PGIM Funds HonoredPGIMFundsHonored

PGIM Absolute Return Bond Fund #1 Absolute Return Bond Fund (Class R6) for the 3-year period out of 81 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 37 out of 82 funds; 5-year period: 14 out of 78 funds; 10-year period: 6 out of 61 funds as of 11/30/2024. Inception date: Class R6: 3/30/2011. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, 5- and 10-year periods as of 3/31/2025 for the Absolute Return Bond Fund category were: 43 out of 80, 1 out of 79, 1 out of 78, and 6 out of 64 funds, respectively. Past performance is no guarantee of future results.

PGIM Securitized Credit Fund #1 Alternative Credit Focus Fund (Class Z) for the 3-year period out of 77 funds, respectively ended 11/30/2024. Class Z total return ranking for the 1-year period: 37 out of 85 funds; 5-year period: 14 out of 78 funds as of 11/30/2024. Inception date: Class Z: 7/1/2019. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, and 5-year periods as of 3/31/2025 for the Alternative Credit Focus Fund category were: 24/85, 3/82, and 11/78, respectively. Past performance is no guarantee of future results.

PGIM Jennison Natural Resources Fund #1 Global Natural Resources Fund (Class R6) for the 10-year period out of 44 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 28 out of 60 funds; 3-year period: 22 out of 57 funds; 5-year period: 10 out of 54 funds as of 11/30/2024. Inception date: Class R6: 12/27/2010. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 3/31/2025 for the Global Natural Resources Fund category were: 50 out of 64, 25 out of 58, 12 out of 54, and 20 out of 49 funds, respectively. Past performance is no guarantee of future results.

PGIM Select Real Estate Fund #1 Global Real Estate Fund (Class R6) for the 10-year period out of 92 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 13 out of 152 funds; 3-year period: 11 out of 147 funds; 5-year period: 7 out of 139 funds as of 11/30/2024. Inception date: Class R6: 8/1/2014. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 3/31/2025 for the Global Real Estate Fund category were: 55 out of 142, 20 out of 139, 15 out of 134, and 1 out of 101 funds, respectively. Past performance is no guarantee of future results. ​

PGIM Jennison Health Sciences Fund #1 Health/Biotechnology Fund (Class R6) for the 3- and 5-year periods out of 90 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 33 out of 133 funds as of 11/30/2024. Inception date: Class R6: 1/27/2016. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper category. Lipper total return ranking for the 1-, 3-, and 5-year periods as of 3/31/2025 for the Health/Biotechnology Fund category were: 82 out of 129, 3 out of 126, and 1 out of 116 funds, respectively. Past performance is no guarantee of future results.

PGIM Real Estate Income Fund #1 Real Estate Fund (Class Z) for the 3-year period out of 184 funds, respectively ended 11/30/2024. Class Z total return ranking for the 1-year period: 11 out of 219 funds; 5-year period: 89 out of 201 funds as of 11/30/2024. Inception date: Class Z: 6/3/2015. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, and 5-year periods as of 3/31/2025 for the Real Estate Fund category were: 4/215, 4/210, and 29/198, respectively. Past performance is no guarantee of future results.

PGIM U.S. Real Estate Fund #1 Real Estate Fund (Class R6) for the 5-year period out of 176 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 13 out of 219 funds; 3-year period: 18 out of 212 funds as of 11/30/2024. Inception date: Class R6: 5/25/2017. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, and 5-year periods as of 3/31/2025 for the Real Estate Fund category were: 24 out of 215, 28 out of 210, and 16 out of 198 funds, respectively. Past performance is no guarantee of future results.

PGIM Real Assets Fund #1 Real Return Fund (Class R6) for the 3-year period out of 74 funds, respectively ended 11/30/2024. Class R6 total return ranking for the 1-year period: 16 out of 87 funds; 5-year period: 9 out of 76 funds as of 11/30/2024. Inception date: Class R6: 1/23/2015. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 3/31/2025 for the Real Return Fund category were: 6 out of 87, 34 out of 84, 33 out of 77, and 17 out of 52 funds, respectively. Past performance is no guarantee of future results.

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed. LSEG Lipper Fund Awards, © 2025 LSEG. All rights reserved. Used under license.​

Lipper category rankings are based on total return, do not include the effect of sales charges, and are calculated against all funds in each fund’s respective Lipper category as of 11/30/2024.​​

Barron’s: Used with permission. ©2025 Dow Jones & Company, Inc. Source: Barron’s, Feb. 27, 2025. PGIM Investments ranked 4 out of 48, 8 out of 47, 12 out of 46 firms for the 1-, 5- and 10-year periods ended 12/31/2024, respectively. Barron’s rankings are based on asset-weighted returns in funds in five categories: U.S. Equity; World Equity; Mixed Asset; Taxable Bond; and Tax-Exempt (each a “Barron’s ranking category”). Rankings also take into account an individual fund’s performance within its Lipper peer universe. Lipper calculated each fund’s net total return for the year ended Dec. 31, 2024, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking, with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer “universe,” as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2024 weighting of their Barron’s ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron’s ranking category. To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. Stock category; one in World Equity; and one Mixed Asset. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year.

To qualify for the ranking, firms must offer at least three active mutual funds or active ETFs in Lipper’s general U.S. Stock category; plus one in World Equity and one Mixed Asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. The ranking also includes “smart beta” ETFs, which are run passively but built on active investment strategies. The final list reflects each firm’s active-management ability.​

© Refinitiv Lipper 2025. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.​

Investing involves risk. Some investments 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. Your clients should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation.​​

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.​​

Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Quantitative Solutions LLC, Jennison Associates LLC, and PGIM, Inc. are registered investment advisors and Prudential Financial companies. PGIM Fixed Income and PGIM Real Estate are units of PGIM, Inc. and PGIM Quantitative Solutions LLC is a wholly-owned subsidiary of PGIM, Inc.

© 2025 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Fixed Income, PGIM Real Estate, PGIM Quantitative Solutions, PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

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. Clients seeking information regarding their particular investment needs should contact a financial professional.

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