Morningstar Magazine - October/November 2017 - 16

T:8.75"
S:8.25"

PGIM INVESTMENTS

1

73 funds domiciled in the U.S. and 24 funds domiciled in Ireland. Ireland funds cannot be purchased by U.S. investors.

9 out of 10 fixed income funds. Ranking based on Class Z share fixed income funds 10-year history. Rankings for Class Z share
fixed income funds that rank top 50% or better within their respective Morningstar Categories over trailing 1-, 3-, & 5-year
periods are 11/18 funds, 14/16 funds, and 11/13 funds, respectively. Source: Morningstar as of 6/30/17.
2

Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary
prospectus contain this and other
information
about the fund. Contact your financial professional for a prospectus or summary
high
yield ("junk")
prospectus., Read
it
carefully
before
investing.
which are subject to prepayment risks;

leveraging
which mayvarious
magnifyinstitutional
losses; investors and investors inDiscloOnly eligibletechniques,
investors, including
1 certain mutual fund wrap or asset allocation
asset-backed
securities,
which
areZsubject
greater
programs, may
purchase
Class
shares.toSee
the prospectus for eligibility requirements.
sure_Morningand
their
value
will
decline
as
interest
rates
rise;
The Funds may invest in foreign securities, which are subject to currency fluctuation and political uncertainty; high yield ("junk")
Studio Valeria Moumdjian

B:11"

T:10.75"

S:10.25"

# A4848 which are subject to prepayment risks;
bonds, which are subject to greater credit and market risks; mortgage-relatedJobsecurities,
Date
9-1-2017 12:12 PM
short sales, which involve costs and the risk of potentially unlimited losses; leveraging
techniques, which may magnify losses;
foreign
securities,
which
are
subject
to
currency
fluctuation
and
political
uncertainty;
high
yield
("junk")which are subject to greater
derivative securities, which may carry market, credit, and liquidity risks; asset-backed
securities,
Live
8.25" x 10.25"
mortgage-related
which
subject
to 8.75"
prepayment
Trim their
x 10.75" willrisks;
credit risks. Fixed income investments
are subjectsecurities,
to interest
rateare
risk,
and
value
decline as interest rates rise;
Bleedmay
9" xmagnify
11"
leveraging
losses; does not guarantee future Disclodiversification does not assure a profit or protect against
losstechniques,
in declining which
markets.
Past
performance
1
Gutter None
which
may carry market, credit, and liquidity risks; asset-backed securities, which
subject to greater
results.
Pubare Morningstar
Dateinterest
None
interest rate risk, and their value will declineP.as
rates rise;
Some Morningstar Ratings may not be customarily based on adjusted historical returns.
If so, an investment's independent MorningstarStudio
Approvals:
does not assure a profit or protect against loss in declining markets. Past performance does
not guarantee future
Rating metric is compared against the retail mutual fund universe breakpoints to determine
itsGCD
hypothetical rating for certain time periods.Job # A4848
__________
__________
CD
The Morningstar Rating for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variableDate
__________ AD
life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) __________
with atCW
least a three-year history. Exchange-tradedLive
funds and open-ended mutual funds are considered a single population for comparative
purposes.
It is calculated based on a MorningstarTrim
__________
AE
Bleed 9" x 11"
__________
Trafficperformance, placing more emphasis on
Risk-Adjusted Return measure that accounts for variation in a managed product's monthly
excess
Gutter None
Proof
downward variations and rewarding consistent performance. The top 10% of products__________
in each
product category receive 5 stars, the nextPub
P. Date None
22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars,
None the bottom 10% receive 1 star. The Overall
Scaled and
Approvals:
Morningstar Rating for a managed product is derived from a weighted average of thePrudential
performance
figures associated with its three-, five-, __________ GCD
Advertising
and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year
rating for 36-59 months of total returns, 60% __________ CD
973-802-7361
five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year __________ AD
__________ CW
rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year __________ AE
period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
__________
B:11"

T:10.75"

S:10.25"

__________ Proof

The Funds' Overall, 3-, 5-, and 10-year Star Ratings/Funds in Category are as follows: as of 6/30/2017, Prudential Total Return Bond Fund
was rated 5 stars out of 856 funds, 5 stars out of 856 funds, 5 stars out of 767 funds, and 5 stars out of 540 funds, respectively; PrudentialScaled None
High Yield Fund was rated 5 stars out of 590 funds, 5 stars out of 590 funds, 4 stars out of 474 funds, and 5 stars out of 317 funds,
973-802-7361
respectively.
© 2017 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 (PIMS). PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a
registered investment advisor. PIMS and PGIM are Prudential Financial companies. © 2017 Prudential Financial, Inc. and its related entities.
PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
These materials are for informational or educational purposes only. The information is not intended as investment advice and is not a
recommendation about managing or investing assets. In providing these materials PGIM Investments is not acting as your fiduciary as
defined by the Department of Labor.
0296643-00006-00

9/1/17 12:12 PM



Table of Contents for the Digital Edition of Morningstar Magazine - October/November 2017

Contents
Morningstar Magazine - October/November 2017 - Cover1
Morningstar Magazine - October/November 2017 - Cover2
Morningstar Magazine - October/November 2017 - 1
Morningstar Magazine - October/November 2017 - 2
Morningstar Magazine - October/November 2017 - Contents
Morningstar Magazine - October/November 2017 - 4
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Morningstar Magazine - October/November 2017 - Cover3
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