Prudential Financial : Investments continues to lower fees for multiple mutual funds

NEWARK, N.J., October 17, 2016 - Prudential Investments has reduced expenses for several of its mutual funds, including the Prudential Total Return Bond Fund (Class Q: PTRQX), with $17.1 billion in net assets. The list also includes the Prudential Global Total Return Fund, Inc. (Class Q: PGTQX), recently recognized by the 2016 Lipper Fund Awards as best in class among its peers for global income based on 10-year performance. Prudential Investments is the mutual fund group of PGIM, a top 10 global investment manager with more than $1 trillion in assets under management and the global investment management business of Prudential Financial, Inc. (NYSE: PRU).

The lower fees, the result of new contractual expense caps adopted throughout 2016, are effective immediately. Changes are as follows:

The following table showcases the new contractual expense caps for the funds that do not currently offer Class Q shares.

'Our ongoing evaluation of expenses underscores our commitment to delivering performance and value to shareholders,' said Stuart Parker, president of Prudential Investments.

In the past five years, Prudential Investments has administered several fee reductions, passing along $30.2 million in savings to investors through Aug. 31, 2016.

Prudential Investments remains among the industry's fastest growing fund families and ranks among the top five fastest organically growing U.S. mutual funds between 2008 and 2015, according to industry rankings. As of September 30, 2016, 74 percent of Prudential's mutual funds outperformed their Morningstar categories over 10 years.

About PGIM

With 13 consecutive years of positive third-party institutional net flows, PGIM is among the top 10 largest asset managers in the world with more than $1 trillion in assets under management (as of 06/30/16).PGIM's businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents. For more information, please visit https://www.pgim.com.

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of June 30, 2016, 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 US, 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.

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.

Only eligible investors, including certain group retirement plans, institutional investors and certain other investors may purchase Class Q shares. See the prospectus for eligibility requirements.

In the Lipper Fund Awards, funds had to be registered for sale in the respective country as of the end of 2015 and the fund had to have at least 36 months of performance history as of the end of the evaluation year. S&P 500 Index funds, specialty diversified equity funds and specialty/miscellaneous funds were not eligible to receive classification awards. Rankings do not take sales charges into account. Past performance is no guarantee of future results.

The Lipper Fund Awards are based on risk-adjusted returns for the three-, five-, and 10-year periods ending 11/30/2015 using Lipper's proprietary, quantitative fund rating methodology. Prudential Global Total Return Fund- #1 Global Income Fund (Class Z) out of 76 funds for the 10-year period ended 11/30/2015. Rankings for the 3- and 5-year periods were 72 out of 182 and 28 out of 130 funds, respectively. The awards are based on the risk-adjusted returns for the period ended 11/30/2011

Mutual fund investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lost money.

Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and the summary prospectus contain this and other information about the fund. Contact the Prudential Investments Sales Desk at (800) 257-3893 to obtain the prospectus and the summary prospectus. Read them carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. QMA is the primary business name of Quantitative Management Associates LLC, a wholly owned subsidiary of PGIM. Prudential Fixed Income and PGIM Real Estate are units of PGIM. © 2016 Prudential Financial, Inc. and its related entities. PGIM Real Estate, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

Source: Strategic Insights (as of December 2015)
Source: Simfund, as of December 31, 2015, among top 50 competitors between 2008 and 4Q2015.

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