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Prudential Investments launches three new fixed income funds

^{Published on 2011-04-07 13:30:33 - Market Wire}
 

NEWARK, N.J.--([ BUSINESS WIRE ])--[ Prudential Investments ] has begun offering three new fixed income funds: the Prudential Floating Rate Income Fund, the Prudential Absolute Return Bond Fund, and the Prudential Emerging Markets Debt Local Currency Fund. Prudential Investments is the mutual fund family of Prudential Financial Inc. (NYSE: PRU).

"Two of our new funds help protect against changing market conditions and may reduce interest rate risk, while the third fund focuses on helping investors take advantage of growing opportunities in developing markets."

aTodaya™s historically low interest rates have many investors concerned that if rates start rising, it could have a negative impact on their bond investments,a said Judy Rice, president of Prudential Investments. aTwo of our new funds help protect against changing market conditions and may reduce interest rate risk, while the third fund focuses on helping investors take advantage of growing opportunities in developing markets.a

• The Prudential Absolute Return Bond Fund [ (A: PADAX) ]: seeks to generate positive returns over time regardless of market conditions by investing across a broad range of sectors and securities. Its flexible strategy uses a variety of investment techniques, which may include managing duration and credit quality, yield curve positioning, and currency exposure.
• The Prudential Floating Rate Income Fund [ (A: FRFAX) ]: invests primarily in floating rate loans and other floating rate debt securities. Floating rates loans have historically offered attractive yield and stability in times of rising interest rates.
• The Prudential Emerging Markets Debt Local Currency Fund[ (A: EMDAX) ]invests primarily in currencies and fixed income securities denominated in the local currencies of emerging market countries. Many of these countries are growing faster, have less debt, and maintain lower national budget deficits than their counterparts in developed countries.

The portfolio managers for all three funds are part of [ Prudential Fixed Income, ] which has been managing fixed income portfolios since 1875 and is among the largest fixed income managers in the U.S. with about $270 billion in assets under management as of December 31, 2010. The principal managers for each fund average more than 20 years of industry experience.

Prudential Investments offers mutual funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities. Please visit [ http://www.prudentialfunds.com ] for more information on Prudential Investments and these new fixed income funds.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $784 billion of assets under management as of December 31, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudentiala™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, investment management, and real estate services. In the U.S., Prudentiala™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 ].

Fund risk information

Mutual fund investing involves risks. Some funds are riskier than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated fixed income investments ("junk bonds") have speculative characteristics, including particularly credit risk. Investments in foreign securities are subject to currency risk, and to economic and political developments in the countries where the foreign issuer is located or the security is traded. Also, investments in emerging markets may be less liquid and subject to more price volatility than investments in developed countries. There is no guarantee the respective Fund's objective(s) will be achieved. The risks associated with each Fund are explained more fully in the respective Fund's prospectus.

Consider a funda™s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and, if available, the summary prospectus, contain this and other information about the Fund. Contact the Prudential Investments Sales Desk at (800) 257-3893 to obtain a copy of the prospectus and, if available, the summary prospectus. Read it carefully before investing.

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

Control Number:0198822-00001-00