Morningstar Silver Logo
Class A, R4, R6 and Z
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 long-term growth of capital by investing primarily in larger-cap stocks believed to have sustainable, above-market growth in revenues, earnings, and cash flows. The Fund may be appropriate for those seeking a diversified way to participate in the stock market's growth potential. 

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: Large Growth
Total Net Assets: $8.753 Billion
Dividends (Paid): Annually
Dividends (Accrued):
Capital Gains: Annually
Fund StatisticS
AS OF 06/30/2025
Name
Weight
Avg Weighted Market Cap ($mil) 572,378.77
Beta (3 year) 1.08
Standard Deviation (3 year) 20.51
Turnover Ratio (12-month %) 37.00

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 Jennison Growth Fund (Class Z) Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2024 for the Large-Cap Growth Funds category were: 326/671, 348/628, 118/594, and 55/470, 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 6/30/2025: 241/696, 67/654, 313/619, and 71/492, respectively. Past Performance is no guarantee of future results.

*Used with permission. © 2025 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.

The Morningstar Medalist RatingTM is the summary expression of Morningstar’s forward-looking investment strategies analysis offered via specific vehicles on a Gold, Silver, Bronze, Neutral, and Negative scale. These ratings indicate the investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investments are evaluated on 3 pillars (People, Parent, and Process) which, when coupled with a fee assessment, form the basis for Morningstar’s conviction in those product’s investment merits and determine the assigned rating. Pillar ratings are Low, Below Average, Average, Above Average, and High, and are evaluated qualitatively (either directly to a covered vehicle or indirectly when a covered vehicle’s ratings are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by expected performance into rating groups defined by their Morningstar Category and active or passive status. Analysts who directly cover a vehicle assign the 3 pillar ratings based on their qualitative assessment, subject to Analyst Rating Committee oversight, and monitor and reevaluate them at least every 14 months. Vehicle ratings are assigned monthly when covered either indirectly by analysts or by algorithm. For more information, please visit www.global.morningstar.com/managerdisclosures/. Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to issues like unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment. Changes in underlying factors can mean the rating is subsequently no longer accurate. ‡Source: Morningstar.

Risks of investing in the fund include but are not limited to the following: Growth style investing may subject the Fund to above-average fluctuations as a result of seeking higher than average capital growth. 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. Small- and Mid-cap investments may be subject to more erratic market movements than large-cap stocks. Foreign securities are subject to currency fluctuations and political uncertainty. 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 Jennison Growth Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Jennison Growth Fund.

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

Fund Expenses
Maximum Sales Charge (%)
Class
Gross (%)
Net (%)
Date*
A 0.97 0.97 5.50
C 1.68 1.68 1.00
R 1.45 1.20 01/31/2026
R2 1.40 1.10 01/31/2026
R4 0.86 0.85 01/31/2026
R6 0.58 0.58
Z 0.69 0.69

*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 Class Z 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 Large Growth Category Average: Large-growth portfolios invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). Most of these portfolios focus on companies in rapidly expanding industries.

Russell 1000® Growth Index is unmanaged and contains those securities in the Russell 1000 Index with a greater-than-average growth orientation. Companies in this index tend to exhibit higher price-to-book and price-to-earnings ratios.

The index and Russell are trademarks of the Frank Russell Company. Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. Russell® is a trade mark of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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

Prices

AS OF 08/08/2025
Class
NAV ($)
NAV Change ($)
NAV Change (%)
POP ($)
Total Net Assets ($)
A 65.13 Gain 0.15 0.23 68.92 2,110,474,073.03
C 39.37 Gain 0.09 0.23 116,843,633.29
R 49.95 Gain 0.12 0.24 250,126,014.99
R2 73.04 Gain 0.18 0.25 8,181,450.85
R4 74.97 Gain 0.19 0.25 22,401,000.48
R6 76.87 Gain 0.19 0.25 1,823,590,441.38
Z 76.07 Gain 0.19 0.25 4,461,154,210.03

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 08/08/2025
Class
52 Week High ($)
52 Week High Date
52 Week Low ($)
52 Week Low Date
A 68.72 12/04/2024 48.04 04/08/2025
C 44.60 12/04/2024 29.11 04/08/2025
R 54.47 12/04/2024 36.87 04/08/2025
R2 76.24 12/04/2024 53.89 04/08/2025
R4 77.94 12/04/2024 55.26 04/08/2025
R6 79.60 12/04/2024 56.62 04/08/2025
Z 78.90 12/04/2024 56.05 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.

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

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.

Fund Holdings

AS OF 06/30/2025

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.

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.

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. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, 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
67066G104 Nvidia Corp NVDA 5,405,140.00 853,958,068.00 9.75
023135106 Amazon.com Inc AMZN 2,994,876.00 657,045,845.00 7.50
594918104 Microsoft Corp MSFT 1,155,787.00 574,900,011.00 6.57
30303M102 META Platforms Inc META 706,330.00 521,335,109.00 5.95
64110L106 Netflix Inc NFLX 328,881.00 440,414,413.00 5.03
11135F101 Broadcom Inc AVGO 1,573,748.00 433,803,636.00 4.95
037833100 Apple Inc AAPL 1,866,422.00 382,933,801.00 4.37
532457108 ELI Lilly & Co LLY 328,952.00 256,427,952.00 2.93
57636Q104 Mastercard Inc MA 431,988.00 242,751,336.00 2.77
097023105 Boeing Co/the BA 920,948.00 192,966,234.00 2.20
92532F100 Vertex Pharmaceuticals Inc VRTX 408,667.00 181,938,548.00 2.08
22160K105 Costco Wholesale Corp COST 179,706.00 177,898,157.00 2.03
254687106 WALT Disney Co/the DIS 1,421,332.00 176,259,381.00 2.01
88160R101 Tesla Inc TSLA 550,190.00 174,773,355.00 2.00
92826C839 VISA Inc V 467,022.00 165,816,161.00 1.89
931142103 Walmart Inc WMT 1,639,780.00 160,337,688.00 1.83
22788C105 Crowdstrike Holdings Inc CRWD 307,428.00 156,576,154.00 1.79
127387108 Cadence Design Systems Inc CDNS 502,524.00 154,852,770.00 1.77
02079K107 Alphabet Inc GOOG 798,530.00 141,651,236.00 1.62
02079K305 Alphabet Inc GOOGL 804,120.00 141,710,067.00 1.62
81762P102 Servicenow Inc NOW 129,462.00 133,097,292.00 1.52
21037T109 Constellation Energy Corp CEG 394,424.00 127,304,290.00 1.45
874039100 Taiwan Semiconductor Manufacturing Co Lt TSM 550,606.00 124,706,752.00 1.42
369604301 General Electric Co GE 450,687.00 116,002,326.00 1.32
BFZ1K46 Spotify Technology Sa SPOT 145,701.00 111,802,205.00 1.28
46120E602 Intuitive Surgical Inc ISRG 201,096.00 109,277,577.00 1.25
90353T100 UBER Technologies Inc UBER 1,135,768.00 105,967,154.00 1.21
43300A203 Hilton Worldwide Holdings Inc HLT 392,465.00 104,529,128.00 1.19
58733R102 Mercadolibre Inc MELI 39,471.00 103,162,589.00 1.18
833445109 Snowflake Inc SNOW 412,176.00 92,232,623.00 1.05
67103H107 O'reilly Automotive Inc ORLY 1,022,866.00 92,190,912.00 1.05
670100205 NOVO Nordisk A/s NVO 1,304,601.00 90,043,561.00 1.03
882508104 Texas Instruments Inc TXN 414,749.00 86,110,187.00 0.98
872540109 TJX Cos Inc/the TJX 658,965.00 81,375,587.00 0.93
28176E108 Edwards Lifesciences Corp EW 975,791.00 76,316,614.00 0.87
743315103 Progressive Corp/the PGR 275,793.00 73,598,119.00 0.84
252131107 Dexcom Inc DXCM 812,321.00 70,907,500.00 0.81
88339J105 Trade Desk Inc/the TTD 939,955.00 67,667,360.00 0.77
74440W862 (pipa070) Pgim Core Government Money Mar 4.42 12/01/2099 66,930,936.00 66,930,936.00 0.76
4031976 Adidas Ag ADS 267,649.00 62,477,285.00 0.71
654106103 NIKE Inc NKE 848,431.00 60,272,538.00 0.69
615369105 Moody's Corp MCO 106,594.00 53,466,484.00 0.61
38141G104 Goldman Sachs Group Inc/the GS 68,988.00 48,826,257.00 0.56
23804L103 Datadog Inc DDOG 363,109.00 48,776,431.00 0.56
05464C101 AXON Enterprise Inc AXON 58,488.00 48,424,554.00 0.55
82509L107 Shopify Inc SHOP 389,869.00 44,971,389.00 0.51
03831W108 Applovin Corp APP 124,906.00 43,727,092.00 0.50
009066101 Airbnb Inc ABNB 323,958.00 42,872,601.00 0.49
BP9DL90 Industria De Diseno Textil Sa ITX 824,984.00 43,036,736.00 0.49
046353108 Astrazeneca Plc AZN 589,903.00 41,222,421.00 0.47
50212V100 LPL Financial Holdings Inc LPLA 109,987.00 41,241,825.00 0.47
443573100 Hubspot Inc HUBS 67,238.00 37,426,687.00 0.43
79466L302 Salesforce Inc CRM 127,569.00 34,786,790.00 0.40
855244109 Starbucks Corp SBUX 369,733.00 33,878,634.00 0.39
48251W104 KKR & Co Inc KKR 215,623.00 28,684,327.00 0.33
148929102 CAVA Group Inc CAVA 227,620.00 19,172,432.00 0.22
101137107 Boston Scientific Corp BSX 137,703.00 14,790,679.00 0.17
CURRENCY Currency -13,142,896.00 -13,142,689.00 -0.15

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

Jennison 50 Year Anniversary Logo

Jennison Associates is one of the nation's leading managers of growth, value, blend, and specialty equity strategies. It has earned a reputation for excellence by fulfilling the needs of clients for more than 50 years.

Blair Boyer, Michael Del Balso, Natasha Kuhlkin, Kathleen McCarragher and Owuraka Koney are the portfolio managers for the PGIM Jennison Growth Fund.

Kathleen McCarragher has announced her retirement mid-year 2026 and will be removed from the Fund on or about December 31, 2025.

Blair A. Boyer
Blair A. Boyer

Managing Director, Co-Head of Large Cap Growth Equity Team and a Large Cap Growth Equity Portfolio Manager

|

Jennison Associates

Blair Boyer is a managing director, co-head of the large cap growth equity team and a large cap growth equity portfolio manager.

Michael Del Balso
Michael Del Balso

Managing Director, Director of Research for Growth Equity, and a Large Cap Growth Equity Portfolio Manager

|

Jennison Associates

Michael Del Balso is a Managing Director, Director of Research for Growth Equity, and a Large Cap Growth Equity Portfolio Manager

Natasha Kuhlkin
Natasha Kuhlkin

Managing Director

|

Jennison Associates

Natasha is a large cap growth equity portfolio manager.

Kathleen A. McCarragher
Kathleen A. McCarragher

Managing Director, Head of Growth Equity, and Large Cap Growth Equity Portfolio Manager

|

Jennison Associates

Kathleen A. McCarragher is a managing director, head of growth equity, and Large Cap Growth Equity portfolio manager.

Owuraka Koney, CFA
Owuraka Koney, CFA

Managing Director

|

Large Cap Growth Portfolio Manager

|

Jennison Associates

Owuraka Koney is a large cap growth portfolio manager and an equity research analyst covering industrials, consumer internet, and media companies

Average weighted market capitalization is the average market capitalization of stocks in a fund, each weighted by its proportion of assets. Beta measures a fund's sensitivity to changes in the overall market relative to its benchmark. 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. Due to data availability, statistics may not be as of the current reporting period.

Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.

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 R shares are closed to new investors. Class R2 shares and Class R4 shares are only offered for sale to group retirement plans available through a retirement recordkeeper or third party administrator. 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. Jennison Associates is a registered investment advisor. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, 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.

4653878    Ed. 07/2025

Fund Literature

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