Morningstar Advisor - October/November 2012 - (Page 16c)

FIXED INCOME: Income generation potential for a variety of market environments Morningstar Overall Rating™ for Class Z shares as of 6/30/2012. Morningstar measures risk-adjusted returns. The overall rating is a weighted average based on a fund’s 3-, 5-, and 10-year star rating. (PDBZX) (PHYZX) PRUDENTIAL TOTAL RETURN bOND FUND, INC. Among 1,015 Intermediate-Term Bond funds. The 3-, 5-, and 10-year ratings are 5 stars out of 1,015 funds, 5 stars out of 880 funds, and 5 stars out of 606 funds, respectively. PRUDENTIAL HIGH-YIELD FUND Among 512 High Yield Bond funds. The 3-, 5-, and 10-year ratings are 4 stars out of 512 funds, 5 stars out of 449 funds, and 5 stars out of 307 funds, respectively. (PIFZX) (PZTRX) PRUDENTIAL SHORT-TERM CORPORATE bOND FUND, INC. Among 352 Short-Term Bond funds. The 3-, 5-, and 10-year ratings are 4 stars out of 352 funds, 5 stars out of 324 funds, and 5 stars out of 190 funds, respectively. PRUDENTIAL GLObAL TOTAL RETURN FUND Among 244 World Bond funds. The 3-, 5-, and 10-year ratings are 4 stars out of 244 funds, 4 stars out of 178 funds, and 3 stars out of 123 funds, respectively. (PCIZX) (PGVZX) PRUDENTIAL CA MUNICIPAL INCOME FUND Among 135 Muni California Long funds. The 3-, 5-, and 10-year ratings are 4 stars out of 135 funds, 5 stars out of 125 funds, and 5 stars out of 101 funds, respectively. PRUDENTIAL GOVERNMENT INCOME FUND Among 319 Intermediate Government funds. The 3-, 5-, and 10-year ratings are 4 stars out of 319 funds, 4 stars out of 294 funds, and 4 stars out of 248 funds, respectively. (PHIZX) (DNMZX) PRUDENTIAL MUNICIPAL HIGH-INCOME FUND Among 140 High Yield Muni funds. The 3-, 5-, and 10-year ratings are 3 stars out of 140 funds, 5 stars out of 125 funds, and 5 stars out of 87 funds, respectively. PRUDENTIAL NATIONAL MUNICIPALS FUND Among 218 Muni National Long funds. The 3-, 5-, and 10-year ratings are 3 stars out of 218 funds, 4 stars out of 204 funds, and 4 stars out of 173 funds, respectively. DIVIDEND-ORIENTED EQUITIES & REITs: Income with the potential for growth and inflation protection (PURZX) (JDEZX) PRUDENTIAL GLObAL REAL ESTATE FUND Among 152 Global Real Estate funds. The 3-, 5-, and 10-year ratings are 4 stars out of 152 funds, 4 stars out of 111 funds, and 5 stars out of 26 funds, respectively. PRUDENTIAL JENNISON EQUITY INCOME FUND Among 1,082 Large Value funds. The 3-year rating is 4 stars out of 1,082 funds. Star ratings shown are for Class Z shares, which are available to individual investors through certain retirement and wrap fee programs, and to institutions at an investment minimum of $10,000,000. Performance by share class may vary. In addition to the ones shown above, other classes, which contain either a sales load or a contingent deferred sales charge, are also available. These expenses will generally lower total fund return. Please see the prospectus for additional information about fees, expenses and investor eligibility requirements. Some Morningstar Ratings may not be customarily based on adjusted historical returns. If so, an investment’s independent Morningstar Rating metric is compared against the retail mutual fund universe breakpoints to determine its hypothetical rating for certain time periods. For each fund with a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Funds were rated against U.S.-domiciled funds. Other share classes may have different performance characteristics. Past performance does not guarantee future results. © 2012 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, member SIPC. Prudential Investments, Prudential, Jennison Associates, Jennison, the Prudential logo, Bring Your Challenges, and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide. 0224586-00002-00

Table of Contents for the Digital Edition of Morningstar Advisor - October/November 2012

Morningstar Advisor - October/November 2012
Contents
Contributors
Letter From the Editor
Ill Communication
Do You Use Factor-Investing Strategies?
Practicing What She Preaches
How to Determine the True Price of ETFs
The Quant Factor
Managers Dispute the Death of Equities
Investments á la Carte
Investment Briefs
Five Inconvenient Truths of Manager Research
Health Care’s Outlook Clarifies
Exploring the World of Factors
Uncloaking the Alpha Machine
Factor Strategies Gain Footholds in Practices
Big Mo
Fitting Factors Into the Formula
Clients Have a Friend in Luther King
Less-Liquid Holdings Mean More-Solid Results
Retirement-Withdrawal Strategies Quantified
Amid Turmoil, Don’t Discount Foreign Equities
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
Should I Stay or Should I Go?

Morningstar Advisor - October/November 2012