each year, that the Fund's operating expenses
remain the same (except that fee waivers or reimbursements, if any, are only reflected in the 1-Year figures) and that all dividends and distributions are reinvested. Your actual costs may be higher or lower.
| If Shares Are Redeemed
| If Shares Are Not Redeemed
|
Share Class
| 1 Year
| 3 Years
| 5 Years
| 10 Years
| 1 Year
| 3 Years
| 5 Years
| 10 Years
|
Class A
| $642
| $997
| $1,376
| $2,436
| $642
| $997
| $1,376
| $2,436
|
Class B
| $673
| $992
| $1,338
| $2,474
| $173
| $692
| $1,238
| $2,474
|
Class C
| $273
| $692
| $1,238
| $2,729
| $173
| $692
| $1,238
| $2,729
|
Class R
| $122
| $592
| $1,088
| $2,456
| $122
| $592
| $1,088
| $2,456
|
Class Z
| $72
| $385
| $721
| $1,671
| $72
| $385
| $721
| $1,671
|
Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher
transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance.
During the Fund's most recent fiscal period, the Fund's portfolio turnover rate was 140% of the average value of its portfolio.
INVESTMENTS, RISKS AND
PERFORMANCE
Principal Investment Strategies. In order to achieve its investment objective, the Fund seeks investments that are expected to both generate income and appreciate in value. The Fund seeks to achieve its investment
objectives by investing in a diversified portfolio consisting of a wide variety of income-oriented investments and strategies within the equity and fixed income market segments. The Fund may invest approximately 20%
to 80% of its total assets in equity and equity-related securities. The Fund also may invest approximately 20% to 80% of its total assets in fixed income investments. The Fund gains exposure to the equities and fixed
income market segments by investing in varying combinations of other Prudential mutual funds (the Underlying Prudential Funds), exchange traded funds (ETFs, and together with the Underlying Prudential Funds, the
Underlying Funds) and direct investments by the Fund's subadvisers. Investments in Underlying Funds will be included in the applicable market segment based on the primary investment focus of the Underlying
Funds.
Quantitative Management Associates
LLC (QMA), one of the Fund’s subadvisers, will tactically allocate the Fund's assets among the different sub-classes within equities and equity-related securities and fixed income investments. Asset allocation
decisions will be determined using a combination of quantitative tools and the judgment of QMA's investment professionals.
Equity and Equity-Related
Securities. The Fund's equity and equity-related securities include common stock, securities convertible or exchangeable for common stock or the cash value of such common stock, structured notes,
preferred securities, warrants and rights, Underlying Prudential Funds, ETFs, investments in various types of business ventures including partnerships and joint ventures and business development companies, real estate
securities, securities of real estate investment trusts (REITs) and income and royalty trusts, American Depositary Receipts and other similar securities issued by US or foreign companies of any market capitalization.
The Fund may invest in securities issued in an initial public offering (IPO). The Fund may invest up to 25% of total assets in publicly-traded master limited partnerships (MLPs).
Fixed Income Investments. The Fund's fixed income investments include Underlying Funds and all types of bonds of varying maturities and credit quality (including “junk” bonds), such as US Government
securities, debentures, notes, commercial paper, mortgage-related and asset-backed securities, convertibles, loan assignments and participations, corporate debt securities, money market instruments, foreign securities
(including emerging market securities) and other similar investments. Such investments may be denominated in US currency or foreign currencies (including currencies of emerging markets) and may consist of fixed income
instruments of companies or governments of US or foreign issuers, including emerging markets.
The Fund's investments in high
yield fixed income investments (commonly referred to as “junk” bonds) generally are rated either Ba1 or lower by Moody’s Investors Service (Moody’s), BB+ or lower by Standard & Poor’s
Ratings Services, a division of The McGraw Hill Companies, Inc. (Standard & Poor’s), or comparably rated by another nationally recognized statistical rating organization (NRSRO), or, if unrated, are
considered by Prudential Fixed Income (PFI), a business unit of Prudential Investment Management, Inc. (PIM), one of the Fund’s subadvisers, to be of comparable quality.
More detailed information appears
in the section entitled How the Fund Invests.
Principal Risks of Investing in the
Fund. All investments have risks to some degree. Loss of money is a risk of investing in the Fund. Please remember that an investment in the Fund is not guaranteed to achieve its investment
objective; is not a deposit with a bank; is not insured, endorsed or guaranteed by the Federal Deposit Insurance Corporation or any other government agency; and is subject to investment risks, including possible loss
of your original investment.
Set forth below is a description of
the principal risks associated with an investment in the Fund either through direct investments or indirectly through the Fund’s investments in the Underlying Funds.