PGIM Jennison International Opportunities Fund Q1 2026 Commentary
PGIM Investments·2026-06-12·via All Articles on Seeking Alpha
Summary
The PGIM Jennison International Opportunities Fund returned -8.8% during the first quarter, underperforming the -0.7% return of the index.
Underperformance was driven primarily by Jennison’s positions in Consumer Discretionary, Technology, Industrials, and Health Care.
Despite a difficult quarter, the Fund's underlying fundamentals remain strong. Many of the companies owned continue to deliver solid revenue and earnings growth, healthy margins, and durable competitive advantages.
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Market Review
The first quarter of 2026 was challenging for international growth equities. Geopolitical uncertainty rose sharply, and the war with Iran contributed to a spike in oil prices and a broader rotation toward lower-valuation, more defensive
