PGIM
FLOATING RATE INCOME FUND | |||
A:
FRFAX |
C:
FRFCX |
Z:
FRFZX |
R6:
PFRIX |
The
Securities and Exchange Commission
(“SEC”)
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. © 2024
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
C |
Class
Z |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase price or the net asset value at
redemption) |
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
Redemption
fee |
|
|
|
|
Exchange
fee |
|
|
|
|
Maximum
account fee (accounts under $10,000) |
$ |
$ |
|
|
|
Class
A |
Class
C |
Class
Z |
Class
R6 |
Management
fee |
|
|
|
|
Distribution
and service (12b-1) fees |
|
|
|
|
Other
expenses(1) |
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
Fee
waiver and/or expense reimbursement |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Ten
Years |
Since
Inception |
Inception
Date |
Class
A Shares |
|
|
|
- |
|
Class
C Shares |
|
|
|
- |
|
Class
R6 Shares |
|
|
|
|
|
Class
Z Shares % (as of 12-31-23) | |||||
Return
Before Taxes |
|
|
|
- |
|
Return
After Taxes on Distributions |
|
|
|
- |
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
- |
|
Index
% (reflects no deduction for fees, expenses or taxes) (as of
12-31-23) | |||||
Credit
Suisse Leveraged Loan Index |
|
|
|
|
|
Investment
Manager |
Subadvisers |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Fixed Income*
PGIM
Limited |
Robert
Cignarella, CFA |
Managing
Director,
Head
of U.S. High
Yield
and Co-Head of
the
Global High Yield
Strategy |
March
2014 |
|
|
Brian
Juliano |
Managing
Director
and
Head of U.S.
Leveraged
Loan Team |
March
2011 |
|
|
Parag
Pandya, CFA |
Principal
and Portfolio
Manager |
April
2018 |
|
|
Ian
F. Johnston |
Principal
and Portfolio
Manager |
April
2021 |
|
|
Robert
W. Meyer, CFA |
Principal |
April
2021 |
|
Class
A* |
Class
C* |
Class
Z* |
Class
R6 |
Minimum
initial investment |
$1,000 |
$1,000 |
None |
None |
Minimum
subsequent investment |
$100 |
$100 |
None |
None |
Principal
Strategies: Investment Limits |
■Floating
rate loans and other floating rate debt securities: at least 80% of
investable assets under normal market conditions ■Senior
loans rated below investment grade: the Fund may invest primarily in such
loans ■Derivatives:
Up to 25% of total assets (subject to the Fund's operation under the
requirements of Rule 18f-4 under the
Investment
Company Act of 1940) |
Certain
Non-Principal Strategies: Investment Limits |
■Senior
loans not secured by specific collateral: Up to 20% of total
assets ■Foreign
securities, including senior loans to foreign-domiciled borrowers and
securities of issuers located in emerging
market
countries, which may be denominated in U.S. dollars or non-U.S.
currencies: Up to 25% of total assets ■Illiquid
investments: Up to 15% of net assets ■Money
market instruments: Up to 100% of total assets on a temporary
basis ■Other
types of debt securities, equity and equity related securities
(principally preferred stocks and convertible securities),
and money
market instruments: Up to 20% of investable
assets |
|
PGIM
Fixed Income
US
Senior Secured Loans
(Unconstrained)
Composite |
Bank
Loan Fund |
Credit
Suisse
Leveraged
Loan
Index* |
Morningstar
Bank
Loan
Fund
Category
Average | ||
Annualized
Returns as of 2/29/2024 |
Net |
Gross |
Net |
Gross |
|
|
1
Year |
10.31% |
12.26% |
11.38% |
12.05% |
11.37% |
10.30% |
3
Year |
3.84% |
5.67% |
5.11% |
5.74% |
5.55% |
4.39% |
5
Year |
3.92% |
5.76% |
4.86% |
5.49% |
5.10% |
3.83% |
10
Year |
3.29% |
5.11% |
4.38% |
5.01% |
4.51% |
3.39%
|
|
PGIM
Fixed Income
US
Senior Secured Loans
(Unconstrained)
Composite |
Bank
Loan Fund |
Credit
Suisse
Leveraged
Loan
Index* |
Morningstar
Bank
Loan
Fund
Category
Average | ||
Annualized
Returns as of 2/29/2024 |
Net |
Gross |
Net |
Gross |
|
|
Since
Inception (5/1/2007) |
3.38% |
5.21% |
4.72% |
5.35% |
4.78% |
3.42% |
|
PGIM
Fixed Income
US
Senior Secured Loans
(Unconstrained)
Composite |
Bank
Loan Fund |
Credit
Suisse
Leveraged
Loan
Index* |
Morningstar
Bank
Loan
Fund
Category
Average | ||
Calendar
Year Returns |
Net |
Gross |
Net |
Gross |
|
|
2023 |
12.25% |
14.23% |
13.15% |
13.84% |
13.04% |
12.19% |
2022 |
-4.46% |
-2.78% |
-3.42% |
-2.83% |
-1.06% |
-2.49% |
2021 |
4.79% |
6.64% |
6.48% |
7.12% |
5.40% |
5.40% |
2020 |
2.94% |
4.76% |
3.17% |
3.79% |
2.78% |
1.16% |
2019 |
6.69% |
8.57% |
7.50% |
8.15% |
8.17% |
7.45% |
2018 |
-0.99% |
0.75% |
0.22% |
0.83% |
1.14% |
-0.26% |
2017 |
3.51% |
5.34% |
4.72% |
5.35% |
4.25% |
3.48% |
2016 |
8.05% |
9.96% |
10.09% |
10.75% |
9.88% |
9.25% |
2015 |
-0.47% |
1.29% |
0.37% |
0.98% |
-0.38% |
-1.25% |
2014 |
0.24% |
2.01% |
1.20% |
1.81% |
2.06% |
0.60% |
2013 |
4.16% |
6.00% |
5.19% |
5.82% |
6.15% |
5.48% |
2012 |
7.68% |
9.58% |
8.60% |
9.25% |
9.43% |
9.12% |
2011 |
1.93% |
3.73% |
2.97% |
3.59% |
1.82% |
1.74% |
2010 |
7.85% |
9.76% |
9.10% |
9.76% |
9.71% |
9.44% |
2009 |
36.31% |
38.72% |
37.95% |
38.78% |
53.84% |
41.81% |
2008 |
-24.33% |
-22.99% |
-20.40% |
-19.92% |
-29.48% |
-29.72% |
2007(5/1/2007
- 12/31/2007) |
-1.16% |
0.00% |
-0.26% |
0.14% |
-0.62% |
-1.50% |
Expected
Distribution Schedule* |
|
Dividends |
Monthly |
Short-Term
Capital Gains |
Annually |
Long-Term
Capital Gains |
Annually |
Share
Class |
Eligibility |
Class
A* |
Retail
investors |
Class
C* |
Retail
investors |
Class
Z* |
Certain
group retirement plans, institutional investors and certain other
investors |
Class
R6 |
Certain
group retirement plans, institutional investors and certain other
investors |
|
Class
A* |
Class
C* |
Class
Z* |
Class
R6 |
Minimum
purchase amount |
$1,000 |
$1,000 |
None |
None |
Minimum
amount for subsequent purchases |
$100 |
$100 |
None |
None |
Maximum
initial sales charge |
2.25%
of the public
offering
price |
None |
None |
None |
Contingent
Deferred Sales Charge (CDSC) (as a
percentage
of the lower of the original purchase
price
or the net asset value at redemption) |
1.00%
on sales of
$500,000
or more made
within
12 months of
purchase |
1.00%
on sales made
within
12 months of
purchase |
None |
None |
Annual
distribution and service (12b-1) fees (shown
as
a percentage of average daily net assets) |
0.25% |
1.00% |
None |
None |
|
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 June 1, 2018,
subject
to certain exceptions below | |||
New
IRAs |
No
Change |
No
Change |
No
Change |
Closed
to all new
investors
on June 1, 2018,
subject
to certain
exceptions
below |
All
Other New Investors |
No
Change |
No
Change |
No
Change |
Amount
of Purchase |
Sales
Charge as a % of
Offering
Price* |
Sales
Charge as a % of
Amount
Invested* |
Dealer
Reallowance*** |
Less
than $100,000 |
2.25% |
2.30% |
2.00% |
$100,000
to $249,999 |
2.00% |
2.04% |
1.75% |
$250,000
to $499,999 |
1.25% |
1.27% |
1.25% |
$500,000
to $4,999,999** |
None |
None |
1.00% |
$5,000,000
to $9,999,999** |
None |
None |
0.50% |
$10,000,000
and over** |
None |
None |
0.25% |
Class
A Shares | |||||
|
Year
Ended February 28/29, | ||||
|
2024 |
2023 |
2022 |
2021 |
2020 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$8.98 |
$9.51 |
$9.65 |
$9.38 |
$9.72 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.78 |
0.54 |
0.32 |
0.45 |
0.53 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
0.16 |
(0.45) |
(0.13) |
0.27(b) |
(0.33) |
Total
from investment operations |
0.94 |
0.09 |
0.19 |
0.72 |
0.20 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.78) |
(0.62) |
(0.33) |
(0.45) |
(0.54) |
Tax
return of capital distributions |
(0.01) |
- |
- |
- |
- |
Total
dividends and distributions |
(0.79) |
(0.62) |
(0.33) |
(0.45) |
(0.54) |
Net
asset value, end of Year |
$9.13 |
$8.98 |
$9.51 |
$9.65 |
$9.38 |
Total
Return(c): |
11.03% |
1.22% |
1.93% |
8.25% |
2.14% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$189,497 |
$177,406 |
$221,472 |
$60,644 |
$61,392 |
Average
net assets (000) |
$182,716 |
$203,544 |
$132,395 |
$48,786 |
$79,796 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
1.00%(e) |
1.00%(e) |
0.95% |
0.97%(e) |
0.97% |
Expenses
before waivers and/or expense reimbursement |
1.09% |
1.11%(e) |
1.07% |
1.17%(e) |
1.11% |
Net
investment income (loss) |
8.67% |
6.01% |
3.29% |
5.04% |
5.53% |
Portfolio
turnover rate(f) |
68% |
43% |
43% |
125% |
66% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(c) |
Total
return does not consider the effects of sales loads. Total return is
calculated assuming a purchase of a share on the first day and a sale on
the last day of each year
reported
and includes reinvestment of dividends and distributions, if any. Total
returns may reflect adjustments to conform to
GAAP. |
(d) |
Does
not include expenses of the underlying funds in which the Fund
invests. |
(e) |
Includes
interest expense on borrowings from the Syndicated Credit Agreement and
certain non-recurring expenses of 0.05%, 0.05% and 0.02%, respectively,
which are being
excluded
from the Fund's contractual waiver for the years ended February 28/29,
2024, 2023 and 2021, respectively. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
C Shares | |||||
|
Year
Ended February 28/29, | ||||
|
2024 |
2023 |
2022 |
2021 |
2020 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$8.98 |
$9.52 |
$9.66 |
$9.38 |
$9.72 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.71 |
0.48 |
0.25 |
0.39 |
0.46 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
0.18 |
(0.47) |
(0.14) |
0.28(b) |
(0.33) |
Total
from investment operations |
0.89 |
0.01 |
0.11 |
0.67 |
0.13 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.72) |
(0.55) |
(0.25) |
(0.39) |
(0.47) |
Tax
return of capital distributions |
(0.01) |
- |
- |
- |
- |
Total
dividends and distributions |
(0.73) |
(0.55) |
(0.25) |
(0.39) |
(0.47) |
Net
asset value, end of Year |
$9.14 |
$8.98 |
$9.52 |
$9.66 |
$9.38 |
Total
Return(c): |
10.33% |
0.36% |
1.16% |
7.56% |
1.38% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$51,783 |
$61,349 |
$69,648 |
$24,973 |
$32,673 |
Average
net assets (000) |
$54,544 |
$70,642 |
$45,432 |
$25,795 |
$44,099 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
1.75%(e) |
1.76%(e) |
1.70% |
1.72%(e) |
1.72% |
Expenses
before waivers and/or expense reimbursement |
1.87% |
1.90%(e) |
1.84% |
1.94%(e) |
1.88% |
Net
investment income (loss) |
7.92% |
5.32% |
2.54% |
4.31% |
4.78% |
Portfolio
turnover rate(f) |
68% |
43% |
43% |
125% |
66% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(c) |
Total
return does not consider the effects of sales loads. Total return is
calculated assuming a purchase of a share on the first day and a sale on
the last day of each year
reported
and includes reinvestment of dividends and distributions, if any. Total
returns may reflect adjustments to conform to
GAAP. |
(d) |
Does
not include expenses of the underlying funds in which the Fund
invests. |
(e) |
Includes
interest expense on borrowings from the Syndicated Credit Agreement and
certain non-recurring expenses of 0.05%, 0.06% and 0.02%, respectively,
which are being
excluded
from the Fund's contractual waiver for the years ended February 28/29,
2024, 2023 and 2021, respectively. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
Z Shares | |||||
|
Year
Ended February 28/29, | ||||
|
2024 |
2023 |
2022 |
2021 |
2020 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$8.99 |
$9.52 |
$9.66 |
$9.39 |
$9.73 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.80 |
0.55 |
0.35 |
0.47 |
0.56 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
0.17 |
(0.43) |
(0.14) |
0.28(b) |
(0.33) |
Total
from investment operations |
0.97 |
0.12 |
0.21 |
0.75 |
0.23 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.81) |
(0.65) |
(0.35) |
(0.48) |
(0.57) |
Tax
return of capital distributions |
(0.01) |
- |
- |
- |
- |
Total
dividends and distributions |
(0.82) |
(0.65) |
(0.35) |
(0.48) |
(0.57) |
Net
asset value, end of Year |
$9.14 |
$8.99 |
$9.52 |
$9.66 |
$9.39 |
Total
Return(c): |
11.30% |
1.48% |
2.18% |
8.51% |
2.40% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,542,156 |
$2,077,632 |
$3,794,840 |
$564,615 |
$424,819 |
Average
net assets (000) |
$1,605,227 |
$3,121,921 |
$1,828,765 |
$283,976 |
$584,427 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76%(e) |
0.75%(e) |
0.70% |
0.72%(e) |
0.72% |
Expenses
before waivers and/or expense reimbursement |
0.87% |
0.88%(e) |
0.81% |
0.90%(e) |
0.87% |
Net
investment income (loss) |
8.91% |
6.06% |
3.55% |
5.18% |
5.78% |
Portfolio
turnover rate(f) |
68% |
43% |
43% |
125% |
66% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does
not include expenses of the underlying funds in which the Fund
invests. |
(e) |
Includes
interest expense on borrowings from the Syndicated Credit Agreement and
certain non-recurring expenses of 0.06%, 0.05% and 0.02%, respectively,
which are being
excluded
from the Fund's contractual waiver for the years ended February 28/29,
2024, 2023 and 2021, respectively. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended February 28/29, | ||||
|
2024 |
2023 |
2022 |
2021 |
2020 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$8.99 |
$9.53 |
$9.66 |
$9.39 |
$9.73 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.80 |
0.58 |
0.35 |
0.48 |
0.56 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
0.17 |
(0.47) |
(0.13) |
0.27(b) |
(0.33) |
Total
from investment operations |
0.97 |
0.11 |
0.22 |
0.75 |
0.23 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.81) |
(0.65) |
(0.35) |
(0.48) |
(0.57) |
Tax
return of capital distributions |
(0.01) |
- |
- |
- |
- |
Total
dividends and distributions |
(0.82) |
(0.65) |
(0.35) |
(0.48) |
(0.57) |
Net
asset value, end of Year |
$9.14 |
$8.99 |
$9.53 |
$9.66 |
$9.39 |
Total
Return(c): |
11.36% |
1.42% |
2.34% |
8.57% |
2.45% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$271,216 |
$350,700 |
$396,487 |
$16,970 |
$14,790 |
Average
net assets (000) |
$286,529 |
$428,601 |
$180,674 |
$11,040 |
$25,645 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.71%(e) |
0.70%(e) |
0.65% |
0.67%(e) |
0.67% |
Expenses
before waivers and/or expense reimbursement |
0.77% |
0.76%(e) |
0.72% |
0.93%(e) |
0.81% |
Net
investment income (loss) |
8.97% |
6.38% |
3.62% |
5.31% |
5.84% |
Portfolio
turnover rate(f) |
68% |
43% |
43% |
125% |
66% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does
not include expenses of the underlying funds in which the Fund
invests. |
(e) |
Includes
interest expense on borrowings from the Syndicated Credit Agreement and
certain non-recurring expenses of 0.06%, 0.05% and 0.02%, respectively,
which are being
excluded
from the Fund's contractual waiver for the years ended February 28/29,
2024, 2023 and 2021, respectively. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
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
P.O.
Box
534432
Pittsburgh,
PA 15253-4432 ■WEBSITE
www.pgim.com/investments |
■TELEPHONE
(800)
225-1852
(973)
367-3529
(from
outside the U.S.) |
■E-DELIVERY
To
receive your mutual fund documents on-line, go to
pgim.com/investments/resource/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
(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 SEC
as follows (the SEC charges a fee to
copy
documents): | |
■ELECTRONIC
REQUEST
|
■VIA
THE INTERNET
on
the EDGAR Database at
www.sec.gov |
PGIM
Floating Rate Income Fund | ||||
Share
Class |
A |
C |
Z |
R6 |
NASDAQ |
FRFAX |
FRFCX |
FRFZX |
PFRIX |
CUSIP |
74439V602 |
74439V701 |
74439V800 |
74439V883 |