Supplement dated September 12, 2014
Prudential Investments Funds
Target Funds
At a recent meeting, the Boards of Directors/Trustees of the Prudential Investments Funds and the Target Funds (collectively, the Funds) approved submitting to shareholders of record as of September 12, 2014 the following proposals:
1.
For all Funds, to elect twelve Directors or Trustees.
2.
For certain of the Funds, to approve a policy to permit Prudential Investments LLC (PI) to enter into or make material changes
to the Fund’s subadvisory agreements with subadvisers that are wholly-owned subsidiaries of PI or a sister company of PI
(wholly-owned subadvisers) without shareholder approval.
3. For certain of the Funds, to designate the Fund’s investment objective as a non-fundamental policy of the Fund, meaning
that the Fund’s investment objective could be changed with the approval of the Fund’s Board of Directors/Trustees,
but without shareholder approval.
The Boards of Directors/Trustees also approved
special joint meetings of shareholders of the Funds scheduled for November 26, 2014 in order for shareholders to consider and vote
on each of the above proposals.
Additional information about each proposal may be found in the preliminary proxy statement filed with the Securities & Exchange
Commission. The definitive proxy statement is expected to be filed with the Securities & Exchange Commission on or about September
22, 2014, and will also be available on the Funds’ website at www.prudentialfunds.com/fundchanges on or about September 22,
2014.
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Investment Company Name | Fund / Series Name |
The Prudential Investment Portfolios, Inc. | Prudential Asset Allocation Fund |
Prudential Jennison Equity Opportunity Fund | |
Prudential Jennison Growth Fund | |
Prudential Conservative Allocation Fund | |
Prudential Moderate Allocation Fund | |
Prudential Growth Allocation Fund | |
Prudential Investment Portfolios 2 | Prudential Core Taxable Money Market Fund |
Prudential Core Short-Term Bond Fund | |
Prudential Investment Portfolios 3 | Prudential Strategic Value Fund |
Prudential Jennison Select Growth Fund | |
Prudential Real Assets Fund | |
Prudential Jennison Market Neutral 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 Jennison Rising Dividend Fund | |
Prudential Investment Portfolios 6 | Prudential California Muni Income Fund |
Prudential Investment Portfolios 7 | Prudential Jennison Value Fund |
Prudential Investment Portfolios 8 | Prudential Stock Index Fund |
Prudential Investment Portfolios 9 | Prudential Large-Cap Core Equity Fund |
Prudential International Real Estate Fund | |
Prudential Absolute Return Bond Fund | |
Prudential Select Real Estate Fund | |
Prudential Investment Portfolios, Inc. 10 | Prudential Mid-Cap Value Fund |
Prudential Jennison Equity Income Fund | |
Prudential Investment Portfolios 12 | Prudential Global Real Estate Fund |
Prudential US Real Estate Fund | |
Prudential Long-Short Equity Fund | |
Prudential Short Duration Muni High Income Fund | |
Prudential Investment Portfolios, Inc. 14 | Prudential Government Income Fund |
Prudential Floating Rate Income Fund | |
Prudential Investment Portfolios, Inc. 15 | Prudential High Yield Fund |
Prudential Short Duration High Yield Income Fund | |
Prudential Investment Portfolios 16 | Prudential Defensive Equity Fund |
Target Conservative Allocation Fund (to be re-named Prudential Income Builder Fund on or about September 23, 2014) | |
Prudential Investment Portfolios, Inc. 17 | Prudential Total Return Bond Fund |
Prudential Short Duration Multi-Sector Bond Fund | |
Prudential Investment Portfolios 18 | Prudential Jennison 20/20 Focus Fund |
Prudential Jennison MLP Fund | |
Prudential MoneyMart Assets, Inc. | |
Prudential National Muni Fund, Inc. | |
Prudential Jennison Blend Fund, Inc. | |
Prudential Jennison Mid-Cap Growth Fund, Inc. | |
Prudential Jennison Small Company Fund, Inc. | |
Prudential World Fund, Inc. | Prudential International Equity Fund |
Prudential International Value Fund | |
Prudential Emerging Markets Debt Local Currency Fund | |
Prudential Jennison Global Opportunities Fund | |
Prudential Jennison International Opportunities Fund | |
Prudential Jennison Global Infrastructure Fund | |
Prudential Jennison Natural Resources Fund, Inc. | |
Prudential Global Total Return Fund, Inc. |
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Prudential Sector Funds, Inc. | Prudential Financial Services Fund |
Prudential Jennison Health Sciences Fund | |
Prudential Jennison Utility Fund | |
Prudential Short-Term Corporate Bond Fund, Inc. | |
The Target Portfolio Trust | Small Capitalization Value Portfolio |
Small Capitalization Growth Portfolio | |
Large Capitalization Value Portfolio | |
Large Capitalization Growth Portfolio | |
International Equity Portfolio | |
Mortgage-Backed Securities Portfolio | |
Total Return Bond Portfolio | |
Intermediate-Term Bond Portfolio | |
The Prudential Variable Contract Account-2 | |
The Prudential Variable Contract Account-10 | |
The Prudential Variable Contract Account-11 |
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