1 Source: PGIM, Morningstar as of 3/31/2020. Represents 5-year rolling excess returns with a one-month step for the period beginning 7/1/2004. Methodology: Core and Core Plus groupings are comprised of the Morningstar Intermediate Core Bond and Intermediate Core-Plus Bond categories, respectively. Performance for groups and sub-groups uses the median manager. Only institutional share classes and ETFs were included in each grouping.
2 Source: Bloomberg as of 4/30/2020. References the period since the inception of the high yield index (7/1/1983) through 4/30/2020. High yield represented by BBG Barclays U.S. Corporate High Yield Index. Stocks represented by S&P500 Index.
3 Source: PGIM Fixed Income. Data as of 3/31/2020.
Class Z shares 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 and through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.
FOR FINANCIAL PROFESSIONAL USE ONLY.
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.
Mutual fund 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.
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