1 - Prudential Financial, Inc. is the 10th-largest investment manager (out of 527) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on 06/01/2020. This ranking represents assets managed by Prudential Financial as of 3/31/2020
For Compliance Use Only
1013445-00003-00 Ed. 4/21
Star ratings are shown for Class Z shares, which may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap, and asset allocation programs. They may also be available to institutional investors. Performance by share class may vary. In addition to the ones shown above, other classes, which contain either a sales load or a contingent deferred sales charge, are also available. These expenses will generally lower total fund return. Please see the prospectus for additional information about fees, expenses and investor eligibility requirements.
The risks associated with investing in these funds include but are not limited to: derivative securities, which may carry market, credit, and liquidity risks; short sales, which involve costs and the risk of potentially unlimited losses; leveraging, which may magnify losses; high yield (“junk”) bonds, which are subject to greater market risks; small/mid cap stocks which may be subject to more erratic market movements than large cap stocks; foreign securities, which are subject to currency fluctuation and political uncertainty; real estate, which poses certain risks related to overall and specific economic conditions as well as risks related to individual property, credit and interest-rate fluctuations; and mortgage-backed securities, which are subject to prepayment and extension risks. Sector funds and Specialty funds may not be suitable for all investors. Such funds are non-diversified, so a loss resulting from a particular security will have greater impact on the Fund's return. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise. The risks associated with each fund are explained more fully in each fund's respective prospectus. There is no guarantee a fund's objectives will be achieved.
A target date fund should not be selected based solely on age or retirement date, is not a guaranteed investment and the stated asset allocation may be subject to change.
The target date is the approximate date when investors plan to retire and may begin withdrawing their money. The asset allocation of the target date funds will become more conservative as the target date approaches and for ten years after the target date by lessening the equity exposure and increasing the exposure in fixed income investments. The principal value of an investment in a target date fund is not guaranteed at any time, including the target date. There is no guarantee that the fund will provide adequate retirement income. A target date fund should not be selected based solely on age or retirement date. Participants should carefully consider the investment objectives, risks, charges and expenses of any Fund before investing. Funds are not guaranteed investments and the stated asset allocation may be subject to change. It is possible to lose money by investing in securities, including losses near and following retirement.
Some Morningstar Ratings may not be customarily based on adjusted historical returns. If so, an investment's independent Morningstar Rating metric is compared against the retail mutual fund universe breakpoints to determine its hypothetical rating for certain time periods. The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
For the overall, 3-, 5- and 10-year periods, respectively, as of 10/31/2021: PGIM Total Return Bond was rated 4 stars out of 570 funds, 3 stars out of 570 funds, 4 stars out of 496 funds, and 4 stars out of 354 funds, respectively; PGIM Short-Term Corporate Bond was rated 4 stars out of 549 funds, 4 stars out of 549 funds, 4 stars out of 482 funds, and 4 stars out of 316 funds, respectively; PGIM High Yield was rated 5 stars out of 631 funds, 4 stars out of 631 funds, 5 stars out of 553 funds, and 5 stars out of 367 funds, respectively; PGIM Global Total Return was rated 5 stars out of 186 funds, 5 stars out of 186 funds, 5 stars out of 161 funds, and 5 stars out of 124 funds, respectively; PGIM Short Duration High Yield Income was rated 3 stars out of 631 funds, 3 stars out of 631 funds, 3 stars out of 553 funds respectively; PGIM Short Duration Multi-Sector Bond was rated 4 stars out of 549 funds, 4 stars out of 549 funds, 4 stars out of 482 funds respectively; PGIM Strategic Bond was rated 4 stars out of 273 funds, 3 stars out of 273 funds, 5 stars out of 237 funds respectively; PGIM Jennison Growth was rated 4 stars out of 1137 funds, 4 stars out of 1137 funds, 4 stars out of 1032 funds, and 4 stars out of 763 funds, respectively; PGIM Jennison Focused Growth was rated 4 stars out of 1137 funds, 4 stars out of 1137 funds, 4 stars out of 1032 funds, and 4 stars out of 763 funds, respectively; PGIM Jennison Global Opportunities was rated 5 stars out of 307 funds, 5 stars out of 307 funds, 5 stars out of 262 funds respectively; PGIM Balanced was rated 3 stars out of 669 funds, 2 stars out of 669 funds, 3 stars out of 601 funds, and 3 stars out of 431 funds, respectively; PGIM Global Real Estate was rated 4 stars out of 198 funds, 4 stars out of 198 funds, 4 stars out of 174 funds, and 4 stars out of 109 funds, respectively; PGIM Select Real Estate was rated 5 stars out of 198 funds, 5 stars out of 198 funds, 5 stars out of 174 funds respectively.
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Important Mutual Fund Information:
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and the summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and the summary prospectus. Read them carefully before investing.
An investment in our money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your clients investment at $1.00 per share, it is possible to lose money by investing in the funds.
Mutual fund and ETF investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and investor's shares when sold may be worth more or less than the original cost. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise. Asset allocation and diversification do not assure a profit or protect against loss in declining markets. There is no guarantee a Fund's objectives will be achieved. The risks associated with each fund are explained more fully in each fund's respective prospectus. Consult with your attorney, accountant, and/or tax professional for advice concerning your particular situation.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.
Investment products are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, member SIPC. Separately Managed Accounts are offered through our affiliates.
Important Closed-End Fund Information:
A closed-end fund's investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost, and you could lose all or a portion of your investment. The use of leverage as an investing strategy can magnify losses and increase fees paid by the Fund. Shares of the Fund may trade on the exchange at a discount to their net asset value. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise.
An investment in the Fund's shares of common stock may be speculative in that it involves a high degree of risk and should not constitute a complete investment program. Each closed-end fund will have its own unique investment strategy, risks, charges and expenses that need to be considered before investing.
Jennison Associates and PGIM, Inc. (PGIM) are registered investment advisors and Prudential Financial companies. PGIM Quantitative Solutions is the primary business name of PGIM Quantitative Solutions LLC, a wholly owned subsidiary of PGIM. PGIM Fixed Income and PGIM Real Estate are units of PGIM. © 2021 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Real Estate, PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
Investment Products: Are not insured by the FDIC or any other federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.