0000067590-11-000831.txt : 20111207 0000067590-11-000831.hdr.sgml : 20111207 20111207102631 ACCESSION NUMBER: 0000067590-11-000831 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20111207 DATE AS OF CHANGE: 20111207 EFFECTIVENESS DATE: 20111207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL SECTOR FUNDS, INC. CENTRAL INDEX KEY: 0000352665 IRS NUMBER: 133071974 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-72097 FILM NUMBER: 111247364 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL SECTOR FUNDS INC d/b/a JENNISONDRYDEN SECTOR FUNDS DATE OF NAME CHANGE: 20090113 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL SECTOR FUNDS INC DATE OF NAME CHANGE: 20080902 FORMER COMPANY: FORMER CONFORMED NAME: JENNISON SECTOR FUNDS INC DATE OF NAME CHANGE: 20030716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 14 CENTRAL INDEX KEY: 0000717819 IRS NUMBER: 133165671 STATE OF INCORPORATION: MD FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-82976 FILM NUMBER: 111247368 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GOVERNMENT INCOME FUND, INC. DATE OF NAME CHANGE: 20100219 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN GOVERNMENT INCOME FUND INC DATE OF NAME CHANGE: 20040420 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GOVERNMENT INCOME FUND INC DATE OF NAME CHANGE: 19951017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL GLOBAL TOTAL RETURN FUND, INC. CENTRAL INDEX KEY: 0000793159 IRS NUMBER: 133352347 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-63943 FILM NUMBER: 111247366 BUSINESS ADDRESS: STREET 1: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN GLOBAL TOTAL RETURN FUND INC DATE OF NAME CHANGE: 20030716 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GLOBAL TOTAL RETURN FUND INC DATE OF NAME CHANGE: 19990816 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL TOTAL RETURN FUND INC /MD DATE OF NAME CHANGE: 19950301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 4 CENTRAL INDEX KEY: 0000807394 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-10649 FILM NUMBER: 111247372 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN MUNICIPAL BOND FUND DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL BACHE MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19910527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL SHORT-TERM CORPORATE BOND FUND, INC. CENTRAL INDEX KEY: 0000834126 IRS NUMBER: 133468311 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-22363 FILM NUMBER: 111247365 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN SHORT TERM BOND FUND INC DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL SHORT TERM BOND FUND INC DATE OF NAME CHANGE: 20030219 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL SHORT TERM CORPORATE BOND FUND INC DATE OF NAME CHANGE: 20010316 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGET PORTFOLIO TRUST CENTRAL INDEX KEY: 0000890339 IRS NUMBER: 137000899 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-50476 FILM NUMBER: 111247367 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULLBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULLBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 12 CENTRAL INDEX KEY: 0001051562 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-42705 FILM NUMBER: 111247369 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER 3, 4TH FL STREET 2: 100 MULBERRY ST CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER 3, 4TH FL STREET 2: 100 MULBERRY ST CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GLOBAL REAL ESTATE FUND DATE OF NAME CHANGE: 20100219 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN GLOBAL REAL ESTATE FUND DATE OF NAME CHANGE: 20070111 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS REAL ESTATE FUND DATE OF NAME CHANGE: 20050616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL JENNISON 20/20 FOCUS FUND CENTRAL INDEX KEY: 0001052118 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-43491 FILM NUMBER: 111247363 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER 3, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: GATEWAY CENTER 3, 4TH FLOOR STREET 2: 100 MULBERRY ST CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: JENNISON 20/20 FOCUS FUND DATE OF NAME CHANGE: 20030716 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL 20/20 FOCUS FUND DATE OF NAME CHANGE: 19980424 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL 20/20 FUND DATE OF NAME CHANGE: 19971230 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGET ASSET ALLOCATION FUNDS CENTRAL INDEX KEY: 0001067442 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-60561 FILM NUMBER: 111247374 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS ASSET ALLOCATION FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL DIVERSIFIED FUNDS DATE OF NAME CHANGE: 19980930 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL DIVERSIFIED SERIES DATE OF NAME CHANGE: 19980803 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 9 CENTRAL INDEX KEY: 0001070287 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-66895 FILM NUMBER: 111247370 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER 3 4TH FLOOR STREET 2: 100 MULBERRY ST CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: GATEWAY CENTER 3 4TH FLOOR STREET 2: 100 MULBERRY ST CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL INVESTMENT PORFOLIOS 9 DATE OF NAME CHANGE: 20100217 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN TAX-MANAGED FUNDS DATE OF NAME CHANGE: 20070801 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN TAX MANAGED FUNDS DATE OF NAME CHANGE: 20030716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 5 CENTRAL INDEX KEY: 0001090155 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-82621 FILM NUMBER: 111247371 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS STYLE SPECIFIC FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: TARGET FUNDS DATE OF NAME CHANGE: 19990709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 3 CENTRAL INDEX KEY: 0001104631 IRS NUMBER: 000000000 FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-95849 FILM NUMBER: 111247373 BUSINESS ADDRESS: STREET 1: 100 MULBERRY ST. STREET 2: GATEWAY CENTER THREE 4TH FL CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 100 MULBERRY ST. STREET 2: GATEWAY CENTER THREE 4TH FL CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: JENNISONDRYDEN OPPORTUNITY FUNDS DATE OF NAME CHANGE: 20080530 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS OPPORTUNITY FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS SERIES DATE OF NAME CHANGE: 20000131 0000352665 S000004379 Prudential Financial Services Fund C000012117 Class A PFSAX C000012118 Class B PUFBX C000012119 Class C PUFCX C000012120 Class Z PFSZX C000110072 Class R 0000352665 S000004380 Prudential Health Sciences Fund d/b/a Prudential Jennison Health Sciences Fund C000012121 Class A PHLAX C000012122 Class B PHLBX C000012123 Class C PHLCX C000012124 Class Z PHSZX C000018112 Class L C000018113 Class M C000018114 Class X C000018115 Class New X C000110073 Class R 0000352665 S000004382 Prudential Utility Fund d/b/a Prudential Jennison Utility Fund C000012129 Class A PRUAX C000012130 Class B PRUTX C000012131 Class C PCUFX C000012132 Class Z PRUZX C000036071 Class R 0000717819 S000004573 PRUDENTIAL GOVERNMENT INCOME FUND C000012502 Class A PGVAX C000012503 Class B PBGPX C000012504 Class C PRICX C000012505 Class Z PGVZX C000012506 Class R JDRVX 0000717819 S000031692 Prudential Floating Rate Income Fund C000098631 Class A C000098632 Class C C000098633 Class Z 0000793159 S000004375 Prudential Global Total Return Fund, Inc. C000012110 Class A GTRAX C000012111 Class B PBTRX C000012112 Class C PCTRX C000012113 Class Z PZTRX C000109121 Class Q 0000807394 S000004643 Prudential Muni High Income Fund C000012650 Class Z PHIZX C000012651 Class A PRHAX C000012652 Class B PMHYX C000012653 Class C PHICX 0000834126 S000004769 PRUDENTIAL SHORT-TERM CORPORATE BOND FUND, INC. C000012963 Class A PBSMX C000012964 Class B PSMBX C000012965 Class C PIFCX C000012966 Class Z PIFZX C000012967 Class R JDTRX 0000890339 S000004682 LARGE CAPITALIZATION GROWTH C000012747 Class T TALGX C000035399 Class R 0000890339 S000004684 SMALL CAPITALIZATION GROWTH C000012749 Class T TASGX C000035400 Class R 0000890339 S000004685 INTERNATIONAL EQUITY C000012750 Class T TAIEX C000035401 Class R C000100447 Class Q 0000890339 S000004686 TOTAL RETURN BOND C000012751 Class T TATBX C000035402 Class R 0000890339 S000004687 MORTGAGE BACKED SECURITIES C000012752 Class T TGMBX 0000890339 S000004688 LARGE CAPITALIZATION VALUE C000012753 Class T TALVX C000035403 Class R 0000890339 S000004689 SMALL CAPITALIZATION VALUE C000012754 Class T TASVX C000035404 Class R 0000890339 S000004691 INTERMEDIATE-TERM BOND C000012756 Class T TAIBX 0001051562 S000004628 PRUDENTIAL GLOBAL REAL ESTATE FUND C000012602 Class C C000012603 Class Z C000012604 Class A PURAX C000012605 Class B PURBX C000064697 Class R 0001051562 S000030621 Prudential US Real Estate Fund C000094911 Class A C000094912 Class B C000094913 Class C C000094914 Class Z 0001052118 S000004540 PRUDENTIAL JENNISON 20/20 FOCUS FUND C000012442 Class A PTWAX C000012443 Class B PTWBX C000012444 Class C PTWCX C000012445 Class Z PTWZX C000012446 Class R JTWRX C000098934 Class Q 0001067442 S000004703 TARGET CONSERVATIVE ALLOCATION FUND C000012790 Class M C000012791 Class X C000012792 Class R PCLRX C000012793 Class A PCGAX C000012794 Class B PBCFX C000012795 Class C PCCFX C000012796 Class Z PDCZX 0001067442 S000004704 TARGET MODERATE ALLOCATION FUND C000012797 Class M C000012798 Class X C000012799 Class R SPMRX C000012800 Class A PAMGX C000012801 Class B DMGBX C000012802 Class C PIMGX C000012803 Class Z PDMZX 0001067442 S000004705 TARGET GROWTH ALLOCATION FUND C000012804 Class M C000012805 Class X C000012806 Class R PGARX C000012807 Class A PHGAX C000012808 Class B PIHGX C000012809 Class C PHGCX C000012810 Class Z PDHZX 0001070287 S000004644 PRUDENTIAL LARGE-CAP CORE EQUITY FUND C000012654 Class A PTMAX C000012655 Class B PTMBX C000012656 Class C PTMCX C000012657 Class Z PTEZX C000038972 Class L C000038973 Class M C000038974 Class New X C000038975 Class X 0001070287 S000030622 Prudential International Real Estate Fund C000094915 Class A C000094916 Class B C000094917 Class C C000094918 Class Z 0001070287 S000031707 Prudential Absolute Return Bond Fund C000098666 Class A C000098667 Class C C000098668 Class Q C000098669 Class Z 0001090155 S000004718 PRUDENTIAL JENNISON CONSERVATIVE GROWTH FUND C000012847 Class A TBDAX C000012848 Class B TBDBX C000012849 Class C TBDCX C000038956 Class L C000038957 Class M C000038958 Class New X 0001090155 S000004721 PRUDENTIAL SMALL CAP VALUE FUND C000012856 Class L C000012857 Class M C000012858 Class X C000012859 Class A PZVAX C000012860 Class B PZVBX C000012861 Class C PZVCX C000098068 Class R C000098069 Class Z 0001104631 S000004751 PRUDENTIAL JENNISON SELECT GROWTH FUND C000012929 Class A SPFAX C000012930 Class B SPFBX C000012931 Class C SPFCX C000012932 Class Z SPFZX C000038968 Class L C000038969 Class M C000038970 Class New X C000038971 Class X 0001104631 S000004753 PRUDENTIAL STRATEGIC VALUE FUND C000012937 Class A SUVAX C000012938 Class B SUVBX C000012939 Class C SUVCX C000012940 Class Z SUVZX 0001104631 S000028734 Prudential Jennison Market Neutral Fund C000087871 Class A C000087872 Class B C000087873 Class C C000087874 Class Z C000100172 Class R 0001104631 S000030542 Prudential Real Assets Fund C000094729 Class A C000094730 Class B C000094731 Class C C000094732 Class Z 497 1 costbasis.htm

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PRUDENTIAL JENNISON 20/20 FOCUS FUND

PRUDENTIAL INVESTMENT PORTFOLIOS 3

Prudential Jennison Market Neutral Fund

Prudential Jennison Select Growth Fund

Prudential Real Assets Fund

Prudential Strategic Value Fund

PRUDENTIAL INVESTMENT PORTFOLIOS 4

Prudential Muni High Income Fund

PRUDENTIAL INVESTMENT PORTFOLIOS 5

Prudential Jennison Conservative Growth Fund

Prudential Small-Cap Value Fund

PRUDENTIAL INVESTMENT PORTFOLIOS 9

Prudential Absolute Return Bond Fund

Prudential International Real Estate Fund

Prudential Large-Cap Core Equity Fund

PRUDENTIAL INVESTMENT PORTFOLIOS 12

Prudential Global Real Estate Fund

Prudential U.S. Real Estate Fund

PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 14

Prudential Floating Rate Income Fund

Prudential Government Income Fund

TARGET ASSET ALLOCATION FUNDS

Target Conservative Allocation Fund

Target Growth Allocation Fund

Target Moderate Allocation Fund

PRUDENTIAL SECTOR FUNDS, INC.

Prudential Financial Services Fund

Prudential Health Sciences Fund


Prudential Utility Fund

PRUDENTIAL GLOBAL TOTAL RETURN FUND, INC.

PRUDENTIAL SHORT-TERM CORPORATE BOND FUND, INC.

THE TARGET PORTFOLIO TRUST

Intermediate-Term Bond Portfolio

International Equity Portfolio

Large Capitalization Growth Portfolio

Large Capitalization Value Portfolio

Mortgage-Backed Securities Portfolio

Small Capitalization Growth Portfolio

Small Capitalization Value Portfolio


Total Return Bond Portfolio

Supplement dated December 7, 2011
to the current

Prospectus and Statement of Additional Information of each of the Funds named above
 

This supplement amends each Fund’s Prospectus and Statement of Additional Information and is in addition to any existing supplement to each Fund’s Prospectus and Statement of Additional Information.

The following is added to the section in the Prospectus captioned “Fund Distributions and Tax Issues” after the header “Tax Issues – Form 1099”:

Cost Basis Reporting. Effective January 1, 2012, mutual funds must report cost basis information to you and the IRS when you sell or exchange shares acquired on or after January 1, 2012 in your non-retirement accounts. The new cost basis regulations do not affect retirement accounts, money market funds, and shares acquired before January 1, 2012. The new cost basis regulations also require mutual funds to report whether a gain or loss is short-term (shares held one year or less) or long-term (shares held more than one year) for all shares acquired on or after January 1, 2012 that are subsequently sold or exchanged. The Fund’s Transfer Agent is not required to report cost basis information on shares acquired before January 1, 2012. However, in most cases the Transfer Agent will provide this information to you as a service.

The following is added to the section in the Statement of Additional Information captioned “Taxes, Dividends and Distributions” after the sub-section “Sale or Redemption of Shares”:

Cost Basis Reporting. Effective January 1, 2012, mutual funds must report cost basis information to you and the IRS when you sell or exchange shares acquired on or after January 1, 2012 in your non-retirement accounts. The new cost basis regulations do not affect retirement accounts, money market funds, and shares acquired before January 1, 2012. The new regulations also require mutual funds to report whether a gain or loss is short-term (shares held one year or less) or long-term (shares held more than one year) for all shares acquired on or after January 1, 2012 that are subsequently sold or exchanged. To calculate the gain or loss on shares sold, you need to know the cost basis of the shares. Cost basis is the original value of an asset for tax purposes (usually the gross purchase price), adjusted for stock splits, reinvested dividends, and return of capital distributions. This value is used to determine the capital gain (or loss), which is the difference between the cost basis of the shares and the gross proceeds when the shares are sold. The Fund’s Transfer Agent supports several different cost basis methods from which you may select a cost basis method you believe best suited to your needs. If you decide to elect the Transfer Agent’s default method, which is average cost, no action is required on your part. For shares acquired on or after January 1, 2012, if you change your cost basis method, the new method will apply to all shares in the account if you request the change prior to the first redemption. If, however, you request the change after the first redemption, the new method will apply to shares acquired on or after the date of the change. Keep in mind that the Fund’s Transfer Agent is not required to report cost basis information to you or the IRS on shares acquired before January 1, 2012. However, the Transfer Agent will provide this information to you, as a service, if its cost basis records are complete for such shares. This information will be separately identified on the Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) sent to you by the Transfer Agent and not transmitted to the IRS.

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