PGIM GOVERNMENT MONEY MARKET FUND | ||||
Purchase A: PBMXX | Exchange A: MJAXX | Exchange B: MJBXX | Exchange C: MJCXX | Purchase Z: PMZXX |
As with all mutual funds, the Securities and Exchange Commission has not approved or disapproved the Fund's shares, nor has the SEC determined that this prospectus is complete or accurate. It is a criminal offense to state otherwise.Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS), member SIPC. PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment adviser. PIMS and PGIM are Prudential Financial companies. © 2018 Prudential Financial, Inc. and its related entities. The Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. | ![]() |
Class A | Class B | Class C | Class Z | |
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | None | None | None | None |
Maximum deferred sales charge (load) (as a percentage of the lower of original purchase price or net asset value at redemption) | None | None | None | None |
Maximum sales charge (load) imposed on reinvested dividends and other distributions | None | None | None | None |
Redemption fee | None | None | None | None |
Exchange fee | None | None | None | None |
Maximum account fee (accounts under $10,000) | $15 | $15 | $15 | None* |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||
Class A | Class B | Class C | Class Z | |
Management fees | 0.320% | 0.32% | 0.32% | 0.32% |
Distribution and service (12b-1) fees | 0.125% | None | None | None |
Other expenses(1) | 0.220% | 0.42% | 0.35% | 0.12% |
Total annual Fund operating expenses | 0.665% | 0.74% | 0.67% | 0.44% |
Share Class | 1 Year | 3 Years | 5 Years | 10 Years |
Class A | $68 | $213 | $370 | $828 |
Class B | $76 | $237 | $411 | $918 |
Class C | $68 | $214 | $373 | $835 |
Class Z | $45 | $141 | $246 | $555 |
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Average Annual Total Returns % (as of 12-31-16)1 | |||
Return Before Taxes | One Year | Five Years | Ten Years |
Class A shares | 0.02% | 0.01% | 0.77% |
Class B shares | 0.02% | 0.01% | 0.80% |
Class C shares | 0.02% | 0.01% | 0.80% |
Class Z shares | 0.02% | 0.01% | 0.80% |
7 Day Current Yield % (as of 12-31-16)1 | |
Class A shares | 0.01% |
Class B shares | 0.01% |
Class C shares | 0.01% |
Class Z shares | 0.01% |
Investment Manager | Subadviser |
PGIM Investments LLC | PGIM Fixed Income |
Class A | Class C | Class Z | |
Minimum initial investment* | $2,500 | $2,500 | Institutions: $5 million Group Retirement Plans: None |
Minimum subsequent investment* | $100 | $100 | None |
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Principal & Non-Principal Strategies: Investment Limits |
■ Cash, government securities, and/or repurchase agreements that are fully collateralized with cash or government securities: Up to 100% of investable assets ■ When-issued and delayed delivery securities: Up to 15% of investable assets■ Illiquid Securities: Up to 5% of total assets |
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Expected Distribution Schedule* | |
Net Investment Income | Monthly |
Short-Term Capital Gains | Monthly |
Long-Term Capital Gains | Annually |
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Share Class | Eligibility |
Class A | Individual investors |
Class B | Certain types of exchanges from other funds and certain other investors |
Class C | Certain types of exchanges from other funds and certain other investors |
Class Z | Certain group retirement plans, institutional investors and certain other investors |
■ | through the exchange of Class B and Class C shares of other mutual funds distributed by PIMS without the imposition of a contingent deferred sales charge (CDSC) at the time of the exchange; |
■ | through the exchange of certain other money market funds distributed by PIMS that were acquired by an investor prior to January 22, 1990 in exchange for shares of a mutual fund subject to a CDSC (minimum initial investment of $1,000 with no minimum subsequent investment); or |
■ | by certain retirement and employee savings plans with the proceeds from the sale of shares of The Target Portfolio Trust (no minimum initial or subsequent investment). |
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Class A** | Class B* | Class C** | Class Z** | |
Minimum purchase amount | $2,500 | $2,500 | $2,500 | Institutions: $5 million Group Retirement Plans: None |
Minimum amount for subsequent purchases | $100 | $100 | $100 | None |
Maximum initial sales charge | None | None | None | None |
Contingent Deferred Sales Charge (CDSC) (as a percentage of the lower of original purchase price or net asset value at redemption) | None | None | None | None |
Annual distribution and service (12b-1) fees (shown as a percentage of average daily net assets) | 0.125% | None | None | None |
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Class A | Class C | Class Z | Class R | |
Existing Investors (Group Retirement Plans, IRAs, and all other investors) | No Change | No Change | No Change | No Change |
New Group Retirement Plans | Closed to group retirement plans wishing to add the share classes as new additions to plan
menus on or about June 1, 2018, subject to certain exceptions below | |||
New IRAs | No Change | No Change | No Change | Closed to all new investors on or about June 1, 2018, subject to certain exceptions below |
All Other New Investors | No Change | No Change | No Change |
■ | Eligible group retirement plans that are exercising their one-time 90-day repurchase privilege in the Fund will be permitted to purchase such share classes. |
■ | Plan participants in a group retirement plan that offers Class A, Class C, Class R or Class Z shares of the Fund, as applicable, as of the Effective Date will be permitted to purchase such share classes of the Fund, even if the plan participant did not own shares of that class of the Fund as of the Effective Date. |
■ | Certain new group retirement plans or their agents will be permitted to offer such share classes of the Fund after the Effective Date, provided that the plan or its agent has or is actively negotiating a contractual agreement with the Fund’s distributor or service provider to offer such share classes of the Fund prior to or on the Effective Date. |
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■ | New group retirement plans or their agents that combine with, replace, are otherwise affiliated with, or have third party arrangements with, a current plan that invests in such share classes prior to or on the Effective Date will be permitted to purchase such share classes. |
■ | The Fund also reserves the right to refuse any purchase order that might disrupt management of the Fund or to otherwise modify the closure policy at any time on a case-by-case basis. |
■ | Mutual fund “wrap” or asset allocation programs where the sponsor places fund trades, links its clients' accounts to a master account in the sponsor's name and charges its clients a management, consulting or other fee for its services; or |
■ | Mutual fund “supermarket” programs where the sponsor links its clients' accounts to a master account in the sponsor's name and the sponsor charges a fee for its services. |
■ | Certain participants in the MEDLEY Program (group variable annuity contracts) sponsored by Prudential for whom Class Z shares of the PGIM Funds are an available option; |
■ | Current and former Directors/Trustees of mutual funds managed by PGIM Investments or any other affiliate of Prudential; |
■ | Current and former employees (including their spouses, children and parents) of Prudential and its affiliates; former employees must have an existing investment in the Fund; |
■ | Prudential (including any program or account sponsored by Prudential or an affiliate that includes the Fund as an available option); |
■ | PGIM Funds, including PGIM funds-of-funds; |
■ | Qualified state tuition programs (529 plans); and |
■ | Investors working with fee-based consultants for investment selection and allocations. |
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■ | You are selling more than $100,000 of shares; |
■ | You want the redemption proceeds made payable to someone that is not in the Transfer Agent’s records; |
■ | You want the redemption proceeds sent to an address that is not in the Transfer Agent’s records; |
■ | You are a business or a trust; or |
■ | You are redeeming due to the death of the shareholder or on behalf of the shareholder. |
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Class A Shares | |||||
Year Ended July 31, | |||||
2017(c) | 2016(c) | 2015 | 2014 | 2013 | |
Per Share Operating Performance: | |||||
Net Asset Value, Beginning of Year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Net investment income (loss) and net realized gain (loss) on investment transactions | .001 | –(b) | –(b) | –(b) | –(b) |
Dividends to shareholders | (.001) | –(b) | –(b) | –(b) | –(b) |
Net asset value, end of year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Total Return(a) | .05% | .01% | .01% | .01% | .01% |
Ratios/Supplemental Data: | |||||
Net assets, end of year (000) | $433,113 | $504,907 | $485,752 | $479,275 | $513,602 |
Average net assets (000) | $478,071 | $513,050 | $485,946 | $511,433 | $514,563 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement | .56% | .31% | .16% | .14% | .19% |
Expenses before waivers and/or expense reimbursement | .62% | .60% | .62% | .59% | .60% |
Net investment income (loss) | .05% | .01% | .01% | .01% | .01% |
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Class B Shares | |||||
Year Ended July 31, | |||||
2017(c) | 2016(c) | 2015 | 2014 | 2013 | |
Per Share Operating Performance: | |||||
Net Asset Value, Beginning of Year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Net investment income (loss) and net realized gain (loss) on investment transactions | .001 | –(b) | –(b) | –(b) | –(b) |
Dividends to shareholders | (.001) | –(b) | –(b) | –(b) | –(b) |
Net asset value, end of year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Total Return(a) | .09% | .01% | .01% | .01% | .01% |
Ratios/Supplemental Data: | |||||
Net assets, end of year (000) | $15,713 | $18,821 | $20,868 | $25,406 | $32,086 |
Average net assets (000) | $17,505 | $20,770 | $23,124 | $29,218 | $32,953 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement | .52% | .31% | .16% | .14% | .19% |
Expenses before waivers and/or expense reimbursement | .52% | .48% | .50% | .47% | .48% |
Net investment income (loss) | .08% | .01% | .01% | .01% | .01% |
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Class C Shares | |||||
Year Ended July 31, | |||||
2017(c) | 2016(c) | 2015 | 2014 | 2013 | |
Per Share Operating Performance: | |||||
Net Asset Value, Beginning of Year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Net investment income (loss) and net realized gain (loss) on investment transactions | .001 | –(b) | –(b) | –(b) | –(b) |
Dividends to shareholders | (.001) | –(b) | –(b) | –(b) | –(b) |
Net asset value, end of year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Total Return(a) | .09% | .01% | .01% | .01% | .01% |
Ratios/Supplemental Data: | |||||
Net assets, end of year (000) | $12,632 | $15,650 | $18,271 | $16,950 | $22,504 |
Average net assets (000) | $14,606 | $19,016 | $16,085 | $20,204 | $16,670 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement | .52% | .31% | .16% | .14% | .19% |
Expenses before waivers and/or expense reimbursement | .52% | .48% | .50% | .47% | .48% |
Net investment income (loss) | .08% | .01% | .01% | .01% | .01% |
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Class Z Shares | |||||
Year Ended July 31, | |||||
2017(c) | 2016(c) | 2015 | 2014 | 2013 | |
Per Share Operating Performance: | |||||
Net Asset Value, Beginning of Year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Net investment income (loss) and net realized gain (loss) on investment transactions | .001 | –(b) | –(b) | –(b) | –(b) |
Dividends to shareholders | (.001) | –(b) | –(b) | –(b) | –(b) |
Net asset value, end of year | $1.000 | $1.000 | $1.000 | $1.000 | $1.000 |
Total Return(a) | .09% | .01% | .01% | .01% | .01% |
Ratios/Supplemental Data: | |||||
Net assets, end of year (000) | $88,718 | $110,920 | $127,826 | $100,226 | $109,562 |
Average net assets (000) | $98,278 | $115,952 | $125,188 | $104,374 | $110,803 |
Ratios to average net assets: | |||||
Expenses after waivers and/or expense reimbursement | .52% | .31% | .16% | .14% | .19% |
Expenses before waivers and/or expense reimbursement | .52% | .48% | .50% | .47% | .48% |
Net investment income (loss) | .08% | .01% | .01% | .01% | .01% |
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FOR MORE INFORMATION Please read this Prospectus before you invest in the Fund and keep it for future reference. For information or shareholder questions contact: | |
■ MAIL Prudential Mutual Fund Services LLC PO Box 9658 Providence, RI 02940■ WEBSITE www.pgiminvestments.com | ■ TELEPHONE (800) 225-1852 (973) 367-3529 (from outside the US) |
■ E-DELIVERY To receive your mutual fund documents on-line, go to www.pgiminvestments.com/edelivery and enroll. Instead of receiving printed documents by mail, you will receive notification via email when new materials are available. You can cancel your enrollment or change your email address at any time by visiting the website address above. |
The Annual and Semi-Annual Reports and the SAI contain additional information about the Fund. Shareholders may obtain free copies of the SAI, Annual Report and Semi-Annual Report as well as other information about the Fund and may make other shareholder inquiries through the telephone number, address and website listed above. | |
■ STATEMENT OF ADDITIONAL INFORMATION (SAI) (incorporated by reference into this Prospectus) ■ SEMI-ANNUAL REPORT | ■ ANNUAL REPORT (contains a discussion of the market conditions and investment strategies that significantly affected the Fund's performance during the last fiscal year) |
You can also obtain copies of Fund documents, including the SAI, from the Securities and Exchange Commission as follows (the SEC charges a fee to copy documents): | |
■ MAIL Securities and Exchange Commission Public Reference Room 100 F Street, NE Washington, DC 20549-1520■ ELECTRONIC REQUEST publicinfo@sec.gov | ■ IN PERSON Public Reference Room located at 100 F Street, NE in Washington, DC For hours of operation, call (202) 551-8090■ VIA THE INTERNET on the EDGAR Database at www.sec.gov |
PGIM Government Money Market Fund | |||||
Class A | Class B | Class C | Class Z | ||
Purchase | NASDAQ | PBMXX | N/A | N/A | PMZXX |
CUSIP | 74440W409 | 74440W201 | 74440W300 | 74440W805 | |
Exchange | NASDAQ | MJAXX | MJBXX | MJCXX | N/A |
CUSIP | 74440W102 | 74440W201 | 74440W300 | N/A |
MF108STAT | The Fund's Investment Company Act File No. 811-02619 |