PGIM European High Yield ESG Bond Fund
The investment objective of the Fund is to seek to achieve a return through a combination of current income and capital appreciation while applying environmental, social and governance (“ESG”) principles in the selection of securities, as outlined below. There is no assurance that such objective will be achieved. The Fund seeks to achieve its objective by investing in a diversified portfolio consisting primarily of high yield bonds that are originated in the European corporate bond markets. These high yield bonds will largely be a mix of fixed and floating rate instruments that are rated below investment grade and which are listed or traded on Recognised Markets globally. The Fund will seek to invest primarily in fixed income securities which are rated by any nationally recognized statistical rating organization (“NRSRO”) or, if not rated, determined by the Investment Manager to be of comparable quality to securities so rated.