The Fund seeks a balance between growth and conservation of capital. The Fund seeks to achieve its investment objective by investing primarily in mutual funds and exchange-traded funds ("ETFs") that invest in a portfolio of fixed income and equity securities and non-traditional asset classes. The PGIM Retirement Spending Funds aim to accommodate individual spending goals according to different risk profiles. The PGIM Conservative Retirement Spending Fund may be appropriate for investors who are near or in retirement who are looking to address essential spending in retirement.
Name
|
Weight
|
---|---|
Average Duration | 4.30 |
Average Yield to Maturity | 4.20 |
Risks of investing in the fund include but are not limited to the following: Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. As a “fund of funds”, the fund is subject to the performance and risks of the underlying funds and their investments. Small- and mid-cap investments may be subject to more erratic market movements than large-cap stocks. Mortgage-backed and asset-backed securities tend to increase in value less than other debt securities when interest rates decline, but are subject to a similar risk of decline in market value during periods of rising interest rates. Investing in real estate poses certain risks related to overall and specific economic conditions as well as risks related to individual property, credit and interest rate fluctuations. Asset allocations to underperforming or volatile asset classes or other changes in asset allocations could lead to increased volatility in the Fund’s portfolio. The Fund's manager serves as the manager of the underlying affiliated funds, and a conflict of interest could affect how the manager and subadvisors fulfill their fiduciary duties to the Fund and the underlying funds. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE | |||||||
---|---|---|---|---|---|---|---|
Cumulative | Average Annual | ||||||
Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
See Daily Returns for the PGIM Conservative Retirement Spending Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Conservative Retirement Spending Fund.
See Daily Returns for the PGIM Conservative Retirement Spending Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Conservative Retirement Spending Fund.
Fund Expenses
|
Maximum Sales Charge (%)
|
|||
---|---|---|---|---|
Class
|
Gross (%)
|
Net (%)
|
Date*
|
|
R6 | 3.54 | 0.35 | — | — |
*This date represents the contractual reduction date through which the net expense ratio is in effect.
Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Morningstar Category Average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Morningstar Category Average and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on R6 inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.
Morningstar Moderately Conservative Allocation Category Average: Funds in allocation categories seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%.
The S&P Target Risk Conservative Index is designed to measure the performance of conservative stock-bond allocations to fixed income, seeking to produce a current income stream and avoid the excessive volatility of returns. Equities are included to protect the long-term purchasing power.
The S&P Indices are products of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by PGIM Investments. Copyright ©2025 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC.
An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.
Class
|
NAV ($)
|
NAV Change ($)
|
NAV Change (%)
|
POP ($)
|
Total Net Assets ($)
|
---|---|---|---|---|---|
R6 | 10.72 |
![]() |
0.09 | — | 5,371,336.82 |
NAV (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges. Change shows the change in $U.S. value over the previous day:= Gain,
= Loss,
= No Change.
See Prices of other PGIM Investments Mutual Funds.
Class
|
52 Week High ($)
|
52 Week High Date
|
52 Week Low ($)
|
52 Week Low Date
|
---|---|---|---|---|
R6 | 10.72 | 08/07/2025 | 9.88 | 04/08/2025 |
For share classes less than one year old, the 52-week high and 52-week low NAVs are calculated from inception to the current date.
Class | SEC 30-Day Subsidized Yield (%) | SEC 30-Day Unsubsidized Yield (%) | Offer Distb. Yield (%) | NAV Distb. Yield (%) | SEC-30 Day Sub Taxable Equivalent Yield (%) |
---|---|---|---|---|---|
R6 - View Prospectus | 3.38 | 0.59 | — | 2.03 | — |
See Yields of other PGIM Investments Mutual Funds.
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
This material must be preceded or accompanied by a current prospectus or summary prospectus. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Allocations
|
% of Assets
|
---|---|
U.S. Stock Strategies | 16.4% |
PGIM Quant Solutions Large-Cap Index Fund | 14.4% |
PGIM Quant Solutions Mid-Cap Index Fund | 2.0% |
Non-U.S. Stock Strategies | 4.0% |
PGIM Quant Solutions International Developed Markets Index Fund | 4.0% |
Fixed Income Strategies | 59.6% |
PGIM Core Conservative Bond Fund | 25.8% |
PGIM TIPS Fund | 14.8% |
PGIM Core Ultra Short Bond Fund | 13.5% |
Vanguard Long-Term Bond ETF | 3.5% |
PGIM Active High Yield Bond ETF | 2.0% |
Alternatives | 19.9% |
PGIM Jennison Global Infrastructure Fund | 8.8% |
PGIM US Real Estate Fund | 8.6% |
PGIM Quant Solutions Commodity Strategies Fund | 2.5% |
GEOGRAPHIC STOCK EXPOSURE
|
% of Equity
|
---|---|
Developed Markets | 98.9% |
United States | 71.1% |
Europe Developed | 20.2% |
Japan | 3.7% |
Other Developed | 3.9% |
Emerging Markets | 1.1% |
Latin America | 0.0% |
Europe Emerging | 0.0% |
Asia/Pacific Basin (ex Japan) | 0.0% |
Other Emerging | 1.1% |
FIXED INCOME CREDIT QUALITY ALLOCATION
|
% OF FIXED INCOME ASSETS
|
---|---|
Investment Grade | 97.0% |
AAA | 41.4% |
AA | 20.3% |
A | 5.7% |
BBB | 7.4% |
Other High Grade | 0.3% |
Cash/Equiv | 21.8% |
Below Investment Grade | 3.0% |
BB | 1.6% |
B | 0.8% |
CCC & Below | 0.5% |
Not Rated | 0.0% |
Not Rated | 0.0% |
Average Duration | 4.30 |
Average Yield to Maturity | 4.20 |
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Largest holdings excludes cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding.
Holdings are unaudited, may vary and are subject to change. Please refer to the Fund's annual report for audited holdings information. This is not a recommendation to buy or sell any security listed.
Value ($): Cash securities are calculated using market value and derivative securities are calculated using notional value.
Source: Bank of New York Mellon. Holdings are provided to Prudential Financial by the custodian bank and Prudential Financial is not responsible for any errors or omissions related to the holdings data.
© 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.
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. Jennison Associates is a registered investment advisor. PGIM Quantitative Solutions is the primary business name of PGIM Quantitative Solutions LLC, a registered investment advisor. PGIM Fixed Income and PGIM Real Estate are units of PGIM, a registered investment advisor. PGIM DC Solutions is a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, PGIM Fixed Income, PGIM Limited, PGIM Quantitative Solutions, PGIM Real Estate, PGIM DC Solutions 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 their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
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.
4072323 Ed. 12/2024
Security ID# (CUSIP/SEDOL)
|
Security Description
|
Ticker Symbol
|
Coupon Rate
|
Maturity Date
|
Shares/Notional
|
Value ($)
|
% of Portfolio
|
---|---|---|---|---|---|---|---|
74440E888 | PGIM Core Conserv Bnd-q | PQCNX | 35.7 | 12/01/2099 | 159,695.00 | 1,379,765.00 | 25.81 |
74440E870 | PGIM Tips Fund-q | PQTSX | 47.6 | 12/01/2099 | 94,118.00 | 791,534.00 | 14.81 |
74441F702 | PGIM Quant Solutions Large-cap Index Fun | PQSIX | — | — | 16,472.00 | 769,740.00 | 14.40 |
74440E201 | PGIM Core Ultra Short Bond Fund | — | 4.53 | 12/01/2099 | 735,765.00 | 735,765.00 | 13.76 |
743969560 | PGIM Jennison Global Infrastructure Fund | PGJQX | — | — | 25,910.00 | 469,749.00 | 8.79 |
744336751 | PGIM Us Real Estate Fund | PJEQX | — | — | 29,691.00 | 458,421.00 | 8.58 |
74440E607 | PGIM Quant Solutions International Devel | PQDMX | — | — | 13,512.00 | 215,112.00 | 4.02 |
921937793 | Vanguard Long-term Bond Etf | BLV | — | — | 2,702.00 | 187,897.00 | 3.51 |
74440E862 | PGIM Quant Solutions Commodity Strategie | PQCMX | — | — | 19,354.00 | 133,155.00 | 2.49 |
74440E508 | PGIM Quant Solutions Mid-cap Index Fund | PQCCX | — | — | 11,373.00 | 108,041.00 | 2.02 |
69344A206 | PGIM Active High Yield Bond Etf | PHYL | — | — | 2,994.00 | 106,257.00 | 1.99 |
CURRENCY | Currency | — | — | — | -9,594.00 | -9,594.00 | -0.18 |
The CUSIP information contained in pgimfunds.com and/or prudential.com consists of security identifiers and related descriptive information (“the CUSIP Database”) and is protected under the copyright laws and is licensed with permission from CUSIP Global Services (“CGS”), on behalf of the American Bankers Association (“ABA”).
VISITOR agrees and acknowledges that the CUSIP Database and the information contained therein is and shall remain valuable intellectual property owned by, or licensed to, CGS and ABA, and that no proprietary rights are being transferred to VISITOR in such materials or in any of the information contained therein by virtue of VISITOR’s use of Subscriber’s Web Site. Any use of the CUSIP Database by VISITOR outside of the clearing and settlement of transactions may require a license from CGS, along with an associated fee based on usage.
VISITOR agrees that misappropriation or misuse of such materials will cause serious damage to CGS and ABA, and that in such event, money damages may not constitute sufficient compensation to CGS and ABA; consequently, VISITOR agrees that in the event of any misappropriation or misuse, CGS and ABA shall have the right to obtain injunctive relief in addition to any other legal or financial remedies to which CGS and ABA may be entitled.
VISITOR agrees that VISITOR shall not publish or distribute in any medium the CUSIP Database or any substantial portion of the information contained therein or summaries or subsets thereof to any person or entity unless permitted by a direct agreement with CGS. VISITOR may not create or maintain a master file or database of CUSIP identifiers or descriptions for itself or any third party recipient that is intended to serve as a substitute for any CUSIP service.
VISITOR agrees not to:
(a) Violate the restrictions in any robot inclusion headers on the Subscriber Web Site or in any way bypass or circumvent any other measure employed to limit or prevent access to the CUSIP Database on the Subscriber Web Site;
(b) Violate the security of the Subscriber Web Site or attempt to gain unauthorized access to the Web Site, CUSIP Database, materials, information, computer systems or networks connected to Subscriber server, through hacking, password mining or any other means; or
(c) Interfere or attempt to interfere with the proper working of the Subscriber Web Site or any activities conducted on or through the Subscriber Web Site, including accessing any CUSIP Database, content or other information prior to the time that is intended to be available to the public on the Subscriber Web Site;
NEITHER CGS, ABA NOR ANY OF THEIR AFFILIATES MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF ANY OF THE INFORMATION CONTAINED IN THE CUSIP DATABASE. ALL SUCH MATERIALS ARE PROVIDED TO VISITOR ON AN “AS IS” BASIS, WITHOUT ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE NOR WITH RESPECT TO THE RESULTS WHICH MAY BE OBTAINED FROM THE USE OF SUCH MATERIALS. NEITHER CGS, ABA NOR THEIR AFFILIATES SHALL HAVE ANY RESPONSIBILITY OR LIABILITY FOR ANY ERRORS OR OMISSIONS NOR SHALL THEY BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF CGS, ABA OR ANY OF THEIR AFFILIATES PURSUANT TO ANY CAUSE OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE, EXCEED THE FEE PAID BY VISITOR FOR ACCESS TO SUCH MATERIALS IN THE MONTH IN WHICH SUCH CAUSE OF ACTION IS ALLEGED TO HAVE ARISEN. FURTHERMORE, CGS AND ABA SHALL HAVE NO RESPONSIBILITY OR LIABILITY FOR DELAYS OR FAILURES DUE TO CIRCUMSTANCES BEYOND THEIR CONTROL.
VISITOR agrees that the foregoing terms and conditions shall survive any termination of its right of access to the materials identified above.
The PGIM Conservative Retirement Spending Fund is co-managed by Jeremy Stempien, David Blanchett, PHD, CFA, CFP, and Joel Kallman, CFA, each of whom is a member of PGIM DC Solutions.
Vice President and Portfolio Manager for DC Solutions
|PGIM DC Solutions
Joel M. Kallman, CFA, is a Vice President and Portfolio Manager for DC Solutions.
Managing Director, Portfolio Manager and Strategist for PGIM DC Solutions
|PGIM DC Solutions
Jeremy Stempien is a Managing Director, Portfolio Manager and Strategist for PGIM DC Solutions.
Managing Director, Portfolio Manager and Head of Retirement Research for PGIM DC Solutions
|PGIM
David Blanchett, PhD, CFA, CFP®, is a Managing Director, Portfolio Manager and Head of Retirement Research for PGIM DC Solutions.
Average Maturity is the average time to maturity for a bond. Duration measures investment risk that takes into account both a bond’s interest payments and its value to maturity.
Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.
© 2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.
Class R6 shares may be available to group retirement plans, institutional investors, and individuals through certain retirement, mutual fund wrap and asset allocation programs. Please see the prospectus for additional information about fees, expenses, and investor eligibility.
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 DC Solutions is a registered investment advisor. Registration with the SEC does not imply a certain level of skill or training. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM DC Solutions, 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 their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
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.
4364858 Ed. 04/2025
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