Prudential Investments launches Global Absolute Return Bond Fund

NEWARK, N.J.--(BUSINESS WIRE)--

Prudential Investments^® has expanded its lineup of non-traditional bond funds with the launch of the Prudential Global Absolute Return Bond Fund PAJAX. It offers investors the potential to earn long-term positive returns, regardless of market conditions, the company announced today. Prudential Investments is the mutual fund business of Prudential Financial, Inc. PRU.

The fund, managed by a team from Prudential Fixed Income, is designed to address investors' appetite for globally diversified bond funds, while also offering the potential for protection against rising interest rates. The fixed income team's members include Michael Collins, Managing Director and Senior Investment Officer; Robert Tipp, Managing Director, Chief Investment Strategist, and Head of Global Bonds; and Arvind Rajan, Managing Director and Head of Global and Macro. The team will draw from the full resources of Prudential Fixed Income and the expertise of its dedicated sector teams. Prudential Fixed Income is one of the most experienced fixed income managers in the United States¹.

"It takes a global view and a multi-sector approach to meet investors' long-term needs, and Prudential Fixed Income's broad global platform, and depth of credit expertise, is well-suited to meet those investment needs," said Stuart Parker, president of Prudential Investments.

The new fund is the fifth in a series of multi-sector fixed income funds.

Said Collins of the Global Absolute Return Bond Fund, "The portfolio is built to offer the flexibility to shift strategies and explore any sector, depending on risks within the credit environment, currencies or interest rates as we take clients through any market condition."

Other funds include the Prudential Total Return Bond Fund, Prudential Global Total Return Fund, Prudential Unconstrained Bond Fund and the Prudential Absolute Return Bond Fund.

The newest fund is available in the following share classes: A: PAJAX, C: PAJCX, Q: PAJQX and Z: PAJZX.

Prudential Investments is the fund business of Prudential Financial, Inc., offering a range of open- and closed-end funds. Please visit www.prudentialfunds.com for more information.

Prudential Fixed Income, with $565 billion in assets under management as of September 30, 2015, offers institutional investors needs-based solutions across all fixed income markets, with a focus on credit strategies and liability-driven investing. Prudential Fixed Income has portfolio management and research teams in Newark, N.J., London and Singapore. For more information, please visit http://www.prudentialfixedincome.com.

Prudential Financial, Inc., a financial services leader with over $1.1 trillion of assets under management as of September 30, 2015, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the United States, Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

Mutual fund investing involves risks. Some mutual funds have more risk than others. The investment return and principal value will fluctuate, and the investment, when sold, may be worth more or less than the original cost. There is no guarantee the Fund's objectives will be achieved. The Fund invests in fixed income investments, which are subject to interest rate risk, where their value will decline as interest rates rise. The risks associated with the fund are explained more fully in the fund's respective prospectus. For tax advice, clients should consult their tax professional regarding their particular situation. Diversification does not guarantee a profit or protect against loss in declining markets.

Class Z shares are available to institutional investors through certain retirement, mutual fund wrap and asset allocation programs, and to institutions at an investment minimum of $5,000,000. Performance by share class may vary. Other share classes, which contain either a sales load or a contingent deferred sales charge, are also available. These expenses could lower total fund return. Please see the prospectus for additional information about fees, expenses and investor eligibility requirements.

Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Read the prospectus and summary prospectus carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC. Prudential Fixed Income is a unit of Prudential Investment Management, Inc. (PIM) and a registered investment adviser. All are Prudential Financial companies. © 2015 Prudential Financial, Inc. and its related entities. Prudential Investments LLC, Prudential, the Prudential logo, Bring Your Challenges, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

¹Founded in 1875 with $565B in assets under management as of 9/30/2015.

Control number: 0284876-00001-00

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