PGIM GOVERNMENT MONEY MARKET FUND | |||
Purchase
A: PBMXX |
Exchange
A: MJAXX |
Exchange
C: MJCXX |
Purchase
Z: PMZXX |
The Securities and Exchange Commission
(“SEC”) has not approved or disapproved the
Fund's shares, nor has the SEC determined
that this prospectus is complete or accurate.
It is a criminal offense to state otherwise. Mutual funds are distributed by Prudential
Investment Management Services LLC
(“PIMS”), member SIPC. PGIM Fixed Income
is a unit of PGIM, Inc. (“PGIM”), a registered
investment adviser. PIMS and PGIM are
Prudential Financial companies. © 2022
Prudential Financial, Inc. and its related
entities. The Prudential logo and the Rock
symbol are service marks of Prudential
Financial, Inc. and its related entities,
registered in many jurisdictions worldwide. |
|
|
Class A |
Class C |
Class Z |
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) |
|
|
|
Maximum deferred sales charge (load) (as a percentage of the lower of the original purchase price or the net asset value at redemption) |
|
|
|
Maximum sales charge (load) imposed on reinvested dividends and other distributions |
|
|
|
Redemption fee |
|
|
|
Exchange fee |
|
|
|
Maximum account fee (accounts under $10,000) |
$ |
$ |
|
|
Class A |
Class C |
Class Z |
Management fee |
|
|
|
Distribution and service (12b-1) fees |
|
|
|
Other expenses |
|
|
|
Total annual Fund operating expenses |
|
|
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class A |
$ |
$ |
$ |
$ |
Class C |
$ |
$ |
$ |
$ |
Class Z |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
Return Before Taxes |
One Year |
Five Years |
Ten Years |
Class A shares |
|
|
|
Class C shares |
|
|
|
Class Z shares |
|
|
|
| |
Class A shares |
|
Class C shares |
|
Class Z shares |
|
Investment Manager |
Subadviser |
PGIM Investments LLC |
PGIM Fixed Income |
|
Class A |
Class C |
Class Z |
Minimum initial investment |
$1,000 |
$1,000 |
None |
Minimum subsequent investment |
$100 |
$100 |
None |
Principal Strategies: Investment Limits |
◾Cash, government securities, and/or repurchase agreements that are fully collateralized with cash or government securities:
At least 99.5% of total assets; Up to 100% of investable assets ◾Government securities and/or repurchase agreements that are collateralized by government securities: At least 80% of its
net assets |
Certain Non-Principal Strategies: Investment Limits |
◾When-issued and delayed delivery securities: Up to 15% of investable assets ◾Illiquid Securities: Up to 5% of total assets |
Expected Distribution Schedule* |
|
Net Investment Income |
Monthly |
Short-Term Capital Gains |
Monthly |
Long-Term Capital Gains |
Annually |
Share Class |
Eligibility |
Class A* |
Individual investors |
Class C* |
Certain types of exchanges from other funds and certain other investors |
Class Z* |
Certain group retirement plans, institutional investors and certain other investors |
|
Class A* |
Class C* |
Class Z* |
Minimum purchase amount |
$1,000 |
$1,000 |
None |
Minimum amount for subsequent purchases |
$100 |
$100 |
None |
Maximum initial sales charge |
None |
None |
None |
Contingent Deferred Sales Charge (CDSC) (as a percentage of the
lower of the original purchase price or the net asset value at
redemption) |
None |
None |
None |
Annual distribution and service (12b-1) fees (shown as a
percentage of average daily net assets) |
0.125% |
None |
None |
|
Class A |
Class C |
Class Z |
Class R |
Existing Investors (Group Retirement Plans,
IRAs, and all other investors) |
No Change |
No Change |
No Change |
No Change |
New Group Retirement Plans |
Closed to group retirement plans wishing to add the share classes as new additions to plan menus on June 1, 2018,
subject to certain exceptions below |
|
Class A |
Class C |
Class Z |
Class R |
New IRAs |
No Change |
No Change |
No Change |
Closed to all new
investors on June 1, 2018,
subject to certain
exceptions below |
All Other New Investors |
No Change |
No Change |
No Change |
Class A Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Net investment income (loss) and net realized gain (loss) on investment transactions |
-(b) |
-(b) |
0.01 |
0.02 |
0.01 |
Dividends to shareholders |
-(b) |
-(b) |
(0.01) |
(0.02) |
(0.01) |
Net asset value, end of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Total Return(c): |
0.20% |
0.01% |
0.76% |
1.69% |
0.82% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$505,406 |
$414,625 |
$442,260 |
$348,427 |
$381,073 |
Average net assets (000) |
$443,402 |
$475,166 |
$407,195 |
$390,207 |
$440,589 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement |
0.23% |
0.09% |
0.49% |
0.64% |
0.61% |
Expenses before waivers and/or expense reimbursement |
0.63% |
0.63% |
0.64% |
0.64% |
0.61% |
Net investment income (loss) |
0.14% |
0.01% |
0.70% |
1.67% |
0.81% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
Amount rounds to zero. |
(c) |
Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and
distributions, if any. Total returns may reflect adjustments to conform to GAAP. |
Class C Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Net investment income (loss) and net realized gain (loss) on investment transactions |
-(b) |
-(b) |
0.01 |
0.02 |
0.01 |
Dividends to shareholders |
-(b) |
-(b) |
(0.01) |
(0.02) |
(0.01) |
Net asset value, end of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Total Return(c): |
0.21% |
0.05% |
0.71% |
1.69% |
0.84% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$12,793 |
$10,242 |
$14,538 |
$7,931 |
$9,908 |
Average net assets (000) |
$10,254 |
$12,853 |
$10,815 |
$10,913 |
$11,277 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement |
0.25% |
0.06% |
0.48% |
0.65% |
0.60% |
Expenses before waivers and/or expense reimbursement |
0.64% |
0.59% |
0.68% |
0.65% |
0.60% |
Net investment income (loss) |
0.17% |
0.04% |
0.52% |
1.69% |
0.81% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
Amount rounds to zero. |
(c) |
Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and
distributions, if any. Total returns may reflect adjustments to conform to GAAP. |
Class Z Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Net investment income (loss) and net realized gain (loss) on investment transactions |
-(b) |
-(b) |
0.01 |
0.02 |
0.01 |
Dividends to shareholders |
-(b) |
-(b) |
(0.01) |
(0.02) |
(0.01) |
Net asset value, end of Year |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
$1.00 |
Total Return(c): |
0.26% |
0.01% |
0.91% |
1.91% |
1.01% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$86,089 |
$82,110 |
$90,399 |
$76,956 |
$84,915 |
Average net assets (000) |
$75,926 |
$86,432 |
$83,610 |
$84,238 |
$85,131 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement |
0.18% |
0.09% |
0.36% |
0.43% |
0.42% |
Expenses before waivers and/or expense reimbursement |
0.42% |
0.43% |
0.43% |
0.43% |
0.42% |
Net investment income (loss) |
0.20% |
0.01% |
0.84% |
1.89% |
1.00% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
Amount rounds to zero. |
(c) |
Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and
distributions, if any. Total returns may reflect adjustments to conform to GAAP. |
FOR MORE INFORMATION
Please read this Prospectus before you invest in the Fund and keep it for future reference.
For information or shareholder questions contact: | |
◾MAIL
Prudential Mutual Fund Services LLC
PO Box 9658
Providence, RI 02940 ◾WEBSITE
www.pgim.com/investments |
◾TELEPHONE
(800) 225-1852
(973) 367-3529
(from outside the U.S.) |
◾E-DELIVERY
To receive your mutual fund documents on-line, go to pgim.com/investments/resource/edelivery and enroll.
Instead of receiving printed documents by mail, you will receive notification via email when new materials are
available. You can cancel your enrollment or change your email address at any time by visiting the website address
above. |
The Annual and Semi-Annual Reports and the SAI contain additional information about the Fund. Shareholders may
obtain free copies of the SAI, Annual Report and Semi-Annual Report as well as other information about the Fund
and may make other shareholder inquiries through the telephone number, address and website listed above. | |
◾STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
(incorporated by reference into this Prospectus) ◾SEMI-ANNUAL REPORT |
◾ANNUAL REPORT
(contains a discussion of the market conditions and
investment strategies that significantly affected the
Fund's performance during the last fiscal year) |
You can also obtain copies of Fund documents, including the SAI, from the SEC as follows (the SEC charges a fee to
copy documents): | |
◾ELECTRONIC REQUEST
publicinfo@sec.gov |
◾VIA THE INTERNET
on the EDGAR Database at www.sec.gov |
PGIM Government Money Market Fund | ||||
|
|
Class A |
Class C |
Class Z |
Purchase |
NASDAQ |
PBMXX |
N/A |
PMZXX |
|
CUSIP |
74440W409 |
74440W300 |
74440W805 |
Exchange |
NASDAQ |
MJAXX |
MJCXX |
N/A |
|
CUSIP |
74440W102 |
74440W300 |
N/A |
PGIM GOVERNMENT MONEY MARKET FUND | ||||||||
Purchase
A:PBMXX |
|
Exchange
A:MJAXX |
|
Exchange
C:MJCXX |
|
Purchase
Z:PMZXX |
|
|
Term |
Definition |
1933 Act |
Securities Act of 1933, as amended |
1934 Act |
Securities Exchange Act of 1934, as amended |
1940 Act |
Investment Company Act of 1940, as amended |
1940 Act Laws, Interpretations and Exemptions |
Exemptive order, SEC release, no-action letter or similar relief or interpretations, collectively |
ADR |
American Depositary Receipt |
ADS |
American Depositary Share |
Board |
Fund’s Board of Directors or Trustees |
Board Member |
A trustee or director of the Fund’s Board |
CEA |
Commodity Exchange Act, as amended |
CFTC |
U.S. Commodity Futures Trading Commission |
Code |
Internal Revenue Code of 1986, as amended |
CMO |
Collateralized Mortgage Obligation |
ETF |
Exchange-Traded Fund |
EDR |
European Depositary Receipt |
Exchange |
NYSE Arca, Inc. |
Fannie Mae |
Federal National Mortgage Association |
FDIC |
Federal Deposit Insurance Corporation |
Fitch |
Fitch Ratings, Inc. |
Freddie Mac |
Federal Home Loan Mortgage Corporation |
GDR |
Global Depositary Receipt |
Ginnie Mae |
Government National Mortgage Association |
IPO |
Initial Public Offering |
IRS |
Internal Revenue Service |
LIBOR |
London Interbank Offered Rate |
Manager or PGIM Investments |
PGIM Investments LLC |
Moody’s |
Moody’s Investors Service, Inc. |
NASDAQ |
National Association of Securities Dealers Automated Quotations |
NAV |
Net Asset Value |
NRSRO |
Nationally Recognized Statistical Rating Organization |
NYSE |
New York Stock Exchange |
OTC |
Over the Counter |
Prudential |
Prudential Financial, Inc. |
PMFS |
Prudential Mutual Fund Services LLC |
QPTP |
“Qualified publicly traded partnership” as the term is used in the Internal Revenue Code of 1986, as amended |
REIT |
Real Estate Investment Trust |
RIC |
Regulated Investment Company, as the term is used in the Internal Revenue Code of 1986, as amended |
S&P |
S&P Global Ratings |
Term |
Definition |
SEC |
U.S. Securities and Exchange Commission |
World Bank |
International Bank for Reconstruction and Development |
Independent Board Members |
|
| |
Name
Year of Birth
Position(s)
Portfolios Overseen |
Principal Occupation(s)
During Past Five Years |
Other Directorships
Held During
Past Five Years |
Length of
Board Service |
Ellen S. Alberding
1958
Board Member
Portfolios Overseen: 97 |
President and Board Member, The Joyce
Foundation (charitable foundation) (since
2002); formerly Vice Chair, City Colleges of
Chicago (community college system)
(2011-2015); Trustee, National Park Foundation
(charitable foundation for national park system)
(2009-2018); Trustee, Economic Club of
Chicago (2009-2016); Trustee, Loyola University
(since 2018). |
None. |
Since September 2013 |
Kevin J. Bannon
1952
Board Member
Portfolios Overseen: 97 |
Retired; formerly Managing Director (April
2008-May 2015) and Chief Investment Officer
(October 2008-November 2013) of Highmount
Capital LLC (registered investment adviser);
formerly Executive Vice President and Chief
Investment Officer (April 1993-August 2007) of
Bank of New York Company; President (May
2003-May 2007) of BNY Hamilton Family of
Mutual Funds. |
Director of Urstadt Biddle Properties (equity real
estate investment trust) (since September
2008). |
Since July 2008 |
Linda W. Bynoe
1952
Board Member
Portfolios Overseen: 94 |
President and Chief Executive Officer (since
March 1995) and formerly Chief Operating
Officer (December 1989-February 1995) of
Telemat Limited LLC (formerly Telemat Ltd)
(management consulting); formerly Vice
President (January 1985-June 1989) at Morgan
Stanley & Co. (broker-dealer). |
Trustee of Equity Residential (residential real
estate) (since December 2009); Director of
Northern Trust Corporation (financial services)
(since April 2006); formerly Director of Anixter
International, Inc. (communication products
distributor) (January 2006-June 2020). |
Since March 2005 |
Barry H. Evans
1960
Board Member
Portfolios Overseen: 96 |
Retired; formerly President (2005-2016), Global
Chief Operating Officer (2014-2016), Chief
Investment Officer - Global Head of Fixed
Income (1998-2014), and various portfolio
manager roles (1986-2006), Manulife Asset
Management (asset management). |
Formerly Director, Manulife Trust Company
(2011-2018); formerly Director, Manulife Asset
Management Limited (2015-2017); formerly
Chairman of the Board of Directors of Manulife
Asset Management U.S. (2005-2016); formerly
Chairman of the Board, Declaration Investment
Management and Research (2008-2016). |
Since September 2017 |
Keith F. Hartstein
1956
Board Member &
Independent Chair
Portfolios Overseen: 97 |
Retired; Member (since November 2014) of the
Governing Council of the Independent Directors
Council (IDC) (organization of independent
mutual fund directors); formerly Executive
Committee of the IDC Board of Governors
(October 2019-December 2021); formerly
President and Chief Executive Officer
(2005-2012), Senior Vice President
(2004-2005), Senior Vice President of Sales and
Marketing (1997-2004), and various executive
management positions (1990-1997), John
Hancock Funds, LLC (asset management);
Chairman, Investment Company Institute’s
Sales Force Marketing Committee (2003-2008). |
None. |
Since September 2013 |
Independent Board Members |
|
| |
Name
Year of Birth
Position(s)
Portfolios Overseen |
Principal Occupation(s)
During Past Five Years |
Other Directorships
Held During
Past Five Years |
Length of
Board Service |
Laurie Simon Hodrick
1962
Board Member
Portfolios Overseen: 93 |
A. Barton Hepburn Professor Emerita of
Economics in the Faculty of Business, Columbia
Business School (since 2018); Visiting Fellow at
the Hoover Institution, Stanford University
(since 2015); Sole Member, ReidCourt LLC
(since 2008) (a consulting firm); formerly
Visiting Professor of Law, Stanford Law School
(2015-2021); formerly A. Barton Hepburn
Professor of Economics in the Faculty of
Business, Columbia Business School
(1996-2017); formerly Managing Director,
Global Head of Alternative Investment
Strategies, Deutsche Bank (2006-2008). |
Independent Director, Andela (since January
2022) (global talent network); Independent
Director, Roku (since December 2020)
(communication services); formerly Independent
Director, Synnex Corporation (2019-2021)
(information technology); formerly Independent
Director, Kabbage, Inc. (2018-2020) (financial
services); formerly Independent Director,
Corporate Capital Trust (2017-2018) (a
business development company). |
Since September 2017 |
Brian K. Reid
1961
Board Member
Portfolios Overseen: 96 |
Retired; formerly Chief Economist for the
Investment Company Institute (ICI)
(2005-2017); formerly Senior Economist and
Director of Industry and Financial Analysis at
the ICI (1998-2004); formerly Senior Economist,
Industry and Financial Analysis at the ICI
(1996-1998); formerly Staff Economist at the
Federal Reserve Board (1989-1996); Director,
ICI Mutual Insurance Company (2012-2017). |
None. |
Since March 2018 |
Grace C. Torres
1959
Board Member
Portfolios Overseen: 96 |
Retired; formerly Treasurer and Principal
Financial and Accounting Officer of the PGIM
Funds, Target Funds, Advanced Series Trust,
Prudential Variable Contract Accounts and The
Prudential Series Fund (1998-June 2014);
Assistant Treasurer (March 1999-June 2014)
and Senior Vice President (September
1999-June 2014) of PGIM Investments LLC;
Assistant Treasurer (May 2003-June 2014) and
Vice President (June 2005-June 2014) of AST
Investment Services, Inc.; Senior Vice President
and Assistant Treasurer (May 2003-June 2014)
of Prudential Annuities Advisory Services, Inc. |
Director (since January 2018) of OceanFirst
Financial Corp. and OceanFirst Bank; formerly
Director (July 2015-January 2018) of Sun
Bancorp, Inc. N.A. and Sun National Bank. |
Since November 2014 |
Interested Board Members | |||
Name
Year of Birth
Position(s)
Portfolios Overseen |
Principal Occupation(s)
During Past Five Years |
Other Directorships
Held During
Past Five Years |
Length of
Board Service |
Stuart S. Parker
1962
Board Member &
President
Portfolios Overseen: 96 |
President, Chief Executive Officer, Chief
Operating Officer and Officer in Charge of PGIM
Investments LLC (formerly known as Prudential
Investments LLC) (since January 2012);
President and PEO (since March 2022) of the
PGIM Private Real Estate Fund, Inc.; formerly
Executive Vice President of Jennison Associates
LLC and Head of Retail Distribution of PGIM
Investments LLC (June 2005-December 2011);
Investment Company Institute - Board of
Governors (since May 2012). |
None. |
Since January 2012 |
Interested Board Members | |||
Name
Year of Birth
Position(s)
Portfolios Overseen |
Principal Occupation(s)
During Past Five Years |
Other Directorships
Held During
Past Five Years |
Length of
Board Service |
Scott E. Benjamin
1973
Board Member & Vice
President
Portfolios Overseen: 97 |
Executive Vice President (since May 2009) of
PGIM Investments LLC; Vice President (since
June 2012) of Prudential Investment
Management Services LLC; Executive Vice
President (since September 2009) of AST
Investment Services, Inc.; Senior Vice President
of Product Development and Marketing, PGIM
Investments (since February 2006); Vice
President (since March 2022) of the PGIM
Private Real Estate Fund, Inc.; formerly Vice
President of Product Development and Product
Management, PGIM Investments LLC
(2003-2006). |
None. |
Since March 2010 |
Fund Officers(a)
|
|
|
Name
Year of Birth
Fund Position |
Principal Occupation(s) During Past Five Years |
Length of
Service as Fund Officer |
Claudia DiGiacomo
1974
Chief Legal Officer |
Chief Legal Officer (since July 2022) of the PGIM Private Real Estate Fund, Inc.; Chief Legal Officer, Executive
Vice President and Secretary of PGIM Investments LLC (since August 2020); Chief Legal Officer of Prudential
Mutual Fund Services LLC (since August 2020); Chief Legal Officer of PIFM Holdco, LLC (since August 2020);
Vice President and Corporate Counsel (since January 2005) of Prudential; and Corporate Counsel of AST
Investment Services, Inc. (since August 2020); formerly Vice President and Assistant Secretary of PGIM
Investments LLC (2005-2020); formerly Associate at Sidley Austin Brown & Wood LLP (1999-2004). |
Since December 2005 |
Isabelle Sajous
1976
Chief Compliance Officer |
Chief Compliance Officer (since April 2022) of PGIM Investments LLC, the PGIM Funds, Target Funds, PGIM ETF
Trust, PGIM Global High Yield Fund, Inc., PGIM High Yield Bond Fund, Inc., PGIM Short Duration High Yield
Opportunities Fund, Advanced Series Trust, The Prudential Series Fund and Prudential’s Gibraltar Fund, Inc.;
Chief Compliance Officer (since March 2022) of the PGIM Private Real Estate Fund, Inc.; Vice President,
Compliance of PGIM Investments LLC (since December 2020); formerly Director, Compliance (July
2018-December 2020) of Credit Suisse Asset Management LLC; and Vice President, Associate General Counsel
& Deputy Chief Compliance Officer of Cramer Rosenthal McGlynn, LLC (August 2014-July 2018). |
Since April 2022 |
Andrew R. French
1962
Secretary |
Vice President (since December 2018) of PGIM Investments LLC; Secretary (since March 2022) of the PGIM
Private Real Estate Fund, Inc.; formerly Vice President and Corporate Counsel (2010-2018) of Prudential;
formerly Director and Corporate Counsel (2006-2010) of Prudential; Vice President and Assistant Secretary
(since January 2007) of PGIM Investments LLC; Vice President and Assistant Secretary (since January 2007) of
Prudential Mutual Fund Services LLC. |
Since October 2006 |
Melissa Gonzalez
1980
Assistant Secretary |
Vice President and Corporate Counsel (since September 2018) of Prudential; Vice President and Assistant
Secretary (since August 2020) of PGIM Investments LLC; Assistant Secretary (since March 2022) of the PGIM
Private Real Estate Fund, Inc.; formerly Director and Corporate Counsel (March 2014-September 2018) of
Prudential. |
Since March 2020 |
Patrick E. McGuinness
1986
Assistant Secretary |
Vice President and Assistant Secretary (since August 2020) of PGIM Investments LLC; Director and Corporate
Counsel (since February 2017) of Prudential; Assistant Secretary (since March 2022) of the PGIM Private Real
Estate Fund, Inc. |
Since June 2020 |
Debra Rubano
1975
Assistant Secretary |
Vice President and Corporate Counsel (since November 2020) of Prudential; Assistant Secretary (since March
2022) of the PGIM Private Real Estate Fund, Inc; formerly Director and Senior Counsel of Allianz Global
Investors U.S. Holdings LLC (2010-2020) and Assistant Secretary of numerous funds in the Allianz fund
complex (2015-2020). |
Since December 2020 |
Kelly A. Coyne
1968
Assistant Secretary |
Director, Investment Operations of Prudential Mutual Fund Services LLC (since 2010); Assistant Secretary
(since March 2022) of the PGIM Private Real Estate Fund, Inc. |
Since March 2015 |
Christian J. Kelly
1975
Treasurer and Principal Financial
and Accounting Officer |
Vice President, Head of Fund Administration of PGIM Investments LLC (since November 2018); Principal
Financial Officer (since March 2022) of the PGIM Private Real Estate Fund, Inc.; formerly, Treasurer and
Principal Accounting Officer (March 2022- July 2022) of the PGIM Private Real Estate Fund, Inc.; formerly
Director of Fund Administration of Lord Abbett & Co. LLC (2009-2018), Treasurer and Principal Accounting
Officer of the Lord Abbett Family of Funds (2017-2018); Director of Accounting, Avenue Capital Group
(2008-2009); Senior Manager, Investment Management Practice of Deloitte & Touche LLP (1998-2007). |
Since January 2019 |
Fund Officers(a) |
|
|
Name
Year of Birth
Fund Position |
Principal Occupation(s) During Past Five Years |
Length of
Service as Fund Officer |
Lana Lomuti
1967
Assistant Treasurer |
Vice President (since 2007) and Director (2005-2007), within PGIM Investments Fund Administration; formerly
Assistant Treasurer (December 2007-February 2014) of The Greater China Fund, Inc. |
Since April 2014 |
Russ Shupak
1973
Assistant Treasurer |
Vice President (since 2017) and Director (2013-2017), within PGIM Investments Fund Administration;
Treasurer and Principal Accounting Officer (since July 2022) of the PGIM Private Real Estate Fund, Inc.;
formerly Assistant Treasurer (March 2022 – July 2022) of the PGIM Private Real Estate Fund, Inc. |
Since October 2019 |
Deborah Conway
1969
Assistant Treasurer |
Vice President (since 2017) and Director (2007-2017), within PGIM Investments Fund Administration. |
Since October
2019 |
Elyse M. McLaughlin
1974
Assistant Treasurer |
Vice President (since 2017) and Director (2011-2017), within PGIM Investments Fund Administration;
Assistant Treasurer (since March 2022) of the PGIM Private Real Estate Fund, Inc. |
Since October 2019 |
Kelly Florio
1978
Anti-Money Laundering Compliance
Officer |
Vice President, Corporate Compliance, Global Compliance Programs and Compliance Risk Management (since
December 2021) of Prudential; formerly, Head of Fraud Risk Management (October 2019 to December 2021) at
New York Life Insurance Company; formerly, Head of Key Risk Area Operations (November 2018 to October
2019), Director of the US Anti-Money Laundering Compliance Unit (2009-2018) and Bank Loss Prevention
Associate (2006 -2009) at MetLife. |
Since June 2022 |
Name |
Aggregate Fiscal Year
Compensation from the Fund |
Pension or Retirement Benefits
Accrued as Part of Fund Expenses |
Estimated Annual Benefits
Upon Retirement |
Total Compensation from Fund
and Fund Complex for Most
Recent Calendar Year* |
Compensation Received by Independent Board Members | ||||
Ellen S. Alberding*** |
$1,883 |
None |
None |
$332,000 (33/95)** |
Kevin J. Bannon |
$1,810 |
None |
None |
$312,000 (33/95)** |
Linda W. Bynoe |
$1,883 |
None |
None |
$332,000 (30/92)** |
Barry Evans*** |
$1,963 |
None |
None |
$341,500 (32/94)** |
Keith F. Hartstein |
$2,110 |
None |
None |
$406,000 (33/95)** |
Laurie Simon Hodrick*** |
$1,840 |
None |
None |
$316,000 (29/91)** |
Brian Reid |
$1,967 |
None |
None |
$330,500 (32/94)** |
Grace C. Torres |
$1,973 |
None |
None |
$345,500 (32/94)** |
Board Committee Meetings (for most recently completed fiscal year) | |||
Audit Committee |
Nominating & Governance Committee |
Dryden & Gibraltar Investment
Committees |
Compliance Committee |
4 |
4 |
4 |
4 |
Name |
Dollar Range of Equity
Securities in the Fund |
Aggregate Dollar Range of
Equity Securities in All
Registered Investment
Companies Overseen by
Board Member in Fund Complex |
Board Member Share Ownership: Independent Board Members | ||
Ellen S. Alberding |
None |
Over $100,000 |
Kevin J. Bannon |
None |
Over $100,000 |
Linda W. Bynoe |
None |
Over $100,000 |
Barry H. Evans |
None |
Over $100,000 |
Keith F. Hartstein |
None |
Over $100,000 |
Laurie Simon Hodrick |
None |
Over $100,000 |
Brian K. Reid |
None |
Over $100,000 |
Grace C. Torres |
None |
Over $100,000 |
Board Member Share Ownership: Interested Board Members | ||
Scott E. Benjamin |
None |
Over $100,000 |
Stuart S. Parker |
None |
Over $100,000 |
Management Fees Paid by the Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$1,688,746 |
$1,823,351 |
$1,632,727 |
Amount Waived/ Reimbursed by PGIM Investments |
$(1,562,121) |
$(2,315,223) |
$(530,260) |
Net Fee |
$126,625 |
$(491,872) |
$1,102,467 |
Subadvisory Fees Paid by PGIM Investments | |||
Subadviser |
2022 |
2021 |
2020 |
PGIM Fixed Income |
$772,436 |
$833,008 |
$747,183 |
Fees Paid to PMFS |
|
Fund Name |
Amount |
PGIM Government Money Market Fund |
$292,318 |
Payments Received by the Distributor |
|
Class A Distribution and Service (12B-1) Fees (Gross) |
$412,806 |
Amount Waived |
$(412,806) |
Class A Distribution and Service (12B-1) Fees (Net) |
$0 |
Amounts Spent by Distributor | ||||
Share Class |
Printing & Mailing
Prospectuses to Other than
Current Shareholders |
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses* |
Overhead Costs** |
Total Amount
Spent by Distributor |
Class A |
$- |
$- |
$141,447 |
$141,447 |
Offering Price Per Share | |
|
|
Class A |
|
NAV and redemption price per Class A share |
$1.00 |
Class C |
|
NAV and redemption price per Class C share |
$1.00 |
Class Z |
|
NAV and redemption price per Class Z share |
$1.00 |
Brokerage Commissions Paid by the Fund | |||
|
2022 |
2021 |
2020 |
Total brokerage commissions paid by the Fund |
None |
None |
None |
Total brokerage commissions paid to affiliated brokers |
None |
None |
None |
Percentage of total brokerage commissions paid to affiliated brokers |
None |
None |
None |
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers |
None |
None |
None |
Broker-Dealer Securities Holdings | ||
Broker/Dealer Name |
Equity or Debt |
Amount |
None |
None |
None |
Class A Common Stock |
11,000,000,000 |
Class C Common Stock |
5,000,000,000 |
Class Z Common Stock |
50,000,000,000 |
Class P Common Stock |
100,000,000,000 |
Principal Fund Shareholders (as of September 9, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Class |
PGIM Government Money Market Fund – Class A Exchange |
Edward D. Jones & Co.
Attn: Mutual Fund Shareholder Accounting
201 Progress Pkwy
Maryland Hts, MO 63043-3003 |
29,647,267.130 |
18.70% |
|
Wells Fargo Clearing Svcs LLC
Special Custody Acct for The Exclusive Benefit of Customer
2801 Market St
Saint Louis, MO 63103-2523 |
20,285,646.000 |
12.79% |
|
National Financial Services LLC
For Exclusive Benefit of Customers
Attn Mutual Funds Dept – 4th Floor
499 Washington Blvd
Jersey City, NJ 07310 |
9,597,792.760 |
6.05% |
PGIM Government Money Market Fund – Class A Purchase |
National Financial Services LLC
For Exclusive Benefit of Customers
Attn Mutual Funds Dept – 4th Floor
499 Washington Blvd
Jersey City, NJ 07310 |
186,080,840.460 |
55.62% |
|
PIMS/Prudential Retirement as Nominee for the TTEE/CUST Pl 007
Southwest Carpenters
533 S. Fremont Ave
Los Angeles, CA 90071 |
46,078,736.120 |
13.77% |
PGIM Government Money Market Fund – Class C |
Wells Fargo Clearing Svcs LLC
Special Custody Acct for The Exclusive Benefit of Customer
2801 Market St
Saint Louis, MO 63103-2523 |
1,963,886.620 |
16.12% |
|
LPL Financial
4707 Executive Drive
San Diego, CA 92121-3091 |
1,920,341.010 |
15.76% |
|
National Financial Services LLC
For Exclusive Benefit of Customers
Attn Mutual Funds Dept – 4th Floor
499 Washington Blvd
Jersey City, NJ 07310 |
964,606.750 |
7.92% |
|
Pershing LLC
1 Pershing Plaza
Jersey City, NJ 07399-0002 |
869,231.520 |
7.13% |
|
Morgan Stanley Smith Barney LLC
For the Exclusive Benefit of its Customers
1 New York Plaza Fl 12
New York, NY 10004-1901 |
840,479.880 |
6.90% |
|
American Enterprise Investment Svc
707 2nd Ave South
Minneapolis, MN 55402-2405 |
744,832.260 |
5.42% |
PGIM Government Money Market Fund – Class Z |
TIAA, FSB CUST/TTEE FBO:
Retirement Plans for Which TIAA Acts as Recordkeeper
Attn: Trust Operations
211 North Broadway, Suite 1000
St. Louis, MO 63102-2733 |
45,447,944.150 |
52.25% |
Principal Fund Shareholders (as of September 9, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Class |
|
National Financial Services LLC
For Exclusive Benefit of Customers
Attn Mutual Funds Dept – 4th Floor
499 Washington Blvd
Jersey City, NJ 07310 |
13,060,864.520 |
15.02% |
|
PIMS/Prudential Retirement as Nominee for the TTEE/CUST Pl 006
Fair Fund Settlement Holding
30 Scranton Office Park
Scranton, PA 18507 |
5,140,276.600 |
5.91% |
Control Persons (as of September 9, 2022) | |||
Fund Name |
Shareholder Name and Address |
No. of Shares |
% of Fund |
PGIM Government Money Market Fund |
National Financial Services LLC
For Exclusive Benefit of Customers
Attn Mutual Funds Dept – 4th Floor
499 Washington Blvd
Jersey City, NJ 07310 |
186,080,840.460 |
31.42% |
Name and Principal Business Address |
Positions and Offices with Underwriter |
Positions and Offices with Registrant |
Adam Scaramella (1)
|
President |
N/A |
Monica Oswald (3)
|
Executive Vice President |
N/A |
Name and Principal Business Address |
Positions and Offices with Underwriter |
Positions and Offices with Registrant |
Stuart S. Parker (2)
|
Executive Vice President |
Board Member and
President |
Scott E. Benjamin (2)
|
Vice President |
Board Member and
Vice President |
Francine Boucher (1)
|
Senior Vice President, Chief
Legal Officer and Secretary |
N/A |
John N. Christolini (3)
|
Senior Vice President and
Co-Chief Compliance Officer |
N/A |
Robert Smit (2)
|
Senior Vice President, Comptroller
and Chief Financial Officer |
N/A |
Hansjerg Schlenker (2)
|
Senior Vice President and
Chief Operations Officer |
N/A |
Lenore J Paoli (3)
|
Senior Vice President and
Chief Risk Officer |
N/A |
Peter Puzio (3)
|
Senior Vice President |
N/A |
Kevin Chaillet (1)
|
Treasurer |
N/A |
Kelly Florio (4)
|
Vice President and Anti-Money
Laundering Officer |
Anti-Money Laundering
Compliance Officer |
Prudential Government Money Market Fund, Inc. |
* |
Stuart S. Parker, President |
Signature |
Title |
Date |
*
Ellen S. Alberding |
Director |
|
*
Kevin J. Bannon |
Director |
|
*
Scott E. Benjamin |
Director |
|
*
Linda W. Bynoe |
Director |
|
*
Barry H. Evans |
Director |
|
*
Keith F. Hartstein |
Director |
|
*
Laurie Simon Hodrick |
Director |
|
*
Stuart S. Parker |
Director and President, Principal Executive Officer |
|
*
Brian K. Reid |
Director |
|
*
Grace C. Torres |
Director |
|
*
Christian J. Kelly |
Treasurer, Principal Financial and Accounting
Officer |
|
*By: /s/ Patrick McGuinness
Patrick McGuinness |
Attorney-in-Fact |
September 28, 2022 |
|
|
/s/ Ellen S. Alberding
Ellen S. Alberding |
/s/ Laurie Simon Hodrick
Laurie Simon Hodrick |
/s/ Kevin J. Bannon
Kevin J. Bannon |
/s/ Christian J. Kelly
Christian J. Kelly |
/s/ Scott E. Benjamin
Scott E. Benjamin |
/s/ Stuart S. Parker
Stuart S. Parker |
/s/ Linda W. Bynoe
Linda W. Bynoe |
/s/ Brian K. Reid
Brian K. Reid |
/s/ Barry H. Evans
Barry H. Evans |
/s/ Grace C. Torres
Grace C. Torres |
/s/ Keith F. Hartstein
Keith F. Hartstein |
|
|
|
Dated: December 13, 2021 |
|