Supplement dated December 18, 2019
to the Currently Effective Summary Prospectus, Prospectus and Statement of Additional
Information
of the Funds Listed Below
This supplement should be read in conjunction with your Summary Prospectus, Statutory Prospectus and Statement of Additional Information, be retained for future reference and is in addition to any existing Fund supplements.
The Board of Directors/Trustees for each Fund listed below has approved the conversion of all issued and outstanding Class B shares of the Funds to Class A shares of the same Fund, effective on or about June 26, 2020.
As a result, effective on or about the close of business on June 26, 2020, all of the issued and outstanding Class B shares of a Fund will be converted into Class A shares of that Fund with the same relative aggregate net asset value as the Class B shares held immediately prior to the conversion. Class A shares currently have lower total expense ratios, and equal or lower distribution fees and shareholder servicing fees payable under the Fund's 12b-1 plan than Class B shares. No sales load, fee, or other charge will be imposed on the conversion of these shares. Class A shares are not subject to the contingent deferred sales charge (if any) currently charged on the redemption of Class B shares. Please refer to your Fund's Prospectus for more information regarding Class A shares. The conversion is not expected to be a taxable event for federal income tax purposes and should not result in recognition of gain or loss by converting shareholders.
The Prudential Investment Portfolios, Inc. |
Prudential Investment Portfolios 16 |
PGIM Balanced Fund |
PGIM Income Builder Fund |
PGIM Jennison Focused Value Fund |
Prudential Investment Portfolios, Inc. 17 |
PGIM Jennison Growth Fund |
PGIM Total Return Bond Fund |
Prudential Investment Portfolios 3 |
Prudential Investment Portfolios 18 |
PGIM Jennison Focused Growth Fund |
PGIM Jennison 20/20 Focus Fund |
PGIM QMA Large-Cap Value Fund |
Prudential Global Total Return Fund, Inc. |
PGIM Real Assets Fund |
PGIM Global Total Return Fund |
Prudential Investment Portfolios 4 |
Prudential Jennison Blend Fund, Inc. |
PGIM Muni High Income Fund |
PGIM Jennison Blend Fund |
Prudential Investment Portfolios 5 |
Prudential Jennison Mid-Cap Growth Fund, Inc. |
PGIM Jennison Diversified Growth Fund |
PGIM Jennison Mid-Cap Growth Fund |
Prudential Investment Portfolios 6 |
Prudential Jennison Natural Resources Fund, Inc. |
PGIM California Muni Income Fund |
PGIM Jennison Natural Resources Fund |
Prudential Investment Portfolios 7 |
Prudential Jennison Small Company Fund, Inc. |
PGIM Jennison Value Fund |
PGIM Jennison Small Company Fund |
Prudential Investment Portfolios 9 |
Prudential Government Money Market Fund, Inc. |
PGIM QMA Large-Cap Core Equity Fund |
PGIM Government Money Market Fund |
Prudential Investment Portfolios, Inc. 10 |
Prudential National Muni Fund, Inc. |
PGIM Jennison Global Equity Income Fund |
PGIM National Muni Fund |
PGIM QMA Mid-Cap Value Fund |
Prudential Sector Funds, Inc. |
Prudential Investment Portfolios 12 |
PGIM Jennison Financial Services Fund |
PGIM Global Real Estate Fund |
PGIM Jennison Health Sciences Fund |
PGIM US Real Estate Fund |
PGIM Jennison Utility Fund |
Prudential Investment Portfolios, Inc. 14 |
Prudential Short-Term Corporate Bond Fund, Inc. |
PGIM Government Income Fund |
PGIM Short-Term Corporate Bond Fund |
Prudential Investment Portfolios, Inc. 15 |
Prudential World Fund, Inc. |
PGIM High Yield Fund |
PGIM QMA International Equity Fund |
LR1263