PGIM Multi Asset Credit Fund

The investment objective of the Fund is to seek to outperform ICE BofA U.S. 3-Month Treasury Bill Index* over a full market cycle on a total return basis. The Fund will be actively managed and seeks to add value through a flexible investment strategy, investing in a variety of securities and instruments and using a variety of investment techniques, which may include managing duration, credit quality, yield curve positioning, and currency exposure, as well as sector and security selection. There is no assurance that such objective will be achieved. The Fund’s investments may include debt issued by any sovereign, agency, government sponsored entity, supra-national, municipal or corporate issuer, asset-backed securities, commercial mortgage backed securities, residential mortgage-backed securities, Rule 144A securities, Reg S securities, certain loan instruments, trust preferred securities, preferred stock, and private placement securities, which may be fixed or floating rate in nature.