Morningstar Advisor - October/November 2010 - 2

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus contains this and other information about the fund. Contact your financial professional for a prospectus and read it carefully before investing. The Fund seeks long-term capital appreciation by employing a “market neutral” strategy that utilizes both long and short equity positions. The Fund may invest in derivative securities, which may carry market, credit, and liquidity risks; small- and mid-cap stocks, which may be subject to more erratic market movements than large-cap stocks; foreign securities, which are subject to the risks of currency fluctuation and political uncertainty; and short selling (borrowing securities), which may prevent it from implementing its investment strategy due to its obligation to cover its short position at a higher price, resulting in a loss. This loss is potentially unlimited. In addition, selling short is a form of leverage, which may exaggerate an increase or decrease in the Fund’s NAV. See the Fund’s prospectus for complete details of these risks. These risks may result in greater share price volatility. There is no assurance the Fund’s objective will be achieved. It is anticipated that the Fund will typically have low net exposure to the equity markets and therefore the Fund’s returns should not be significantly affected by broad equity market movements. In pursuing its market neutral strategy, the Fund seeks total return greater than the return on 3-Month U.S. Treasury Bills, as measured by the Citigroup 3-Month T-Bill Index. The index return is similar to the return an investor could expect from the Fund (gross of fees) if the Fund’s managers do not generate alpha in a given period. There is no assurance the Fund’s objective will be achieved. Alpha measures risk-adjusted performance, factoring in the risk due to the specific portfolio rather than the overall market. A high value for alpha implies that the portfolio has performed better than would have been expected, given its volatility. The Citigroup 3-Month T-Bill Index is an unmanaged index representing monthly return equivalents of yield averages of the last 3-month Treasury Bill issues. It is not possible to invest directly in an index.
©2010. Prudential Financial. Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Jennison Associates is a Prudential Financial company. Prudential Investments, Prudential, Jennison Associates, Jennison, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide. 0184794-00001-00

Smoother
Seek equity-like returns with downside protection potential.

Prudential Jennison Market Neutral Fund
Class A PJNAX

Help your need achieve e their goals,clients pursue the equity-like returns theyand lesstovolatility. but with potential downside protection Combining a fundamental all-cap long portfolio managed by leading stock pickers from Jennison Associates, and a quantitative short portfolio, Prudential Jennison Market Neutral Fund seeks to maximize our alpha-generating skill while offsetting market exposure. For a fund fact sheet and copy of our Market Neutral white paper, investment professionals can call the Prudential Investments sales desk or visit us online.

800-257-3893 prudentialfunds.com/smooth
http://www.prudentialfunds.com/smooth http://www.prudentialfunds.com/smooth
Morningstar Advisor - October/November 2010

Table of Contents for the Digital Edition of Morningstar Advisor - October/November 2010
