBX)

There are 2 members of the management team with an average tenure of 14.16 years: Thomas Davis (2012), Mark Baribeau (2012). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI ACWI Ex USA NR USD index with a weighting of 100%. PGIM Jennison International Opps R2 has 48 securities in its portfolio. The top 10 holdings constitute 50.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

PGIM Jennison International Opps R2 is part of the Equity global asset class and is within the International Equity fund group. PGIM Jennison International Opps R2 has 96.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.1%. There is 96.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PGIM Jennison International Opps R2 has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $722 million in total assets, which is below the $1 billion average for the Foreign Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PWJBX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PGIM Jennison International Opps R2 expense ratio is high compared to funds in the Foreign Large Growth category. PGIM Jennison International Opps R2 has an expense ratio of 1.34%, which is 30% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. PGIM Jennison International Opps R2 has a portfolio turnover rate of 81%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Foreign Large Growth category.

Recently, in the month of July 2026, PGIM Jennison International Opps R2 returned -12.5%, which earned it a grade of F, as the Foreign Large Growth category had an average return of -2.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

PGIM Jennison International Opps R2 has a trailing yield of 0.00%, which is below the 0.95% category average. The fund normally distributes its income annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

PGIM Jennison International Opps R2 Grades

Year to date, the fund has returned 2.5%, 4.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.5% over the past year (grade of F), 8.2% over the past three years (grade of D) and -1.5% per year over the past five years (grade of F) and 10.4% per year over the past 10 years (grade of A).

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