Investment objective & strategy
As of Dec. 22, 2025 · prospectusObjective. The investment objective of the Fund is long-term growth of capital.
Strategy. The Fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of its investable assets (net assets plus any borrowings for investment purposes) in the equity and equity-related securities of companies located in or otherwise economically tied to emerging markets countries. The Fund defines emerging markets countries as countries that are classified by MSCI as either emerging or frontier markets. The Fund may invest in securities of issuers of any market capitalization size. The Fund may invest a large portion of its assets in a single country or region. The Fund may also invest in A-Shares using the Hong Kong Shanghai Stock Connect (Stock Connect) program and other similar programs. At times, the Fund may … The Fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of its investable assets (net assets plus any borrowings for investment purposes) in the equity and equity-related securities of companies located in or otherwise economically tied to emerging markets countries. The Fund defines emerging markets countries as countries that are classified by MSCI as either emerging or frontier markets. The Fund may invest in securities of issuers of any market capitalization size. The Fund may invest a large portion of its assets in a single country or region. The Fund may also invest in A-Shares using the Hong Kong Shanghai Stock Connect (Stock Connect) program and other similar programs. At times, the Fund may have a significant portion of its assets invested in the same economic sector. The Funds subadviser employs a growth investment style. As part of this growth investment style, the Fund seeks to invest in companies in the early stages of accelerating growth, with sustained competitive advantages, long-term structural growth drivers, attractive cash flow returns on invested capital, and management teams focused on creating long-term value for shareholders. The subadviser may consider selling or reducing a portfolio holding due to an unfavorable change in that portfolio holdings fundamentals, such as a weakening financial or competitive position, change in company strategy or business model, or a significant change in management or governance issues. The emergence of what is believed to be a more attractive portfolio candidate may also lead to eliminating or reducing the weight of a position in the Fund. A stock's price decline does not necessarily mean that the subadviser will sell the stock at that time.
Top holdings
As of Jan. 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $57.88M | 7.33% |
| Tencent Holdings Ltd. UNSP ADR EACH REP 1 ORD | TCEHY US | $49.45M | 6.27% |
| SAMSUNG ELECTRONICS CO LTD | — | $44.48M | 5.63% |
| ASPEED TECH | — | $43.10M | 5.46% |
| Empresa Brasileira de Aeronautica S.A. (ADR) | EMBJ | $32.16M | 4.07% |
| NAC KAZATOMPROM JSC GDR RGS | NATKY | $28.44M | 3.60% |
| BABA-W | — | $27.70M | 3.51% |
| SK HYNIX INC | — | $24.74M | 3.13% |
| HYUNDAI ELECTRIC | — | $24.45M | 3.10% |
| OTP BANK (REG) | OTP | $23.82M | 3.02% |
Portfolio moves
Oct 31, 2025 → Jan 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Columbia Variable Portfolio - Emerging Markets Fund | 35% | 1.09% |
| Columbia Emerging Markets Fund · EEMAX, EEMCX, UMEMX, CEKRX, CEKYX, UMEBX | 34% | 0.99% |
| Matthews Asia Growth Fund · MPACX, MIAPX | 34% | 1.12% |
Advisers
| Firm | Role |
|---|---|
| PGIM INVESTMENTS LLC | Adviser |
| Jennison Associates LLC | Sub-adviser |
Footnotes
- Expense ratio as of December 22, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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