Prudential Short Duration Muni High Income Fund

Seeks high current income that is exempt from federal income taxes by investing in a diversified blend of shorter duration municipal bonds, while maintaining a weighted average portfolio duration of 4.5 years or less.  The Fund may be suited to those who are seeking income that is generally free from federal income taxes with less interest rate risk than longer duration municipal bond funds.
 
 

Growth of $10,000

 
 
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges. If shown with sales charges, performance would have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.


Portfolio Attributes as of 10/31/2017

Largest Issuers (% of Assets)
State Of IL
4.8 %
City of Chicago
2.9
Buckeye OH TOB Settlement
2.5
Chicago IL Wtr Rev Sec Lien
2.3
Philadelphia PA Hosp & Hgr Ed Temple Univ Hosp
2.2
Chicago IL Wastewater Transmission
1.9
Central Tex Regl Mobility Auth
1.8
Tobacco Settlement Fing NJ
1.7
Chicago IL BRD Ed
1.6
Terminal One Group Association
1.6
Top Ten (of 146) 23.3
Sector Breakdown (% of Assets)
Healthcare
19.1 %
Special Tax/Assessment District
13.5
Corporate Backed IDB & PCR
11.6
Education
10.8
General Obligation
10.7
Transportation
8.3
Tobacco
6.4
Power
6.3
Water & Sewer
5.8
Lease Backed Certificate of Participation
3.4
Other Muni
1.6
Other
3.7
Cash/Equiv
-1.3
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Total number of holdings based on issuers. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding. Negative holdings reflect outstanding trades at period end.

Key Fund Details

 
ClassFund IDCusipTicker
A1107744336835PDSAX
C1108744336827PDSCX
Q1183744336744PDSQX
Z1109744336819PDSZX
 

 
Fund Statistics
AMT (%)
12.5
Average Effective Maturity (years)
4.7
Duration
3.8

 
 
Fixed income investments are subject to credit, market, and interest rate risk, and their value will decline as interest rates rise. The Fund will invest in high yield (“junk”) bonds, which are subject to greater credit and market risks. The Fund is subject to fixed income obligations and municipal bonds risk, where the Fund's holdings, share price, yield and total return may fluctuate in response to bond market movements and municipal bond market movements. The risks associated with the Fund are more fully explained in the prospectus. These risks may increase the Fund's share price volatility. There is no guarantee the Fund’s objective will be achieved.

AMT is the percentage of bonds in the portfolio subject to alternative minimum tax. Average Effective Maturity is a measure of maturity which takes into account the possibility of bonds being called prior to maturity. Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Due to data availability, statistics may not be as of the current reporting period.

Source: PGIM, Inc. (PGIM) and Lipper Inc. PGIM is a Prudential Financial company.

Class Q and Z shares may be available to group retirement plans and 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. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS) and member SIPC. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PIMS and PGIM are Prudential Financial companies. The Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

These materials are for informational or educational purposes only. The information is not intended as investment advice and is not a recommendation about managing or investing assets. In providing these materials PGIM Investments is not acting as your fiduciary as defined by the Department of Labor.

Mutual funds are not insured by the FDIC or any federal government agency, are not a deposit of or guaranteed by any bank or any bank affiliate, and may lose value.


Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.


0262465-00014-00    Ed. 7/2017

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Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges. If shown with sales charges, performance would have been lower. Click here to view the most recent Monthly Performance.