Prudential Investment Portfolios, Inc.
PGIM Jennison Growth Fund
Prudential Investment Portfolios 3
PGIM Jennison Focused Growth Fund
Prudential Jennison Blend Fund, Inc.
PGIM Jennison Blend Fund
(each a "Fund" and collectively the "Funds")
Supplement dated March 30, 2023
to each Fund's Currently Effective Summary Prospectus, Prospectus and Statement of Additional Information
You should read this Supplement in conjunction with each Fund's Summary Prospectus, Prospectus and Statement of
Additional Information and retain it for future reference.
Effective immediately, Ms. Rebecca Irwin is removed from each Fund's portfolio management team and Mr. Blair A. Boyer is added to the portfolio management team of PGIM Jennison Focused Growth Fund ("Focused Growth Fund").
To reflect this change, each Fund's Summary Prospectus, Prospectus and Statement of Additional Information (SAI) are hereby revised as follows effective immediately:
1.All references to Ms. Irwin are hereby removed from each Fund's Summary Prospectus, Prospectus and SAI.
2.The tables in the section of Summary Prospectus and Prospectus for Focused Growth Fund entitled "Management of the Fund" are hereby revised by adding the information set forth below with respect to Mr. Boyer:
Investment |
Subadvisers |
Portfolio |
Title |
Service Date |
Managers |
|
Managers |
|
|
|
|
|
|
|
PGIM Investments |
Jennison |
Blair A. Boyer |
Managing Director |
March 2023 |
LLC |
Associates LLC |
|
|
|
3.The section of the Focused Growth Fund's Prospectus entitled "How the Fund is Managed – Portfolio Managers", is hereby revised by adding the following professional biography for Mr. Boyer:
Blair A. Boyer is a Managing Director, Co-Head of Large Cap Growth Equity and a large cap growth equity portfolio manager. He joined Jennison in March 1993 as an international equity analyst and joined the large cap growth team as a portfolio manager in 2003. Prior to joining Jennison, he managed international equity portfolios at Arnhold and S. Bleichroeder for five years. Prior to that, he was a research analyst and then a senior portfolio manager at Verus Capital. Mr. Boyer earned a BA in economics from Bucknell University and an MBA from The New York University Stern School of Business.
LR1431
4.The table in the section of the Focused Growth Fund's SAI entitled "Management & Advisory Arrangements - The
Fund's Portfolio Managers: Information About Other Accounts Managed" is hereby revised by adding the following information pertaining to Mr. Boyer:
Fund |
Subadviser |
Portfolio |
Registered |
Other Pooled |
Other Accounts/ |
|
|
Managers |
Investment |
Investment Vehicles/ |
Total Assets |
|
|
|
Companies/Total |
Total Assets |
|
|
|
|
Assets |
|
|
Focused |
Jennison |
Blair A. |
17/$50,982,849,000 |
8/$9,561,855,000 |
28/$7,172,357,000 |
Associates |
Boyer* |
1/$9,668,986,000 |
|
| |
Growth |
|
| |||
LLC |
|
|
|
| |
Fund |
|
|
|
| |
|
|
|
|
|
*Information is as of February 28, 2023.
5.The table in the section of the Focused Growth Fund's SAI entitled "Management & Advisory Arrangements - The Fund's Portfolio Managers: Personal Investments and Financial Interests" is hereby revised by adding the following information pertaining to Mr. Boyer:
Personal Investments and Financial Interests of the Portfolio Managers
Fund |
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
|
Interests |
|
|
|
in the Fund and Similar Strategies* |
Focused Growth Fund |
Jennison Associates |
Blair A. Boyer** |
None |
|
LLC |
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include the indicated Fund and all other investment accounts which are managed by, or have an individual portion or sleeve managed by, the same portfolio manager that utilize mandates, investment objectives or investment strategies that are similar to those of the Fund.
Focused Growth Fund:
Other Investment Accounts" in similar strategies includes other mutual funds, including registered investment companies, insurance company separate accounts, and collective and commingled trusts. "Investments" include holdings in the Fund and in investment accounts in similar strategies, including shares or units that may be held through a 401(k) or other retirement plan. "Other Financial Interests" include an investment professional's notional investments in the Fund through a deferred compensation plan for Jennison employees where such notional investments track the performance of the Fund and are subject to increase or decrease based on the annual performance of the Fund.
The dollar range for Blair A. Boyer's investment in the Fund as of February 28, 2023. is as follows: None. ** Information is as of February 28, 2023.
LR1431