Prudential Investment Portfolios, Inc.
PGIM Balanced Fund
Prudential Investment Portfolios 3
PGIM Strategic Bond Fund
Prudential Investment Portfolios 9
PGIM Absolute Return Bond Fund
Prudential Investment Portfolios, Inc. 17
PGIM ESG Short Duration Multi-Sector Bond Fund
PGIM Short Duration Multi-Sector Bond Fund
PGIM ESG Total Return Bond Fund
PGIM Total Return Bond Fund
PGIM ETF Trust
PGIM Short Duration Multi-Sector Bond ETF
PGIM Total Return Bond ETF
The Target Portfolio Trust
PGIM Core Bond Fund
(each a "Fund" and collectively the "Funds")
Supplement dated September 29, 2023
to each Funds' Currently Effective Statement of Additional Information
You should read this Supplement in conjunction with each Funds' Statement of Additional Information and retain it for
future reference.
Effective immediately, Mr. Matthew Angelucci and Mr. Tyler Thorn are added to each Funds' portfolio management teams.
To reflect this change, each Fund's Statement of Additional Information (SAI) is hereby revised as follows effective immediately:
1.The table in the section of the PGIM Balanced 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. Angelucci and Mr. Thorn:
PGIM Balanced Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$93,308,556,375 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
PGIM Fixed |
|
41/$87,050,087,324 |
17/$25,691,417,195 |
103/$53,166,183,875 |
|
|
1/$59,779,608 |
3/$476,847,821 | |
Income |
Tyler Thorn* |
| ||
|
|
|
* Information is as of August 31, 2023.
2.The table in the section of the PGIM Balanced 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. Angelucci and Mr.Thorn:
LR1450
PGIM Balanced Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
3.The table in the section of the PGIM Strategic Bond 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. Angelucci and Mr.Thorn:
PGIM Strategic Bond Fund
Subadviser |
Portfolio |
Registered Investment |
|
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
|
Investment Vehicles/ |
Total Assets |
|
|
Assets |
|
Total Assets |
|
|
|
54/$92,650,697,960 |
|
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 | |
|
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
|
41/$86,392,228,909 |
17/$25,691,417,195 |
103/$53,166,183,875 | |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 | |
|
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
|
* Information is as of August 31, 2023.
4.The table in the section of the PGIM Strategic Bond 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. Angelucci and Mr. Thorn:
PGIM Strategic Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
LR1450
5.The table in the section of the PGIM Absolute Return Bond 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. Angelucci and Mr. Thorn:
PGIM Absolute Return Bond Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$92,600,510,736 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$86,342,041,685 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
*Information is as of August 31, 2023.
6.The table in the section of the PGIM Absolute Return Bond 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. Angelucci and Mr. Thorn:
PGIM Absolute Return Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
7.The table in the section of the PGIM ESG Short Duration Multi-Sector Bond 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. Angelucci and Mr. Thorn:
PGIM ESG Short Duration Multi-Sector Bond Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$93,652,873,228 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$87,394,404,177 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
* Information is as of August 31, 2023.
8.The table in the section of the PGIM ESG Short Duration Multi-Sector Bond 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. Angelucci and Mr. Thorn:
LR1450
PGIM ESG Short Duration Multi-Sector Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
9.The table in the section of the PGIM Short Duration Multi-Sector Bond 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. Angelucci and Mr. Thorn:
PGIM Short Duration Multi-Sector Bond Fund
Subadviser |
Portfolio |
Registered Investment |
|
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
|
Investment Vehicles/ |
Total Assets |
|
|
Assets |
|
Total Assets |
|
|
|
54/$90,772,903,745 |
|
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 | |
|
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
|
41/$84,514,434,694 |
17/$25,691,417,195 |
103/$53,166,183,875 | |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 | |
|
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
|
* Information is as of August 31, 2023.
10.The table in the section of the PGIM Short Duration Multi-Sector Bond 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. Angelucci and Mr. Thorn:
PGIM Short Duration Multi-Sector Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
LR1450
11.The table in the section of the PGIM ESG Total Return Bond 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. Angelucci and Mr. Thorn:
PGIM ESG Total Return Bond Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$93,656,401,116 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$87,397,932,065 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
* Information is as of August 31, 2023.
12.The table in the section of the PGIM ESG Total Return Bond 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. Angelucci and Mr. Thorn:
PGIM ESG Total Return Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
13.The table in the section of the PGIM Total Return Bond 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. Angelucci and Mr. Thorn:
PGIM Total Return Bond Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$51,686,074,951 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$45,427,605,900 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
* Information is as of August 31, 2023.
14.The table in the section of the PGIM Total Return Bond 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. Angelucci and Mr. Thorn:
LR1450
PGIM Total Return Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
15.The table in the section of the PGIM Short Duration Multi-Sector Bond ETF'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. Angelucci and Mr. Thorn:
PGIM Short Duration Multi-Sector Bond ETF
Subadviser |
Portfolio |
Registered Investment |
|
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
|
Investment Vehicles/ |
Total Assets |
|
|
Assets |
|
Total Assets |
|
|
|
54/$93,653,771,786 |
|
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 | |
|
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
|
41/$87,395,302,735 |
17/$25,691,417,195 |
103/$53,166,183,875 | |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 | |
|
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
|
* Information is as of August 31, 2023.
16.The table in the section of the PGIM Short Duration Multi-Sector Bond ETF'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. Angelucci and Mr. Thorn:
PGIM Short Duration Multi-Sector Bond ETF
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
PGIM Fixed Income |
Tyler Thorn** |
None |
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
LR1450
17.The table in the section of the PGIM Total Return Bond ETF'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. Angelucci and Mr. Thorn:
PGIM Total Return Bond ETF
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$93,575,632,261 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$87,317,154,210 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
* Information is as of August 31, 2023.
18.The table in the section of the PGIM Total Return Bond ETF'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. Angelucci and Mr. Thorn:
PGIM Total Return Bond ETF
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
19.The table in the section of the PGIM Core Bond 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. Angelucci and Mr. Thorn:
PGIM Core Bond Fund
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
54/$92,099,548,060 |
27/$28,024,599,647 |
148/$ 74,841,987,892 |
PGIM Fixed |
Matthew |
|
5/$1,821,169,285 |
11/$7,486,872,094 |
|
|
| ||
Income |
Angelucci* |
|
|
|
|
|
41/$85,841,079,009 |
17/$25,691,417,195 |
103/$53,166,183,875 |
PGIM Fixed |
|
|
1/$59,779,608 |
3/$476,847,821 |
|
|
|
| |
Income |
Tyler Thorn* |
|
|
|
* Information is as of August 31, 2023.
20.The table in the section of the PGIM Core Bond 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. Angelucci and Mr. Thorn:
LR1450
PGIM Core Bond Fund
Personal Investments and Financial Interests of the Portfolio Managers
Subadviser |
Portfolio Managers |
Investments and Other Financial |
|
|
Interests |
|
|
in the Fund and Similar |
|
|
Strategies* |
PGIM Fixed Income |
Matthew Angelucci** |
None |
|
|
|
PGIM Fixed Income |
Tyler Thorn** |
None |
|
|
|
*"Investments and Other Financial Interests in the Fund and Similar Strategies" include direct investment in the Funds and investment in all other investment accounts which are managed by the same portfolio manager that utilize investment strategies, investment objectives and policies that are similar to those of the Funds. "Other financial interests" are interests related to awards under a targeted long-term incentive plan, the value of which is subject to increase or decrease based on the performance of the Funds. "Other Investment Accounts" in similar strategies include other PGIM funds, insurance company separate accounts, and collective and commingled trusts.
The dollar range for Matthew Angelucci's investment in the Fund as of August 31, 2023 is as follows: None.
The dollar range for Tyler Thorn's investment in the Fund as of August 31, 2023 is as follows: None. **Information is as of August 31, 2023.
LR1450