The investment seeks income and capital appreciation. The fund seeks to achieve its investment objective by investing primarily in real estate securities that the subadviser believes offer the potential for income. It normally invests at least 80% of its investable assets in equity and equity-related securities of real estate companies, principally real estate investment trusts (REITs), and other real estate securities. The term "investable assets" refers to the fund's net assets plus any borrowings for investment purposes.

Nasdaq

PRKZX

The fund invests normally at least 80% of the fund's investable assets in obligations the income from which is exempt from federal income tax, that is, municipal obligations. It, under normal conditions, invests at least 70% of its investable assets in "investment grade" municipal debt obligations. The fund, under normal conditions, may also invest up to 30% of its investable assets in high yield municipal debt obligations or junk bonds.

PRNMX

The fund seeks to provide total return through a combination of current income and capital appreciation. It normally invests at least 80% of its investable assets in master limited partnerships (MLPs) and MLP related investments (together, MLP investments). The term "investable assets" refers to the fund's net assets plus any borrowings for investment purposes. The fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. It is non-diversified.

PRPZX

The investment seeks total return through a combination of capital appreciation and current income.  The fund normally invests at least 80% of its investable assets in equity and equity-related and investment-grade debt securities of utility companies. The term "investable assets" refers to the fund's net assets plus any borrowings for investment purposes. The fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. It is non-diversified.

PRUAX

The fund normally invests over 80% of its investable assets in securities included in the S&P 500 Index in approximately the same proportions as those of the index. The advisory attempts to replicate the security composition of the S&P 500 Index and employs a “passively managed”—or index—investment approach. The S&P 500 Index is an unmanaged index of over 500 stocks of large U.S. public companies.

PSIFX

The fund normally invests at least 80% of its investable assets in equity and equity-related securities of large capitalization U.S. companies. The sub-adviser employs a quantitatively driven, bottom-up investment process. The stock selection process utilizes an adaptive model that evaluates stocks differently based on their growth expectations.

PTEZX

The fund invests primarily in real assets that may perform well in periods of high inflation. Real return is the rate of return after adjusting for inflation. It invests in real assets through its investments within the following asset classes: commodities; domestic and international real estate; utilities/infrastructure; natural resources; master limited partnerships ("MLPs"); fixed income instruments; and gold/defensive.

PUDZX

The fund normally invests at least 80% of its investable assets (net assets plus any borrowings made for investment purposes) in equity-related securities of real estate companies, principally real estate investment trusts ("REITs"), and other real estate securities. Equity-related securities may also include common stock, convertible securities, nonconvertible preferred stock, American Depositary Receipts (ADRs), warrants and other rights that can be exercised to obtain stock, investments in various types of business ventures and similar securities.

PURZX

The fund invests a majority of its net assets in equity and equity-related securities of non-U.S. companies located in various countries outside the U.S., including non-U.S. issuers located in emerging markets. It can invest without limit in foreign securities, typically invests in a number of different countries, and may invest a significant portion of its assets in companies located in emerging markets. The fund may invest in American Depositary Receipts ("ADRs"), American Depositary Shares ("ADSs") and similar securities.

PWJZX

The fund seeks to achieve its objective by investing in fixed income instruments, whereby issuers borrow money from investors in return for either a fixed or variable rate of interest and eventual repayment of the amount borrowed. It invests, under normal circumstances, at least 80% of the fund's investable assets in fixed-income instruments with varying maturities. It may invest up to 50% of its total assets in asset-backed securities.

SDMZX

The fund normally invests at least 65% of the fund's total assets in equity and equity-related securities of companies that the subadviser believes have strong capital appreciation potential. These companies are generally medium- to large-capitalization companies. The equity and equity-related securities in which the fund primarily invests are common stocks, non-convertible preferred stocks and convertible securities. It participates in the initial public offering (IPO) market. The fund also may invest in foreign securities. The fund is non-diversified.

SPFZX

The fund seeks to achieve its investment objective by investing primarily in real estate securities. It normally will invest at least 80% of its investable assets in equity and equity-related securities of real estate companies, principally real estate investment trusts (REITs), and other real estate securities. The fund invests in approximately 30-50 securities in which the portfolio managers have a high level of conviction for seeking capital appreciation and/or income.

SREZX

The investment seeks long-term growth of capital. The fund invests in a diversified portfolio of large-capitalization company stocks that the subadviser believes are attractively priced when evaluated using quantitative measures such as P/E, P/CF, and P/B ratios. Although the strategy emphasizes attractive valuations, the subadviser also considers other quantifiable characteristics. Such characteristics may include measures of earnings quality, external financing, or trends in the earnings outlook. The subadviser's investment management team also exercises judgment when evaluating underlying data and positions recommended by the fund's quantitative process.

SUVZX

The fund invests, under normal circumstances, at least 80% of the fund's investable assets in bonds. It invests in securities that are rated investment-grade at the time of purchase. For purposes of this policy, bonds include all fixed-income securities, including but not limited to debt obligations issued by the U.S. government and its agencies, corporate debt securities, mortgage-related securities, and asset-backed securities.

TAIBX

The fund normally invests at least 80% of its investable assets in equity and equity-related securities of small-cap companies. The subadviser considers small-cap companies to be companies with market capitalizations within the market capitalization range of companies included in the Russell 2000 Index. Most assets will typically be invested in U.S. equity and equity-related securities, including up to 25% of total assets in real estate investment trusts (REITs).

TASVX

The fund normally invests at least 80% of its investable assets in equity and equity-related securities of companies with market capitalizations comparable to those found in the Russell 1000 Index. It may actively and frequently trade its portfolio securities.

TBDAX

The fund normally invests at least 80% of its investable assets in bonds of corporations with varying maturities. For purposes of this policy, bonds include all fixed-income securities, adjustable rate securities and floating rate securities, other than preferred stock, and corporations include all private issuers.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
PRKZX	PGIM Real Estate Income Fund	REIT	Jun 3, 2015	1.38%	-0.09%	—	4.14%
PRNMX	PGIM National Muni Fund	Municipal Bonds	Jan 21, 1990	0.61%	0.08%	1.94%	2.61%
PRPZX	PGIM Jennison MLP Fund	Energy Equities	Dec 17, 2013	1.19%	12.71%	2.68%	5.46%
PRUAX	PGIM Jennison Utility Fund	Utilities Equities	Jan 21, 1990	0.83%	15.06%	7.83%	8.58%
PSIFX	PGIM Quant Solutions Stock Index Fund	Large Cap Blend Equities	Nov 5, 1992	0.24%	11.21%	10.10%	12.12%
PTEZX	PGIM Quant Solutions Large-Cap Core Equity Fund	Large Cap Blend Equities	Mar 3, 1999	0.49%	13.23%	12.25%	3.12%
PUDZX	PGIM Real Assets Fund	Diversified Portfolio	Dec 29, 2010	0.25%	4.96%	3.23%	3.71%
PURZX	PGIM Global Real Estate Fund	REIT	May 4, 1998	0.93%	0.22%	3.77%	2.41%
PWJZX	PGIM Jennison International Opportunities Fund	Foreign Large Cap Equities	Jun 4, 2012	0.90%	10.55%	9.54%	0.08%
SDMZX	PGIM Short Duration Multi-Sector Bond Fund	Short-Term Bond	Dec 23, 2013	0.46%	1.59%	2.30%	4.51%
SPFZX	PGIM Jennison Focused Growth Fund	Large Cap Growth Equities	Jun 2, 2000	0.75%	14.62%	15.53%	0.00%
SREZX	PGIM Select Real Estate Fund	REIT	Jul 31, 2014	1.01%	1.23%	—	2.92%
SUVZX	PGIM Quant Solutions Large-Cap Value Fund	Large Cap Value Equities	Mar 30, 2001	0.80%	7.00%	7.01%	3.55%
TAIBX	PGIM Core Bond Fund	Intermediate Core Bond	Jan 5, 1993	0.33%	-0.82%	1.23%	4.43%
TASVX	PGIM Quant Solutions Small-Cap Value Fund	Small Cap Value Equities	Jan 5, 1993	0.79%	0.11%	3.06%	3.38%
TBDAX	PGIM Jennison Diversified Growth Fund	Large Cap Growth Equities	Nov 3, 1999	1.15%	15.93%	14.22%	0.00%
TGMBX	PGIM Corporate Bond Fund	Corporate Bonds	Jan 4, 1993	0.55%	-0.25%	2.40%	3.74%

PGIM Investments Mutual Funds List

Risk vs. Return Scatterplot