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Overall Morningstar Rating TM
Barron’s Best Fund Families 2024

Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset- weighted returns.

Objective

Seeks to provide a balance of income and long-term growth of capital by investing in domestic and international stocks, bonds, and money markets. It is actively managed to capitalize on what may be undervalued securities. The Fund provides investors with a fully diversified portfolio in a single investment. 

Growth of $10,000

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 chart represents historical performance and does not assume the effects of sales charges or varying fees and expenses of other share classes. If shown with sales charges or these other fees and expenses, performance could have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.

FUND INFORMATION
Style: Asset Allocation
Total Net Assets: $1.057 Billion
Dividends (Paid): Quarterly
Capital Gains (Paid): Annually
Fund Statistics
AS OF 12/31/2025
Name
Weight
Avg Weighted Market Cap ($) 190,965.60
P/E (Price/Earnings) Ratio 20.50
Standard Deviation (3 year) 9.08
Turnover Ratio (12-month %) 107.00
FI Average Maturity (years) 6.00
FI Duration (yrs) 5.90
*Holdings - Investment Grade (%) 79.20
*Holdings - Non Investment Grade (%) 9.60

Morningstar RatingS

AS OF 12/31/2025
Class A Shares
Overall (Out of 464 Funds)
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3-Year (Out of 464 Funds)
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5-Year (Out of 444 Funds)
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10-Year (Out of 370 Funds)
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Class C Shares
Overall (Out of 464 Funds)
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3-Year (Out of 464 Funds)
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5-Year (Out of 444 Funds)
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10-Year (Out of 370 Funds)
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Class R Shares
Overall (Out of 464 Funds)
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3-Year (Out of 464 Funds)
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5-Year (Out of 444 Funds)
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10-Year (Out of 370 Funds)
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Class R6 Shares
Overall (Out of 464 Funds)
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3-Year (Out of 464 Funds)
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5-Year (Out of 444 Funds)
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10-Year (Out of 370 Funds)
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Class Z Shares
Overall (Out of 464 Funds)
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3-Year (Out of 464 Funds)
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5-Year (Out of 444 Funds)
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10-Year (Out of 370 Funds)
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Source: Morningstar. The Morningstar Rating may be calculated based on its share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses its oldest class to determine its hypothetical rating for certain periods. The Fund’s Overall, 3-, 5-, and 10-year Star Ratings/Fund are, if applicable: 3/464.0, 4/464.0, 3/444.0 and 3/370.0, respectively. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Comparatively, exchange-traded funds and open-ended mutual funds are considered a single population. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistency, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating. 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 period

Barron's Information: 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.

PGIM Balanced Fund (Class Z) Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2024 for the Mixed-Asset Trgt Alloc Gro Funds category were: 169/448, 181/429, 280/396, and 195/327, respectively. 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. 

Class Z Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2025: 196/440, 143/426, 261/406, and 220/344, respectively. Past Performance is no guarantee of future results.

*Used with permission. © 2026 Dow Jones & Company, Inc. Source: Barron’s, Feb. 27, 2025. 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.

Risks of investing in the fund include but are not limited to the following: The Fund's blend investment style may subject the Fund to the risks of both value and growth investing. 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. 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 is subject to the risk that the design of the subadviser’s quantitative models may be flawed or incomplete, and the risk of error in the implementation of the models. Small company stocks present above-average risks in comparison to larger companies. 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. Foreign securities are subject to currency fluctuations and political uncertainty. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.

Total Returns (%)

as of
RETURNS:
SALES CHARGE:
TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE
Cumulative Average Annual
Class Ticker YTD 1-Yr 3-Yr 5-Yr 10-Yr Since Inception

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.

See Daily Returns for the PGIM Balanced Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Balanced Fund.

See Daily Returns for the PGIM Balanced Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Balanced Fund.

 

Fund Expenses
Maximum Sales Charge (%)
Class
Gross (%)
Net (%)
Date*
A 1.12 1.00 01/31/2027 3.25
C 1.88 1.82 01/31/2027 1.00
R 20.46 1.47 01/31/2027
R6 0.73 0.65 01/31/2027
Z 0.84 0.78 01/31/2027

*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 Moderate 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 moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%.

An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.

Prices

AS OF 02/12/2026
Class
NAV ($)
NAV Change ($)
NAV Change (%)
POP ($)
Total Net Assets ($)
A Gain +18.62 Loss -0.14 Loss -0.75 19.25 763,866,189.09
C Gain +18.77 Loss -0.15 Loss -0.79 42,277,839.93
R Gain +18.62 Loss -0.15 Loss -0.80 55,238.52
R6 Gain +18.84 Loss -0.15 Loss -0.79 137,457,301.89
Z Gain +18.83 Loss -0.15 Loss -0.79 126,306,129.25

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= Gain, Loss= Loss,  No Change = No Change.

See Prices of other PGIM Investments Mutual Funds.

52 Week High/Low

AS OF 02/12/2026
Class
52 Week High ($)
52 Week High Date
52 Week Low ($)
52 Week Low Date
A 19.77 12/11/2025 15.77 04/08/2025
C 19.90 12/11/2025 15.89 04/08/2025
R 19.76 12/11/2025 15.78 04/08/2025
R6 20.00 12/11/2025 15.95 04/08/2025
Z 19.99 12/11/2025 15.93 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.

Yields

AS OF 01/31/2026
Class SEC 30-Day Subsidized Yield (%) SEC 30-Day Unsubsidized Yield (%) Offer Distb. Yield (%) NAV Distb. Yield (%) SEC-30 Day Sub Taxable Equivalent Yield (%)
A - View Prospectus 1.78 1.68
C - View Prospectus 1.03 0.98
R - View Prospectus 1.37 -11.51
R6 - View Prospectus 2.19 2.12
Z - View Prospectus 2.06 2.01

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.

Portfolio Attributes

AS OF 12/31/2025
Top Sectors - Equities (% of Equity)
Top Sectors - Equities
% of Equity
Information Technology 30.2%
Financials 16.1%
Industrials 10.4%
Consumer Discretionary 9.7%
Healthcare 10.9%
Communication Services 9.1%
Consumer Staples 3.5%
Utilities 1.5%
Energy 3.3%
Materials 2.0%
Real Estate 1.6%
Other 1.8%
Top Sectors - Fixed Income (% of Fixed Income)
Top Sectors
% of Fixed Income
U.S. Govt Related 23.2%
Foreign Govt Related 0.2%
Bank Loans 0.4%
U.S Municipals 1.3%
Inv Grade Corp 24.6%
Emerging Markets 3.5%
Non Agency MBS 7.2%
Commercial MBS 11.1%
High Yield 10.1%
ABS 16.2%
Other 0.2%
Cash/Equiv 2.1%
Asset Class (% of Assets)
Large Cap Equities 45.5
Fixed Income 37.8
International Equities 11.9
Small Cap Equities 3.9
Cash/Equiv 1.0
Fund Statistics
AS OF 12/31/2025
Avg Weighted Market Cap ($) 190,965.60
P/E (Price/Earnings) Ratio 20.5
Standard Deviation (3 year) 9.08
Turnover Ratio (12-month %) 107
FI Average Maturity (years) 6.0
FI Duration (yrs) 5.9
*Holdings - Investment Grade (%) 79.20
*Holdings - Non Investment Grade (%) 9.60

*Fixed Income Fund Statistics.

The Fund's exposure to various markets is managed using futures contracts as well as security purchases. 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. Negative holdings reflect outstanding trades at period end.

Fund Holdings

AS OF 12/31/2025

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.

Mutual fund investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money. 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.

Shares of the funds are offered only to certain PGIM Investments funds.

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.

© 2026, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.

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.

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 Fixed Income is a unit of PGIM, Inc., 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. PGIM Quantitative Solutions is the primary business name of PGIM Quantitative Solutions LLC, a registered investment advisor. PGIM Real Estate is a unit of PGIM, Inc., a registered investment advisor. PGIM DC Solutions is a registered investment advisor. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. ©2026 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.

5044609 Ed. 12/2025

Security ID# (CUSIP/SEDOL) Security Description Ticker Symbol Coupon Rate Maturity Date Shares/Notional Value ($) % of Portfolio

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.

ABOUT

The asset allocation and equity portion of the PGIM Balanced Fund are managed by Joel Kallman, Edward Lithgow, Stacie L. Mintz, and Marco Aiofli, PhD. Each is a member of PGIM Quantitative Solutions. Since 1975, PGIM Quantitative Solutions has pioneered the use of advanced analytics to enhance the investment decision-making process. They combine discipline and seasoned judgment to create investment solutions tailored to their client objectives. PGIM Limited is also a subadvisor on this fund. 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. Robert Tipp, Richard Piccirillo, Gregory Peters, Matthew Angelucci and Tyler Thorn of PGIM Fixed Income are the portfolio managers for the fixed income segment of the Fund.

Joel M. Kallman, CFA
Joel M. Kallman, CFA

Vice President and Portfolio Manager for DC Solutions

Joel M. Kallman, CFA, is a Vice President and Portfolio Manager for DC Solutions.

Edward J. Lithgow, CFA
Edward J. Lithgow, CFA

Vice President and Portfolio Manager for PGIM Quantitative Solutions within the Quantitative Equity Team

Edward J. Lithgow, CFA, is a Vice President and Portfolio Manager for PGIM Quantitative Solutions working within the Quantitative Equity team.

Stacie L. Mintz, CFA
Stacie L. Mintz, CFA

Managing Director and Head of Quantitative Equity for PGIM Quantitative Solutions

Stacie L. Mintz, CFA, is a Managing Director and Head of Quantitative Equity for PGIM Quantitative Solutions.

Marco Aiolfi, PhD
Marco Aiolfi, PhD

Managing Director and Head of PGIM Quantitative Solutions’ Multi-Asset team

Multi-Asset and Quantitative Solutions

Marco Aiolfi, PhD, is a Managing Director and Head of PGIM Quantitative Solutions’ Multi-Asset team.

Robert Tipp, CFA
Robert Tipp, CFA

Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income

Public & Private Fixed Income

Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income.

Richard Piccirillo
Richard Piccirillo

Managing Director and Co-head on PGIM Fixed Income's Multi-Sector Team

Public & Private Fixed Income

Richard Piccirillo is a Managing Director and one of the co-heads on the Multi-Sector Team at PGIM Fixed Income.

Gregory Peters
Gregory Peters

Managing Director and Co-Chief Investment Officer of PGIM Fixed Income

Public & Private Fixed Income

Gregory Peters is a Managing Director and Co-Chief Investment Officer of PGIM Fixed Income.

Matthew Angelucci, CFA
Matthew Angelucci, CFA

Co-Senior Portfolio Manager, Global Bonds

Public & Private Fixed Income

Matthew Angelucci, CFA, is a Managing Director and senior portfolio manager on the Multi-Sector Team responsible for Global Bond Strategies.

Tyler Thorn
Tyler Thorn

Principal and Portfolio Manager for PGIM Fixed Income's Multi-Sector Team

Public & Private Fixed Income

Tyler Thorn is a Principal and a portfolio manager on the Multi-Sector Team at PGIM Fixed Income.

Average weighted market capitalization is the average market capitalization of stocks in a fund, each weighted by its proportion of assets. The P/E ratio (Source: Morningstar, Inc.) relates the price of a stock to the per-share earnings of the company. P/E is calculated using a harmonic weighted average, which excludes outliers that can easily skew results. Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Turnover Ratio is the rate of trading in a portfolio, higher values imply more frequent trading. 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. Holdings - Investment Grade (AAA to BBB range). Holdings - Non Investment Grade (BB and below range).  Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. Due to data availability, statistics may not be as of the current reporting period.

Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.

© 2026 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.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg neither approves nor endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results obtained therefrom and, to the maximum extend allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

Class R shares are closed to new investors. Class R6 and 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. Class Z shares may be available through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class A, C, and Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.

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.

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 is the primary business name of PGIM Quantitative Solutions LLC, a registered investment advisor. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. ©2026 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Quantitative 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.

4981756  Ed. 11/2025

Fund Literature

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document name audience updated order code
MRU Number : 4890704