497K 1 f41554d1.htm PIP 14 GOV INC PM CHANGE ( ANGELUCCI) 497K PIP 14 Gov Inc PM Change ( Angelucci) 497K

PRUDENTIAL INVESTMENT PORTFOLIOS 14

PGIM Government Income Fund

(the “Fund”)

Supplement dated April 8, 2025

to the Fund’s Currently Effective Summary Prospectus, Prospectus and Statement of Additional Information

You should read this Supplement in conjunction with the Fund's Summary Prospectus, Prospectus and Statement of Additional

Information (SAI), as applicable, and retain it for future reference.

Effective immediately, Mr. Matthew Angelucci, will replace Mr. Scott Donnelly as portfolio manager of the Fund.

To reflect this change, the Fund’s Summary Prospectus, Prospectus and SAI are hereby revised as follows effective immediately:

1.All references to Mr. Donnelly are hereby removed from the Fund’s Summary Prospectus, Prospectus and SAI.

2.The table in the section of the Fund’s Summary Prospectus and Prospectus entitled “Management of the Fund” is hereby revised by adding the information set forth below with respect to Mr. Angelucci:

Investment

Subadviser

Portfolio Managers

Title

Service Date

Managers

 

 

 

 

 

 

 

 

 

PGIM Investments

PGIM Fixed

Matthew Angelucci, CFA

Principal and Senior

April 2025

LLC

Income*

 

Portfolio Manager

 

*PGIM Fixed Income is a business unit of PGIM, Inc.

3.The section of the Fund’s Prospectus entitled “How the Fund is Managed - Portfolio Managers” is hereby revised by adding the following professional biography for Mr. Angelucci:

Matthew Angelucci, CFA, is a Principal and senior portfolio manager on the Multi-Sector Team responsible for Global Bond Strategies. Mr. Angelucci specializes in global interest rates, country and sector allocation, ETFs and derivatives. Prior to assuming his current position, he was an analyst in the Portfolio Analysis Group. Mr. Angelucci joined the Firm in 2005. He received a BS in Corporate Finance and Accounting from Bentley University. Mr. Angelucci holds the Chartered Financial Analyst (CFA) designation.

2.The table in the Fund’s SAI entitled “THE FUND’S PORTFOLIO MANAGERS: INFORMATION ABOUT OTHER ACCOUNTS MANAGED” is hereby revised by adding the following information pertaining to Mr. Angelucci:

Subadviser

Portfolio

Registered

Other Pooled

Other Accounts/Total

 

Managers

Investment

Investment

Assets*

 

 

Companies/Total

Vehicles/Total

 

 

 

Assets*

Assets*

 

PGIM Fixed Income1

Matthew

45/$104,690,913,569

29/$36,061,478,746

196/$144,439,003,916

 

Angelucci, CFA

 

4/$1,532,879,689

11/$10,217,676,979

 

 

 

 

 

1PGIM Fixed Income is a business unit of PGIM, Inc. *Information as of February 28, 2025.

3.The table in the section of the Fund’s SAI entitled “THE FUND’S PORTFOLIO MANAGERS: PERSONAL INVESTMENTS AND FINANCIAL INTERESTS” is hereby revised by adding the following information pertaining to Mr. Angelucci:

Personal Investments and Financial Interests of the Portfolio Managers

Subadviser

Portfolio Managers

Investments and Other Financial

 

 

Interests in the Funds and Similar

 

 

Strategies

PGIM Fixed Income

Matthew Angelucci, CFA **

None

The dollar range of Mr. Angelucci’s direct investment in the Fund as of February 28, 2025 is as follows: None.

**Information is as of February 28, 2025.

LR1502