PGIM QUANT SOLUTIONS US BROAD MARKET INDEX FUND |
R6: PQBMX |
PGIM QUANT SOLUTIONS MID-CAP CORE FUND |
R6: PQCCX |
PGIM JENNISON SMALL-CAP CORE EQUITY FUND |
R6: PQJCX |
PGIM CORE CONSERVATIVE BOND FUND |
R6: PQCNX |
PGIM TIPS FUND |
R6: PQTSX |
PGIM QUANT SOLUTIONS COMMODITY STRATEGIES FUND | |
R6: PQCMX |
Z: PQCZX |
The Securities and Exchange Commission
and the Commodity Futures Trading
Commission have not approved or
disapproved these securities or passed upon
the adequacy of this prospectus. Any
representation to the contrary is a criminal
offense. Mutual funds are distributed by Prudential
Investment Management Services LLC
(“PIMS”), a Prudential Financial company,
member SIPC. ©2022 Prudential Financial,
Inc. and its related entities. PGIM
Investments, Prudential, the Prudential logo,
and the Rock symbol are service marks of
Prudential Financial, Inc. and its related
entities, registered in many jurisdictions
worldwide. |
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9 |
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11 |
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15 |
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86 |
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91 |
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99 |
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104 |
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104 |
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105 |
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105 |
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105 |
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107 |
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107 |
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118 |
|
126 |
|
Class R6 |
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 R6 |
Management fee |
|
Distribution and service (12b-1) fees |
|
Other expenses |
|
Total annual Fund operating expenses |
|
Fee waiver and/or expense reimbursement |
( |
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1) |
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
S&P Composite 1500 Index |
|
|
|
|
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
PGIM Quantitative Solutions LLC |
Stacie Mintz, CFA |
Managing Director,
Head of the
Quantitative Equity
team & Portfolio
Manager |
February 2021 |
|
|
Edward Lithgow, CFA |
Vice President,
Portfolio Manager |
November 2016 |
|
|
Edward Louie |
Vice President,
Portfolio Manager |
November 2016 |
|
Class R6 |
Minimum initial investment |
None |
Minimum subsequent investment |
None |
|
Class R6 |
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 R6 |
Management fee |
|
Distribution and service (12b-1) fees |
|
Other expenses |
|
Total annual Fund operating expenses |
|
Fee waiver and/or expense reimbursement |
( |
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1) |
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
S&P MidCap 400 Index |
|
|
|
|
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
PGIM Quantitative Solutions LLC |
Stacie L. Mintz, CFA |
Managing Director,
Head of the
Quantitative Equity
team and Portfolio
Manager |
November 2016 |
|
|
Devang Gambhirwala |
Principal and Portfolio
Manager |
November 2016 |
|
Class R6 |
Minimum initial investment |
None |
Minimum subsequent investment |
None |
|
Class R6 |
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 R6 |
Management fee |
|
Distribution and service (12b-1) fees |
|
Other expenses |
|
Total annual Fund operating expenses |
|
Fee waiver and/or expense reimbursement |
( |
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1) |
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
Russell 2000 Index |
|
|
|
|
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
Jennison Associates LLC |
Eric Sartorius, CFA |
Managing Director |
January 2017 |
|
|
Jason M. Swiatek, CFA |
Managing Director |
November 2016 |
|
|
Jonathan Shapiro |
Managing Director |
March 2022 |
|
Class R6 |
Minimum initial investment |
None |
Minimum subsequent investment |
None |
|
Class R6 |
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 R6 |
Management fee |
|
Distribution and service (12b-1) fees |
|
Other expenses |
|
Total annual Fund operating expenses |
|
Fee waiver and/or expense reimbursement |
( |
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1) |
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Return Before Taxes |
- |
|
|
|
Return After Taxes on Distributions |
- |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
Bloomberg US Aggregate Bond Index |
- |
|
|
|
Investment Manager |
Subadvisers |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
PGIM Fixed Income
PGIM Limited |
Stewart Wong, CLU,
ChFC |
Managing Director
and Head of Core
Conservative Strategy |
November 2016 |
|
|
Gregory Peters |
Managing Director
and Co-Chief
Investment Officer |
April 2019 |
|
|
Michael Marinelli |
Vice President and
Portfolio Manager |
September 2021 |
|
Class R6 |
Minimum initial investment |
None |
Minimum subsequent investment |
None |
|
Class R6 |
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 R6 |
Management fee |
|
Distribution and service (12b-1) fees |
|
Other expenses |
|
Total annual Fund operating expenses |
|
Fee waiver and/or expense reimbursement |
|
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1) |
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
Bloomberg US Treasury Inflation-Protected (TIPS) Index |
|
|
|
|
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
PGIM Fixed Income |
Craig Dewling |
Managing Director
and Co-Chief
Investment Officer |
November 2016 |
|
|
Gary Wu, CFA |
Principal and a US
government portfolio
manager |
November 2016 |
|
|
Mick Meyler |
Managing Director
and Head of
Developed Rates |
April 2021 |
|
|
Scott Donnelly, CFA |
Principal and a US
government portfolio
manager |
April 2021 |
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
|
|
Robert Tipp, CFA |
Managing Director,
Chief Investment
Strategist and Head of
Global Bonds |
April 2021 |
|
Class R6 |
Minimum initial investment |
None |
Minimum subsequent investment |
None |
|
Class R6 |
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 R6 |
Class Z |
Management fee |
|
|
Distribution and service (12b-1) fees |
|
|
Other expenses(1) |
|
|
Total annual Fund operating expenses |
|
|
Fee waiver and/or expense reimbursement |
( |
( |
Total annual Fund operating expenses after fee waiver and/or expense reimbursement(2) |
|
|
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Class Z |
$ |
$ |
$ |
$ |
Share Class |
1 Year |
3 Years |
5 Years |
10 Years |
Class R6 |
$ |
$ |
$ |
$ |
Class Z |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
|
One Year |
Five Years |
Since
Inception |
Inception
Date |
Class R6 Shares % (including sales charges) (as of 12-31-21) | ||||
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Class Z Shares % (including sales charges) (as of 12-31-21) | ||||
Return Before Taxes |
|
|
|
|
Index % (reflects no deduction for fees, expenses or taxes) (as of 12-31-21) | ||||
Bloomberg Commodity Index |
|
|
|
|
Investment Manager |
Subadviser |
Portfolio Managers |
Title |
Service Date |
PGIM Investments LLC |
PGIM Quantitative Solutions LLC |
Yesim Tokat-Acikel,
PhD |
Managing Director,
Head of Multi-Asset
Research and
Co-Head of ESG and
Portfolio Manager |
April 2018 |
|
|
Marco Aiolfi, PhD |
Managing Director,
Co-Head of the
Multi-Asset team and
Portfolio Manager |
April 2018 |
|
|
Edward L. Campbell,
CFA |
Managing Director,
Co-Head of the
Multi-Asset team and
Portfolio Manager |
September 2022 |
|
|
Edward J. Tostanoski
III, CFA |
Principal, Portfolio
Manager |
September 2022 |
|
Class R6 |
Class Z* |
Minimum initial investment |
None |
None |
Minimum subsequent investment |
None |
None |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Equity and equity-related securities of U.S. companies in the Index: Over 80% of investable assets ◾Derivatives: Up to 25% of net assets (subject to the Fund’s operation under the requirements of Rule 18f-4 under the
Investment Company Act of 1940) ◾Illiquid Investments: Up to 15% of net assets |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Equity and equity-related securities of mid-capitalization companies: At least 80% of investable assets ◾Derivatives: Up to 25% of net assets (subject to the Fund’s operation under the requirements of Rule 18f-4 under the
Investment Company Act of 1940) ◾Money market instruments: Up to 100% on a temporary basis ◾U.S. Government Securities: Up to 20% of total assets; up to 100% on a temporary basis ◾Illiquid Investments: Up to 15% of net assets |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Equity and equity-related securities of small-cap companies: At least 80% of investable assets ◾Common stocks of larger cap companies: Up to 20% of investable assets ◾Securities of REITs: Percentage varies ◾Foreign securities: Up to 35% of investable assets ◾Short Sales: Up to 25% of net assets (short sales “against the box” are not subject to this limit) ◾Investment Grade Fixed Income Investments: Up to 20% of investable assets ◾Illiquid Investments: Up to 15% of net assets ◾Money market instruments: Up to 20% of investable assets; up to 100% on temporary basis |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Bonds: At least 80% of investable assets ◾Mortgage-related securities: Percentage varies ◾Asset-Backed Securities: Percentage varies ◾Derivatives (including swaps): Up to 25% of net assets (subject to the Fund’s operation under the requirements of Rule
18f-4 under the Investment Company Act of 1940) ◾Foreign Debt Securities: Up to 20% of investable assets |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Money market instruments: Up to 20% of investable assets; up to 100% on a temporary basis ◾Short Sales: Up to 25% of net assets (not including short sales against the box) ◾Zero coupon bonds, PIK and deferred payment securities: Percentage varies ◾When issued and delayed delivery securities: Percentage varies ◾Municipal Securities: Up to 20% of net assets ◾Illiquid Investments: Up to 15% of net assets |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾U.S. Treasury Inflation-Protected Securities: At least 80% of investable assets ◾Mortgage-related securities: Up to 20% of investable assets ◾Reverse repurchase agreements and dollar rolls: Percentage varies ◾Zero coupon bonds: Up to 20% of investable assets ◾When-issued and delayed-delivery securities: Percentage varies ◾Derivatives (including swaps): Up to 25% of net assets (subject to Fund’s operation under the requirements of Rule 18f-4
under the Investment Company Act of 1940) ◾Money market instruments: Up to 20% of investable assets; up to 100% on a temporary basis ◾Asset-backed securities: Up to 20% of investable assets ◾Illiquid Investments: Up to 15% of net assets |
Principal & Certain Non-Principal Strategies: Investment Limits |
◾Derivatives: Up to 100% of total assets (subject to the Fund’s operation under the requirements of Rule 18f-4 under the
Investment Company Act of 1940) ◾Cayman Subsidiary: Up to 25% of total assets ◾ETNs: Up to 5% of total assets by any one securities-related issuer, along with all other securities issued by the issuer ◾ETFs: Up to 10% of total assets ◾Illiquid Investments: Up to 15% of net assets ◾Cash and Cash Equivalents, including Money Market Instruments: Up to 100% of total assets ◾CLNs: Up to 5% of total assets by any one securities-related issuer, along with all other securities issued by the issuer. |
Fund |
Fee Rate (as a % of average daily net assets) |
PGIM Quant Solutions US Broad Market Index Fund |
0.18% |
PGIM Quant Solutions Mid-Cap Core Fund |
0.50% |
PGIM Jennison Small-Cap Core Equity Fund |
0.75% |
PGIM Core Conservative Bond Fund |
0.27% |
PGIM TIPS Fund |
0.23% |
PGIM Quant Solutions Commodity Strategies Fund |
0.40% |
Expected Distribution Schedule* |
|
Net Investment Income |
Annually |
Short-Term Capital Gains |
Annually |
Long-Term Capital Gains |
Annually |
Expected Distribution Schedule* |
|
Net Investment Income |
Monthly |
Short-Term Capital Gains |
Annually |
Long-Term Capital Gains |
Annually |
Share Class
|
Eligibility
|
Class Z* |
Certain group retirement plans, institutional investors and certain other investors |
Class R6 |
Certain group retirement plans, institutional investors and certain other investors |
|
Class Z* |
Class R6 |
Minimum purchase amount |
None |
None |
Minimum amount for subsequent purchases |
None |
None |
Maximum initial sales charge |
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 |
Annual distribution and service (12b-1) fees (shown as a percentage of average
daily net assets) |
None |
None |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$19.85 |
$14.80 |
$13.60 |
$12.99 |
$11.36 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
0.22 |
0.22 |
0.23 |
0.23 |
0.20 |
Net realized and unrealized gain (loss) on investment transactions |
(0.93) |
5.15 |
1.22 |
0.64 |
1.61 |
Total from investment operations |
(0.71) |
5.37 |
1.45 |
0.87 |
1.81 |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
(0.27) |
(0.21) |
(0.23) |
(0.19) |
(0.14) |
Distributions from net realized gains |
(2.03) |
(0.11) |
(0.02) |
(0.07) |
(0.04) |
Total dividends and distributions |
(2.30) |
(0.32) |
(0.25) |
(0.26) |
(0.18) |
Net asset value, end of Year |
$16.84 |
$19.85 |
$14.80 |
$13.60 |
$12.99 |
Total Return(b): |
(4.80)% |
36.70% |
10.71% |
6.95% |
16.05% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$46,559 |
$64,347 |
$62,108 |
$45,134 |
$37,020 |
Average net assets (000) |
$56,240 |
$72,943 |
$49,589 |
$40,825 |
$29,409 |
Ratios to average net assets(c): | |||||
Expenses after waivers and/or expense reimbursement |
0.20% |
0.20% |
0.20% |
0.20% |
0.20% |
Expenses before waivers and/or expense reimbursement |
0.47% |
0.38% |
0.52% |
0.59% |
0.65% |
Net investment income (loss) |
1.20% |
1.27% |
1.71% |
1.78% |
1.64% |
Portfolio turnover rate(d) |
29% |
28% |
23% |
15% |
15% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
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. |
(c) |
Does not include expenses of the underlying funds in which the Fund invests. |
(d) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$14.27 |
$9.72 |
$10.84 |
$12.08 |
$11.16 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
0.10 |
0.09 |
0.10 |
0.11 |
0.09 |
Net realized and unrealized gain (loss) on investment transactions |
(0.47) |
4.54 |
(1.10) |
(0.67) |
1.16 |
Total from investment operations |
(0.37) |
4.63 |
(1.00) |
(0.56) |
1.25 |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
(0.13) |
(0.08) |
(0.12) |
(0.09) |
(0.07) |
Distributions from net realized gains |
(3.02) |
- |
- |
(0.59) |
(0.26) |
Total dividends and distributions |
(3.15) |
(0.08) |
(0.12) |
(0.68) |
(0.33) |
Net asset value, end of Year |
$10.75 |
$14.27 |
$9.72 |
$10.84 |
$12.08 |
Total Return(b): |
(3.86)% |
47.88% |
(9.42)% |
(4.08)% |
11.36% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$14,741 |
$23,675 |
$20,814 |
$15,360 |
$12,182 |
Average net assets (000) |
$18,954 |
$27,862 |
$16,827 |
$13,541 |
$10,251 |
Ratios to average net assets(c): | |||||
Expenses after waivers and/or expense reimbursement |
0.81% |
0.85% |
0.85% |
0.85% |
0.85% |
Expenses before waivers and/or expense reimbursement |
1.21% |
0.97% |
1.32% |
1.54% |
1.80% |
Net investment income (loss) |
0.80% |
0.73% |
1.02% |
1.03% |
0.78% |
Portfolio turnover rate(d) |
123% |
135% |
140% |
120% |
113% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
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. |
(c) |
Does not include expenses of the underlying funds in which the Fund invests. |
(d) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$19.43 |
$12.48 |
$11.82 |
$13.04 |
$11.27 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
0.02 |
(0.06) |
(-)(b) |
0.01 |
-(b) |
Net realized and unrealized gain (loss) on investment transactions |
(2.98) |
7.65 |
0.66 |
(0.53) |
1.97 |
Total from investment operations |
(2.96) |
7.59 |
0.66 |
(0.52) |
1.97 |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
- |
- |
- |
(0.04) |
(-)(b) |
Tax return of capital distributions |
- |
- |
- |
(0.01) |
- |
Distributions from net realized gains |
(4.19) |
(0.64) |
- |
(0.65) |
(0.20) |
Total dividends and distributions |
(4.19) |
(0.64) |
- |
(0.70) |
(0.20) |
Net asset value, end of Year |
$12.28 |
$19.43 |
$12.48 |
$11.82 |
$13.04 |
Total Return(c): |
(19.13)% |
62.10% |
5.50% |
(3.26)% |
17.75% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$29,650 |
$32,765 |
$21,439 |
$17,371 |
$16,158 |
Average net assets (000) |
$32,596 |
$28,667 |
$17,831 |
$16,167 |
$14,370 |
Ratios to average net assets(d): | |||||
Expenses after waivers and/or expense reimbursement |
0.95% |
0.95% |
0.95% |
0.95% |
0.95% |
Expenses before waivers and/or expense reimbursement |
1.15% |
1.19% |
1.52% |
1.64% |
1.68% |
Net investment income (loss) |
0.11% |
(0.39)% |
(0.03)% |
0.07% |
-%(b) |
Portfolio turnover rate(e) |
49% |
67% |
54% |
36% |
39% |
(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. |
(d) |
Does not include expenses of the underlying funds in which the Fund invests. |
(e) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$10.39 |
$10.81 |
$10.12 |
$9.66 |
$10.03 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
0.15 |
0.13 |
0.22 |
0.25 |
0.21 |
Net realized and unrealized gain (loss) on investment transactions |
(1.16) |
(0.25) |
0.73 |
0.49 |
(0.34) |
Total from investment operations |
(1.01) |
(0.12) |
0.95 |
0.74 |
(0.13) |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
(0.20) |
(0.21) |
(0.26) |
(0.28) |
(0.24) |
Distributions from net realized gains |
(0.03) |
(0.09) |
- |
- |
- |
Total dividends and distributions |
(0.23) |
(0.30) |
(0.26) |
(0.28) |
(0.24) |
Net asset value, end of Year |
$9.15 |
$10.39 |
$10.81 |
$10.12 |
$9.66 |
Total Return(b): |
(9.79)% |
(1.07)% |
9.50% |
7.74% |
(1.31)% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$51,685 |
$62,780 |
$57,963 |
$46,905 |
$38,592 |
Average net assets (000) |
$58,320 |
$62,768 |
$50,192 |
$42,668 |
$34,737 |
Ratios to average net assets(c): | |||||
Expenses after waivers and/or expense reimbursement |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
Expenses before waivers and/or expense reimbursement |
0.55% |
0.55% |
0.67% |
0.77% |
0.78% |
Net investment income (loss) |
1.49% |
1.28% |
2.07% |
2.55% |
2.11% |
Portfolio turnover rate(d)(e) |
171% |
194% |
174% |
107% |
171% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
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. |
(c) |
Does not include expenses of the underlying funds in which the Fund invests. |
(d) |
The Fund accounts for mortgage dollar roll transactions, when applicable, as purchases and sales which, as a result, can increase its portfolio turnover rate. |
(e) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$10.83 |
$10.67 |
$9.87 |
$9.61 |
$9.86 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
0.68 |
0.36 |
0.01 |
0.21 |
0.28 |
Net realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.08) |
0.32 |
0.94 |
0.30 |
(0.19) |
Total from investment operations |
(0.40) |
0.68 |
0.95 |
0.51 |
0.09 |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
(0.78) |
(0.43) |
(0.15) |
(0.25) |
(0.34) |
Distributions from net realized gains |
(0.21) |
(0.09) |
- |
- |
- |
Total dividends and distributions |
(0.99) |
(0.52) |
(0.15) |
(0.25) |
(0.34) |
Net asset value, end of Year |
$9.44 |
$10.83 |
$10.67 |
$9.87 |
$9.61 |
Total Return(b): |
(3.91)% |
6.49% |
9.83% |
5.38% |
0.87% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$90,662 |
$83,793 |
$48,736 |
$35,938 |
$23,693 |
Average net assets (000) |
$83,845 |
$79,151 |
$38,800 |
$30,412 |
$19,916 |
Ratios to average net assets(c): | |||||
Expenses after waivers and/or expense reimbursement |
0.39% |
0.40% |
0.40% |
0.40% |
0.40% |
Expenses before waivers and/or expense reimbursement |
0.39% |
0.41% |
0.58% |
0.72% |
0.94% |
Net investment income (loss) |
6.66% |
3.39% |
0.12% |
2.17% |
2.83% |
Portfolio turnover rate(d) |
73% |
72% |
102% |
40% |
54% |
(a) |
Calculated based on average shares outstanding during the year. |
(b) |
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. |
(c) |
Does not include expenses of the underlying funds in which the Fund invests. |
(d) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class Z Shares | |
|
December 14, 2021(a)
through July 31, 2022 |
| |
Per Share Operating Performance(b): | |
Net Asset Value, Beginning of Period |
$7.94 |
Income (loss) from investment operations: | |
Net investment income (loss) |
0.01(c) |
Net realized and unrealized gain (loss) on investment transactions |
2.58 |
Total from investment operations |
2.59 |
Less Dividends and Distributions: | |
Tax return of capital distributions |
- |
Total dividends and distributions |
- |
Net asset value, end of Period |
$10.53 |
Total Return(d): |
32.62% |
| |
Ratios/Supplemental Data: | |
Net assets, end of Period (000) |
$532 |
Average net assets (000) |
$424 |
Ratios to average net assets(e): | |
Expenses after waivers and/or expense reimbursement |
0.70%(f) |
Expenses before waivers and/or expense reimbursement |
9.94%(f) |
Net investment income (loss) |
0.08%(f) |
Portfolio turnover rate(g) |
0% |
(a) |
Commencement of offering. |
(b) |
Calculated based on average shares outstanding during the period. |
(c) |
The per share amount of net investment income (loss) does not directly correlate to the amounts reported in the Statement of Operations due to class specific expenses. |
(d) |
Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and
distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized. |
(e) |
Does not include expenses of the underlying funds in which the Fund invests. |
(f) |
Annualized. |
(g) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
Class R6 Shares | |||||
|
Year Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per Share Operating Performance(a): | |||||
Net Asset Value, Beginning of Year |
$12.02 |
$8.34 |
$9.44 |
$10.31 |
$10.15 |
Income (loss) from investment operations: | |||||
Net investment income (loss) |
(0.02) |
(0.05) |
0.01 |
0.14 |
0.04 |
Net realized and unrealized gain (loss) on investment transactions |
2.45 |
3.73 |
(1.01) |
(0.74) |
0.27 |
Total from investment operations |
2.43 |
3.68 |
(1.00) |
(0.60) |
0.31 |
Less Dividends and Distributions: | |||||
Dividends from net investment income |
(3.92) |
- |
(0.10) |
(0.27) |
(0.15) |
Tax return of capital distributions |
- |
- |
(-)(b) |
- |
- |
Total dividends and distributions |
(3.92) |
- |
(0.10) |
(0.27) |
(0.15) |
Net asset value, end of Year |
$10.53 |
$12.02 |
$8.34 |
$9.44 |
$10.31 |
Total Return(c): |
30.61% |
44.12% |
(10.74)% |
(5.69)% |
3.09% |
| |||||
Ratios/Supplemental Data: | |||||
Net assets, end of Year (000) |
$80,579 |
$61,721 |
$38,553 |
$21,123 |
$18,187 |
Average net assets (000) |
$67,445 |
$53,974 |
$28,308 |
$19,634 |
$16,136 |
Ratios to average net assets(d): | |||||
Expenses after waivers and/or expense reimbursement |
0.62% |
0.64% |
0.80% |
0.80% |
0.92% |
Expenses before waivers and/or expense reimbursement |
0.68% |
0.71% |
0.94% |
1.10% |
1.88% |
Net investment income (loss) |
(0.18)% |
(0.53)% |
0.17% |
1.42% |
0.41% |
Portfolio turnover rate(e) |
0% |
0% |
0% |
0% |
0% |
(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. |
(d) |
Does not include expenses of the underlying funds in which the Fund invests. |
(e) |
The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives
and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher. |
FOR MORE INFORMATION
Please read this Prospectus before you invest in a 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.pgiminvestments.com |
◾TELEPHONE
(800) 225-1852
(973) 367-3529
(from outside the US) |
◾E-DELIVERY
To receive your mutual fund documents on-line, go to www.pgiminvestments.com/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 each 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 Securities and Exchange Commission 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 Quant Solutions US Broad Market Index Fund | |
Share Class |
R6 |
NASDAQ |
PQBMX |
CUSIP |
74440E409 |
PGIM Quant Solutions Mid-Cap Core Fund | |
Share Class |
R6 |
NASDAQ |
PQCCX |
CUSIP |
74440E508 |
PGIM Jennison Small-Cap Core Equity Fund | |
Share Class |
R6 |
NASDAQ |
PQJCX |
CUSIP |
74440E805 |
PGIM Core Conservative Bond Fund | |
Share Class |
R6 |
NASDAQ |
PQCNX |
CUSIP |
74440E888 |
PGIM TIPS Fund | |
Share Class |
R6 |
NASDAQ |
PQTSX |
CUSIP |
74440E870 |
PGIM Quant Solutions Commodity Strategies Fund | ||
Share Class |
R6 |
Z |
NASDAQ |
PQCMX |
PQCZX |
CUSIP |
74440E862 |
74440E854 |
PGIM QUANT SOLUTIONS US BROAD MARKET INDEX FUND | |||||
R6: PQBMX |
|
|
|
|
|
PGIM QUANT SOLUTIONS MID-CAP CORE FUND | |||||
R6: PQCCX |
|
|
|
|
|
PGIM JENNISON SMALL-CAP CORE EQUITY FUND | |||||
R6: PQJCX |
|
|
|
|
|
PGIM CORE CONSERVATIVE BOND FUND | |||||
R6: PQCNX |
|
|
|
|
|
PGIM TIPS FUND | |||||
R6: PQTSX |
|
|
|
|
|
PGIM QUANT SOLUTIONS COMMODITY STRATEGIES FUND | |||||
R6: PQCMX |
Z: PQCZX |
|
|
|
|
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 |
Term |
Definition |
S&P |
S&P Global Ratings |
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 |
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 |
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 |
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 |
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 |
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 Funds |
Pension or Retirement Benefits
Accrued as Part of Fund Expenses |
Estimated Annual Benefits
Upon Retirement |
Total Compensation from the Funds
and Fund Complex for Most
Recent Calendar Year* |
Compensation Received by Independent Board Members | ||||
Ellen S. Alberding*** |
$7,493 |
None |
None |
$332,000 (33/95)** |
Kevin J. Bannon |
$7,460 |
None |
None |
$312,000 (33/95)** |
Linda W. Bynoe |
$7,513 |
None |
None |
$332,000 (30/92)** |
Barry Evans*** |
$7,593 |
None |
None |
$341,500 (32/94)** |
Keith F. Hartstein |
$7,670 |
None |
None |
$406,000 (33/95)** |
Laurie Simon Hodrick*** |
$7,470 |
None |
None |
$316,000 (29/91)** |
Brian Reid |
$7,593 |
None |
None |
$330,500 (32/94)** |
Grace C. Torres |
$7,593 |
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 Funds |
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 | ||
Stuart S. Parker |
None |
Over $100,000 |
Scott E. Benjamin |
Over $100,000 (PGIM Quant Solutions US Broad Market Index Fund) |
Over $100,000 |
Management Fee Rates | |
Fund Name |
Fee Rate |
PGIM Quant Solutions US Broad Market Index Fund |
0.18% of average daily net assets. |
PGIM Quant Solutions Mid-Cap Core Fund |
0.50% of average daily net assets. |
PGIM Jennison Small-Cap Core Equity Fund |
0.75% of average daily net assets. |
PGIM Core Conservative Bond Fund |
0.27% of average daily net assets. |
PGIM TIPS Fund |
0.23% of average daily net assets. |
PGIM Quant Solutions Commodity Strategies Fund |
0.40% of average daily net assets. |
Management Fees Paid by the PGIM Quant Solutions US Broad Market Index Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$101,233 |
$131,298 |
$89,260 |
Amount Waived/Reimbursed by PGIM Investments |
$(151,990) |
$(134,305) |
$(156,227) |
Net Fee |
$(50,757) |
$3,007 |
$(66,967) |
Management Fees Paid by the PGIM Quant Solutions Mid-Cap Core Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$94,772 |
$139,311 |
$84,137 |
Amount Waived/Reimbursed by PGIM Investments |
$(76,147) |
$(32,562) |
$(78,547) |
Net Fee |
$18,625 |
$106,749 |
$5,590 |
Management Fees Paid by the PGIM Jennison Small-Cap Core Equity Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$244,467 |
$215,002 |
$133,734 |
Amount Waived/Reimbursed by PGIM Investments |
$(65,133) |
$(69,007) |
$(102,177) |
Net Fee |
$179,334 |
$145,995 |
$31,557 |
Management Fees Paid by the PGIM Core Conservative Bond Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$157,463 |
$169,473 |
$135,519 |
Amount Waived/Reimbursed by PGIM Investments* |
$(31,756) |
$(33,359) |
$(85,240) |
Net Fee |
$125,707 |
$136,114 |
$50,279 |
Management Fees Paid by the PGIM TIPS Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$192,843 |
$182,047 |
$89,241 |
Management Fees Paid by the PGIM TIPS Fund |
|
|
|
|
2022 |
2021 |
2020 |
Amount Waived/Reimbursed by PGIM Investments* |
None |
$(9,270) |
$(71,099) |
Net Fee |
$192,843 |
$172,777 |
$18,142 |
Management Fees Paid by the PGIM Quant Solutions Commodity Strategies Fund |
|
|
|
|
2022 |
2021 |
2020 |
Gross Fee |
$314,211 |
$253,687 |
$130,565 |
Amount Waived/Reimbursed by PGIM Investments |
$(67,851) |
$(37,790) |
$(38,395) |
Net Fee |
$246,360 |
$215,897 |
$92,170 |
Fund Subadvisers & Fee Rates | ||
Fund Name |
Subadviser |
Fee Rate |
PGIM Quant Solutions US Broad Market Index Fund |
PGIM Quantitative Solutions LLC |
0.03% of average daily net assets. |
PGIM Quant Solutions Mid-Cap Core Fund |
PGIM Quantitative Solutions LLC |
0.35% of average daily net assets. |
PGIM Jennison Small-Cap Core Equity Fund |
Jennison Associates LLC (Jennison) |
0.60% of average daily net assets. |
PGIM Core Conservative Bond Fund* |
PGIM Fixed Income
PGIM Limited |
0.12% of average daily net assets. |
PGIM TIPS Fund* |
PGIM Fixed Income |
0.08% of average daily net assets. |
PGIM Quant Solutions Commodity Strategies Fund |
PGIM Quantitative Solutions LLC |
0.25% of average daily net assets |
Subadvisory Fees Paid by PGIM Investments: PGIM Quant Solutions US Broad Market Index Fund | |||
|
2022 |
2021 |
2020 |
|
$16,872 |
$21,883 |
$14,877 |
Subadvisory Fees Paid by PGIM Investments: PGIM Quant Solutions Mid-Cap Core Fund | |||
|
2022 |
2021 |
2020 |
|
$66,341 |
$97,517 |
$58,896 |
Subadvisory Fees Paid by PGIM Investments: PGIM Jennison Small-Cap Core Equity Fund | |||
|
2022 |
2021 |
2020 |
|
$195,573 |
$172,002 |
$106,987 |
Subadvisory Fees Paid by PGIM Investments: PGIM Core Conservative Bond Fund | |||
|
2022 |
2021 |
2020 |
|
$69,984 |
$75,321 |
$60,231 |
Subadvisory Fees Paid by PGIM Investments: PGIM TIPS Fund | |||
|
2022 |
2021 |
2020 |
|
$67,076 |
$63,321 |
$31,040 |
Subadvisory Fees Paid by PGIM Investments: PGIM Quant Solutions Commodity Strategies Fund | |||
|
2022 |
2021 |
2020 |
|
$142,179 |
$111,317 |
$59,939 |
Other Funds and Investment Accounts Managed by the Portfolio Managers | |||||
Fund |
Subadviser |
Portfolio
Managers |
Registered
Investment
Companies*/
Total Assets |
Other Pooled
Investment
Vehicles*/
Total Assets |
Other
Accounts*/
Total Assets |
PGIM Quant Solutions US Broad Market Index
Fund |
PGIM Quantitative Solutions LLC |
Stacie L. Mintz, CFA |
9/$13,143,850,973 |
18/$10,644,072,262 |
24/$4,113,856,550
5/$1,449,209,140 |
|
|
Edward J. Lithgow, CFA |
11/$13,195,683,609 |
21/$11,909,646,889 |
24/$4,113,856,550
8/$1,797,679,721 |
|
|
Edward Louie |
4/$9,214,631,546 |
12/$8,390,709,291 |
None |
PGIM Quant Solutions Mid-Cap Core Fund |
PGIM Quantitative Solutions LLC |
Stacie L. Mintz, CFA |
9/$13,144,248,217 |
18/$10,644,072,262 |
24/$4,113,856,550
5/$1,449,209,140 |
|
|
Devang Gambhirwala |
6/$4,861,685,575 |
6/$2,253,362,971 |
25/$4,185,378,963
5/$1,449,209,140 |
Other Funds and Investment Accounts Managed by the Portfolio Managers | |||||
Fund |
Subadviser |
Portfolio
Managers |
Registered
Investment
Companies*/
Total Assets |
Other Pooled
Investment
Vehicles*/
Total Assets |
Other
Accounts*/
Total Assets |
PGIM Jennison Small-Cap Core Equity Fund |
Jennison Associates LLC |
Eric Sartorius, CFA |
2/$2,440,897 |
6/$749,386 |
9/$1,708,486 |
|
|
Jason M. Swiatek, CFA* |
3/$2,352,654 |
7/$847,323 |
10/$1,713,078 |
|
|
Jonathan Shapiro |
4/$2,369,361 |
7/$847,323 |
9/$1,708,486 |
Other Funds and Investment Accounts Managed by the Portfolio Managers* | |||||
Fund |
Subadviser |
Portfolio
Managers |
Registered
Investment
Companies/
Total Assets |
Other Pooled
Investment
Vehicles/
Total Assets |
Other
Accounts/
Total Assets |
PGIM Core Conservative Bond Fund |
PGIM Fixed Income
PGIM Limited |
Stewart Wong, CLU, ChFC |
41/$16,703,159,480 |
22/$15,939,239,071
5/$1,931,475,986 |
151/$12,017,815,954
9/$543,144,770 |
|
|
Gregory Peters |
54/$92,934,567,655 |
4/$40,042,493,317
1/$52,411,317 |
141/$80,140,891,874
8/$5,091,181,024 |
|
|
Michael Marinelli |
1/$2,382,118,080 |
4/$11,863,716,379 |
11/$5,966,131,578 |
PGIM TIPS Fund |
PGIM Fixed Income |
Craig Dewling |
45/$85,006,905,146 |
17/$27,871,036,710
5/$2,398,082,789 |
152/$211,054,236,254
5/$1,492,726,423 |
|
|
Gary Wu, CFA |
33/$9,236,027,711 |
17/$8,851,697,625
5/$1,845,343,087 |
115/$15,810,418,021
5/$405,991,517 |
|
|
Mick Meyler* |
49/$18,209,457,028 |
19/$8,939,687,293
6/$1,897,754,404 |
133/$17,825,576,562
8/$876,082,996 |
Other Funds and Investment Accounts Managed by the Portfolio Managers* | |||||
Fund |
Subadviser |
Portfolio
Managers |
Registered
Investment
Companies/
Total Assets |
Other Pooled
Investment
Vehicles/
Total Assets |
Other
Accounts/
Total Assets |
|
|
Scott Donnelly, CFA* |
46/$17,915,506,461 |
17/$8,851,697,625
5/$1,845,343,087 |
115/$15,810,418,021
5/$405,991,517 |
|
|
Robert Tipp, CFA* |
47/$85,008,977,081 |
18/$27,310,569,727
1/$580,587,686 |
99/$60,003,135,448
8/$5,091,181,024 |
Other Funds and Investment Accounts Managed by the Portfolio Managers | |||||
Fund |
Subadviser |
Portfolio
Managers |
Registered
Investment
Companies*/
Total Assets |
Other Pooled
Investment
Vehicles*/
Total Assets |
Other
Accounts*/
Total Assets |
PGIM Quant Solutions Commodity Strategies
Fund |
PGIM Quantitative Solutions LLC |
Yesim Tokat-Acikel, PhD |
2/$329,362,622 |
1/$202,627,309 |
None |
|
|
Marco Aiolfi, PhD |
2/$329,362,622 |
1/$202,627,309 |
None |
|
|
Edward L. Campbell, CFA |
33/$59,844,150,719 |
6/$2,121,915,052 |
11/$778,933,888 |
|
|
Edward J. Tostanoski III, CFA |
33/$59,844,150,719 |
6/$2,121,915,052 |
11/$778,933,888 |
Personal Investments and Financial Interests of the Portfolio Managers | ||
Subadviser |
Portfolio Managers |
Investments and Other Financial Interests
in the Fund and Similar Strategies* |
PGIM Quantitative Solutions LLC |
Stacie L. Mintz, CFA |
$10,001–50,000 |
|
Edward J. Lithgow, CFA |
None |
|
Edward Louie |
$1-$10,000 |
|
Devang Gambhirwala |
$1-$10,000 |
|
Yesim Tokat-Acikel, PhD |
None |
|
Marco Aiolfi, PhD |
None |
|
Edward L. Campbell, CFA |
None |
|
Edward J. Tostanoski III, CFA |
$1-$10,000 |
Jennison Associates LLC |
Eric Sartorius, CFA |
None |
|
Jason M. Swiatek, CFA |
None |
|
Jonathan Shapiro |
None |
PGIM Fixed Income/PGIM Limited |
Stewart Wong, CLU, ChFC |
None |
|
Gregory Peters |
None |
|
Craig Dewling |
None |
|
Gary Wu, CFA |
None |
Personal Investments and Financial Interests of the Portfolio Managers | ||
Subadviser |
Portfolio Managers |
Investments and Other Financial Interests
in the Fund and Similar Strategies* |
|
Mick Meyler |
None |
|
Scott Donnelly, CFA |
None |
|
Robert Tipp, CFA |
None |
|
Michael Marinelli |
None |
Securities Lending Activities | ||||||
|
PGIM Core
Conservative
Bond Fund |
PGIM
Jennison
Small-Cap
Core Equity
Fund |
PGIM Quant Solutions
Commodity
Strategies Fund |
PGIM Quant Solutions
Mid-Cap
Core Fund |
PGIM Quant Solutions
US Broad Market
Index Fund |
PGIM TIPS Fund |
Gross Income from securities lending activities |
$— |
$19,610 |
$— |
$— |
$71 |
$— |
Fees and/or compensation for securities lending
activities and related services |
|
|
|
|
|
|
Fees paid to securities lending agent from
a revenue split |
$— |
$(1,913) |
$— |
$— |
$— |
$— |
Fees paid for any cash collateral
management service
(including fees deducted from a pooled
cash collateral investment vehicle) |
$— |
$(133) |
$— |
$— |
$(38) |
$— |
Administrative fees not included in
revenue split |
$— |
$— |
$— |
$— |
$— |
$— |
Indemnification fee not included in
revenue split |
$— |
$— |
$— |
$— |
$— |
$— |
Rebate (paid to borrower) |
$— |
$(301) |
$— |
$— |
$(29) |
$— |
Other fees not included in revenue split
(specify) |
$— |
$— |
$— |
$— |
$— |
$— |
Aggregate fees/compensation for securities
lending activities |
$— |
$(2,347) |
$— |
$— |
$(67) |
$— |
Net Income from securities lending activities |
$— |
$17,263 |
$— |
$— |
$4 |
$— |
Fees Paid to PMFS |
|
Fund Name |
Amount |
PGIM Core Conservative Bond Fund |
$398 |
PGIM Jennison Small-Cap Core Equity Fund |
$540 |
PGIM Quant Solutions Commodity Strategies Fund |
$995 |
PGIM Quant Solutions Mid-Cap Core Fund |
$467 |
PGIM Quant Solutions US Broad Market Index Fund |
$502 |
PGIM TIPS Fund |
$395 |
Offering Price Per Share | ||||||
|
PGIM Core
Conservative
Bond Fund |
PGIM
Jennison
Small-Cap
Core Equity
Fund |
PGIM Quant Solutions
Commodity
Strategies Fund |
PGIM Quant Solutions
Mid-Cap
Core Fund |
PGIM Quant Solutions
US Broad Market
Index Fund |
PGIM TIPS Fund |
Class R6 |
|
|
|
|
|
|
NAV and redemption price per Class R6 share |
$9.15 |
$12.28 |
$10.53 |
$10.75 |
$16.84 |
$9.44 |
Class Z |
|
|
|
|
|
|
NAV and redemption price per Class Z share |
N/A |
N/A |
$10.53 |
N/A |
N/A |
N/A |
Brokerage Commissions Paid by the Funds | |||
|
2022 |
2021 |
2020 |
PGIM Core Conservative Bond Fund |
|
|
|
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 |
Brokerage Commissions Paid by the Funds | |||
|
2022 |
2021 |
2020 |
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers |
None |
None |
None |
PGIM Jennison Small-Cap Core Equity Fund |
|
|
|
Total brokerage commissions paid by the Fund |
$21,105 |
$21,730 |
$16,000 |
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 |
PGIM Quant Solutions Commodity Strategies Fund |
|
|
|
Total brokerage commissions paid by the Fund |
$33,161 |
$36,188 |
$28,548 |
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 |
PGIM Quant Solutions Mid-Cap Core Fund |
|
|
|
Total brokerage commissions paid by the Fund |
$2,813 |
$3,642 |
$4,686 |
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 |
PGIM Quant Solutions US Broad Market Index Fund |
|
|
|
Total brokerage commissions paid by the Fund |
$1,499 |
$1,746 |
$1,656 |
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 |
PGIM TIPS Fund |
|
|
|
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 | |||
Fund Name |
Broker |
Equity or Debt |
Amount |
PGIM Quant Solutions US Broad Market Index Fund |
Goldman Sachs & Co. LLC |
Equity |
$135,356 |
|
BOFA securities, inc. |
Equity |
$283,936 |
|
JPMorgan Chase & Co. |
Equity |
$401,222 |
|
Citigroup Global Markets, Inc. |
Equity |
$119,266 |
|
Morgan Stanley & Co. LLC |
Equity |
$139,685 |
|
Wells Fargo Securities LLC |
Equity |
$196,845 |
PGIM Quant Solutions Mid-Cap Core Fund |
None |
None |
None |
PGIM Quant Solutions Commodity Strategies Fund |
None |
None |
None |
PGIM Jennison Small-Cap Core Equity Fund |
None |
None |
None |
PGIM TIPS Fund |
None |
None |
None |
PGIM Core Conservative Bond Fund |
Goldman Sachs & Co. LLC |
Debt |
$346,480 |
|
BOFA Securities, Inc. |
Debt |
$487,385 |
|
JPMorgan Chase & Co. |
Debt |
$694,151 |
|
Barclays Capital, Inc. |
Debt |
$224,885 |
Broker-Dealer Securities Holdings | |||
Fund Name |
Broker |
Equity or Debt |
Amount |
|
Citigroup Global Markets, Inc. |
Debt |
$662,266 |
|
Credit Suisse Securities (USA) LLC |
Debt |
$140,519 |
|
HSBC Securities (USA), Inc |
Debt |
$82,977 |
Portfolio Turnover Rate |
|
|
Fund Name |
2022 |
2021 |
PGIM Core Conservative Bond Fund |
171% |
194% |
PGIM Jennison Small-Cap Core Equity Fund |
49% |
67% |
PGIM Quant Solutions Commodity Strategies Fund |
0% |
0% |
PGIM Quant Solutions Mid-Cap Core Fund |
123% |
135% |
PGIM Quant Solutions US Broad Market Index Fund |
29% |
28% |
PGIM TIPS Fund |
73% |
72% |
Principal Fund Shareholders (as of September 7, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Fund/Class |
PGIM Quant Solutions Commodity Strat – Class Z |
MORGAN STANLEY SMITH BARNEY LLC
FOR THE EXCLUSIVE BENEFIT OF
ITS CUSTOMERS
1 NEW YORK PLAZA 39TH FLOOR
NEW YORK NY 10004 |
16,687.840 |
25.99% |
PGIM Quant Solutions Commodity Strat – Class Z |
CHARLES SCHWAB CO
211 MAIN ST
SAN FRANCISCO CA 94105-1901 |
33,517.134 |
52.20% |
PGIM Quant Solutions Commodity Strat – Class Z |
PERSHING LLC
1 PERSHING PLAZA
JERSEY CITY NJ 07399-0002 |
3,883.619 |
6.05% |
PGIM Quant Solutions Commodity Strat – Class R6 |
PGIM STRATEGIC INVESTMENTS INC
ATTN KRISTEN PEDERSEN
655 BROAD ST 19TH FLOOR 08-19-24
NEWARK NJ 07102-4410 |
1,573,069.159 |
20.93% |
PGIM Quant Solutions Commodity Strat – Class R6 |
PGIM REAL ASSETS FUND
ATTN EDWARD CAMPBELL AND
JOEL M KALLMAN
2 GATEWAY CTR FL 4
NEWARK NJ 07102-5003 |
3,865,862.229 |
51.43% |
PGIM Quant Solutions Commodity Strat – Class R6 |
NATIONAL FINANCIAL SERVICES LLC
FOR EXCLUSIVE BENEFIT OF
OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ 07310 |
524,003.494 |
6.97% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENT PORTFOLIO 16
PGIM INCOME BUILDER FUND
ATTN RITA TUCCI VICE PRESIDENT-OPS
2 GATEWAY CTR FL 6
NEWARK NJ 07102-5008 |
2,443,254.921 |
43.21% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2020
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
681,597.563 |
12.05% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2025
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
750,978.377 |
13.28% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2030
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
520,125.124 |
9.20% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2035
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
291,758.365 |
5.16% |
PGIM Core Conservative Bond – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE INCOME
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
426,312.340 |
7.54% |
Principal Fund Shareholders (as of September 7, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Fund/Class |
PGIM Jennison Small-Cap Core Equity - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2030
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
158,566.491 |
6.62% |
PGIM Jennison Small-Cap Core Equity - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2035
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
149,208.255 |
6.23% |
PGIM Jennison Small-Cap Core Equity - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2040
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
163,880.588 |
6.84% |
PGIM Jennison Small-Cap Core Equity - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2045
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
120,702.824 |
5.04% |
PGIM Jennison Small-Cap Core Equity - Class R6 |
MAC & CO A/C 471255
ATTN MUTUAL FUND OPERATIONS
500 GRANT STREET
ROOM 151-1010
PITTSBURGH, PA 15258 |
1,448,141.406 |
60.45% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2020
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
81,709.366 |
5.98% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2025
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
132,963.033 |
9.73% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2030
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
184,895.059 |
13.53% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2035
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
176,762.136 |
12.94% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2040
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
253,944.281 |
18.58% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2045
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
223,140.054 |
16.33% |
PGIM Quant Solutions Mid-Cap Core - Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2050
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
154,134.397 |
11.28% |
Principal Fund Shareholders (as of September 7, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Fund/Class |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2020
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
234,305.419 |
8.49% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2025
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
382,931.036 |
13.88% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2030
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
486,510.125 |
17.64% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2035
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
429,799.019 |
15.58% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2040
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
422,134.997 |
15.30% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2045
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
294,602.137 |
10.68% |
PGIM Quant Solutions US Broad Market Index – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2050
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
197,657.828 |
7.17% |
PGIM TIPS – Class R6 |
PGIM REAL ASSETS FUND
ATTN EDWARD CAMPBELL AND
JOEL M KALLMAN
2 GATEWAY CTR FL 4
NEWARK NJ 07102-5003 |
3,831,514.627 |
40.34% |
PGIM TIPS – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2020
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
1,112,414.795 |
11.71% |
PGIM TIPS – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2025
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
1,476,811.408 |
15.55% |
PGIM TIPS – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2030
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
1,146,158.807 |
12.07% |
PGIM TIPS – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE 2035
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
557,327.024 |
5.87% |
Principal Fund Shareholders (as of September 7, 2022) | |||
Fund Name and Share Class |
Shareholder Name and Address |
No. of Shares |
% of Fund/Class |
PGIM TIPS – Class R6 |
PRUDENTIAL INVESTMENTS PORTFOLIO 5
PRUDENTIAL DAY ONE INCOME
ATTN JEREMY STEMPIEN
655 BROAD ST 17TH FLOOR
NEWARK NJ 07102-4410 |
596,241.503 |
6.28% |
Control Persons (as of September 7, 2022) | |||
Fund Name |
Shareholder Name and Address |
No. of Shares |
% of Voting Securities |
PGIM Quant Solutions Commodity Strategies Fund |
PGIM REAL ASSETS FUND
ATTN EDWARD CAMPBELL AND
JOEL M KALLMAN
2 GATEWAY CTR FL 4
NEWARK NJ 07102-5003 |
3,865,862.229 |
51.00% |
PGIM Core Conservative Bond Fund |
PRUDENTIAL INVESTMENT PORTFOLIO 16
PGIM INCOME BUILDER FUND
ATTN RITA TUCCI VICE PRESIDENT-OPS
2 GATEWAY CTR FL 6
NEWARK NJ 07102-5008 |
2,443,254.921 |
43.21% |
PGIM Jennison Small-Cap Core Equity Fund |
MAC & CO A/C 471255
ATTN MUTUAL FUND OPERATIONS
500 GRANT STREET
ROOM 151-1010
PITTSBURGH, PA 15258 |
1,448,141.406 |
60.45% |
PGIM TIPS Fund |
PGIM REAL ASSETS FUND
ATTN EDWARD CAMPBELL AND
JOEL M KALLMAN
2 GATEWAY CTR FL 4
NEWARK NJ 07102-5003 |
3,831,514.627 |
40.34% |
Fund |
Post-October Capital Losses |
PGIM Jennison Small-Cap Core Equity Fund |
$1,194,000 |
PGIM Core Conservative Bond Fund |
$1,257,000 |
PGIM TIPS |
$427,000 |
PGIM Quant Solutions Mid-Cap Core Fund |
$299,000 |
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 |
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 Investment Portfolios 2, on behalf of
PGIM Quant Solutions US Broad Market Index Fund
PGIM Quant Solutions Mid-Cap Core Fund
PGIM Jennison Small-Cap Core Equity Fund
PGIM Core Conservative Bond Fund
PGIM TIPS Fund
PGIM Quant Solutions Commodity Strategies Fund |
* |
Stuart S. Parker, President |
Signature |
Title |
Date |
*
Ellen S. Alberding |
Trustee |
|
*
Kevin J. Bannon |
Trustee |
|
*
Scott E. Benjamin |
Trustee |
|
*
Linda W. Bynoe |
Trustee |
|
*
Barry H. Evans |
Trustee |
|
*
Keith F. Hartstein |
Trustee |
|
*
Laurie Simon Hodrick |
Trustee |
|
*
Stuart S. Parker |
Trustee and President, Principal Executive Officer |
|
*
Brian K. Reid |
Trustee |
|
*
Grace C. Torres |
Trustee |
|
*
Christian J. Kelly |
Treasurer, Principal Financial and Accounting
Officer |
|
Signature |
Title |
Date |
*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 |
|
Item 28
Exhibit No. |
Description |
(d)(6)(iii) |
Expense caps for each of PGIM QMA US Broad Market Index Fund, PGIM QMA Mid-Cap Core Equity
Fund, PGIM Jennison Small-Cap Core Equity Fund, PGIM Core Conservative Bond Fund, PGIM TIPS
Fund, and PGIM QMA Commodity Strategies Fund. |
(j) |
Consent of Independent Registered Public Accounting Firm |