Supplement dated March 18, 2016 to
the
Currently Effective Statutory Prospectus and Statement of Additional Information (SAI)
of each of the Funds Listed Below (the Funds)
Effective March 30, 2016, the following changes are made to each Fund’s Statutory Prospectus and SAI, and are in addition to any existing supplement for each Fund. You should read this Supplement in conjunction with the applicable Statutory Prospectus and SAI and retain it for future reference.
As previously communicated, effective on or about March 30, 2016, in connection with the amendments to Rule 2a-7 under the Investment Company Act of 1940 (“Rule 2a-7”), the following changes will take place: (1) Prudential Core Taxable Money Market Fund, a series of Prudential Investment Portfolios 2, will be repositioned from a money market fund to an ultra-short bond fund and will be renamed “Prudential Core Ultra Short Bond Fund”; and (2) Prudential MoneyMart Assets, Inc. will begin operating as a “government money market fund,” as defined in Rule 2a-7, and will be renamed “Prudential Government Money Market Fund, Inc.”
As a result, the following changes are made:
1. In the Statutory Prospectus and SAI of each Fund: (i) all references to “Prudential MoneyMart Assets” or “Prudential MoneyMart Assets, Inc.” are hereby deleted and replaced with “Prudential Government Money Market Fund, Inc.”; (ii) all references to “affiliated money market funds” are hereby deleted and replaced with “affiliated short-term bond funds and/or affiliated or unaffiliated money market funds”; and (iii) all references to “Prudential Core Taxable Money Market Fund” are hereby deleted and replaced with “Prudential Core Ultra Short Bond Fund.”
2. In the SAI of each Fund, the second paragraph of the section entitled “Investment Risks and Considerations: Securities Lending” is deleted in its entirety and replaced with the following:
“The Fund may invest the cash collateral and/or it may receive a fee from the borrower. To the extent that cash collateral is invested, it will be invested in an affiliated short-term bond fund and will be subject to market depreciation or appreciation. The Fund will be responsible for any loss that results from this investment of collateral.”
[List of funds follows]
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Investment Company Name/Fund Name | |
Prudential Global Total Return Fund, Inc. | Prudential Investment Portfolios, Inc. 14 |
Prudential Investment Portfolios, Inc. | Prudential Government Income Fund |
Prudential Balanced Fund | Prudential Floating Rate Income Fund |
Prudential Jennison Equity Opportunity Fund | Prudential Investment Portfolios, Inc. 15 |
Prudential Jennison Growth Fund | Prudential High Yield Fund |
Prudential Conservative Allocation Fund | Prudential Short Duration High Yield Income Fund |
Prudential Growth Allocation Fund | Prudential Investment Portfolios 16 |
Prudential Moderate Allocation Fund | Prudential Income Builder Fund |
Prudential Investment Portfolios 2 | Prudential QMA Defensive Equity Fund |
Prudential Core Short Term Bond Fund | Prudential Investment Portfolios, Inc. 17 |
Prudential Taxable Core Money Market Fund | Prudential Short Duration Multi-Sector Bond Fund |
Prudential Investment Portfolios 3 | Prudential Total Return Bond Fund |
Prudential Global Absolute Return Bond Fund | Prudential Investment Portfolios 18 |
Prudential QMA Global Tactical Allocation Fund | Prudential Jennison 20/20 Focus Fund |
Prudential Jennison Select Growth Fund | Prudential Jennison MLP Fund |
Prudential Real Assets Fund | Prudential Jennison Blend Fund, Inc. |
Prudential QMA Strategic Value Fund | Prudential Jennison Mid-Cap Growth Fund, Inc. |
Prudential Unconstrained Bond Fund | Prudential Jennison Natural Resources Fund, Inc. |
Prudential Investment Portfolios 4 | Prudential Jennison Small Company Fund, Inc. |
Prudential Muni High Income Fund | Prudential MoneyMart Assets, Inc. |
Prudential Investment Portfolios 5 | Prudential National Muni Fund, Inc. |
Prudential Jennison Conservative Growth Fund | Prudential Sector Funds, Inc. |
Prudential Jennison Rising Dividend Fund | Prudential Financial Services Fund |
Prudential Investment Portfolios 6 | Prudential Jennison Health Sciences Fund |
Prudential California Muni Income Fund | Prudential Jennison Utility Fund |
Prudential Investment Portfolios 7 | Prudential Short-Term Corporate Bond Fund, Inc. |
Prudential Jennison Value Fund | Prudential World Fund, Inc. |
Prudential Investment Portfolios 8 | Prudential QMA International Equity Fund |
Prudential QMA Stock Index Fund | Prudential Emerging Markets Debt Local Currency Fund |
Prudential Investment Portfolios 9 | Prudential Jennsion Emerging Markets Equity Fund |
Prudential Absolute Return Bond Fund | Prudential Jennison Global Infrastructure Fund |
Prudential International Real Estate Fund | Prudential Jennison Global Opportunities Fund |
Prudential Large-Cap Core Equity Fund | Prudential Jennison International Opportunities Fund |
Prudential Real Estate Income Fund | The Target Portfolio Trust |
Prudential Select Real Estate Fund | Target International Equity Portfolio |
Prudential Investment Portfolios, Inc. 10 | Prudential Corporate Bond Fund |
Prudential Jennison Equity Income Fund | Prudential QMA Small Cap Value Fund |
Prudential QMA Mid-Cap Value Fund | Prudential Core Bond Fund |
Prudential Investment Portfolios 12 | The Prudential Variable Contract Account-2 |
Prudential Global Real Estate Fund | The Prudential Variable Contract Account-10 |
Prudential US Real Estate Fund | The Prudential Variable Contract Account-11 |
Prudential QMA Long-Short Equity Fund | The Prudential Variable Contract Account-24 |
Prudential Short Duration Muni High Income Fund |
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