PGIM JENNISON SMALL-CAP CORE EQUITY FUND
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R6: PQJCX
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SUMMARY PROSPECTUS | September 29, 2026
Before you invest, you may want to review the Fund's Prospectus, which contains more
information about the Fund and its risks. You can find the Fund's Prospectus, Statement of Additional Information (“SAI”), Annual Report and other information about the Fund online at https://www.pgim.com/mutual-fund-documents. You can also get this information at no cost by calling 1-800-225-1852 or by sending
an e-mail to: prospectus@pgim.com. The Fund's Prospectus and SAI, both dated September
29, 2026, as supplemented or amended from time to time, and the Fund's Form N-CSR, dated July 31, 2026, are all incorporated by reference into (legally made a part
of) this
Summary Prospectus.
INVESTMENT OBJECTIVE
The Fund’s investment objective is to outperform the Russell 2000 Index.
FUND FEES AND EXPENSES
The tables below describe the sales charges, fees and expenses that you may pay if
you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial
intermediaries, which are not reflected in the tables and examples below.
Shareholder Fees (fees paid directly from your investment)
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Class R6
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Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
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None
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Maximum deferred sales charge (load) (as a percentage of the lower of the original
purchase price or the net asset value at redemption)
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None
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Maximum sales charge (load) imposed on reinvested dividends and other distributions
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None
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Redemption fee
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None
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Exchange fee
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None
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Maximum account fee (accounts under $10,000)
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None
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of
the value of your investment)
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Class R6
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Management fee
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0.75%
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Distribution and service (12b-1) fees
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None
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Other expenses
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1.28%
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Total annual Fund operating expenses
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2.03%
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Fee waiver and/or expense reimbursement
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(1.08)%
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Total annual Fund operating expenses after fee waiver and/or expense reimbursement(1)
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0.95%
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(1) PGIM Investments LLC (“PGIM Investments” or the “Manager”) has contractually agreed, through November 30, 2027, to limit Total Annual Fund Operating Expenses after fee waivers and/or expense reimbursements to 0.95% of average daily net assets for Class R6 shares.
This contractual waiver excludes interest, brokerage, taxes (such as income and foreign
withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses,
extraordinary expenses, and certain other Fund expenses such as dividend and interest
expense and broker charges on short sales. Expenses waived or reimbursed by the Manager
for the purpose of preventing the expenses from exceeding a stated expense ratio limit
may be recouped by the Manager within the same fiscal year in which such waiver and/or reimbursement
is made. Any such recoupment is limited to the lesser of the amounts that would be
recoupable under: (i) the expense limitation in effect at the time the waiver and/or
reimbursement was made or (ii) the expense limitation in effect at the time of recoupment.
This waiver may not be terminated prior to November 30, 2027 without the prior approval of the Fund’s Board of Trustees.
Example. The following hypothetical example is intended to help you compare the cost of investing
in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in the
Fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It
assumes a 5% return on your investment each year, that the Fund's operating expenses remain the same (except that fee waivers
or reimbursements, if any, are only reflected in the 1-Year figures) and that all dividends and distributions are reinvested.
Your actual costs may be higher or lower.
To enroll in e-delivery, go to pgim.com/us/en/intermediary/resources/featured/e-delivery
MF242A
