PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Long-Term Investments 89.8%          
Corporate Bonds 6.6%
Brazil 0.5%
JSM Global Sarl,
Gtd. Notes, 144A 		4.750 % 10/20/30   200  $154,100
Jamaica 0.5%
Digicel Ltd.,
Gtd. Notes 		6.750 03/01/23   235 148,050
Malaysia 0.6%
Gohl Capital Ltd.,
Gtd. Notes 		4.250 01/24/27   200 177,163
Mexico 2.9%
America Movil SAB de CV,
Sr. Unsec’d. Notes 		6.450 12/05/22 MXN 14,250 689,327
Petroleos Mexicanos,          
Gtd. Notes 6.490 01/23/27   55 49,768
Gtd. Notes, MTN 6.875 08/04/26   105 100,055
          839,150
South Africa 1.4%
Eskom Holdings SOC Ltd.,
Sr. Unsec’d. Notes, 144A, MTN 		6.750 08/06/23   200 198,037
Sasol Financing USA LLC,
Gtd. Notes 		5.875 03/27/24   200 199,000
          397,037
Supranational Bank 0.7%
European Investment Bank,          
Sr. Unsec’d. Notes, EMTN 12.576(s) 09/05/22 TRY 1,260 67,373
Sr. Unsec’d. Notes, EMTN 3.000 05/24/24 PLN 600 119,173
          186,546
     
 
Total Corporate Bonds
(cost $2,457,220) 		1,902,046
1
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Foreign Treasury Obligation 0.7%
Brazil 
Brazil Letras do Tesouro Nacional,
Bills, Series LTN
(cost $224,168) 		6.144 %(s) 01/01/24 BRL 1,318  $213,301
Sovereign Bonds 82.5%
Angola 0.6%
Angolan Government International Bond,
Sr. Unsec’d. Notes 		9.500 11/12/25   200 186,000
Argentina 0.3%
Argentine Republic Government International Bond,
Sr. Unsec’d. Notes 		1.000 07/09/29   24 5,535
Provincia de Buenos Aires,
Sr. Unsec’d. Notes, 144A, MTN 		3.900(cc) 09/01/37   249 75,018
          80,553
Brazil 4.4%
Brazil Minas SPE via State of Minas Gerais,
Gov’t. Gtd. Notes 		5.333 02/15/28   141 138,823
Brazil Notas do Tesouro Nacional,          
Notes, Series NTNB 6.000 08/15/30 BRL 1,857 353,589
Notes, Series NTNB 6.000 05/15/35 BRL 518 97,399
Notes, Series NTNF 10.000 01/01/25 BRL 617 112,726
Notes, Series NTNF 10.000 01/01/27 BRL 2,969 523,134
Notes, Series NTNF 10.000 01/01/31 BRL 200 33,119
     
 
Brazilian Government International Bond,
Sr. Unsec’d. Notes 		8.500 01/05/24 BRL 54 9,741
          1,268,531
Chile 1.7%
Bonos de la Tesoreria de la Republica en pesos,          
Bonds 5.000 03/01/35 CLP 115,000 110,567
Bonds, 144A 5.000 10/01/28 CLP 110,000 111,020
Bonds, Series 30YR 6.000 01/01/43 CLP 135,000 139,998
Unsec’d. Notes, 144A 2.800 10/01/33 CLP 50,000 39,054
Unsec’d. Notes, 144A 4.700 09/01/30 CLP 95,000 93,091
          493,730
2
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
China 7.7%
China Government Bond,          
Bonds, Series 1906 3.290 % 05/23/29 CNH 3,690  $567,284
Bonds, Series 1910 3.860 07/22/49 CNH 680 110,474
Bonds, Series INBK 1.990 04/09/25 CNH 5,500 807,835
Bonds, Series INBK 2.850 06/04/27 CNH 1,250 187,765
Bonds, Series INBK 3.270 11/19/30 CNH 2,890 443,435
Unsec’d. Notes, Series INBK 3.810 09/14/50 CNH 770 124,458
          2,241,251
Colombia 4.8%
Colombian TES,          
Bonds, Series B 5.750 11/03/27 COP 250,000 44,908
Bonds, Series B 6.000 04/28/28 COP 2,121,000 376,882
Bonds, Series B 6.250 07/09/36 COP 866,000 121,425
Bonds, Series B 7.000 03/26/31 COP 1,288,000 218,460
Bonds, Series B 7.000 06/30/32 COP 1,457,100 238,936
Bonds, Series B 7.250 10/18/34 COP 777,800 124,000
Bonds, Series B 7.250 10/26/50 COP 210,000 28,883
Bonds, Series B 7.750 09/18/30 COP 500,000 90,447
Bonds, Series G 7.000 03/26/31 COP 759,800 128,694
Sr. Unsec’d. Notes, Series UVR 3.750 06/16/49 COP 202,405 32,779
          1,405,414
Czech Republic 2.9%
Czech Republic Government Bond,          
Bonds, Series 049 4.200 12/04/36 CZK 2,000 84,167
Bonds, Series 078 2.500 08/25/28 CZK 2,100 77,188
Bonds, Series 094 0.950 05/15/30 CZK 5,720 184,965
Bonds, Series 103 2.000 10/13/33 CZK 7,340 250,138
Bonds, Series 105 2.750 07/23/29 CZK 3,500 130,429
Bonds, Series 121 1.200 03/13/31 CZK 3,300 106,602
          833,489
Gabon 0.6%
Gabon Government International Bond,
Sr. Unsec’d. Notes 		6.950 06/16/25   200 164,662
Hungary 3.7%
Hungary Government Bond,          
Bonds, Series 26/D 2.750 12/22/26 HUF 171,150 324,907
3
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Hungary (cont’d.)
Hungary Government Bond, (cont’d.)          
Bonds, Series 26/E 1.500 % 04/22/26 HUF 59,060  $110,795
Bonds, Series 26/F 1.500 08/26/26 HUF 65,380 119,639
Bonds, Series 27/A 3.000 10/27/27 HUF 42,680 80,051
Bonds, Series 28/A 6.750 10/22/28 HUF 35,160 78,180
Bonds, Series 28/B 4.500 03/23/28 HUF 20,430 40,787
Bonds, Series 29/A 2.000 05/23/29 HUF 128,070 213,787
Bonds, Series 34/A 2.250 06/22/34 HUF 24,810 35,496
Bonds, Series 38/A 3.000 10/27/38 HUF 21,890 30,947
Bonds, Series 51/G 4.000 04/28/51 HUF 29,330 42,961
          1,077,550
Indonesia 11.0%
Indonesia Treasury Bond,          
Bonds, Series 056 8.375 09/15/26 IDR 6,596,000 474,939
Bonds, Series 059 7.000 05/15/27 IDR 2,362,000 160,758
Bonds, Series 068 8.375 03/15/34 IDR 6,268,000 453,223
Bonds, Series 070 8.375 03/15/24 IDR 1,410,000 99,244
Bonds, Series 071 9.000 03/15/29 IDR 3,640,000 271,420
Bonds, Series 072 8.250 05/15/36 IDR 3,816,000 274,639
Bonds, Series 073 8.750 05/15/31 IDR 4,940,000 364,692
Bonds, Series 075 7.500 05/15/38 IDR 3,754,000 255,624
Bonds, Series 078 8.250 05/15/29 IDR 4,814,000 345,654
Bonds, Series 079 8.375 04/15/39 IDR 400,000 29,260
Bonds, Series 081 6.500 06/15/25 IDR 993,000 67,550
Bonds, Series 082 7.000 09/15/30 IDR 5,915,000 395,397
          3,192,400
Ivory Coast 0.3%
Ivory Coast Government International Bond,
Sr. Unsec’d. Notes 		5.250 03/22/30 EUR 115 90,598
Malaysia 4.7%
Malaysia Government Bond,          
Bonds, Series 0115 3.955 09/15/25 MYR 680 154,373
Bonds, Series 0118 3.882 03/14/25 MYR 977 221,442
Bonds, Series 0120 4.065 06/15/50 MYR 660 136,259
Bonds, Series 0219 3.885 08/15/29 MYR 1,410 315,760
Bonds, Series 0317 4.762 04/07/37 MYR 842 200,175
Bonds, Series 0411 4.232 06/30/31 MYR 280 63,944
Bonds, Series 0413 3.844 04/15/33 MYR 390 85,588
4
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Malaysia (cont’d.)
Malaysia Government Bond, (cont’d.)          
Bonds, Series 0419 3.828 % 07/05/34 MYR 400   $86,871
     
 
Malaysia Government Investment Issue,
Bonds, Series 0121 		3.447 07/15/36 MYR 430 88,074
          1,352,486
Mexico 4.1%
Mexican Bonos,          
Bonds, Series M 7.750 05/29/31 MXN 6,610 307,029
Bonds, Series M 8.000 11/07/47 MXN 5,313 241,070
Bonds, Series M30 10.000 11/20/36 MXN 1,718 93,845
Sr. Unsec’d. Notes, Series M 7.750 11/13/42 MXN 4,192 185,863
Sr. Unsec’d. Notes, Series M30 8.500 11/18/38 MXN 4,817 230,826
     
 
Mexican Udibonos,
Bonds, Series S 		2.750 11/27/31 MXN 3,149 139,539
          1,198,172
Pakistan 1.0%
Pakistan Government International Bond,
Sr. Unsec’d. Notes 		8.250 09/30/25   200 110,022
Third Pakistan International Sukuk Co. Ltd. (The),
Sr. Unsec’d. Notes, 144A 		5.625 12/05/22   200 174,662
          284,684
Peru 2.3%
Peru Government Bond,          
Bonds 5.940 02/12/29 PEN 210 47,663
Bonds 6.950 08/12/31 PEN 190 44,679
Sr. Unsec’d. Notes 5.350 08/12/40 PEN 540 99,598
Sr. Unsec’d. Notes 5.400 08/12/34 PEN 580 115,915
Sr. Unsec’d. Notes 6.150 08/12/32 PEN 393 86,195
Peruvian Government International Bond,          
Sr. Unsec’d. Notes 6.350 08/12/28 PEN 435 102,261
Sr. Unsec’d. Notes 6.850 02/12/42 PEN 245 53,286
Sr. Unsec’d. Notes 6.900 08/12/37 PEN 7 1,564
Sr. Unsec’d. Notes 6.950 08/12/31 PEN 478 112,403
          663,564
5
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Philippines 0.3%
Philippine Government Bond,
Bonds, Series 1060 		3.625 % 09/09/25 PHP 5,600  $96,041
Poland 6.6%
Republic of Poland Government Bond,          
Bonds, Series 0428 2.750 04/25/28 PLN 1,480 273,946
Bonds, Series 0725 3.250 07/25/25 PLN 3,021 600,486
Bonds, Series 0726 2.500 07/25/26 PLN 2,960 559,907
Bonds, Series 1026 0.250 10/25/26 PLN 280 47,696
Bonds, Series 1029 2.750 10/25/29 PLN 1,740 313,223
Bonds, Series 1030 1.250 10/25/30 PLN 750 115,917
          1,911,175
Romania 1.7%
Romania Government Bond,          
Bonds, Series 07YR 3.250 04/29/24 RON 750 143,388
Bonds, Series 07YR 4.850 04/22/26 RON 980 181,659
Bonds, Series 10YR 5.850 04/26/23 RON 460 93,794
Bonds, Series 15YR 3.650 09/24/31 RON 590 88,505
          507,346
Russia 1.7%
Russian Federal Bond - OFZ,          
Bonds, Series 6212 7.050 01/19/28(d) RUB 7,215 25,448
Bonds, Series 6218 8.500 09/17/31(d) RUB 16,712 58,944
Bonds, Series 6221 7.700 03/23/33(d) RUB 14,280 50,366
Bonds, Series 6224 6.900 05/23/29(d) RUB 27,635 97,470
Bonds, Series 6228 7.650 04/10/30(d) RUB 22,600 79,711
Bonds, Series 6229 7.150 11/12/25(d) RUB 7,500 26,453
Bonds, Series 6230 7.700 03/16/39(d) RUB 13,030 45,958
Bonds, Series 6232 6.000 10/06/27(d) RUB 8,500 29,980
Bonds, Series 6235 5.900 03/12/31(d) RUB 12,884 45,443
     
 
Russian Federal Inflation Linked Bond,
Unsec’d. Notes, Series 2003 		2.500 07/17/30(d) RUB 9,503 33,516
          493,289
6
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Serbia 0.4%
Serbia Treasury Bonds,          
Bonds, Series 07YR 4.500 % 01/11/26 RSD 9,460  $77,726
Bonds, Series 12.5 4.500 08/20/32 RSD 6,240 44,732
          122,458
South Africa 14.4%
Republic of South Africa Government Bond,          
Sr. Unsec’d. Notes, Series 2030 8.000 01/31/30 ZAR 12,695 672,039
Sr. Unsec’d. Notes, Series 2032 8.250 03/31/32 ZAR 8,470 433,015
Sr. Unsec’d. Notes, Series 2035 8.875 02/28/35 ZAR 6,104 313,326
Sr. Unsec’d. Notes, Series 2037 8.500 01/31/37 ZAR 9,043 438,840
Sr. Unsec’d. Notes, Series 2040 9.000 01/31/40 ZAR 2,480 123,147
Sr. Unsec’d. Notes, Series 2044 8.750 01/31/44 ZAR 5,485 262,578
Sr. Unsec’d. Notes, Series 2048 8.750 02/28/48 ZAR 2,955 140,743
Sr. Unsec’d. Notes, Series R186 10.500 12/21/26 ZAR 17,734 1,125,939
Sr. Unsec’d. Notes, Series R209 6.250 03/31/36 ZAR 3,850 153,787
Sr. Unsec’d. Notes, Series R213 7.000 02/28/31 ZAR 7,550 362,079
Sr. Unsec’d. Notes, Series R214 6.500 02/28/41 ZAR 4,565 174,326
          4,199,819
Thailand 6.9%
Thailand Government Bond,          
Bonds 1.600 12/17/29 THB 3,885 99,126
Bonds 2.000 06/17/42 THB 2,080 45,722
Bonds 2.875 12/17/28 THB 12,015 334,956
Bonds 2.875 06/17/46 THB 3,065 72,816
Bonds 3.300 06/17/38 THB 4,300 117,528
Bonds 3.400 06/17/36 THB 9,585 267,644
Sr. Unsec’d. Notes 1.600 06/17/35 THB 2,700 61,761
Sr. Unsec’d. Notes 1.875 06/17/49 THB 1,063 19,346
Sr. Unsec’d. Notes 2.000 12/17/31 THB 18,625 482,813
Sr. Unsec’d. Notes 2.125 12/17/26 THB 4,535 122,695
Sr. Unsec’d. Notes 3.650 06/20/31 THB 2,559 75,497
Sr. Unsec’d. Notes 3.775 06/25/32 THB 9,780 292,758
          1,992,662
Turkey 0.1%
Turkey Government Bond,
Bonds 		8.500 09/14/22 TRY 395 21,766
7
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		Principal
Amount
(000)# 		Value
Sovereign Bonds (Continued)
Ukraine 0.2%
Ukraine Government International Bond,          
Sr. Unsec’d. Notes 6.750 % 06/20/26(d) EUR 150  $29,512
Sr. Unsec’d. Notes 7.750 09/01/24   222 42,180
          71,692
Uruguay 0.1%
Uruguay Government International Bond,
Sr. Unsec’d. Notes, 144A 		8.500 03/15/28 UYU 1,870 41,125
     
 
Total Sovereign Bonds
(cost $30,390,013) 		23,990,457
 
Total Long-Term Investments
(cost $33,071,401) 		26,105,804
    
      Shares  
Short-Term Investments 1.5%  
Unaffiliated Fund 1.3%  
Dreyfus Government Cash Management (Institutional Shares)
(cost $361,076) 		      361,076 361,076
Options Purchased*~ 0.2%  
(cost $53,269)   66,096
     
 
   
Total Short-Term Investments
(cost $414,345) 		  427,172
     
 
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 91.3%
(cost $33,485,746) 		  26,532,976
Options Written*~ (0.3)%  
(premiums received $77,983)   (78,584)
   
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 91.0%
(cost $33,407,763) 		  26,454,392
Other assets in excess of liabilities(z) 9.0%   2,625,660
   
Net Assets 100.0%   $29,080,052
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
  AUD—Australian Dollar
  BRL—Brazilian Real
8
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
  CAD—Canadian Dollar
  CLP—Chilean Peso
  CNH—Chinese Renminbi
  COP—Colombian Peso
  CZK—Czech Koruna
  EGP—Egyptian Pound
  EUR—Euro
  HUF—Hungarian Forint
  IDR—Indonesian Rupiah
  ILS—Israeli Shekel
  INR—Indian Rupee
  JPY—Japanese Yen
  KRW—South Korean Won
  MXN—Mexican Peso
  MYR—Malaysian Ringgit
  PEN—Peruvian Nuevo Sol
  PHP—Philippine Peso
  PLN—Polish Zloty
  RON—Romanian Leu
  RSD—Serbian Dinar
  RUB—Russian Ruble
  SGD—Singapore Dollar
  THB—Thai Baht
  TRY—Turkish Lira
  TWD—New Taiwanese Dollar
  USD—US Dollar
  UYU—Uruguayan Peso
  ZAR—South African Rand
    
  144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
  A—Annual payment frequency for swaps
  BROIS—Brazil Overnight Index Swap
  BUBOR—Budapest Interbank Offered Rate
  CDX—Credit Derivative Index
  CLOIS—Sinacofi Chile Interbank Rate Average
  COOIS—Colombia Overnight Interbank Reference Rate
  EMTN—Euro Medium Term Note
  JIBAR—Johannesburg Interbank Agreed Rate
  KLIBOR—Kuala Lumpur Interbank Offered Rate
  KWCDC—Korean Won Certificate of Deposit
  M—Monthly payment frequency for swaps
  MTN—Medium Term Note
  OFZ—Obligatsyi Federal’novo Zaima (Federal Loan Obligations)
  OTC—Over-the-counter
  PRIBOR—Prague Interbank Offered Rate
  Q—Quarterly payment frequency for swaps
  S—Semiannual payment frequency for swaps
  T—Swap payment upon termination
  WIBOR—Warsaw Interbank Offered Rate
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
~ See tables subsequent to the Schedule of Investments for options detail.
9
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
(cc) Variable rate instrument. The rate shown is based on the latest available information as of July 31, 2022. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
Options Purchased:
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   08/08/22     6.55   —       280  $8,180
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   08/08/22     8.00   —       140 —
Currency Option USD vs CNH   Call   Goldman Sachs International   09/02/22     6.55   —       283 8,203
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   09/13/22     6.85   —       1,771 5,620
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   10/19/22     6.50   —       977 35,240
Currency Option USD vs INR   Call   JPMorgan Chase Bank, N.A.   10/25/22     81.00   —       704 4,460
Currency Option USD vs MXN   Call   JPMorgan Chase Bank, N.A.   08/11/22     21.00   —       266 567
Currency Option USD vs ZAR   Call   Citibank, N.A.   09/23/22     17.25   —       283 3,760
Currency Option EUR vs CZK   Put   JPMorgan Chase Bank, N.A.   08/23/22     23.00   —   EUR   142 1
Currency Option USD vs BRL   Put   Goldman Sachs International   08/04/22     3.90   —       232 —
Currency Option USD vs BRL   Put   Morgan Stanley & Co. International PLC   08/09/22     4.00   —       287 —
Currency Option USD vs BRL   Put   Morgan Stanley & Co. International PLC   08/31/22     4.40   —       62 4
Currency Option USD vs BRL   Put   Goldman Sachs International   10/11/22     3.90   —       225 11
Currency Option USD vs CLP   Put   Morgan Stanley & Co. International PLC   08/18/22     675.00   —       285 —
Currency Option USD vs CLP   Put   Citibank, N.A.   10/20/22     650.00   —       143 4
Currency Option USD vs CNH   Put   JPMorgan Chase Bank, N.A.   08/08/22     5.60   —       280 —
Currency Option USD vs CNH   Put   Goldman Sachs International   09/02/22     5.75   —       283 —
10
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Options Purchased (continued):
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option USD vs COP   Put   Morgan Stanley & Co. International PLC   08/18/22     3,650.00   —       214  $3
Currency Option USD vs MXN   Put   JPMorgan Chase Bank, N.A.   08/11/22     18.00   —       266 —
Currency Option USD vs MXN   Put   Morgan Stanley & Co. International PLC   09/06/22     17.00   —       1,401 6
Currency Option USD vs ZAR   Put   Citibank, N.A.   09/23/22     14.25   —       283 33
Currency Option USD vs ZAR   Put   JPMorgan Chase Bank, N.A.   09/28/22     13.00   —       432 4
Total Options Purchased (cost $53,269)     $66,096
Options Written:
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   08/08/22     6.90   —       420  $(89)
Currency Option USD vs CNH   Call   Goldman Sachs International   09/02/22     6.80   —       283 (1,093)
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   09/13/22     7.05   —       1,771 (1,237)
Currency Option USD vs CNH   Call   JPMorgan Chase Bank, N.A.   10/19/22     6.75   —       977 (9,570)
Currency Option USD vs INR   Call   JPMorgan Chase Bank, N.A.   10/25/22     83.00   —       704 (1,631)
Currency Option USD vs ZAR   Call   Citibank, N.A.   09/23/22     18.25   —       283 (1,209)
Currency Option EUR vs CZK   Put   JPMorgan Chase Bank, N.A.   08/23/22     24.50   —   EUR   142 (376)
Currency Option USD vs BRL   Put   Morgan Stanley & Co. International PLC   08/09/22     5.10   —       287 (1,869)
Currency Option USD vs BRL   Put   Morgan Stanley & Co. International PLC   08/31/22     5.00   —       62 (420)
Currency Option USD vs CLP   Put   Morgan Stanley & Co. International PLC   08/18/22     880.00   —       285 (2,810)
Currency Option USD vs CLP   Put   Citibank, N.A.   10/20/22     850.00   —       143 (1,767)
Currency Option USD vs CNH   Put   JPMorgan Chase Bank, N.A.   08/08/22     6.40   —       280 —
11
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Options Written (continued):
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option USD vs CNH   Put   Goldman Sachs International   09/02/22     6.25   —       283  $(1)
Currency Option USD vs COP   Put   Morgan Stanley & Co. International PLC   08/18/22     4,150.00   —       214 (919)
Currency Option USD vs MXN   Put   JPMorgan Chase Bank, N.A.   08/11/22     20.30   —       266 (1,646)
Currency Option USD vs MXN   Put   Morgan Stanley & Co. International PLC   09/06/22     21.50   —       961 (50,602)
Currency Option USD vs ZAR   Put   Citibank, N.A.   09/23/22     16.25   —       283 (3,345)
Total Options Written (premiums received $77,983)     $(78,584)
Futures contracts outstanding at July 31, 2022:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Short Positions:
3   2 Year U.S. Treasury Notes   Sep. 2022    $631,383    $1,068
1   5 Year Euro-Bobl   Sep. 2022   130,689   (2,771)
6   5 Year U.S. Treasury Notes   Sep. 2022   682,359   (3,329)
1   10 Year U.S. Treasury Notes   Sep. 2022   121,141   (1,157)
                $(6,189)
Forward foreign currency exchange contracts outstanding at July 31, 2022:
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   AUD 110    $74,913    $76,948    $2,035    $—
Brazilian Real,
Expiring 08/02/22   Citibank, N.A.   BRL 3,326   621,457   642,074   20,617   —
Expiring 08/02/22   Citibank, N.A.   BRL 413   75,981   79,674   3,693   —
Expiring 08/02/22   Goldman Sachs International   BRL 1,213   230,000   234,132   4,132   —
Expiring 08/02/22   JPMorgan Chase Bank, N.A.   BRL 952   180,634   183,841   3,207   —
12
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Brazilian Real (cont’d.),
Expiring 08/02/22   The Toronto-Dominion Bank   BRL 20,023    $3,798,575    $3,865,272    $66,697    $—
Expiring 08/02/22   UBS AG   BRL 644   119,000   124,364   5,364   —
Expiring 09/02/22   Deutsche Bank AG   BRL 470   85,050   89,885   4,835   —
Expiring 09/02/22   Deutsche Bank AG   BRL 199   37,476   38,007   531   —
Expiring 09/02/22   The Toronto-Dominion Bank   BRL 12,831   2,323,912   2,454,313   130,401   —
Chilean Peso,
Expiring 09/21/22   BNP Paribas S.A.   CLP 228,306   273,420   250,981   —   (22,439)
Chinese Renminbi,
Expiring 08/23/22   Barclays Bank PLC   CNH 395   58,893   58,528   —   (365)
Expiring 08/23/22   Citibank, N.A.   CNH 2,329   347,000   345,103   —   (1,897)
Expiring 08/23/22   Citibank, N.A.   CNH 845   126,277   125,264   —   (1,013)
Expiring 08/23/22   Goldman Sachs International   CNH 2,080   309,000   308,162   —   (838)
Expiring 08/23/22   HSBC Bank PLC   CNH 2,222   330,996   329,287   —   (1,709)
Expiring 08/23/22   JPMorgan Chase Bank, N.A.   CNH 2,500   370,430   370,469   39   —
Expiring 08/23/22   Standard Chartered Bank   CNH 10,576   1,577,169   1,567,290   —   (9,879)
Colombian Peso,
Expiring 09/21/22   BNP Paribas S.A.   COP 196,284   48,694   45,357   —   (3,337)
Expiring 09/21/22   Citibank, N.A.   COP 3,128,838   808,851   723,001   —   (85,850)
Expiring 09/21/22   Citibank, N.A.   COP 140,938   32,482   32,568   86   —
Expiring 09/21/22   Goldman Sachs International   COP 1,098,588   249,000   253,858   4,858   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   COP 243,720   57,850   56,318   —   (1,532)
Expiring 09/21/22   The Toronto-Dominion Bank   COP 300,000   67,507   69,323   1,816   —
Czech Koruna,
Expiring 10/19/22   Citibank, N.A.   CZK 8,952   363,184   367,770   4,586   —
Expiring 10/19/22   Morgan Stanley & Co. International PLC   CZK 14,020   567,451   575,992   8,541   —
Egyptian Pound,
Expiring 11/30/22   Citibank, N.A.   EGP 4,319   210,277   211,088   811   —
Expiring 11/30/22   Citibank, N.A.   EGP 3,247   162,200   158,704   —   (3,496)
Expiring 11/30/22   Citibank, N.A.   EGP 1,294   64,000   63,246   —   (754)
Expiring 11/30/22   Citibank, N.A.   EGP 587   28,000   28,710   710   —
Expiring 11/30/22   Citibank, N.A.   EGP 483   23,000   23,606   606   —
Expiring 11/30/22   Morgan Stanley & Co. International PLC   EGP 1,042   51,000   50,910   —   (90)
13
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Hungarian Forint,
Expiring 10/19/22   Bank of America, N.A.   HUF 51,604    $129,860    $127,869    $—    $(1,991)
Expiring 10/19/22   Barclays Bank PLC   HUF 81,329   206,000   201,523   —   (4,477)
Expiring 10/19/22   Barclays Bank PLC   HUF 47,060   117,000   116,609   —   (391)
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   HUF 64,704   156,000   160,330   4,330   —
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   HUF 51,781   125,000   128,307   3,307   —
Expiring 10/19/22   Morgan Stanley & Co. International PLC   HUF 50,547   122,000   125,250   3,250   —
Expiring 10/19/22   UBS AG   HUF 61,910   152,000   153,405   1,405   —
Expiring 10/19/22   UBS AG   HUF 59,799   151,000   148,175   —   (2,825)
Expiring 10/19/22   UBS AG   HUF 50,369   124,000   124,808   808   —
Indian Rupee,
Expiring 09/21/22   Morgan Stanley & Co. International PLC   INR 11,540   145,172   144,756   —   (416)
Indonesian Rupiah,
Expiring 09/21/22   Citibank, N.A.   IDR 7,317,608   484,257   492,696   8,439   —
Expiring 09/21/22   Goldman Sachs International   IDR 1,159,620   77,000   78,077   1,077   —
Expiring 09/21/22   HSBC Bank PLC   IDR 19,990,524   1,326,000   1,345,966   19,966   —
Expiring 09/21/22   Standard Chartered Bank   IDR 1,728,795   115,000   116,400   1,400   —
Israeli Shekel,
Expiring 09/21/22   Bank of America, N.A.   ILS 783   223,000   231,095   8,095   —
Expiring 09/21/22   Citibank, N.A.   ILS 3,768   1,071,919   1,112,236   40,317   —
Expiring 09/21/22   Goldman Sachs International   ILS 1,061   306,000   313,142   7,142   —
Expiring 09/21/22   Goldman Sachs International   ILS 123   36,968   36,323   —   (645)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ILS 469   139,000   138,553   —   (447)
Japanese Yen,
Expiring 10/19/22   BNP Paribas S.A.   JPY 13,106   96,056   98,934   2,878   —
Malaysian Ringgit,
Expiring 09/21/22   Barclays Bank PLC   MYR 2,575   586,419   578,122   —   (8,297)
Expiring 09/21/22   Goldman Sachs International   MYR 2,723   615,000   611,422   —   (3,578)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   MYR 2,858   640,000   641,737   1,737   —
Mexican Peso,
Expiring 09/21/22   BNP Paribas S.A.   MXN 5,433   272,000   263,875   —   (8,125)
Expiring 09/21/22   Citibank, N.A.   MXN 1,543   73,362   74,923   1,561   —
14
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Mexican Peso (cont’d.),
Expiring 09/21/22   Goldman Sachs International   MXN 465    $23,285    $22,573    $—    $(712)
Expiring 09/21/22   HSBC Bank PLC   MXN 44,843   2,233,817   2,177,940   —   (55,877)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   MXN 7,559   378,000   367,131   —   (10,869)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   MXN 1,457   70,840   70,751   —   (89)
Expiring 09/21/22   UBS AG   MXN 9,051   439,800   439,574   —   (226)
Expiring 09/21/22   UBS AG   MXN 3,268   156,509   158,716   2,207   —
Expiring 09/21/22   UBS AG   MXN 763   37,376   37,060   —   (316)
New Taiwanese Dollar,
Expiring 09/21/22   Goldman Sachs International   TWD 11,135   376,000   371,818   —   (4,182)
Expiring 09/21/22   Goldman Sachs International   TWD 9,272   312,000   309,613   —   (2,387)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   TWD 39,120   1,317,785   1,306,257   —   (11,528)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   TWD 9,176   309,000   306,409   —   (2,591)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   TWD 2,308   77,434   77,081   —   (353)
Expiring 09/21/22   UBS AG   TWD 9,295   312,000   310,365   —   (1,635)
Peruvian Nuevo Sol,
Expiring 09/21/22   Bank of America, N.A.   PEN 687   183,083   173,950   —   (9,133)
Expiring 09/21/22   Barclays Bank PLC   PEN 554   147,699   140,261   —   (7,438)
Expiring 09/21/22   Barclays Bank PLC   PEN 309   82,218   78,077   —   (4,141)
Expiring 09/21/22   BNP Paribas S.A.   PEN 2,718   714,363   687,784   —   (26,579)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   PEN 110   28,451   27,769   —   (682)
Philippine Peso,
Expiring 09/21/22   Bank of America, N.A.   PHP 28,951   533,000   521,313   —   (11,687)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   PHP 25,049   465,000   451,049   —   (13,951)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   PHP 19,196   358,476   345,668   —   (12,808)
Expiring 09/21/22   Standard Chartered Bank   PHP 28,675   535,629   516,347   —   (19,282)
Expiring 09/21/22   The Toronto-Dominion Bank   PHP 28,170   526,537   507,250   —   (19,287)
Polish Zloty,
Expiring 10/19/22   HSBC Bank PLC   PLN 816   170,804   173,487   2,683   —
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   PLN 1,119   240,648   238,096   —   (2,552)
15
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Romanian Leu,
Expiring 10/19/22   Citibank, N.A.   RON 2,036    $411,923    $416,785    $4,862    $—
Singapore Dollar,
Expiring 09/21/22   BNP Paribas S.A.   SGD 229   166,811   165,783   —   (1,028)
Expiring 09/21/22   HSBC Bank PLC   SGD 300   217,000   217,426   426   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   SGD 281   203,000   203,655   655   —
South African Rand,
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 3,526   208,000   210,891   2,891   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 1,263   78,249   75,529   —   (2,720)
Expiring 09/21/22   Standard Chartered Bank   ZAR 29,268   1,774,984   1,750,454   —   (24,530)
Expiring 09/21/22   Standard Chartered Bank   ZAR 4,252   262,000   254,291   —   (7,709)
South Korean Won,
Expiring 09/21/22   Goldman Sachs International   KRW 327,784   250,000   251,637   1,637   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   KRW 413,349   316,000   317,325   1,325   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   KRW 181,653   140,000   139,454   —   (546)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   KRW 789,394   607,841   606,012   —   (1,829)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   KRW 435,610   337,000   334,414   —   (2,586)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   KRW 92,313   71,000   70,868   —   (132)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   KRW 47,174   35,953   36,215   262   —
Thai Baht,
Expiring 09/21/22   Citibank, N.A.   THB 15,175   427,008   413,783   —   (13,225)
Expiring 09/21/22   Citibank, N.A.   THB 1,653   45,573   45,074   —   (499)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 17,446   483,000   475,706   —   (7,294)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 11,144   309,000   303,865   —   (5,135)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 4,458   122,000   121,546   —   (454)
Expiring 09/21/22   Standard Chartered Bank   THB 11,256   310,000   306,936   —   (3,064)
Turkish Lira,
Expiring 09/21/22   UBS AG   TRY 7,143   361,890   372,392   10,502   —
              $38,331,678   $38,274,958   396,727   (453,447)
    
16
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   AUD 110    $77,073    $76,948    $125    $—
Expiring 10/19/22   The Toronto-Dominion Bank   AUD 111   75,192   77,365   —   (2,173)
Brazilian Real,
Expiring 08/02/22   Barclays Bank PLC   BRL 410   77,833   79,106   —   (1,273)
Expiring 08/02/22   BNP Paribas S.A.   BRL 605   112,000   116,831   —   (4,831)
Expiring 08/02/22   Citibank, N.A.   BRL 10,447   1,945,019   2,016,642   —   (71,623)
Expiring 08/02/22   Citibank, N.A.   BRL 1,209   222,000   233,428   —   (11,428)
Expiring 08/02/22   Citibank, N.A.   BRL 367   66,793   70,857   —   (4,064)
Expiring 08/02/22   Standard Chartered Bank   BRL 832   153,000   160,560   —   (7,560)
Expiring 08/02/22   The Toronto-Dominion Bank   BRL 12,702   2,321,200   2,451,933   —   (130,733)
Expiring 09/02/22   JPMorgan Chase Bank, N.A.   BRL 216   41,151   41,323   —   (172)
Expiring 09/02/22   Morgan Stanley & Co. International PLC   BRL 146   26,629   27,874   —   (1,245)
Canadian Dollar,
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   CAD 94   72,000   73,229   —   (1,229)
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   CAD 93   71,000   72,836   —   (1,836)
Chilean Peso,
Expiring 09/21/22   BNP Paribas S.A.   CLP 46,352   46,000   50,956   —   (4,956)
Expiring 09/21/22   BNP Paribas S.A.   CLP 19,395   22,944   21,321   1,623   —
Expiring 09/21/22   UBS AG   CLP 204,237   220,000   224,522   —   (4,522)
Expiring 09/21/22   UBS AG   CLP 145,402   151,000   159,844   —   (8,844)
Expiring 09/21/22   UBS AG   CLP 130,281   132,000   143,221   —   (11,221)
Chinese Renminbi,
Expiring 08/23/22   Goldman Sachs International   CNH 1,736   254,000   257,199   —   (3,199)
Expiring 08/23/22   HSBC Bank PLC   CNH 3,746   559,000   555,179   3,821   —
Expiring 08/23/22   HSBC Bank PLC   CNH 2,075   307,000   307,515   —   (515)
Expiring 08/23/22   HSBC Bank PLC   CNH 2,018   299,000   298,990   10   —
Expiring 08/23/22   JPMorgan Chase Bank, N.A.   CNH 24,021   3,508,052   3,559,570   —   (51,518)
Expiring 08/23/22   JPMorgan Chase Bank, N.A.   CNH 2,112   313,000   312,924   76   —
Expiring 08/23/22   JPMorgan Chase Bank, N.A.   CNH 906   135,051   134,244   807   —
Colombian Peso,
Expiring 09/21/22   Barclays Bank PLC   COP 179,143   42,855   41,396   1,459   —
17
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Colombian Peso (cont’d.),
Expiring 09/21/22   BNP Paribas S.A.   COP 259,727    $57,034    $60,017    $—    $(2,983)
Expiring 09/21/22   BNP Paribas S.A.   COP 220,273   57,199   50,900   6,299   —
Expiring 09/21/22   Citibank, N.A.   COP 3,347,805   784,948   773,599   11,349   —
Expiring 09/21/22   Citibank, N.A.   COP 932,424   199,000   215,461   —   (16,461)
Expiring 09/21/22   Citibank, N.A.   COP 365,000   84,043   84,343   —   (300)
Expiring 09/21/22   HSBC Bank PLC   COP 514,730   118,030   118,942   —   (912)
Czech Koruna,
Expiring 10/19/22   Citibank, N.A.   CZK 380   15,608   15,608   —   —
Expiring 10/19/22   HSBC Bank PLC   CZK 7,450   307,000   306,069   931   —
Egyptian Pound,
Expiring 11/30/22   Morgan Stanley & Co. International PLC   EGP 2,738   136,363   133,823   2,540   —
Euro,
Expiring 10/19/22   Barclays Bank PLC   EUR 288   297,000   296,138   862   —
Expiring 10/19/22   Barclays Bank PLC   EUR 119   120,728   122,437   —   (1,709)
Expiring 10/19/22   Deutsche Bank AG   EUR 209   211,781   214,761   —   (2,980)
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   EUR 358   367,000   367,972   —   (972)
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   EUR 165   169,869   169,891   —   (22)
Expiring 10/19/22   JPMorgan Chase Bank, N.A.   EUR 70   71,000   72,438   —   (1,438)
Expiring 10/19/22   Morgan Stanley & Co. International PLC   EUR 20   20,000   20,261   —   (261)
Expiring 10/19/22   Standard Chartered Bank   EUR 198   202,818   203,182   —   (364)
Expiring 10/19/22   The Toronto-Dominion Bank   EUR 235   236,980   241,275   —   (4,295)
Expiring 10/19/22   UBS AG   EUR 422   428,000   433,397   —   (5,397)
Hungarian Forint,
Expiring 10/19/22   Citibank, N.A.   HUF 9,566   24,086   23,704   382   —
Expiring 10/19/22   Morgan Stanley & Co. International PLC   HUF 198,139   485,326   490,966   —   (5,640)
Indian Rupee,
Expiring 09/21/22   Barclays Bank PLC   INR 8,908   113,000   111,738   1,262   —
Expiring 09/21/22   Credit Suisse International   INR 27,606   351,128   346,281   4,847   —
Indonesian Rupiah,
Expiring 09/21/22   Barclays Bank PLC   IDR 1,333,488   91,869   89,784   2,085   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   IDR 1,298,278   86,477   87,413   —   (936)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   IDR 17,772,454   1,179,522   1,196,622   —   (17,100)
18
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Indonesian Rupiah (cont’d.),
Expiring 09/21/22   Morgan Stanley & Co. International PLC   IDR 10,775,398    $745,341    $725,509    $19,832    $—
Expiring 09/21/22   Morgan Stanley & Co. International PLC   IDR 580,784   38,343   39,104   —   (761)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   IDR 410,099   27,344   27,612   —   (268)
Expiring 09/21/22   Standard Chartered Bank   IDR 6,691,517   455,000   450,541   4,459   —
Israeli Shekel,
Expiring 09/21/22   Barclays Bank PLC   ILS 2,549   768,972   752,239   16,733   —
Expiring 09/21/22   Barclays Bank PLC   ILS 980   294,000   289,308   4,692   —
Expiring 09/21/22   Citibank, N.A.   ILS 2,549   769,668   752,239   17,429   —
Expiring 09/21/22   Citibank, N.A.   ILS 1,901   553,000   561,190   —   (8,190)
Expiring 09/21/22   Citibank, N.A.   ILS 1,291   388,000   380,930   7,070   —
Expiring 09/21/22   Citibank, N.A.   ILS 1,022   297,000   301,735   —   (4,735)
Expiring 09/21/22   Citibank, N.A.   ILS 787   228,500   232,309   —   (3,809)
Expiring 09/21/22   Citibank, N.A.   ILS 782   228,500   230,717   —   (2,217)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   ILS 1,707   490,000   503,953   —   (13,953)
Malaysian Ringgit,
Expiring 09/21/22   Barclays Bank PLC   MYR 542   122,966   121,754   1,212   —
Expiring 09/21/22   Barclays Bank PLC   MYR 409   92,927   91,900   1,027   —
Expiring 09/21/22   Goldman Sachs International   MYR 172   38,705   38,723   —   (18)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   MYR 120   26,813   26,975   —   (162)
Mexican Peso,
Expiring 09/21/22   Citibank, N.A.   MXN 30,590   1,478,021   1,485,714   —   (7,693)
Expiring 09/21/22   Citibank, N.A.   MXN 2,109   100,830   102,430   —   (1,600)
Expiring 09/21/22   Goldman Sachs International   MXN 6,332   306,000   307,524   —   (1,524)
Expiring 09/21/22   Goldman Sachs International   MXN 3,776   181,000   183,402   —   (2,402)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   MXN 7,089   343,000   344,285   —   (1,285)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   MXN 3,892   185,000   189,011   —   (4,011)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   MXN 2,400   118,992   116,552   2,440   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   MXN 942   45,808   45,735   73   —
Expiring 09/21/22   Morgan Stanley & Co. International PLC   MXN 5,152   250,000   250,207   —   (207)
19
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Mexican Peso (cont’d.),
Expiring 09/21/22   Standard Chartered Bank   MXN 1,531    $73,000    $74,378    $—    $(1,378)
Expiring 09/21/22   The Toronto-Dominion Bank   MXN 1,801   90,126   87,460   2,666   —
New Taiwanese Dollar,
Expiring 09/21/22   Citibank, N.A.   TWD 18,565   633,739   619,919   13,820   —
Expiring 09/21/22   Citibank, N.A.   TWD 12,254   417,000   409,160   7,840   —
Expiring 09/21/22   Goldman Sachs International   TWD 21,498   734,749   717,843   16,906   —
Expiring 09/21/22   HSBC Bank PLC   TWD 23,782   812,860   794,102   18,758   —
Expiring 09/21/22   HSBC Bank PLC   TWD 9,967   342,000   332,806   9,194   —
Expiring 09/21/22   HSBC Bank PLC   TWD 3,177   108,000   106,088   1,912   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   TWD 18,806   642,000   627,961   14,039   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   TWD 16,027   543,000   535,164   7,836   —
Peruvian Nuevo Sol,
Expiring 09/21/22   Barclays Bank PLC   PEN 438   111,281   110,909   372   —
Expiring 09/21/22   Barclays Bank PLC   PEN 214   56,393   54,173   2,220   —
Expiring 09/21/22   Citibank, N.A.   PEN 1,289   331,587   326,131   5,456   —
Expiring 09/21/22   Citibank, N.A.   PEN 142   35,900   35,864   36   —
Philippine Peso,
Expiring 09/21/22   Citibank, N.A.   PHP 22,943   404,000   413,136   —   (9,136)
Expiring 09/21/22   Citibank, N.A.   PHP 21,631   391,000   389,513   1,487   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   PHP 12,087   214,734   217,646   —   (2,912)
Expiring 09/21/22   Morgan Stanley & Co. International PLC   PHP 35,980   647,583   647,884   —   (301)
Expiring 09/21/22   Standard Chartered Bank   PHP 13,949   249,000   251,174   —   (2,174)
Expiring 09/21/22   Standard Chartered Bank   PHP 9,087   161,266   163,635   —   (2,369)
Polish Zloty,
Expiring 10/19/22   BNP Paribas S.A.   PLN 1,424   296,375   302,871   —   (6,496)
Expiring 10/19/22   Citibank, N.A.   PLN 161   34,115   34,263   —   (148)
Singapore Dollar,
Expiring 09/21/22   Citibank, N.A.   SGD 255   182,341   184,579   —   (2,238)
South African Rand,
Expiring 09/21/22   Barclays Bank PLC   ZAR 1,410   90,578   84,332   6,246   —
Expiring 09/21/22   Citibank, N.A.   ZAR 321   18,973   19,218   —   (245)
Expiring 09/21/22   Deutsche Bank AG   ZAR 4,699   287,000   281,024   5,976   —
Expiring 09/21/22   HSBC Bank PLC   ZAR 18,977   1,143,688   1,134,996   8,692   —
Expiring 09/21/22   HSBC Bank PLC   ZAR 3,542   209,000   211,824   —   (2,824)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 4,809   281,000   287,624   —   (6,624)
20
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
South African Rand (cont’d.),
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 2,343    $136,429    $140,120    $—    $(3,691)
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 1,107   67,000   66,178   822   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   ZAR 488   29,520   29,164   356   —
Expiring 09/21/22   Morgan Stanley & Co. International PLC   ZAR 702   44,086   41,957   2,129   —
Expiring 09/21/22   Standard Chartered Bank   ZAR 37,446   2,389,667   2,239,589   150,078   —
South Korean Won,
Expiring 09/21/22   BNP Paribas S.A.   KRW 750,777   604,204   576,367   27,837   —
Expiring 09/21/22   Goldman Sachs International   KRW 612,038   475,000   469,857   5,143   —
Expiring 09/21/22   HSBC Bank PLC   KRW 458,834   355,000   352,243   2,757   —
Expiring 09/21/22   Morgan Stanley & Co. International PLC   KRW 665,310   513,000   510,753   2,247   —
Thai Baht,
Expiring 09/21/22   Citibank, N.A.   THB 11,183   306,000   304,928   1,072   —
Expiring 09/21/22   Goldman Sachs International   THB 10,110   296,000   275,673   20,327   —
Expiring 09/21/22   Goldman Sachs International   THB 9,128   266,092   248,900   17,192   —
Expiring 09/21/22   HSBC Bank PLC   THB 16,517   474,000   450,394   23,606   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 20,414   576,000   556,639   19,361   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 18,834   536,000   513,552   22,448   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 12,210   355,908   332,933   22,975   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 11,721   326,000   319,603   6,397   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 11,208   306,000   305,608   392   —
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   THB 2,422   70,965   66,032   4,933   —
Expiring 09/21/22   Morgan Stanley & Co. International PLC   THB 1,079   31,351   29,410   1,941   —
Turkish Lira,
Expiring 09/21/22   Barclays Bank PLC   TRY 818   44,000   42,652   1,348   —
Expiring 09/21/22   HSBC Bank PLC   TRY 2,177   120,805   113,508   7,297   —
Expiring 09/21/22   HSBC Bank PLC   TRY 812   42,468   42,359   109   —
21
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at July 31, 2022 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Turkish Lira (cont’d.),
Expiring 09/21/22   JPMorgan Chase Bank, N.A.   TRY 639    $35,744    $33,333    $2,411    $—
Expiring 09/21/22   UBS AG   TRY 1,280   72,105   66,738   5,367   —
              $44,055,963   $43,948,600   585,446   (478,083)
                      $982,173   $(931,530)
Credit default swap agreements outstanding at July 31, 2022:
Reference
Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Value at
Trade Date 		  Value at
July 31,
2022 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):
CDX.EM.37.V1 06/20/27   1.000%(Q)     1,380   $147,431   $128,440   $(18,991)
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
22
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.
Interest rate swap agreements outstanding at July 31, 2022:
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
July 31,
2022 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
BRL 3,324   01/02/23   6.450%(T)   1 Day BROIS(2)(T)    $—    $(33,113)    $(33,113)
BRL 1,374   01/02/24   4.590%(T)   1 Day BROIS(2)(T)   —   (38,901)   (38,901)
BRL 5,130   01/02/24   12.990%(T)   1 Day BROIS(2)(T)   —   (4,574)   (4,574)
BRL 8,143   01/02/24   13.000%(T)   1 Day BROIS(2)(T)   —   (7,073)   (7,073)
BRL 5,472   01/02/24   13.940%(T)   1 Day BROIS(2)(T)   —   8,197   8,197
BRL 1,478   01/02/25   5.840%(T)   1 Day BROIS(2)(T)   —   (42,905)   (42,905)
BRL 2,354   01/02/25   7.950%(T)   1 Day BROIS(2)(T)   —   (53,160)   (53,160)
BRL 2,540   01/02/25   8.140%(T)   1 Day BROIS(1)(T)   —   51,307   51,307
BRL 3,354   01/02/25   12.050%(T)   1 Day BROIS(2)(T)   —   (9,721)   (9,721)
BRL 2,912   01/02/25   12.830%(T)   1 Day BROIS(1)(T)   —   (2,298)   (2,298)
BRL 668   01/04/27   6.325%(T)   1 Day BROIS(2)(T)   —   (31,814)   (31,814)
BRL 1,056   01/04/27   6.529%(T)   1 Day BROIS(2)(T)   —   (47,822)   (47,822)
BRL 1,885   01/04/27   7.745%(T)   1 Day BROIS(1)(T)   —   73,355   73,355
BRL 744   01/04/27   9.300%(T)   1 Day BROIS(1)(T)   —   20,004   20,004
BRL 1,788   01/04/27   10.250%(T)   1 Day BROIS(1)(T)   —   32,733   32,733
BRL 5,652   01/04/27   11.085%(T)   1 Day BROIS(1)(T)   1,437   69,519   68,082
BRL 1,948   01/04/27   11.680%(T)   1 Day BROIS(2)(T)   1,683   (14,024)   (15,707)
BRL 1,688   01/04/27   11.755%(T)   1 Day BROIS(2)(T)   —   (8,064)   (8,064)
BRL 3,244   01/04/27   12.000%(T)   1 Day BROIS(1)(T)   —   14,055   14,055
BRL 1,601   01/04/27   12.200%(T)   1 Day BROIS(2)(T)   —   (754)   (754)
BRL 1,705   01/04/27   12.360%(T)   1 Day BROIS(1)(T)   —   2,192   2,192
BRL 5,906   01/04/27   13.105%(T)   1 Day BROIS(2)(T)   7,247   28,823   21,576
BRL 1,725   01/04/27   13.270%(T)   1 Day BROIS(1)(T)   —   (10,742)   (10,742)
CLP 734,700   06/29/24   8.250%(S)   1 Day CLOIS(1)(S)   —   16,939   16,939
CLP 511,600   09/21/27   6.660%(S)   1 Day CLOIS(1)(S)   —   5,794   5,794
CLP 327,760   09/21/27   7.462%(S)   1 Day CLOIS(1)(S)   —   (8,434)   (8,434)
CNH 3,000   07/28/27   2.438%(Q)   7 Day China Fixing Repo Rates(2)(Q)   —   224   224
COP 950,000   12/12/23   5.530%(Q)   1 Day COOIS(2)(Q)   —   (12,726)   (12,726)
COP 1,382,980   06/15/27   8.230%(Q)   1 Day COOIS(2)(Q)   (6,579)   (10,209)   (3,630)
COP 3,271,000   09/21/27   9.200%(Q)   1 Day COOIS(1)(Q)   —   (3,942)   (3,942)
COP 211,800   11/09/31   6.650%(Q)   1 Day COOIS(2)(Q)   —   (6,989)   (6,989)
CZK 6,507   06/15/31   1.730%(A)   6 Month PRIBOR(2)(S)   —   (56,498)   (56,498)
23
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2022 (continued):
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
July 31,
2022 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
HUF 385,420   06/27/24   9.400%(A)   3 Month BUBOR(2)(Q)    $—    $(22,950)    $(22,950)
HUF 157,860   09/03/26   2.660%(A)   6 Month BUBOR(1)(S)   5,523   98,807   93,284
HUF 150,000   03/17/27   6.250%(A)   6 Month BUBOR(1)(S)   —   51,596   51,596
KRW 600,000   06/15/27   2.410%(Q)   3 Month KWCDC(1)(Q)   18,212   10,673   (7,539)
KRW 1,196,507   09/21/27   3.087%(Q)   3 Month KWCDC(2)(Q)   1,474   6,322   4,848
KRW 600,000   09/21/27   3.639%(Q)   3 Month KWCDC(2)(Q)   1,471   15,194   13,723
MXN 12,530   07/24/24   8.865%(M)   28 Day Mexican Interbank Rate(1)(M)   —   (2,892)   (2,892)
MXN 7,470   09/18/24   9.735%(M)   28 Day Mexican Interbank Rate(1)(M)   —   (6,334)   (6,334)
MXN 11,330   09/18/24   9.773%(M)   28 Day Mexican Interbank Rate(1)(M)   —   (9,995)   (9,995)
MXN 15,280   09/18/24   9.780%(M)   28 Day Mexican Interbank Rate(1)(M)   1,380   (13,575)   (14,955)
MXN 14,446   03/11/26   4.845%(M)   28 Day Mexican Interbank Rate(2)(M)   (11,138)   (80,285)   (69,147)
MXN 124   06/09/27   8.543%(M)   28 Day Mexican Interbank Rate(1)(M)   71   (83)   (154)
MXN 11,640   06/09/27   8.802%(M)   28 Day Mexican Interbank Rate(2)(M)   —   13,874   13,874
MXN 4,580   09/15/27   8.338%(M)   28 Day Mexican Interbank Rate(2)(M)   —   1,380   1,380
MXN 2,551   09/15/27   8.462%(M)   28 Day Mexican Interbank Rate(1)(M)   2,847   (1,399)   (4,246)
MXN 12,200   09/15/27   8.806%(M)   28 Day Mexican Interbank Rate(2)(M)   —   15,088   15,088
MXN 2,110   09/15/27   8.880%(M)   28 Day Mexican Interbank Rate(2)(M)   —   2,922   2,922
MXN 8,176   09/15/27   8.987%(M)   28 Day Mexican Interbank Rate(1)(M)   426   (13,067)   (13,493)
MXN 5,346   01/28/30   6.640%(M)   28 Day Mexican Interbank Rate(2)(M)   (31,571)   (22,512)   9,059
MXN 4,450   07/24/31   6.780%(M)   28 Day Mexican Interbank Rate(2)(M)   —   (19,786)   (19,786)
MXN 11,970   09/08/32   8.856%(M)   28 Day Mexican Interbank Rate(2)(M)   2,721   26,072   23,351
PLN 2,450   10/05/23   1.350%(A)   6 Month WIBOR(1)(S)   —   35,443   35,443
PLN 2,450   10/05/23   1.375%(A)   6 Month WIBOR(1)(S)   —   35,192   35,192
PLN 2,360   12/15/23   2.400%(A)   6 Month WIBOR(1)(S)   —   27,843   27,843
24
PGIM Emerging Markets Debt Local Currency Fund
Schedule of Investments as of July 31, 2022 (unaudited) (continued)
Interest rate swap agreements outstanding at July 31, 2022 (continued):
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
July 31,
2022 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
PLN 2,700   07/24/24   1.798%(A)   6 Month WIBOR(2)(S)    $—    $(53,868)    $(53,868)
PLN 930   02/01/25   4.300%(A)   6 Month WIBOR(1)(S)   —   9,560   9,560
PLN 2,730   09/08/25   0.637%(A)   6 Month WIBOR(2)(S)   (2,315)   (94,746)   (92,431)
PLN 4,650   04/07/27   5.405%(A)   6 Month WIBOR(1)(S)   —   8,333   8,333
PLN 18   06/15/27   4.970%(A)   6 Month WIBOR(1)(S)   244   117   (127)
PLN 1,670   08/02/27   5.680%(A)   6 Month WIBOR(2)(S)   —   450   450
PLN 6,675   09/21/27   6.632%(A)   6 Month WIBOR(1)(S)   757   (63,213)   (63,970)
PLN 700   06/17/31   1.745%(A)   6 Month WIBOR(1)(S)   —   37,217   37,217
PLN 271   05/10/32   6.410%(A)   6 Month WIBOR(1)(S)   —   (4,847)   (4,847)
ZAR 5,789   08/21/25   4.978%(Q)   3 Month JIBAR(2)(Q)   (9,656)   (23,991)   (14,335)
ZAR 2,808   03/16/27   6.960%(Q)   3 Month JIBAR(1)(Q)   5,758   5,144   (614)
ZAR 35,922   09/21/27   7.490%(Q)   3 Month JIBAR(2)(Q)   (51,186)   (46,751)   4,435
ZAR 19,350   09/21/27   8.280%(Q)   3 Month JIBAR(1)(Q)   1,025   (12,599)   (13,624)
ZAR 3,244   04/13/31   7.530%(Q)   3 Month JIBAR(2)(Q)   (42)   (13,175)   (13,133)
ZAR 6,680   07/13/31   7.415%(Q)   3 Month JIBAR(1)(Q)   93   31,445   31,352
ZAR 6,610   09/27/31   7.493%(Q)   3 Month JIBAR(1)(Q)   1,662   29,823   28,161
ZAR 4,635   01/04/32   7.595%(Q)   3 Month JIBAR(1)(Q)   5,064   20,095   15,031
                    $(53,392)   $(104,099)   $(50,707)
    
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Fair
Value 		  Upfront
Premiums
Paid(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Interest Rate Swap Agreements:
MYR 2,300   07/21/27   3.640%(Q)   3 Month KLIBOR(2)(Q)    $3,628    $(14)    $3,642   Goldman Sachs International
MYR 3,000   07/29/27   3.500%(Q)   3 Month KLIBOR(2)(Q)   117   (15)   132   JPMorgan Chase Bank, N.A.
                  $3,745   $(29)   $3,774    
    
(1) The Fund pays the fixed rate and receives the floating rate.
(2) The Fund pays the floating rate and receives the fixed rate.
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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