PGIM Global Real Estate Fund This fund seeks long-term capital appreciation and income by investing in 30 to 45 domestic and international real estate securities with which its portfolio managers have high confidence, such as 30 to 45 domestic and 45 international real estate securities from domestic or emerging market real estate markets, which may represent up to 40% of its assets (excluding emerging market assets ). Investments made in foreign securities may expose you to additional political, economic and currency risks.

Real estate securities involve many of the same risks as investing in physical real estate directly, including changes in market conditions, supply and demand dynamics, local laws and regulations that may impact ownership or operation, fluctuating share price volatility and fluctuation in net asset value. Furthermore, this Fund may experience variations in its share price and net asset value over time.

Pensions & Investments recently conducted a survey, ranking PGIM Real Estate among the three largest real estate investment managers globally in terms of global real estate assets under management (gross AUM – as of October 2024) out of all 76 firms considered.1

This ranking was determined based on each manager’s ability to add value and maintain stable returns across market cycles, with particular consideration being paid to fundamental real estate practices as well as active management techniques.

PGIM Real Estate’s long-term track record and expertise allow it to navigate challenging market environments successfully. Boasting an expansive client roster and diverse business mix, PGIM Real Estate can adapt quickly to changing client demands and market dynamics.

PGIM Real Estate strives to offer clients a consistent, sustainable return by investing in quality assets in the most desirable market segments, actively managing each property to optimize potential for value creation, and adhering to the Urban Land Institute Greenprint Center for Building Performance’s Net Zero Carbon goal of becoming carbon neutral by 2050 for its portfolio of managed properties.

Recently, PGIM Real Estate acquired two prime office assets at 20 Bridge Street in Sydney’s Central Business District to capture rental growth opportunity and demonstrate investors’ preference for high-quality investments. They also acquired high-quality industrial and logistics assets in Yatala.

PGIM Real Estate is the primary real estate investment management business of PGIM, Inc. Through various funds such as its flagship PGIM Funds series as well as separately managed accounts and commingled vehicles, PGIM provides investment services. Prior to investing, investors must carefully consider a fund’s investment objectives, risks, charges and expenses. A prospectus and summary prospectus provide this and other crucial information about it; please reach out to your financial professional for a copy. Investment advice is provided through PGIM Advisors, LLC; however, PGIM Investments LLC and its affiliates do not provide tax or legal advice; for further assistance it is wise to consult a competent tax or legal advisor. All rights are reserved by 2019 PGIM Investments, LLC unless stated otherwise. PGIM(r) is registered trademark owned by Prudential Financial, Inc.