Prudential Investments® has launched the Prudential Income Builder Fund (NASDAQ:PCGAX), a fund that offers investors the potential for income and long-term capital growth by investing primarily in income-focused equity, fixed income and non-traditional investments. Prudential Investments is the mutual fund business of Prudential Financial, Inc. (NYSE:PRU).

The fund, which is a repositioning of the Target Conservative Allocation Fund, is designed to appeal to investors interested in a diversified approach to income investing. The fund has the flexibility to invest in stocks, bonds, and non-traditional sources including master limited partnerships, global real estate and infrastructure. Investing in a dynamically managed, diversified portfolio may help lessen the impact of rising rates and could potentially provide sources of higher income while helping to reduce risk.

QMA1 will manage the fund’s allocations, tactically adjusting the fund’s assets between the equity and fixed income market segments, as well as among other sub-classes. The asset allocation team, which includes Ted Lockwood, managing director and portfolio manager; Ed Campbell, principal and portfolio manager; and Rory Cummings, portfolio manager, identifies investment opportunities by combining proprietary asset allocation analyses with the insights from a seasoned portfolio management team. The asset allocation team averages 22 years of investment experience. Managing the underlying asset classes will be fund subadvisers Jennison Associates, Prudential Fixed Income and Prudential Real Estate Investors. The subadvisers are sector specialists and have the experience and flexibility to seek investment opportunities within their respective asset classes.

“This fund offers a diversified approach to income that can adapt to changing market conditions,” said Stuart Parker, president of Prudential Investments. “It is designed to take advantage of the income-generating capabilities of our asset managers and offers the flexibility investors are looking for to help address their long-term income needs.”

The fund is available in the following share classes: A: PCGAX, C: PCCFX, R: PCLRX, and Z: PDCZX.

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.

QMA, an asset management business of Prudential Financial, had more than $114 billion in assets under management as of June 30, 2014. QMA manages traditional, alternative, and asset allocation portfolios for institutional pension plans, endowments, foundations, and sub-advisory accounts for other financial services companies.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1.1 trillion of assets under management as of June 30, 2014, 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 U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for more than a century. For more information, please visit 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 may invest in foreign securities, which are subject to currency fluctuation and political uncertainty, high yield (“junk”) bonds, which are subject to greater credit and market risks, real estate, which poses certain risks related to overall and specific economic conditions as well as risks related to individual property, credit, and interest-rate fluctuations, infrastructure companies, which may make the Fund more susceptible to adverse economic, social, political, and regulatory occurrences affecting the infrastructure industry, and master limited partnerships (MLPs) and MLP-related investments, which are subject to complicated and in some cases unsettled accounting, tax, and valuation issues, as well as risks related to conflicts of interest, cash flow, dilution, and limited liquidity, and risks related to the general partner’s right to force sales at undesirable times or prices. MLPs are also subject to risks relating to their complex tax structure, including losing its tax status as a partnership, resulting in a reduction in the value of the MLP investment and lower income. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise. The risks associated with each fund are explained more fully in each fund’s respective prospectus. For tax advice, clients should consult their tax professional regarding their particular situation. Asset allocation and diversification do not guarantee a profit or protect against loss in declining markets. There is no guarantee that dividends will be paid.

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, a Prudential Financial company. Jennison Associates, Quantitative Management Associates, and Prudential Investment Management, Inc. (PIM) are registered investment advisors and Prudential Financial companies. Prudential Fixed Income and Prudential Real Estate Investors, also known as PREI®, are units of PIM. © 2014 Prudential Financial, Inc. and its related entities. Prudential Investments LLC, Prudential, Jennison Associates, Jennison, 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.

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1 Quantitative Management Associates