PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Long-Term Investments 95.2% | |||||
Corporate Bonds 24.6% | |||||
Azerbaijan 0.4% | |||||
Southern Gas Corridor CJSC, Gov’t. Gtd. Notes | 6.875 % | 03/24/26 | 450 | $462,319 | |
State Oil Co. of the Azerbaijan Republic, Sr. Unsec’d. Notes | 6.950 | 03/18/30 | 400 | 416,450 | |
878,769 | |||||
Bahrain 0.5% | |||||
Oil & Gas Holding Co. BSCC (The), | |||||
Sr. Unsec’d. Notes | 7.625 | 11/07/24 | 400 | 409,950 | |
Sr. Unsec’d. Notes | 8.375 | 11/07/28 | 500 | 534,312 | |
944,262 | |||||
Brazil 0.6% | |||||
Banco do Brasil SA, Sr. Unsec’d. Notes | 4.875 | 01/11/29 | 200 | 188,975 | |
Globo Comunicacao e Participacoes SA, Sr. Unsec’d. Notes | 4.875 | 01/22/30 | 200 | 169,912 | |
JSM Global Sarl, Gtd. Notes, 144A | 4.750 | 10/20/30(d) | 400 | 65,000 | |
Nexa Resources SA, Gtd. Notes | 6.500 | 01/18/28 | 410 | 404,721 | |
Petrobras Global Finance BV, | |||||
Gtd. Notes | 5.093 | 01/15/30 | 80 | 75,368 | |
Gtd. Notes | 5.375 | 10/01/29 | GBP | 100 | 109,477 |
Gtd. Notes(a) | 5.600 | 01/03/31 | 115 | 110,952 | |
Suzano Austria GmbH, Gtd. Notes | 3.750 | 01/15/31 | 150 | 127,958 | |
1,252,363 | |||||
Chile 1.3% | |||||
Alfa Desarrollo SpA, Sr. Sec’d. Notes, 144A | 4.550 | 09/27/51 | 199 | 160,274 | |
Corp. Nacional del Cobre de Chile, | |||||
Sr. Unsec’d. Notes | 3.000 | 09/30/29 | 200 | 178,412 | |
Sr. Unsec’d. Notes | 4.250 | 07/17/42 | 360 | 308,288 | |
Sr. Unsec’d. Notes | 4.875 | 11/04/44 | 600 | 562,425 | |
Sr. Unsec’d. Notes | 6.150 | 10/24/36 | 100 | 106,988 | |
Sr. Unsec’d. Notes, 144A | 4.875 | 11/04/44 | 200 | 187,475 |
1
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Chile (cont’d.) | |||||
Corp. Nacional del Cobre de Chile, (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A | 5.125 % | 02/02/33 | 200 | $200,398 | |
Empresa Nacional del Petroleo, Sr. Unsec’d. Notes, 144A | 3.450 | 09/16/31 | 200 | 169,912 | |
Interchile SA, Sr. Sec’d. Notes, 144A | 4.500 | 06/30/56 | 200 | 169,875 | |
Mercury Chile Holdco LLC, Sr. Sec’d. Notes | 6.500 | 01/24/27 | 400 | 384,300 | |
VTR Finance NV, Sr. Unsec’d. Notes | 6.375 | 07/15/28 | 200 | 82,676 | |
2,511,023 | |||||
China 1.0% | |||||
Agile Group Holdings Ltd., Sr. Sec’d. Notes | 6.050 | 10/13/25 | 200 | 112,500 | |
CNAC HK Finbridge Co. Ltd., | |||||
Gtd. Notes | 3.000 | 09/22/30 | 300 | 256,115 | |
Gtd. Notes | 3.875 | 06/19/29 | 500 | 458,815 | |
ENN Clean Energy International Investment Ltd., Gtd. Notes, 144A | 3.375 | 05/12/26 | 200 | 180,250 | |
New Metro Global Ltd., Gtd. Notes | 4.800 | 12/15/24 | 200 | 170,000 | |
Prosus NV, Sr. Unsec’d. Notes, 144A | 4.193 | 01/19/32 | 550 | 471,226 | |
Sinopec Group Overseas Development 2012 Ltd., Gtd. Notes | 4.875 | 05/17/42 | 200 | 195,160 | |
Sinopec Group Overseas Development 2018 Ltd., Gtd. Notes, 144A | 3.680 | 08/08/49 | 200 | 161,000 | |
Sunac China Holdings Ltd., Sr. Sec’d. Notes | 6.500 | 01/10/25(d) | 200 | 57,000 | |
2,062,066 | |||||
Colombia 0.7% | |||||
Colombia Telecomunicaciones SA ESP, Sr. Unsec’d. Notes, 144A | 4.950 | 07/17/30 | 200 | 172,912 | |
Ecopetrol SA, | |||||
Sr. Unsec’d. Notes | 4.625 | 11/02/31 | 76 | 59,854 | |
Sr. Unsec’d. Notes | 6.875 | 04/29/30 | 453 | 422,300 | |
Sr. Unsec’d. Notes | 8.875 | 01/13/33 | 476 | 487,329 |
2
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Colombia (cont’d.) | |||||
Grupo Aval Ltd., Gtd. Notes, 144A | 4.375 % | 02/04/30 | 200 | $164,740 | |
1,307,135 | |||||
Costa Rica 0.1% | |||||
Instituto Costarricense de Electricidad, Sr. Unsec’d. Notes, 144A | 6.750 | 10/07/31 | 200 | 191,413 | |
Ghana 0.1% | |||||
Tullow Oil PLC, Sr. Sec’d. Notes, 144A | 10.250 | 05/15/26 | 200 | 171,500 | |
Guatemala 0.4% | |||||
CT Trust, Sr. Sec’d. Notes, 144A | 5.125 | 02/03/32 | 200 | 174,500 | |
Energuate Trust, Gtd. Notes | 5.875 | 05/03/27 | 400 | 381,450 | |
Millicom International Cellular SA, Sr. Unsec’d. Notes, 144A | 4.500 | 04/27/31 | 200 | 169,300 | |
725,250 | |||||
India 1.7% | |||||
Adani Ports & Special Economic Zone Ltd., Sr. Unsec’d. Notes, 144A | 5.000 | 08/02/41 | 200 | 139,000 | |
Azure Power Solar Energy Pvt. Ltd., Sr. Sec’d. Notes, 144A, MTN | 5.650 | 12/24/24 | 200 | 167,000 | |
CA Magnum Holdings, Sr. Sec’d. Notes, 144A | 5.375 | 10/31/26 | 400 | 368,000 | |
GMR Hyderabad International Airport Ltd., Sr. Sec’d. Notes | 4.250 | 10/27/27 | 400 | 347,700 | |
HPCL-Mittal Energy Ltd., Sr. Unsec’d. Notes | 5.250 | 04/28/27 | 400 | 372,000 | |
NTPC Ltd., Sr. Unsec’d. Notes, EMTN | 2.750 | 02/01/27 | EUR | 100 | 100,072 |
Periama Holdings LLC, Gtd. Notes | 5.950 | 04/19/26 | 400 | 383,950 | |
Power Finance Corp. Ltd., | |||||
Sr. Unsec’d. Notes | 4.500 | 06/18/29 | 800 | 744,150 | |
Sr. Unsec’d. Notes, 144A, MTN | 6.150 | 12/06/28 | 200 | 204,870 | |
3
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
India (cont’d.) | |||||
Reliance Industries Ltd., Sr. Unsec’d. Notes, 144A | 3.625 % | 01/12/52 | 250 | $177,632 | |
Summit Digitel Infrastructure Ltd., Sr. Sec’d. Notes, 144A | 2.875 | 08/12/31 | 235 | 186,938 | |
TML Holdings Pte Ltd., Sr. Unsec’d. Notes | 5.500 | 06/03/24 | 200 | 193,500 | |
3,384,812 | |||||
Indonesia 2.1% | |||||
Cikarang Listrindo Tbk PT, Sr. Unsec’d. Notes, 144A | 4.950 | 09/14/26 | 200 | 189,037 | |
Freeport Indonesia PT, Sr. Unsec’d. Notes, 144A, MTN | 5.315 | 04/14/32 | 200 | 189,522 | |
Indofood CBP Sukses Makmur Tbk PT, Sr. Unsec’d. Notes | 3.541 | 04/27/32 | 200 | 167,522 | |
Indonesia Asahan Aluminium Persero PT, | |||||
Sr. Unsec’d. Notes | 5.450 | 05/15/30 | 700 | 697,506 | |
Sr. Unsec’d. Notes, 144A | 4.750 | 05/15/25 | 200 | 198,022 | |
Pertamina Persero PT, | |||||
Sr. Unsec’d. Notes | 6.000 | 05/03/42 | 200 | 199,500 | |
Sr. Unsec’d. Notes, EMTN | 3.100 | 01/21/30 | 200 | 176,663 | |
Sr. Unsec’d. Notes, EMTN | 3.650 | 07/30/29 | 200 | 184,522 | |
Sr. Unsec’d. Notes, EMTN | 4.700 | 07/30/49 | 200 | 169,788 | |
Sr. Unsec’d. Notes, EMTN | 6.500 | 11/07/48 | 200 | 207,750 | |
Perusahaan Listrik Negara PT, | |||||
Sr. Unsec’d. Notes | 1.875 | 11/05/31 | EUR | 100 | 79,756 |
Sr. Unsec’d. Notes | 2.875 | 10/25/25 | EUR | 200 | 210,336 |
Sr. Unsec’d. Notes, 144A, MTN | 5.450 | 05/21/28 | 620 | 624,526 | |
Sr. Unsec’d. Notes, 144A, MTN | 6.150 | 05/21/48 | 200 | 194,750 | |
Sr. Unsec’d. Notes, EMTN | 4.125 | 05/15/27 | 250 | 241,766 | |
Sr. Unsec’d. Notes, EMTN | 6.150 | 05/21/48 | 400 | 389,500 | |
4,120,466 | |||||
Israel 0.7% | |||||
Bank Leumi Le-Israel BM, Sr. Unsec’d. Notes, 144A | 5.125 | 07/27/27 | 203 | 202,543 | |
Energean Israel Finance Ltd., | |||||
Sr. Sec’d. Notes, 144A | 4.875 | 03/30/26 | 75 | 70,256 | |
Sr. Sec’d. Notes, 144A | 5.375 | 03/30/28 | 385 | 353,045 | |
Sr. Sec’d. Notes, 144A | 5.875 | 03/30/31 | 215 | 192,801 |
4
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Israel (cont’d.) | |||||
Leviathan Bond Ltd., | |||||
Sr. Sec’d. Notes, 144A | 6.125 % | 06/30/25 | 200 | $197,600 | |
Sr. Sec’d. Notes, 144A | 6.750 | 06/30/30 | 300 | 290,869 | |
1,307,114 | |||||
Jamaica 0.1% | |||||
Digicel International Finance Ltd./Digicel International Holdings Ltd., | |||||
Gtd. Notes, 144A (original cost $29,599; purchased 10/23/20)(f) | 8.000 | 12/31/26 | 39 | 16,623 | |
Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $55,933; purchased 10/23/20 - 12/15/22)(f) | 13.000 | 12/31/25 | 59 | 29,463 | |
Sr. Sec’d. Notes, 144A (original cost $97,967; purchased 10/23/20)(f) | 8.750 | 05/25/24 | 97 | 83,263 | |
129,349 | |||||
Kazakhstan 0.8% | |||||
KazMunayGas National Co. JSC, | |||||
Sr. Unsec’d. Notes | 3.500 | 04/14/33 | 200 | 151,876 | |
Sr. Unsec’d. Notes | 4.750 | 04/19/27 | 390 | 361,969 | |
Sr. Unsec’d. Notes | 5.750 | 04/19/47 | 400 | 319,457 | |
Sr. Unsec’d. Notes | 6.375 | 10/24/48 | 400 | 342,000 | |
Sr. Unsec’d. Notes, EMTN | 5.375 | 04/24/30 | 400 | 369,000 | |
1,544,302 | |||||
Kuwait 0.2% | |||||
MEGlobal Canada ULC, Gtd. Notes, 144A, MTN | 5.875 | 05/18/30 | 400 | 414,325 | |
Malaysia 1.3% | |||||
GENM Capital Labuan Ltd., Gtd. Notes | 3.882 | 04/19/31 | 400 | 322,560 | |
Gohl Capital Ltd., Gtd. Notes | 4.250 | 01/24/27 | 250 | 229,688 | |
Petronas Capital Ltd., | |||||
Gtd. Notes, 144A, MTN | 4.550 | 04/21/50 | 800 | 745,150 | |
Gtd. Notes, EMTN | 2.480 | 01/28/32 | 400 | 338,328 |
5
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Malaysia (cont’d.) | |||||
Petronas Capital Ltd., (cont’d.) | |||||
Gtd. Notes, EMTN | 4.550 % | 04/21/50 | 700 | $652,006 | |
Gtd. Notes, EMTN | 4.800 | 04/21/60 | 200 | 193,000 | |
2,480,732 | |||||
Mexico 5.3% | |||||
Cemex SAB de CV, Gtd. Notes(a) | 5.450 | 11/19/29 | 400 | 384,430 | |
Comision Federal de Electricidad, | |||||
Gtd. Notes | 4.688 | 05/15/29 | 510 | 468,021 | |
Gtd. Notes, 144A | 4.688 | 05/15/29 | 200 | 183,538 | |
FEL Energy VI Sarl, Sr. Sec’d. Notes, 144A | 5.750 | 12/01/40 | 217 | 188,264 | |
Fermaca Enterprises S de RL de CV, Sr. Sec’d. Notes | 6.375 | 03/30/38 | 212 | 202,831 | |
Mexico City Airport Trust, | |||||
Sr. Sec’d. Notes | 3.875 | 04/30/28 | 200 | 190,102 | |
Sr. Sec’d. Notes | 4.250 | 10/31/26 | 650 | 627,372 | |
Sr. Sec’d. Notes | 5.500 | 07/31/47 | 1,820 | 1,466,557 | |
Petroleos Mexicanos, | |||||
Gtd. Notes | 5.350 | 02/12/28 | 1,042 | 906,540 | |
Gtd. Notes | 6.350 | 02/12/48 | 376 | 245,302 | |
Gtd. Notes | 6.490 | 01/23/27 | 305 | 285,312 | |
Gtd. Notes | 6.500 | 03/13/27 | 293 | 276,087 | |
Gtd. Notes | 6.500 | 01/23/29 | 830 | 749,531 | |
Gtd. Notes | 6.500 | 06/02/41 | 610 | 434,991 | |
Gtd. Notes | 6.700 | 02/16/32 | 960 | 794,400 | |
Gtd. Notes | 6.840 | 01/23/30 | 573 | 496,848 | |
Gtd. Notes | 6.875 | 10/16/25 | 250 | 249,906 | |
Gtd. Notes | 7.690 | 01/23/50 | 550 | 410,713 | |
Gtd. Notes, EMTN | 3.750 | 04/16/26 | EUR | 285 | 285,496 |
Gtd. Notes, MTN | 6.750 | 09/21/47 | 870 | 601,387 | |
Gtd. Notes, MTN | 6.875 | 08/04/26 | 355 | 345,449 | |
Sr. Unsec’d. Notes, 144A | 10.000 | 02/07/33 | 675 | 661,162 | |
10,454,239 | |||||
Mongolia 0.1% | |||||
Development Bank of Mongolia LLC, Sr. Unsec’d. Notes | 7.250 | 10/23/23 | 200 | 193,000 |
6
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Panama 0.3% | |||||
Aeropuerto Internacional de Tocumen SA, | |||||
Sr. Sec’d. Notes | 4.000 % | 08/11/41 | 200 | $165,725 | |
Sr. Sec’d. Notes, 144A | 5.125 | 08/11/61 | 400 | 324,450 | |
AES Panama Generation Holdings SRL, Sr. Sec’d. Notes | 4.375 | 05/31/30 | 200 | 178,038 | |
668,213 | |||||
Peru 0.9% | |||||
Banco Internacional del Peru SAA Interbank, Sr. Unsec’d. Notes | 3.250 | 10/04/26 | 350 | 323,417 | |
Corp. Financiera de Desarrollo SA, Sr. Unsec’d. Notes | 2.400 | 09/28/27 | 200 | 171,400 | |
Fondo MIVIVIENDA SA, Sr. Unsec’d. Notes, 144A | 4.625 | 04/12/27 | 150 | 145,200 | |
InRetail Consumer, Sr. Sec’d. Notes | 3.250 | 03/22/28 | 300 | 258,188 | |
Petroleos del Peru SA, | |||||
Sr. Unsec’d. Notes | 4.750 | 06/19/32 | 1,080 | 823,500 | |
Sr. Unsec’d. Notes | 5.625 | 06/19/47 | 200 | 133,900 | |
1,855,605 | |||||
Philippines 0.1% | |||||
Globe Telecom, Inc., Sr. Unsec’d. Notes | 3.000 | 07/23/35 | 200 | 152,413 | |
Qatar 0.4% | |||||
QatarEnergy, | |||||
Sr. Unsec’d. Notes | 3.300 | 07/12/51 | 200 | 151,975 | |
Sr. Unsec’d. Notes, 144A | 3.125 | 07/12/41 | 800 | 632,150 | |
784,125 | |||||
Saudi Arabia 0.6% | |||||
Arabian Centres Sukuk Ltd., Gtd. Notes | 5.375 | 11/26/24 | 200 | 195,350 | |
EIG Pearl Holdings Sarl, Sr. Sec’d. Notes, 144A | 3.545 | 08/31/36 | 650 | 562,250 |
7
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
Saudi Arabia (cont’d.) | |||||
Saudi Arabian Oil Co., | |||||
Sr. Unsec’d. Notes | 2.250 % | 11/24/30 | 260 | $220,109 | |
Sr. Unsec’d. Notes, EMTN | 4.250 | 04/16/39 | 200 | 183,405 | |
1,161,114 | |||||
South Africa 2.3% | |||||
Eskom Holdings SOC Ltd., | |||||
Gov’t. Gtd. Notes, MTN | 6.350 | 08/10/28 | 900 | 860,625 | |
Sr. Unsec’d. Notes | 7.125 | 02/11/25 | 1,390 | 1,326,408 | |
Sr. Unsec’d. Notes, EMTN | 6.750 | 08/06/23 | 600 | 587,775 | |
Sr. Unsec’d. Notes, MTN | 8.450 | 08/10/28 | 860 | 823,450 | |
MTN Mauritius Investments Ltd., Gtd. Notes, 144A | 6.500 | 10/13/26 | 200 | 202,538 | |
Sasol Financing USA LLC, Gtd. Notes | 6.500 | 09/27/28 | 500 | 482,201 | |
Transnet SOC Ltd., Sr. Unsec’d. Notes, 144A | 8.250 | 02/06/28 | 245 | 244,931 | |
4,527,928 | |||||
Thailand 0.1% | |||||
Thaioil Treasury Center Co. Ltd., Gtd. Notes, 144A, MTN | 3.750 | 06/18/50 | 400 | 265,644 | |
Trinidad & Tobago 0.1% | |||||
Heritage Petroleum Co. Ltd., Sr. Sec’d. Notes, 144A | 9.000 | 08/12/29 | 200 | 208,100 | |
Turkey 0.1% | |||||
Aydem Yenilenebilir Enerji A/S, Sr. Sec’d. Notes, 144A | 7.750 | 02/02/27 | 200 | 165,288 | |
Ukraine 0.1% | |||||
NAK Naftogaz Ukraine via Kondor Finance PLC, Sr. Unsec’d. Notes | 7.125 | 07/19/24(d) | EUR | 420 | 91,321 |
State Savings Bank of Ukraine Via SSB #1 PLC, Sr. Unsec’d. Notes | 9.625 | 03/20/25 | 50 | 24,531 | |
115,852 |
8
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Corporate Bonds (Continued) | |||||
United Arab Emirates 2.0% | |||||
Abu Dhabi Crude Oil Pipeline LLC, | |||||
Sr. Sec’d. Notes | 3.650 % | 11/02/29 | 200 | $187,975 | |
Sr. Sec’d. Notes | 4.600 | 11/02/47 | 200 | 189,913 | |
Abu Dhabi National Energy Co. PJSC, Sr. Unsec’d. Notes, 144A | 4.000 | 10/03/49 | 200 | 174,350 | |
Abu Dhabi Ports Co. PJSC, Sr. Unsec’d. Notes, EMTN | 2.500 | 05/06/31 | 200 | 170,100 | |
DAE Funding LLC, Gtd. Notes, EMTN | 3.375 | 03/20/28 | 240 | 216,420 | |
DP World Crescent Ltd., Sr. Unsec’d. Notes, EMTN | 3.875 | 07/18/29 | 660 | 632,692 | |
DP World PLC, Sr. Unsec’d. Notes, EMTN | 6.850 | 07/02/37 | 1,100 | 1,239,081 | |
Galaxy Pipeline Assets Bidco Ltd., | |||||
Sr. Sec’d. Notes | 2.160 | 03/31/34 | 203 | 175,709 | |
Sr. Sec’d. Notes, 144A | 2.940 | 09/30/40 | 773 | 632,594 | |
ICD Funding Ltd., Gtd. Notes | 4.625 | 05/21/24 | 200 | 197,162 | |
MDGH GMTN RSC Ltd., Gtd. Notes, EMTN | 3.700 | 11/07/49 | 240 | 197,820 | |
4,013,816 | |||||
Venezuela 0.0% | |||||
Petroleos de Venezuela SA, | |||||
Gtd. Notes | 5.375 | 04/12/27(d) | 205 | 9,225 | |
Gtd. Notes | 6.000 | 05/16/24(d) | 45 | 2,025 | |
Gtd. Notes | 6.000 | 11/15/26(d) | 65 | 2,925 | |
Sr. Sec’d. Notes | 8.500 | 10/27/20(d) | 205 | 42,025 | |
56,200 | |||||
Vietnam 0.2% | |||||
Mong Duong Finance Holdings BV, Sr. Sec’d. Notes | 5.125 | 05/07/29 | 500 | 444,625 | |
Total Corporate Bonds (cost $54,702,676) | 48,491,043 |
9
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds 70.5% | |||||
Angola 2.3% | |||||
Angolan Government International Bond, | |||||
Sr. Unsec’d. Notes | 8.250 % | 05/09/28 | 1,780 | $1,677,650 | |
Sr. Unsec’d. Notes | 8.750 | 04/14/32 | 500 | 462,500 | |
Sr. Unsec’d. Notes | 9.375 | 05/08/48 | 600 | 534,000 | |
Sr. Unsec’d. Notes | 9.500 | 11/12/25 | 905 | 944,594 | |
Sr. Unsec’d. Notes, 144A | 8.750 | 04/14/32 | 200 | 185,000 | |
Sr. Unsec’d. Notes, EMTN | 8.000 | 11/26/29 | 600 | 556,500 | |
Sr. Unsec’d. Notes, EMTN | 9.125 | 11/26/49 | 200 | 175,000 | |
4,535,244 | |||||
Argentina 1.5% | |||||
Argentine Republic Government International Bond, | |||||
Sr. Unsec’d. Notes | 0.500(cc) | 07/09/30 | 2,010 | 711,578 | |
Sr. Unsec’d. Notes | 1.000 | 07/09/29 | 544 | 185,538 | |
Sr. Unsec’d. Notes | 1.500(cc) | 07/09/35 | 1,052 | 323,970 | |
Sr. Unsec’d. Notes | 1.500(cc) | 07/09/46 | 335 | 103,389 | |
Sr. Unsec’d. Notes | 3.500(cc) | 07/09/41 | 1,297 | 440,394 | |
Sr. Unsec’d. Notes | 3.875(cc) | 01/09/38 | 3,184 | 1,163,820 | |
Provincia de Buenos Aires, Sr. Unsec’d. Notes, 144A, MTN | 5.250(cc) | 09/01/37 | 194 | 76,296 | |
3,004,985 | |||||
Bahrain 1.9% | |||||
Bahrain Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.750 | 09/20/29 | 1,000 | 1,003,750 | |
Sr. Unsec’d. Notes | 7.000 | 10/12/28 | 1,150 | 1,186,153 | |
Sr. Unsec’d. Notes | 7.375 | 05/14/30 | 1,020 | 1,056,975 | |
Sr. Unsec’d. Notes | 7.500 | 09/20/47 | 400 | 370,500 | |
Sr. Unsec’d. Notes, EMTN | 4.250 | 01/25/28 | 200 | 186,225 | |
3,803,603 | |||||
Bermuda 0.3% | |||||
Bermuda Government International Bond, Sr. Unsec’d. Notes | 2.375 | 08/20/30 | 670 | 570,463 | |
Brazil 2.7% | |||||
Brazil Minas SPE via State of Minas Gerais, Gov’t. Gtd. Notes | 5.333 | 02/15/28 | 171 | 167,185 |
10
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Brazil (cont’d.) | |||||
Brazilian Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.875 % | 06/12/30 | 880 | $777,590 | |
Sr. Unsec’d. Notes | 4.500 | 05/30/29 | 550 | 520,197 | |
Sr. Unsec’d. Notes | 5.000 | 01/27/45 | 600 | 469,987 | |
Sr. Unsec’d. Notes | 5.625 | 01/07/41 | 745 | 655,507 | |
Sr. Unsec’d. Notes | 5.625 | 02/21/47 | 300 | 249,338 | |
Sr. Unsec’d. Notes | 7.125 | 01/20/37 | 1,050 | 1,132,556 | |
Sr. Unsec’d. Notes | 8.250 | 01/20/34 | 1,123 | 1,298,679 | |
5,271,039 | |||||
Cameroon 0.2% | |||||
Republic of Cameroon International Bond, Sr. Unsec’d. Notes | 9.500 | 11/19/25 | 400 | 384,575 | |
Chile 0.7% | |||||
Chile Government International Bond, | |||||
Sr. Unsec’d. Notes | 2.550 | 07/27/33 | 370 | 301,041 | |
Sr. Unsec’d. Notes | 2.750 | 01/31/27 | 930 | 869,724 | |
Sr. Unsec’d. Notes | 3.100 | 01/22/61 | 200 | 131,538 | |
1,302,303 | |||||
Colombia 3.2% | |||||
Colombia Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.000 | 01/30/30 | 1,518 | 1,180,245 | |
Sr. Unsec’d. Notes | 3.875 | 04/25/27 | 600 | 543,113 | |
Sr. Unsec’d. Notes | 4.500 | 03/15/29 | 1,060 | 935,317 | |
Sr. Unsec’d. Notes | 5.625 | 02/26/44 | 710 | 538,890 | |
Sr. Unsec’d. Notes | 6.125 | 01/18/41 | 1,260 | 1,038,555 | |
Sr. Unsec’d. Notes | 7.375 | 09/18/37 | 612 | 593,946 | |
Sr. Unsec’d. Notes | 7.500 | 02/02/34 | 610 | 603,595 | |
Sr. Unsec’d. Notes | 8.000 | 04/20/33 | 630 | 646,656 | |
Sr. Unsec’d. Notes | 10.375 | 01/28/33 | 200 | 225,600 | |
6,305,917 | |||||
Congo (Republic) 0.1% | |||||
Congolese International Bond, Sr. Unsec’d. Notes | 6.000 | 06/30/29 | 239 | 197,268 |
11
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Costa Rica 0.7% | |||||
Costa Rica Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.375 % | 04/30/25 | 1,000 | $964,562 | |
Sr. Unsec’d. Notes | 7.000 | 04/04/44 | 400 | 386,950 | |
1,351,512 | |||||
Croatia 0.3% | |||||
Croatia Government International Bond, Sr. Unsec’d. Notes | 1.500 | 06/17/31 | EUR | 575 | 527,555 |
Dominican Republic 3.6% | |||||
Dominican Republic International Bond, | |||||
Sr. Unsec’d. Notes | 4.500 | 01/30/30 | 1,298 | 1,128,286 | |
Sr. Unsec’d. Notes | 4.875 | 09/23/32 | 190 | 161,536 | |
Sr. Unsec’d. Notes | 5.500 | 01/27/25 | 100 | 99,488 | |
Sr. Unsec’d. Notes | 5.500 | 02/22/29 | 306 | 287,219 | |
Sr. Unsec’d. Notes | 5.875 | 01/30/60 | 390 | 299,154 | |
Sr. Unsec’d. Notes | 5.950 | 01/25/27 | 665 | 662,631 | |
Sr. Unsec’d. Notes | 6.000 | 07/19/28 | 150 | 146,981 | |
Sr. Unsec’d. Notes | 6.400 | 06/05/49 | 700 | 596,225 | |
Sr. Unsec’d. Notes | 6.850 | 01/27/45 | 610 | 557,883 | |
Sr. Unsec’d. Notes | 6.875 | 01/29/26 | 500 | 513,844 | |
Sr. Unsec’d. Notes | 7.450 | 04/30/44 | 1,300 | 1,266,119 | |
Sr. Unsec’d. Notes, 144A | 4.875 | 09/23/32 | 150 | 127,528 | |
Sr. Unsec’d. Notes, 144A | 5.300 | 01/21/41 | 150 | 120,122 | |
Sr. Unsec’d. Notes, 144A | 5.500 | 02/22/29 | 800 | 750,900 | |
Sr. Unsec’d. Notes, 144A | 5.875 | 01/30/60 | 225 | 172,589 | |
Sr. Unsec’d. Notes, 144A | 6.000 | 07/19/28 | 170 | 166,579 | |
7,057,084 | |||||
Ecuador 1.4% | |||||
Ecuador Government International Bond, | |||||
Sr. Unsec’d. Notes | 5.500(cc) | 07/31/30 | 327 | 216,709 | |
Sr. Unsec’d. Notes, 144A | 7.187(s) | 07/31/30 | 179 | 75,973 | |
Sr. Unsec’d. Notes, 144A | 1.500(cc) | 07/31/40 | 1,511 | 633,071 | |
Sr. Unsec’d. Notes, 144A | 2.500(cc) | 07/31/35 | 2,065 | 1,002,610 | |
Sr. Unsec’d. Notes, 144A | 5.500(cc) | 07/31/30 | 1,119 | 742,560 | |
2,670,923 |
12
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Egypt 2.9% | |||||
Egypt Government International Bond, | |||||
Sr. Unsec’d. Notes | 7.625 % | 05/29/32 | 510 | $387,855 | |
Sr. Unsec’d. Notes | 7.903 | 02/21/48 | 200 | 133,000 | |
Sr. Unsec’d. Notes | 8.700 | 03/01/49 | 200 | 141,000 | |
Sr. Unsec’d. Notes | 8.875 | 05/29/50 | 400 | 284,500 | |
Sr. Unsec’d. Notes, 144A | 8.700 | 03/01/49 | 410 | 289,050 | |
Sr. Unsec’d. Notes, 144A, MTN | 4.750 | 04/16/26 | EUR | 100 | 90,233 |
Sr. Unsec’d. Notes, 144A, MTN | 6.375 | 04/11/31 | EUR | 420 | 319,622 |
Sr. Unsec’d. Notes, 144A, MTN | 8.500 | 01/31/47 | 255 | 179,775 | |
Sr. Unsec’d. Notes, EMTN | 3.875 | 02/16/26 | 230 | 190,038 | |
Sr. Unsec’d. Notes, EMTN | 4.750 | 04/11/25 | EUR | 400 | 384,851 |
Sr. Unsec’d. Notes, EMTN | 4.750 | 04/16/26 | EUR | 1,000 | 902,334 |
Sr. Unsec’d. Notes, EMTN | 5.625 | 04/16/30 | EUR | 500 | 380,503 |
Sr. Unsec’d. Notes, EMTN | 6.375 | 04/11/31 | EUR | 300 | 228,302 |
Sr. Unsec’d. Notes, EMTN | 7.600 | 03/01/29 | 800 | 664,000 | |
Sr. Unsec’d. Notes, MTN | 5.800 | 09/30/27 | 620 | 514,600 | |
Sr. Unsec’d. Notes, MTN | 7.500 | 01/31/27 | 200 | 180,000 | |
Sr. Unsec’d. Notes, MTN | 8.500 | 01/31/47 | 500 | 352,500 | |
5,622,163 | |||||
El Salvador 0.4% | |||||
El Salvador Government International Bond, | |||||
Sr. Unsec’d. Notes | 5.875 | 01/30/25 | 501 | 360,344 | |
Sr. Unsec’d. Notes | 6.375 | 01/18/27 | 235 | 128,780 | |
Sr. Unsec’d. Notes | 7.625 | 02/01/41 | 150 | 70,434 | |
Sr. Unsec’d. Notes | 7.650 | 06/15/35 | 57 | 27,424 | |
Sr. Unsec’d. Notes | 8.250 | 04/10/32 | 425 | 216,963 | |
803,945 | |||||
Gabon 0.8% | |||||
Gabon Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.625 | 02/06/31 | 600 | 501,300 | |
Sr. Unsec’d. Notes | 6.950 | 06/16/25 | 800 | 774,000 | |
Sr. Unsec’d. Notes | 7.000 | 11/24/31 | 200 | 168,500 | |
Sr. Unsec’d. Notes, 144A | 6.625 | 02/06/31 | 215 | 179,632 | |
1,623,432 | |||||
Ghana 0.6% | |||||
Ghana Government International Bond, | |||||
Bank Gtd. Notes | 10.750 | 10/14/30 | 400 | 279,000 |
13
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Ghana (cont’d.) | |||||
Ghana Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 6.375 % | 02/11/27(d) | 250 | $92,500 | |
Sr. Unsec’d. Notes | 7.625 | 05/16/29(d) | 400 | 148,000 | |
Sr. Unsec’d. Notes | 7.750 | 04/07/29(d) | 400 | 148,000 | |
Sr. Unsec’d. Notes(a) | 7.875 | 03/26/27(d) | 550 | 209,000 | |
Sr. Unsec’d. Notes | 7.875 | 02/11/35(d) | 200 | 73,500 | |
Sr. Unsec’d. Notes | 8.125 | 01/18/26(d) | 200 | 79,000 | |
Sr. Unsec’d. Notes, 144A | 8.950 | 03/26/51(d) | 205 | 74,313 | |
1,103,313 | |||||
Guatemala 0.8% | |||||
Guatemala Government Bond, | |||||
Sr. Unsec’d. Notes | 4.875 | 02/13/28 | 600 | 579,862 | |
Sr. Unsec’d. Notes | 6.125 | 06/01/50 | 850 | 825,722 | |
Sr. Unsec’d. Notes, 144A | 4.650 | 10/07/41 | 200 | 166,225 | |
1,571,809 | |||||
Honduras 0.2% | |||||
Honduras Government International Bond, Sr. Unsec’d. Notes | 6.250 | 01/19/27 | 400 | 353,325 | |
Hungary 1.9% | |||||
Hungary Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.750 | 06/05/35 | EUR | 815 | 630,076 |
Sr. Unsec’d. Notes | 7.625 | 03/29/41 | 210 | 237,037 | |
Sr. Unsec’d. Notes, 144A | 3.125 | 09/21/51 | 255 | 161,288 | |
Sr. Unsec’d. Notes, 144A | 5.250 | 06/16/29 | 740 | 731,675 | |
Sr. Unsec’d. Notes, 144A | 6.125 | 05/22/28 | 500 | 517,750 | |
Sr. Unsec’d. Notes, 144A | 6.250 | 09/22/32 | 965 | 999,981 | |
Sr. Unsec’d. Notes, 144A | 6.750 | 09/25/52 | 420 | 443,625 | |
3,721,432 | |||||
India 0.4% | |||||
Export-Import Bank of India, | |||||
Sr. Unsec’d. Notes | 3.875 | 02/01/28 | 200 | 189,156 | |
Sr. Unsec’d. Notes, 144A, MTN | 3.250 | 01/15/30 | 400 | 354,575 | |
Sr. Unsec’d. Notes, EMTN | 2.250 | 01/13/31 | 200 | 162,098 | |
705,829 |
14
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Indonesia 3.4% | |||||
Indonesia Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.100 % | 03/12/33 | EUR | 440 | $355,822 |
Sr. Unsec’d. Notes | 1.400 | 10/30/31 | EUR | 100 | 85,769 |
Sr. Unsec’d. Notes | 1.450 | 09/18/26 | EUR | 100 | 99,970 |
Sr. Unsec’d. Notes | 3.550 | 03/31/32 | 200 | 184,272 | |
Sr. Unsec’d. Notes | 4.200 | 10/15/50 | 490 | 421,454 | |
Sr. Unsec’d. Notes | 4.300 | 03/31/52 | 400 | 351,044 | |
Sr. Unsec’d. Notes | 4.650 | 09/20/32 | 590 | 589,327 | |
Sr. Unsec’d. Notes | 5.450 | 09/20/52 | 400 | 410,044 | |
Sr. Unsec’d. Notes | 6.625 | 02/17/37 | 150 | 172,892 | |
Sr. Unsec’d. Notes | 7.750 | 01/17/38 | 690 | 856,808 | |
Sr. Unsec’d. Notes | 8.500 | 10/12/35 | 400 | 520,200 | |
Sr. Unsec’d. Notes, 144A | 6.625 | 02/17/37 | 110 | 126,787 | |
Sr. Unsec’d. Notes, EMTN | 3.750 | 06/14/28 | EUR | 470 | 501,636 |
Sr. Unsec’d. Notes, EMTN | 4.625 | 04/15/43 | 200 | 188,772 | |
Sr. Unsec’d. Notes, EMTN | 4.750 | 07/18/47 | 230 | 219,100 | |
Sr. Unsec’d. Notes, EMTN | 5.125 | 01/15/45 | 200 | 199,272 | |
Sr. Unsec’d. Notes, EMTN | 5.250 | 01/17/42 | 400 | 404,825 | |
Sr. Unsec’d. Notes, EMTN | 6.750 | 01/15/44 | 100 | 116,636 | |
Perusahaan Penerbit SBSN Indonesia III, | |||||
Sr. Unsec’d. Notes | 4.700 | 06/06/32 | 600 | 600,066 | |
Sr. Unsec’d. Notes, 144A | 4.700 | 06/06/32 | 205 | 205,023 | |
6,609,719 | |||||
Iraq 1.0% | |||||
Iraq International Bond, | |||||
Sr. Unsec’d. Notes | 5.800 | 01/15/28 | 1,238 | 1,143,759 | |
Sr. Unsec’d. Notes | 6.752 | 03/09/23 | 800 | 792,900 | |
1,936,659 | |||||
Israel 0.2% | |||||
Israel Government International Bond, Sr. Unsec’d. Notes | 4.500 | 04/03/2120 | 520 | 445,250 | |
Ivory Coast 1.1% | |||||
Ivory Coast Government International Bond, | |||||
Sr. Unsec’d. Notes | 5.250 | 03/22/30 | EUR | 830 | 761,345 |
Sr. Unsec’d. Notes | 5.750 | 12/31/32 | 90 | 81,864 | |
Sr. Unsec’d. Notes | 5.875 | 10/17/31 | EUR | 800 | 728,390 |
15
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Ivory Coast (cont’d.) | |||||
Ivory Coast Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 6.375 % | 03/03/28 | 400 | $387,000 | |
Sr. Unsec’d. Notes | 6.875 | 10/17/40 | EUR | 370 | 307,718 |
2,266,317 | |||||
Jamaica 0.8% | |||||
Jamaica Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.750 | 04/28/28 | 500 | 531,812 | |
Sr. Unsec’d. Notes | 7.625 | 07/09/25 | 225 | 230,527 | |
Sr. Unsec’d. Notes | 7.875 | 07/28/45 | 400 | 465,500 | |
Sr. Unsec’d. Notes | 8.000 | 03/15/39 | 100 | 119,550 | |
Sr. Unsec’d. Notes | 9.250 | 10/17/25 | 200 | 212,725 | |
1,560,114 | |||||
Jordan 0.7% | |||||
Jordan Government International Bond, | |||||
Sr. Unsec’d. Notes | 5.750 | 01/31/27 | 200 | 195,350 | |
Sr. Unsec’d. Notes | 5.850 | 07/07/30 | 200 | 183,500 | |
Sr. Unsec’d. Notes | 6.125 | 01/29/26 | 200 | 198,537 | |
Sr. Unsec’d. Notes | 7.375 | 10/10/47 | 200 | 179,975 | |
Sr. Unsec’d. Notes | 7.750 | 01/15/28 | 350 | 360,500 | |
Sr. Unsec’d. Notes, 144A | 7.750 | 01/15/28 | 220 | 226,600 | |
1,344,462 | |||||
Kazakhstan 0.2% | |||||
Kazakhstan Government International Bond, Sr. Unsec’d. Notes, EMTN | 6.500 | 07/21/45 | 400 | 423,400 | |
Kenya 0.1% | |||||
Republic of Kenya Government International Bond, Sr. Unsec’d. Notes | 7.000 | 05/22/27 | 200 | 180,000 | |
Lebanon 0.1% | |||||
Lebanon Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.000 | 01/27/23(d) | 191 | 12,272 | |
Sr. Unsec’d. Notes | 6.650 | 04/22/24(d) | 172 | 11,051 | |
Sr. Unsec’d. Notes | 6.750 | 11/29/27(d) | 170 | 10,625 | |
Sr. Unsec’d. Notes | 6.850 | 03/23/27(d) | 30 | 1,875 | |
Sr. Unsec’d. Notes | 7.000 | 04/22/31(d) | 115 | 7,389 | |
Sr. Unsec’d. Notes, EMTN | 6.100 | 10/04/22(d) | 75 | 4,687 |
16
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Lebanon (cont’d.) | |||||
Lebanon Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes, EMTN | 6.850 % | 05/25/29(d) | 335 | $21,210 | |
Sr. Unsec’d. Notes, GMTN | 6.250 | 05/27/22(d) | 245 | 15,741 | |
Sr. Unsec’d. Notes, GMTN | 6.250 | 11/04/24(d) | 320 | 20,560 | |
Sr. Unsec’d. Notes, GMTN | 6.375 | 03/09/20(d) | 220 | 14,135 | |
Sr. Unsec’d. Notes, GMTN | 6.400 | 05/26/23(d) | 250 | 16,085 | |
Sr. Unsec’d. Notes, GMTN | 6.650 | 02/26/30(d) | 715 | 44,687 | |
Sr. Unsec’d. Notes, GMTN | 7.150 | 11/20/31(d) | 415 | 26,859 | |
207,176 | |||||
Malaysia 1.6% | |||||
1MDB Global Investments Ltd., Sr. Unsec’d. Notes | 4.400 | 03/09/23 | 3,300 | 3,236,681 | |
Mexico 2.1% | |||||
Mexico Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.250 | 04/16/30 | 270 | 242,882 | |
Sr. Unsec’d. Notes | 3.500 | 02/12/34 | 600 | 504,600 | |
Sr. Unsec’d. Notes | 3.750 | 01/11/28 | 320 | 306,720 | |
Sr. Unsec’d. Notes | 4.600 | 02/10/48 | 300 | 246,000 | |
Sr. Unsec’d. Notes | 4.875 | 05/19/33 | 530 | 508,800 | |
Sr. Unsec’d. Notes | 6.350 | 02/09/35 | 250 | 265,375 | |
Sr. Unsec’d. Notes, GMTN | 5.750 | 10/12/2110 | 358 | 320,477 | |
Sr. Unsec’d. Notes, MTN | 4.750 | 03/08/44 | 140 | 120,225 | |
Sr. Unsec’d. Notes, MTN | 6.050 | 01/11/40 | 1,168 | 1,189,900 | |
Sr. Unsec’d. Notes, Series A, MTN | 6.750 | 09/27/34 | 203 | 220,991 | |
Sr. Unsec’d. Notes, Series A, MTN | 7.500 | 04/08/33 | 130 | 147,810 | |
4,073,780 | |||||
Mongolia 0.2% | |||||
Mongolia Government International Bond, Sr. Unsec’d. Notes, EMTN | 8.750 | 03/09/24 | 400 | 400,950 | |
Morocco 0.7% | |||||
Morocco Government International Bond, | |||||
Sr. Unsec’d. Notes | 1.500 | 11/27/31 | EUR | 100 | 80,993 |
Sr. Unsec’d. Notes | 2.000 | 09/30/30 | EUR | 500 | 442,334 |
Sr. Unsec’d. Notes | 2.375 | 12/15/27 | 400 | 352,832 | |
Sr. Unsec’d. Notes | 4.000 | 12/15/50 | 200 | 136,500 |
17
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Morocco (cont’d.) | |||||
Morocco Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 5.500 % | 12/11/42 | 200 | $172,500 | |
Sr. Unsec’d. Notes, 144A | 3.000 | 12/15/32 | 200 | 159,750 | |
1,344,909 | |||||
Mozambique 0.4% | |||||
Mozambique International Bond, | |||||
Unsec’d. Notes | 5.000(cc) | 09/15/31 | 840 | 668,220 | |
Unsec’d. Notes, 144A | 5.000(cc) | 09/15/31 | 200 | 159,100 | |
827,320 | |||||
Namibia 0.1% | |||||
Namibia International Bonds, Sr. Unsec’d. Notes | 5.250 | 10/29/25 | 200 | 188,850 | |
Nigeria 1.3% | |||||
Nigeria Government International Bond, | |||||
Sr. Unsec’d. Notes | 7.143 | 02/23/30 | 200 | 152,000 | |
Sr. Unsec’d. Notes | 7.625 | 11/21/25 | 250 | 228,125 | |
Sr. Unsec’d. Notes | 7.696 | 02/23/38 | 200 | 137,725 | |
Sr. Unsec’d. Notes | 7.875 | 02/16/32 | 400 | 302,000 | |
Sr. Unsec’d. Notes | 8.747 | 01/21/31 | 600 | 486,750 | |
Sr. Unsec’d. Notes | 9.248 | 01/21/49 | 200 | 151,500 | |
Sr. Unsec’d. Notes, 144A | 7.696 | 02/23/38 | 200 | 137,725 | |
Sr. Unsec’d. Notes, 144A, MTN | 6.125 | 09/28/28 | 200 | 155,000 | |
Sr. Unsec’d. Notes, 144A, MTN | 7.375 | 09/28/33 | 200 | 142,750 | |
Sr. Unsec’d. Notes, 144A, MTN | 8.375 | 03/24/29 | 200 | 166,500 | |
Sr. Unsec’d. Notes, EMTN | 6.125 | 09/28/28 | 200 | 155,000 | |
Sr. Unsec’d. Notes, EMTN | 6.500 | 11/28/27 | 500 | 410,000 | |
2,625,075 | |||||
Oman 3.2% | |||||
Oman Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.750 | 06/15/26 | 760 | 742,567 | |
Sr. Unsec’d. Notes | 5.375 | 03/08/27 | 780 | 777,465 | |
Sr. Unsec’d. Notes | 5.625 | 01/17/28 | 1,280 | 1,285,440 | |
Sr. Unsec’d. Notes | 6.250 | 01/25/31 | 200 | 206,725 | |
Sr. Unsec’d. Notes | 6.500 | 03/08/47 | 625 | 596,094 | |
Sr. Unsec’d. Notes | 6.750 | 10/28/27 | 600 | 634,612 | |
Sr. Unsec’d. Notes | 6.750 | 01/17/48 | 420 | 412,125 |
18
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Oman (cont’d.) | |||||
Oman Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 7.000 % | 01/25/51 | 200 | $202,250 | |
Sr. Unsec’d. Notes | 7.375 | 10/28/32 | 260 | 289,624 | |
Sr. Unsec’d. Notes, 144A | 6.750 | 01/17/48 | 200 | 196,250 | |
Sr. Unsec’d. Notes, 144A, MTN | 4.875 | 02/01/25 | 200 | 197,600 | |
Sr. Unsec’d. Notes, EMTN | 6.000 | 08/01/29 | 800 | 816,900 | |
6,357,652 | |||||
Pakistan 0.8% | |||||
Pakistan Government International Bond, | |||||
Sr. Unsec’d. Notes | 6.875 | 12/05/27 | 1,040 | 431,714 | |
Sr. Unsec’d. Notes | 8.250 | 04/15/24 | 700 | 393,827 | |
Sr. Unsec’d. Notes | 8.250 | 09/30/25 | 770 | 392,785 | |
Sr. Unsec’d. Notes, 144A, MTN | 7.375 | 04/08/31 | 200 | 82,022 | |
Sr. Unsec’d. Notes, EMTN | 7.375 | 04/08/31 | 650 | 266,572 | |
1,566,920 | |||||
Panama 1.5% | |||||
Panama Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.160 | 01/23/30 | 200 | 175,538 | |
Sr. Unsec’d. Notes | 3.298 | 01/19/33 | 200 | 166,850 | |
Sr. Unsec’d. Notes | 3.870 | 07/23/60 | 200 | 133,350 | |
Sr. Unsec’d. Notes | 4.300 | 04/29/53 | 375 | 282,609 | |
Sr. Unsec’d. Notes | 4.500 | 04/16/50 | 650 | 507,935 | |
Sr. Unsec’d. Notes | 4.500 | 04/01/56 | 400 | 303,325 | |
Sr. Unsec’d. Notes | 6.700 | 01/26/36 | 1,035 | 1,117,347 | |
Sr. Unsec’d. Notes | 9.375 | 04/01/29 | 165 | 198,804 | |
2,885,758 | |||||
Papua New Guinea 0.2% | |||||
Papua New Guinea Government International Bond, | |||||
Sr. Unsec’d. Notes | 8.375 | 10/04/28 | 220 | 202,033 | |
Sr. Unsec’d. Notes, 144A | 8.375 | 10/04/28 | 200 | 180,475 | |
382,508 | |||||
Paraguay 0.5% | |||||
Paraguay Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.700 | 03/27/27 | 200 | 197,250 |
19
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Paraguay (cont’d.) | |||||
Paraguay Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 4.950 % | 04/28/31 | 200 | $193,725 | |
Sr. Unsec’d. Notes | 6.100 | 08/11/44 | 700 | 692,038 | |
1,083,013 | |||||
Peru 1.8% | |||||
Peruvian Government International Bond, | |||||
Sr. Unsec’d. Notes | 2.780 | 12/01/60 | 490 | 295,470 | |
Sr. Unsec’d. Notes | 2.783 | 01/23/31 | 940 | 793,889 | |
Sr. Unsec’d. Notes | 3.000 | 01/15/34 | 765 | 619,793 | |
Sr. Unsec’d. Notes | 3.230 | 07/28/2121 | 110 | 66,055 | |
Sr. Unsec’d. Notes | 3.600 | 01/15/72 | 70 | 46,935 | |
Sr. Unsec’d. Notes | 5.625 | 11/18/50 | 582 | 589,020 | |
Sr. Unsec’d. Notes | 6.550 | 03/14/37 | 225 | 243,534 | |
Sr. Unsec’d. Notes | 8.750 | 11/21/33 | 670 | 831,973 | |
3,486,669 | |||||
Philippines 1.8% | |||||
Philippine Government International Bond, | |||||
Sr. Unsec’d. Notes | 0.700 | 02/03/29 | EUR | 300 | 272,494 |
Sr. Unsec’d. Notes | 1.750 | 04/28/41 | EUR | 165 | 119,714 |
Sr. Unsec’d. Notes | 2.650 | 12/10/45 | 200 | 139,272 | |
Sr. Unsec’d. Notes | 2.950 | 05/05/45 | 200 | 146,772 | |
Sr. Unsec’d. Notes | 3.200 | 07/06/46 | 200 | 150,596 | |
Sr. Unsec’d. Notes | 3.556 | 09/29/32 | 530 | 487,658 | |
Sr. Unsec’d. Notes | 3.700 | 03/01/41 | 880 | 735,997 | |
Sr. Unsec’d. Notes | 3.950 | 01/20/40 | 450 | 393,800 | |
Sr. Unsec’d. Notes | 4.200 | 03/29/47 | 200 | 175,350 | |
Sr. Unsec’d. Notes | 5.609 | 04/13/33 | 200 | 213,272 | |
Sr. Unsec’d. Notes | 6.375 | 10/23/34 | 200 | 226,522 | |
Sr. Unsec’d. Notes | 7.750 | 01/14/31 | 420 | 502,996 | |
3,564,443 | |||||
Poland 0.1% | |||||
Republic of Poland Government International Bond, Sr. Unsec’d. Notes | 5.750 | 11/16/32 | 230 | 247,248 |
20
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Qatar 2.8% | |||||
Qatar Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.000 % | 03/14/29 | 1,350 | $1,343,082 | |
Sr. Unsec’d. Notes | 4.625 | 06/02/46 | 330 | 322,946 | |
Sr. Unsec’d. Notes | 4.817 | 03/14/49 | 200 | 199,000 | |
Sr. Unsec’d. Notes | 5.103 | 04/23/48 | 2,000 | 2,060,000 | |
Sr. Unsec’d. Notes | 6.400 | 01/20/40 | 100 | 119,456 | |
Sr. Unsec’d. Notes, 144A | 4.817 | 03/14/49 | 1,340 | 1,333,300 | |
Sr. Unsec’d. Notes, 144A | 5.103 | 04/23/48 | 200 | 206,000 | |
5,583,784 | |||||
Romania 2.4% | |||||
Romanian Government International Bond, | |||||
Sr. Unsec’d. Notes, 144A | 6.625 | 02/17/28 | 1,158 | 1,199,977 | |
Sr. Unsec’d. Notes, 144A | 7.125 | 01/17/33 | 578 | 612,680 | |
Sr. Unsec’d. Notes, 144A | 7.625 | 01/17/53 | 808 | 877,438 | |
Sr. Unsec’d. Notes, EMTN | 2.125 | 03/07/28 | EUR | 260 | 240,931 |
Sr. Unsec’d. Notes, EMTN | 3.875 | 10/29/35 | EUR | 440 | 371,316 |
Sr. Unsec’d. Notes, EMTN | 4.125 | 03/11/39 | EUR | 410 | 334,299 |
Sr. Unsec’d. Notes, EMTN | 4.625 | 04/03/49 | EUR | 230 | 186,283 |
Unsec’d. Notes, 144A, MTN | 6.000 | 05/25/34 | 902 | 889,598 | |
Unsec’d. Notes, EMTN | 6.000 | 05/25/34 | 80 | 78,900 | |
4,791,422 | |||||
Russia 0.0% | |||||
Russian Foreign Bond - Eurobond, | |||||
Sr. Unsec’d. Notes | 1.850 | 11/20/32(d) | EUR | 300 | 42,399 |
Sr. Unsec’d. Notes | 5.100 | 03/28/35(d) | 400 | 68,000 | |
110,399 | |||||
Saudi Arabia 2.8% | |||||
Saudi Government International Bond, | |||||
Sr. Unsec’d. Notes, 144A | 5.250 | 01/16/50 | 400 | 397,500 | |
Sr. Unsec’d. Notes, 144A, MTN | 5.000 | 01/18/53 | 200 | 190,500 | |
Sr. Unsec’d. Notes, EMTN | 2.250 | 02/02/33 | �� | 200 | 163,350 |
Sr. Unsec’d. Notes, EMTN | 4.500 | 10/26/46 | 3,120 | 2,791,034 | |
Sr. Unsec’d. Notes, EMTN | 4.625 | 10/04/47 | 1,470 | 1,334,760 | |
Sr. Unsec’d. Notes, EMTN | 5.000 | 04/17/49 | 600 | 573,112 | |
5,450,256 |
21
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Senegal 0.4% | |||||
Senegal Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.750 % | 03/13/28 | EUR | 600 | $574,015 |
Sr. Unsec’d. Notes | 5.375 | 06/08/37 | EUR | 200 | 152,201 |
Sr. Unsec’d. Notes, 144A | 5.375 | 06/08/37 | EUR | 150 | 114,151 |
840,367 | |||||
Serbia 1.6% | |||||
Serbia International Bond, | |||||
Sr. Unsec’d. Notes | 1.500 | 06/26/29 | EUR | 900 | 737,985 |
Sr. Unsec’d. Notes, 144A | 1.650 | 03/03/33 | EUR | 225 | 160,570 |
Sr. Unsec’d. Notes, 144A | 2.125 | 12/01/30 | 230 | 174,771 | |
Sr. Unsec’d. Notes, 144A | 3.125 | 05/15/27 | EUR | 1,100 | 1,066,039 |
Sr. Unsec’d. Notes, 144A | 6.250 | 05/26/28 | 600 | 610,500 | |
Sr. Unsec’d. Notes, 144A | 6.500 | 09/26/33 | 430 | 433,225 | |
3,183,090 | |||||
South Africa 2.0% | |||||
Republic of South Africa Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.300 | 10/12/28 | 200 | 182,250 | |
Sr. Unsec’d. Notes | 4.850 | 09/27/27 | 260 | 249,925 | |
Sr. Unsec’d. Notes | 4.850 | 09/30/29 | 800 | 728,000 | |
Sr. Unsec’d. Notes | 5.650 | 09/27/47 | 540 | 413,100 | |
Sr. Unsec’d. Notes | 5.750 | 09/30/49 | 850 | 646,000 | |
Sr. Unsec’d. Notes | 5.875 | 06/22/30 | 340 | 323,850 | |
Sr. Unsec’d. Notes | 5.875 | 04/20/32 | 600 | 555,750 | |
Sr. Unsec’d. Notes | 7.300 | 04/20/52 | 850 | 765,000 | |
3,863,875 | |||||
Sri Lanka 0.5% | |||||
Sri Lanka Government International Bond, | |||||
Sr. Unsec’d. Notes | 5.750 | 04/18/23(d) | 200 | 68,100 | |
Sr. Unsec’d. Notes | 6.200 | 05/11/27(d) | 400 | 134,325 | |
Sr. Unsec’d. Notes | 6.350 | 06/28/24(d) | 200 | 67,850 | |
Sr. Unsec’d. Notes | 6.825 | 07/18/26(d) | 1,150 | 395,887 | |
Sr. Unsec’d. Notes | 6.850 | 11/03/25(d) | 350 | 120,597 | |
Sr. Unsec’d. Notes | 7.850 | 03/14/29(d) | 250 | 83,153 |
22
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Sri Lanka (cont’d.) | |||||
Sri Lanka Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes, 144A | 6.750 % | 04/18/28(d) | 200 | $66,522 | |
Sr. Unsec’d. Notes, 144A | 6.850 | 03/14/24(d) | 265 | 89,984 | |
1,026,418 | |||||
Turkey 2.9% | |||||
Turkey Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.250 | 03/13/25 | 400 | 372,000 | |
Sr. Unsec’d. Notes | 4.250 | 04/14/26 | 400 | 353,000 | |
Sr. Unsec’d. Notes | 4.750 | 01/26/26 | 495 | 446,737 | |
Sr. Unsec’d. Notes | 4.875 | 10/09/26 | 1,020 | 900,150 | |
Sr. Unsec’d. Notes | 5.250 | 03/13/30 | 610 | 487,237 | |
Sr. Unsec’d. Notes | 5.750 | 05/11/47 | 200 | 133,500 | |
Sr. Unsec’d. Notes | 5.950 | 01/15/31 | 200 | 164,500 | |
Sr. Unsec’d. Notes | 6.000 | 03/25/27 | 800 | 726,000 | |
Sr. Unsec’d. Notes | 6.000 | 01/14/41 | 200 | 143,250 | |
Sr. Unsec’d. Notes | 6.125 | 10/24/28 | 420 | 370,125 | |
Sr. Unsec’d. Notes | 6.350 | 08/10/24 | 400 | 391,950 | |
Sr. Unsec’d. Notes | 6.375 | 10/14/25 | 200 | 190,500 | |
Sr. Unsec’d. Notes | 6.500 | 09/20/33 | 200 | 163,500 | |
Sr. Unsec’d. Notes | 6.875 | 03/17/36 | 304 | 249,660 | |
Sr. Unsec’d. Notes | 7.375 | 02/05/25 | 165 | 163,763 | |
Sr. Unsec’d. Notes | 7.625 | 04/26/29 | 280 | 261,800 | |
Turkiye Ihracat Kredi Bankasi A/S, Sr. Unsec’d. Notes | 8.250 | 01/24/24 | 200 | 200,225 | |
5,717,897 | |||||
Ukraine 0.8% | |||||
Ukraine Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.375 | 01/27/32(d) | EUR | 410 | 82,460 |
Sr. Unsec’d. Notes | 6.750 | 06/20/28(d) | EUR | 580 | 118,543 |
Sr. Unsec’d. Notes | 7.375 | 09/25/34(d) | 200 | 39,500 | |
Sr. Unsec’d. Notes | 7.750 | 09/01/25(d) | 300 | 68,494 | |
Sr. Unsec’d. Notes | 7.750 | 09/01/26(d) | 2,030 | 436,196 | |
Sr. Unsec’d. Notes | 7.750 | 09/01/27(d) | 640 | 136,520 | |
Sr. Unsec’d. Notes | 7.750 | 09/01/28(d) | 600 | 130,200 | |
Sr. Unsec’d. Notes | 7.750 | 09/01/29(d) | 520 | 114,335 | |
Sr. Unsec’d. Notes | 8.994 | 02/01/26(d) | 200 | 45,038 | |
Sr. Unsec’d. Notes | 9.750 | 11/01/30(d) | 1,375 | 298,461 | |
Sr. Unsec’d. Notes, 144A | 4.375 | 01/27/32(d) | EUR | 100 | 20,112 |
23
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Ukraine (cont’d.) | |||||
Ukreximbank Via Biz Finance PLC, Sr. Unsec’d. Notes | 9.750 % | 01/22/25 | 50 | $16,259 | |
1,506,118 | |||||
United Arab Emirates 1.4% | |||||
Abu Dhabi Government International Bond, | |||||
Sr. Unsec’d. Notes | 3.125 | 09/30/49 | 600 | 452,250 | |
Sr. Unsec’d. Notes, 144A | 3.125 | 09/30/49 | 500 | 376,875 | |
Sr. Unsec’d. Notes, 144A, MTN | 3.875 | 04/16/50 | 200 | 171,500 | |
Emirate of Dubai Government International Bonds, Sr. Unsec’d. Notes, EMTN | 5.250 | 01/30/43 | 1,400 | 1,343,387 | |
Finance Department Government of Sharjah, | |||||
Sr. Unsec’d. Notes, 144A, MTN | 4.000 | 07/28/50 | 400 | 261,825 | |
Sr. Unsec’d. Notes, MTN | 4.000 | 07/28/50 | 200 | 130,913 | |
2,736,750 | |||||
Uruguay 1.6% | |||||
Uruguay Government International Bond, | |||||
Sr. Unsec’d. Notes | 4.125 | 11/20/45 | 120 | 112,620 | |
Sr. Unsec’d. Notes | 4.975 | 04/20/55 | 580 | 573,910 | |
Sr. Unsec’d. Notes | 5.100 | 06/18/50 | 1,084 | 1,094,298 | |
Sr. Unsec’d. Notes | 5.750 | 10/28/34 | 150 | 166,275 | |
Sr. Unsec’d. Notes | 7.625 | 03/21/36 | 510 | 652,545 | |
Sr. Unsec’d. Notes | 7.875 | 01/15/33 | 435 | 547,230 | |
3,146,878 | |||||
Venezuela 0.0% | |||||
Venezuela Government International Bond, Sr. Unsec’d. Notes | 12.750 | 08/23/22(d) | 180 | 14,400 | |
Zambia 0.5% | |||||
Zambia Government International Bond, | |||||
Sr. Unsec’d. Notes | 8.500 | 04/14/24(d) | 1,010 | 508,788 |
24
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
Sovereign Bonds (Continued) | |||||
Zambia (cont’d.) | |||||
Zambia Government International Bond, (cont’d.) | |||||
Sr. Unsec’d. Notes | 8.970 % | 07/30/27(d) | 600 | $300,000 | |
Unsec’d. Notes | 5.375 | 09/20/22(d) | 400 | 181,575 | |
990,363 | |||||
Total Sovereign Bonds (cost $162,623,464) | 138,694,609 | ||||
U.S. Treasury Obligation(h) 0.1% | |||||
U.S. Treasury Notes (cost $265,340) | 4.250 | 09/30/24 | 265 | 264,410 | |
Total Long-Term Investments (cost $217,591,480) | 187,450,062 |
Shares | |||||
Short-Term Investments 2.4% | |||||
Affiliated Mutual Fund 0.4% | |||||
PGIM Institutional Money Market Fund (cost $834,602; includes $830,211 of cash collateral for securities on loan)(b)(we) | 835,357 | 835,190 | |||
Unaffiliated Fund 2.0% | |||||
Dreyfus Government Cash Management (Institutional Shares) (cost $3,880,094) | 3,880,094 | 3,880,094 | |||
Options Purchased*~ 0.0% | |||||
(cost $81,533) | 32,813 | ||||
Total Short-Term Investments (cost $4,796,229) | 4,748,097 | ||||
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 97.6% (cost $222,387,709) | 192,198,159 | ||||
Options Written*~ (0.1)% | |||||
(premiums received $175,161) | (219,696) | ||||
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 97.5% (cost $222,212,548) | 191,978,463 | ||||
Other assets in excess of liabilities(z) 2.5% | 4,853,537 | ||||
Net Assets 100.0% | $196,832,000 |
25
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
AUD—Australian Dollar | |
BRL—Brazilian Real | |
CAD—Canadian Dollar | |
CLP—Chilean Peso | |
CNH—Chinese Renminbi | |
COP—Colombian Peso | |
CZK—Czech Koruna | |
EUR—Euro | |
GBP—British Pound | |
HUF—Hungarian Forint | |
IDR—Indonesian Rupiah | |
ILS—Israeli Shekel | |
INR—Indian Rupee | |
JPY—Japanese Yen | |
KRW—South Korean Won | |
MXN—Mexican Peso | |
MYR—Malaysian Ringgit | |
NZD—New Zealand Dollar | |
PEN—Peruvian Nuevo Sol | |
PHP—Philippine Peso | |
PLN—Polish Zloty | |
SGD—Singapore Dollar | |
THB—Thai Baht | |
TWD—New Taiwanese Dollar | |
USD—US Dollar | |
ZAR—South African Rand |
144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. | |
A—Annual payment frequency for swaps | |
BARC—Barclays Bank PLC | |
BNP—BNP Paribas S.A. | |
BOA—Bank of America, N.A. | |
BROIS—Brazil Overnight Index Swap | |
CDX—Credit Derivative Index | |
CITI—Citibank, N.A. | |
CLOIS—Sinacofi Chile Interbank Rate Average | |
COOIS—Colombia Overnight Interbank Reference Rate | |
EMTN—Euro Medium Term Note | |
GMTN—Global Medium Term Note | |
GSI—Goldman Sachs International | |
HSBC—HSBC Bank PLC | |
JIBAR—Johannesburg Interbank Agreed Rate | |
JPM—JPMorgan Chase Bank N.A. | |
KLIBOR—Kuala Lumpur Interbank Offered Rate | |
KWCDC—Korean Won Certificate of Deposit | |
M—Monthly payment frequency for swaps | |
MSI—Morgan Stanley & Co International PLC | |
MTN—Medium Term Note | |
OTC—Over-the-counter | |
PIK—Payment-in-Kind |
26
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
PJSC—Public Joint-Stock Company | |
PRIBOR—Prague Interbank Offered Rate | |
Q—Quarterly payment frequency for swaps | |
S—Semiannual payment frequency for swaps | |
SCB—Standard Chartered Bank | |
T—Swap payment upon termination | |
TD—The Toronto-Dominion Bank | |
UAG—UBS AG | |
WIBOR—Warsaw Interbank Offered Rate |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
~ | See tables subsequent to the Schedule of Investments for options detail. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $718,292; cash collateral of $830,211 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
(b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(f) | Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $183,499. The aggregate value of $129,349 is 0.1% of net assets. |
(h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(we) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Institutional Money Market Fund. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Options Purchased:
OTC Traded | ||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | |||||||||
Currency Option AUD vs USD | Call | JPM | 02/09/23 | 0.75 | — | AUD | 1,647 | $64 | ||||||||
Currency Option EUR vs HUF | Call | MSI | 02/09/23 | 500.00 | — | EUR | 799 | 1 | ||||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 6.25 | — | 401 | — | |||||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 6.60 | — | 403 | — | |||||||||
Currency Option USD vs CLP | Call | JPM | 02/07/23 | 1,100.00 | — | 401 | — | |||||||||
Currency Option USD vs COP | Call | MSI | 02/07/23 | 6,200.00 | — | 801 | — |
27
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
OTC Traded | |||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | ||||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 21.30 | — | 799 | $1 | ||||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 22.00 | — | 805 | — | ||||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 22.00 | — | 801 | — | ||||||||||
Currency Option USD vs MXN | Call | MSI | 02/16/23 | 22.50 | — | 805 | 7 | ||||||||||
Currency Option USD vs MXN | Call | MSI | 06/02/23 | 20.25 | — | 2,501 | 26,857 | ||||||||||
Currency Option USD vs ZAR | Call | MSI | 02/07/23 | 20.00 | — | 801 | 5 | ||||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 20.00 | — | 801 | 12 | ||||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 20.30 | — | 399 | 3 | ||||||||||
Currency Option EUR vs HUF | Put | BOA | 02/09/23 | 368.00 | — | EUR | 549 | 18 | |||||||||
Currency Option USD vs BRL | Put | JPM | 02/15/23 | 4.30 | — | 804 | 1 | ||||||||||
Currency Option USD vs CLP | Put | CITI | 02/07/23 | 700.00 | — | 799 | — | ||||||||||
Currency Option USD vs CNH | Put | MSI | 02/21/23 | 6.50 | — | 705 | 80 | ||||||||||
Currency Option USD vs JPY | Put | JPM | 04/13/23 | 121.00 | — | 804 | 4,883 | ||||||||||
Currency Option USD vs MXN | Put | MSI | 06/02/23 | 16.00 | — | 2,501 | 168 | ||||||||||
Currency Option USD vs ZAR | Put | JPM | 02/16/23 | 15.00 | — | 811 | 2 | ||||||||||
Total OTC Traded (cost $81,163) | $32,102 |
OTC Swaptions | |||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value | |||||||||
CDX.EM.38.V1, 12/20/27 | Call | MSI | 03/15/23 | 0.97% | 1.00%(Q) | CDX.EM.38.V1(Q) | 3,700 | $711 | |||||||||
(cost $370) | |||||||||||||||||
Total Options Purchased (cost $81,533) | $32,813 |
28
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Options Written:
OTC Traded | |||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Contracts | Notional Amount (000)# | Value | ||||||||
Currency Option AUD vs USD | Call | JPM | 02/09/23 | 0.71 | — | AUD | 1,647 | $(7,774) | |||||||
Currency Option USD vs BRL | Call | JPM | 02/07/23 | 5.50 | — | 401 | (26) | ||||||||
Currency Option USD vs CLP | Call | JPM | 02/07/23 | 890.00 | — | 401 | (20) | ||||||||
Currency Option USD vs COP | Call | MSI | 02/07/23 | 5,150.00 | — | 801 | (80) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 19.30 | — | 799 | (646) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/07/23 | 19.50 | — | 801 | (284) | ||||||||
Currency Option USD vs MXN | Call | MSI | 02/16/23 | 19.20 | — | 805 | (2,951) | ||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 17.40 | — | 399 | (4,359) | ||||||||
Currency Option USD vs ZAR | Call | MSI | 02/08/23 | 17.40 | — | 801 | (8,750) | ||||||||
Currency Option EUR vs HUF | Put | BOA | 02/09/23 | 388.00 | — | EUR | 549 | (1,570) | |||||||
Currency Option USD vs BRL | Put | JPM | 02/15/23 | 5.00 | — | 804 | (5,394) | ||||||||
Currency Option USD vs CLP | Put | CITI | 02/07/23 | 800.00 | — | 799 | (10,164) | ||||||||
Currency Option USD vs CNH | Put | MSI | 02/21/23 | 6.93 | — | 705 | (19,205) | ||||||||
Currency Option USD vs MXN | Put | MSI | 03/02/23 | 19.75 | — | 2,501 | (111,539) | ||||||||
Total OTC Traded (premiums received $137,236) | $(172,762) |
OTC Swaptions | |||||||||||||||||
Description | Call/ Put | Counterparty | Expiration Date | Strike | Receive | Pay | Notional Amount (000)# | Value | |||||||||
CDX.EM.38.V1, 12/20/27 | Call | MSI | 03/15/23 | 0.94% | CDX.EM.38.V1(Q) | 1.00%(Q) | 3,700 | $(46,934) | |||||||||
(premiums received $37,925) | |||||||||||||||||
Total Options Written (premiums received $175,161) | $(219,696) |
29
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Futures contracts outstanding at January 31, 2023: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
48 | 2 Year U.S. Treasury Notes | Mar. 2023 | $9,871,125 | $24,338 | ||||
163 | 5 Year U.S. Treasury Notes | Mar. 2023 | 17,806,477 | 36,668 | ||||
5 | 10 Year U.S. Treasury Notes | Mar. 2023 | 572,578 | (1,319) | ||||
24 | 10 Year U.S. Ultra Treasury Notes | Mar. 2023 | 2,908,875 | 9,504 | ||||
2 | 20 Year U.S. Treasury Bonds | Mar. 2023 | 259,750 | (190) | ||||
69,001 | ||||||||
Short Positions: | ||||||||
32 | 5 Year Euro-Bobl | Mar. 2023 | 4,080,726 | 62,464 | ||||
42 | 10 Year Euro-Bund | Mar. 2023 | 6,247,242 | 204,624 | ||||
19 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2023 | 2,693,250 | 9,470 | ||||
8 | Euro Schatz Index | Mar. 2023 | 919,686 | 6,505 | ||||
283,063 | ||||||||
$352,064 |
Forward foreign currency exchange contracts outstanding at January 31, 2023:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/19/23 | JPM | AUD | 1,101 | $769,556 | $779,577 | $10,021 | $— | ||||||
Expiring 04/19/23 | MSI | AUD | 291 | 203,000 | 206,184 | 3,184 | — | ||||||
Brazilian Real, | |||||||||||||
Expiring 02/02/23 | CITI | BRL | 3,880 | 718,918 | 763,940 | 45,022 | — | ||||||
Expiring 02/02/23 | CITI | BRL | 2,214 | 429,000 | 435,897 | 6,897 | — | ||||||
Expiring 03/02/23 | CITI | BRL | 3,875 | 758,759 | 759,510 | 751 | — | ||||||
Expiring 03/02/23 | CITI | BRL | 530 | 103,529 | 103,962 | 433 | — | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/23 | BOA | CAD | 766 | 571,462 | 575,827 | 4,365 | — | ||||||
Chilean Peso, | |||||||||||||
Expiring 03/15/23 | MSI | CLP | 178,194 | 198,000 | 222,334 | 24,334 | — | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/23/23 | BOA | CNH | 9,643 | 1,357,000 | 1,429,560 | 72,560 | — | ||||||
Expiring 02/23/23 | HSBC | CNH | 6,034 | 894,000 | 894,560 | 560 | — | ||||||
Expiring 02/23/23 | HSBC | CNH | 5,962 | 853,000 | 883,814 | 30,814 | — | ||||||
Expiring 02/23/23 | SCB | CNH | 9,051 | 1,341,000 | 1,341,841 | 841 | — | ||||||
Colombian Peso, | |||||||||||||
Expiring 03/15/23 | BARC | COP | 1,991,545 | 400,000 | 422,861 | 22,861 | — | ||||||
Expiring 03/15/23 | BARC | COP | 1,672,838 | 331,000 | 355,190 | 24,190 | — | ||||||
Expiring 03/15/23 | BARC | COP | 1,595,414 | 329,000 | 338,751 | 9,751 | — |
30
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Colombian Peso (cont’d.), | |||||||||||||
Expiring 03/15/23 | BNP | COP | 5,612,571 | $1,152,250 | $1,191,705 | $39,455 | $— | ||||||
Expiring 03/15/23 | BNP | COP | 3,356,063 | 684,701 | 712,585 | 27,884 | — | ||||||
Expiring 03/15/23 | CITI | COP | 2,506,959 | 545,896 | 532,297 | — | (13,599) | ||||||
Expiring 03/15/23 | CITI | COP | 1,960,442 | 427,000 | 416,257 | — | (10,743) | ||||||
Expiring 03/15/23 | CITI | COP | 1,843,730 | 395,000 | 391,475 | — | (3,525) | ||||||
Expiring 03/15/23 | UAG | COP | 951,946 | 201,000 | 202,125 | 1,125 | — | ||||||
Czech Koruna, | |||||||||||||
Expiring 04/19/23 | MSI | CZK | 19,671 | 886,000 | 895,383 | 9,383 | — | ||||||
Euro, | |||||||||||||
Expiring 04/19/23 | MSI | EUR | 212 | 232,281 | 231,598 | — | (683) | ||||||
Hungarian Forint, | |||||||||||||
Expiring 04/19/23 | BARC | HUF | 36,216 | 95,487 | 98,214 | 2,727 | — | ||||||
Expiring 04/19/23 | BOA | HUF | 109,523 | 292,513 | 297,017 | 4,504 | — | ||||||
Expiring 04/19/23 | HSBC | HUF | 450,454 | 1,180,141 | 1,221,595 | 41,454 | — | ||||||
Expiring 04/19/23 | HSBC | HUF | 300,303 | 791,635 | 814,397 | 22,762 | — | ||||||
Expiring 04/19/23 | JPM | HUF | 249,815 | 677,769 | 677,479 | — | (290) | ||||||
Expiring 04/19/23 | JPM | HUF | 180,432 | 479,127 | 489,317 | 10,190 | — | ||||||
Expiring 04/19/23 | TD | HUF | 270,648 | 721,547 | 733,975 | 12,428 | — | ||||||
Indian Rupee, | |||||||||||||
Expiring 03/15/23 | HSBC | INR | 16,781 | 205,000 | 204,575 | — | (425) | ||||||
Expiring 03/15/23 | JPM | INR | 65,942 | 797,000 | 803,876 | 6,876 | — | ||||||
Indonesian Rupiah, | |||||||||||||
Expiring 03/15/23 | HSBC | IDR | 12,880,713 | 834,000 | 858,087 | 24,087 | — | ||||||
Expiring 03/15/23 | HSBC | IDR | 8,665,132 | 578,621 | 577,254 | — | (1,367) | ||||||
Expiring 03/15/23 | JPM | IDR | 25,957,227 | 1,653,221 | 1,729,217 | 75,996 | — | ||||||
Expiring 03/15/23 | JPM | IDR | 3,078,231 | 198,000 | 205,065 | 7,065 | — | ||||||
Expiring 03/15/23 | MSI | IDR | 3,085,000 | 200,000 | 205,516 | 5,516 | — | ||||||
Expiring 03/15/23 | SCB | IDR | 16,110,893 | 1,035,000 | 1,073,275 | 38,275 | — | ||||||
Israeli Shekel, | |||||||||||||
Expiring 03/15/23 | BARC | ILS | 2,227 | 662,000 | 646,339 | — | (15,661) | ||||||
Expiring 03/15/23 | BARC | ILS | 682 | 203,000 | 197,979 | — | (5,021) | ||||||
Expiring 03/15/23 | CITI | ILS | 3,007 | 884,000 | 872,512 | — | (11,488) | ||||||
Expiring 03/15/23 | CITI | ILS | 2,920 | 868,000 | 847,185 | — | (20,815) | ||||||
Expiring 03/15/23 | CITI | ILS | 1,404 | 401,000 | 407,529 | 6,529 | — | ||||||
Expiring 03/15/23 | JPM | ILS | 2,330 | 679,200 | 676,085 | — | (3,115) | ||||||
Expiring 03/15/23 | JPM | ILS | 1,403 | 401,000 | 407,157 | 6,157 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/19/23 | GSI | JPY | 24,966 | 197,118 | 193,907 | — | (3,211) | ||||||
Mexican Peso, | |||||||||||||
Expiring 03/15/23 | BARC | MXN | 3,925 | 206,000 | 206,790 | 790 | — | ||||||
Expiring 03/15/23 | BOA | MXN | 3,890 | 193,000 | 204,968 | 11,968 | — | ||||||
Expiring 03/15/23 | CITI | MXN | 16,067 | 848,000 | 846,592 | — | (1,408) |
31
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Mexican Peso (cont’d.), | |||||||||||||
Expiring 03/15/23 | CITI | MXN | 10,292 | $545,000 | $542,314 | $— | $(2,686) | ||||||
Expiring 03/15/23 | GSI | MXN | 14,561 | 739,000 | 767,266 | 28,266 | — | ||||||
Expiring 03/15/23 | GSI | MXN | 10,281 | 524,000 | 541,730 | 17,730 | — | ||||||
Expiring 03/15/23 | HSBC | MXN | 3,963 | 206,000 | 208,823 | 2,823 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 19,484 | 995,000 | 1,026,635 | 31,635 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 15,491 | 812,000 | 816,228 | 4,228 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 7,695 | 406,323 | 405,480 | — | (843) | ||||||
Expiring 03/15/23 | JPM | MXN | 3,987 | 198,000 | 210,089 | 12,089 | — | ||||||
Expiring 03/15/23 | JPM | MXN | 3,860 | 193,000 | 203,374 | 10,374 | — | ||||||
Expiring 03/15/23 | MSI | MXN | 3,893 | 205,000 | 205,116 | 116 | — | ||||||
New Taiwanese Dollar, | |||||||||||||
Expiring 03/15/23 | BOA | TWD | 19,660 | 658,870 | 658,447 | — | (423) | ||||||
Expiring 03/15/23 | GSI | TWD | 41,178 | 1,379,000 | 1,379,131 | 131 | — | ||||||
Expiring 03/15/23 | JPM | TWD | 21,320 | 699,000 | 714,049 | 15,049 | — | ||||||
Expiring 03/15/23 | MSI | TWD | 25,531 | 838,000 | 855,074 | 17,074 | — | ||||||
Expiring 03/15/23 | MSI | TWD | 19,231 | 638,000 | 644,065 | 6,065 | — | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/19/23 | BARC | NZD | 318 | 206,000 | 205,483 | — | (517) | ||||||
Philippine Peso, | |||||||||||||
Expiring 03/15/23 | CITI | PHP | 68,416 | 1,230,000 | 1,249,276 | 19,276 | — | ||||||
Expiring 03/15/23 | JPM | PHP | 45,979 | 819,000 | 839,567 | 20,567 | — | ||||||
Expiring 03/15/23 | SCB | PHP | 55,319 | 994,000 | 1,010,122 | 16,122 | — | ||||||
Expiring 03/15/23 | SCB | PHP | 47,761 | 853,000 | 872,117 | 19,117 | — | ||||||
Singapore Dollar, | |||||||||||||
Expiring 03/15/23 | BNP | SGD | 406 | 295,000 | 309,393 | 14,393 | — | ||||||
Expiring 03/15/23 | MSI | SGD | 1,044 | 772,665 | 795,451 | 22,786 | — | ||||||
South African Rand, | |||||||||||||
Expiring 03/15/23 | GSI | ZAR | 3,532 | 205,000 | 202,245 | — | (2,755) | ||||||
Expiring 03/15/23 | HSBC | ZAR | 7,028 | 403,000 | 402,353 | — | (647) | ||||||
Expiring 03/15/23 | JPM | ZAR | 59,909 | 3,433,363 | 3,430,016 | — | (3,347) | ||||||
Expiring 03/15/23 | JPM | ZAR | 12,130 | 701,205 | 694,512 | — | (6,693) | ||||||
South Korean Won, | |||||||||||||
Expiring 03/15/23 | BOA | KRW | 263,000 | 200,000 | 213,575 | 13,575 | — | ||||||
Expiring 03/15/23 | CITI | KRW | 251,302 | 198,000 | 204,075 | 6,075 | — | ||||||
Expiring 03/15/23 | HSBC | KRW | 252,230 | 192,000 | 204,830 | 12,830 | — | ||||||
Expiring 03/15/23 | JPM | KRW | 1,027,419 | 790,335 | 834,340 | 44,005 | — | ||||||
Expiring 03/15/23 | JPM | KRW | 248,066 | 188,000 | 201,448 | 13,448 | — | ||||||
Thai Baht, | |||||||||||||
Expiring 03/15/23 | CITI | THB | 23,696 | 684,000 | 721,060 | 37,060 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 33,358 | 970,000 | 1,015,059 | 45,059 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 29,201 | 896,000 | 888,545 | — | (7,455) | ||||||
Expiring 03/15/23 | HSBC | THB | 29,184 | 840,000 | 888,030 | 48,030 | — |
32
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Thai Baht (cont’d.), | |||||||||||||
Expiring 03/15/23 | HSBC | THB | 26,898 | $799,000 | $818,489 | $19,489 | $— | ||||||
Expiring 03/15/23 | HSBC | THB | 23,801 | 688,000 | 724,251 | 36,251 | — | ||||||
$54,456,492 | $55,485,193 | 1,145,418 | (116,717) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/19/23 | BNP | AUD | 580 | $412,000 | $410,607 | $1,393 | $— | ||||||
Expiring 04/19/23 | BNP | AUD | 278 | 198,000 | 196,961 | 1,039 | — | ||||||
Expiring 04/19/23 | CITI | AUD | 289 | 203,000 | 204,447 | — | (1,447) | ||||||
Expiring 04/19/23 | JPM | AUD | 291 | 203,968 | 206,019 | — | (2,051) | ||||||
Expiring 04/19/23 | JPM | AUD | 257 | 182,885 | 182,009 | 876 | — | ||||||
Expiring 04/19/23 | JPM | AUD | 256 | 181,770 | 181,240 | 530 | — | ||||||
Expiring 04/19/23 | MSI | AUD | 291 | 205,153 | 206,019 | — | (866) | ||||||
Brazilian Real, | |||||||||||||
Expiring 02/02/23 | CITI | BRL | 3,875 | 762,469 | 762,986 | — | (517) | ||||||
Expiring 02/02/23 | TD | BRL | 2,219 | 419,000 | 436,851 | — | (17,851) | ||||||
Expiring 03/02/23 | CITI | BRL | 2,864 | 560,000 | 561,384 | — | (1,384) | ||||||
British Pound, | |||||||||||||
Expiring 04/19/23 | HSBC | GBP | 102 | 124,929 | 126,338 | — | (1,409) | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/19/23 | CITI | CAD | 220 | 165,000 | 165,603 | — | (603) | ||||||
Expiring 04/19/23 | GSI | CAD | 274 | 205,000 | 206,288 | — | (1,288) | ||||||
Expiring 04/19/23 | JPM | CAD | 272 | 203,000 | 204,673 | — | (1,673) | ||||||
Chilean Peso, | |||||||||||||
Expiring 03/15/23 | BARC | CLP | 458,688 | 527,719 | 572,308 | — | (44,589) | ||||||
Expiring 03/15/23 | CITI | CLP | 427,763 | 525,533 | 533,722 | — | (8,189) | ||||||
Expiring 03/15/23 | CITI | CLP | 362,991 | 439,000 | 452,906 | — | (13,906) | ||||||
Expiring 03/15/23 | JPM | CLP | 261,006 | 318,350 | 325,658 | — | (7,308) | ||||||
Expiring 03/15/23 | MSI | CLP | 381,942 | 434,000 | 476,551 | — | (42,551) | ||||||
Expiring 03/15/23 | MSI | CLP | 174,682 | 198,000 | 217,951 | — | (19,951) | ||||||
Expiring 03/15/23 | UAG | CLP | 379,516 | 455,000 | 473,524 | — | (18,524) | ||||||
Chinese Renminbi, | |||||||||||||
Expiring 02/23/23 | BOA | CNH | 4,807 | 701,000 | 712,695 | — | (11,695) | ||||||
Expiring 02/23/23 | CITI | CNH | 41,926 | 6,007,888 | 6,215,530 | — | (207,642) | ||||||
Expiring 02/23/23 | GSI | CNH | 5,528 | 805,000 | 819,551 | — | (14,551) | ||||||
Expiring 02/23/23 | JPM | CNH | 8,892 | 1,315,329 | 1,318,266 | — | (2,937) | ||||||
Expiring 02/23/23 | JPM | CNH | 2,440 | 347,000 | 361,773 | — | (14,773) |
33
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Chinese Renminbi (cont’d.), | |||||||||||||
Expiring 02/23/23 | MSI | CNH | 1,296 | $183,000 | $192,149 | $— | $(9,149) | ||||||
Colombian Peso, | |||||||||||||
Expiring 03/15/23 | BNP | COP | 1,305,981 | 262,230 | 277,296 | — | (15,066) | ||||||
Expiring 03/15/23 | BNP | COP | 710,806 | 144,770 | 150,924 | — | (6,154) | ||||||
Expiring 03/15/23 | MSI | COP | 2,239,786 | 454,000 | 475,569 | — | (21,569) | ||||||
Expiring 03/15/23 | UAG | COP | 2,161,706 | 432,000 | 458,991 | — | (26,991) | ||||||
Czech Koruna, | |||||||||||||
Expiring 04/19/23 | HSBC | CZK | 9,744 | 436,399 | 443,521 | — | (7,122) | ||||||
Euro, | |||||||||||||
Expiring 04/19/23 | BOA | EUR | 1,046 | 1,142,578 | 1,143,098 | — | (520) | ||||||
Expiring 04/19/23 | GSI | EUR | 212 | 231,935 | 231,598 | 337 | — | ||||||
Expiring 04/19/23 | JPM | EUR | 846 | 921,307 | 924,208 | — | (2,901) | ||||||
Expiring 04/19/23 | JPM | EUR | 427 | 464,724 | 466,036 | — | (1,312) | ||||||
Expiring 04/19/23 | JPM | EUR | 187 | 204,135 | 204,287 | — | (152) | ||||||
Expiring 04/19/23 | MSI | EUR | 6,317 | 6,891,636 | 6,900,925 | — | (9,289) | ||||||
Expiring 04/19/23 | SCB | EUR | 5,944 | 6,462,405 | 6,493,728 | — | (31,323) | ||||||
Indian Rupee, | |||||||||||||
Expiring 03/15/23 | CITI | INR | 16,228 | 195,005 | 197,829 | — | (2,824) | ||||||
Expiring 03/15/23 | GSI | INR | 21,238 | 260,000 | 258,906 | 1,094 | — | ||||||
Expiring 03/15/23 | JPM | INR | 63,030 | 762,000 | 768,370 | — | (6,370) | ||||||
Indonesian Rupiah, | |||||||||||||
Expiring 03/15/23 | BOA | IDR | 2,135,868 | 143,500 | 142,287 | 1,213 | — | ||||||
Expiring 03/15/23 | CITI | IDR | 916,043 | 61,500 | 61,025 | 475 | — | ||||||
Expiring 03/15/23 | JPM | IDR | 14,490,830 | 970,000 | 965,349 | 4,651 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/19/23 | BOA | JPY | 25,709 | 203,000 | 199,676 | 3,324 | — | ||||||
Expiring 04/19/23 | JPM | JPY | 24,691 | 195,000 | 191,772 | 3,228 | — | ||||||
Expiring 04/19/23 | JPM | JPY | 18,412 | 143,186 | 143,001 | 185 | — | ||||||
Expiring 04/19/23 | MSI | JPY | 26,471 | 205,000 | 205,594 | — | (594) | ||||||
Mexican Peso, | |||||||||||||
Expiring 03/15/23 | CITI | MXN | 17,447 | 894,058 | 919,320 | — | (25,262) | ||||||
Expiring 03/15/23 | HSBC | MXN | 3,913 | 206,000 | 206,179 | — | (179) | ||||||
New Taiwanese Dollar, | |||||||||||||
Expiring 03/15/23 | GSI | TWD | 32,039 | 1,039,000 | 1,073,034 | — | (34,034) | ||||||
Expiring 03/15/23 | JPM | TWD | 105,354 | 3,499,540 | 3,528,471 | — | (28,931) | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/19/23 | JPM | NZD | 331 | 214,000 | 213,784 | 216 | — | ||||||
Peruvian Nuevo Sol, | |||||||||||||
Expiring 03/15/23 | CITI | PEN | 3,422 | 884,000 | 886,645 | — | (2,645) | ||||||
Expiring 03/15/23 | CITI | PEN | 453 | 118,014 | 117,413 | 601 | — | ||||||
Philippine Peso, | |||||||||||||
Expiring 03/15/23 | BOA | PHP | 37,823 | 692,000 | 690,638 | 1,362 | — |
34
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Forward foreign currency exchange contracts outstanding at January 31, 2023 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Philippine Peso (cont’d.), | |||||||||||||
Expiring 03/15/23 | HSBC | PHP | 27,489 | $503,563 | $501,956 | $1,607 | $— | ||||||
Expiring 03/15/23 | JPM | PHP | 44,586 | 796,000 | 814,143 | — | (18,143) | ||||||
Expiring 03/15/23 | MSI | PHP | 184,238 | 3,247,633 | 3,364,175 | — | (116,542) | ||||||
Expiring 03/15/23 | MSI | PHP | 35,256 | 643,366 | 643,780 | — | (414) | ||||||
Expiring 03/15/23 | MSI | PHP | 17,562 | 321,634 | 320,672 | 962 | — | ||||||
Expiring 03/15/23 | SCB | PHP | 69,825 | 1,274,000 | 1,274,994 | — | (994) | ||||||
Expiring 03/15/23 | SCB | PHP | 37,086 | 653,000 | 677,178 | — | (24,178) | ||||||
Polish Zloty, | |||||||||||||
Expiring 04/19/23 | BARC | PLN | 2,084 | 464,980 | 478,338 | — | (13,358) | ||||||
Expiring 04/19/23 | BARC | PLN | 1,025 | 229,020 | 235,241 | — | (6,221) | ||||||
Expiring 04/19/23 | BARC | PLN | 435 | 99,280 | 99,868 | — | (588) | ||||||
Expiring 04/19/23 | BOA | PLN | 1,421 | 326,017 | 326,199 | — | (182) | ||||||
Expiring 04/19/23 | CITI | PLN | 2,195 | 499,000 | 503,830 | — | (4,830) | ||||||
Expiring 04/19/23 | JPM | PLN | 2,878 | 658,909 | 660,459 | — | (1,550) | ||||||
Expiring 04/19/23 | MSI | PLN | 10,083 | 2,292,362 | 2,313,997 | — | (21,635) | ||||||
Expiring 04/19/23 | MSI | PLN | 3,576 | 818,000 | 820,652 | — | (2,652) | ||||||
Singapore Dollar, | |||||||||||||
Expiring 03/15/23 | HSBC | SGD | 1,176 | 874,000 | 896,019 | — | (22,019) | ||||||
Expiring 03/15/23 | JPM | SGD | 321 | 243,000 | 244,755 | — | (1,755) | ||||||
South African Rand, | |||||||||||||
Expiring 03/15/23 | BOA | ZAR | 10,287 | 608,000 | 588,975 | 19,025 | — | ||||||
Expiring 03/15/23 | JPM | ZAR | 7,481 | 440,000 | 428,305 | 11,695 | — | ||||||
South Korean Won, | |||||||||||||
Expiring 03/15/23 | BARC | KRW | 253,579 | 198,000 | 205,924 | — | (7,924) | ||||||
Expiring 03/15/23 | CITI | KRW | 258,291 | 198,000 | 209,751 | — | (11,751) | ||||||
Expiring 03/15/23 | JPM | KRW | 304,144 | 237,000 | 246,988 | — | (9,988) | ||||||
Expiring 03/15/23 | JPM | KRW | 251,135 | 203,000 | 203,940 | — | (940) | ||||||
Expiring 03/15/23 | MSI | KRW | 791,544 | 645,000 | 642,792 | 2,208 | — | ||||||
Expiring 03/15/23 | MSI | KRW | 253,916 | 206,000 | 206,198 | — | (198) | ||||||
Expiring 03/15/23 | MSI | KRW | 250,446 | 201,000 | 203,381 | — | (2,381) | ||||||
Expiring 03/15/23 | SCB | KRW | 256,964 | 198,000 | 208,674 | — | (10,674) | ||||||
Thai Baht, | |||||||||||||
Expiring 03/15/23 | CITI | THB | 17,150 | 496,000 | 521,867 | — | (25,867) | ||||||
Expiring 03/15/23 | GSI | THB | 121,572 | 3,468,524 | 3,699,304 | — | (230,780) | ||||||
Expiring 03/15/23 | GSI | THB | 5,346 | 149,000 | 162,681 | — | (13,681) | ||||||
Expiring 03/15/23 | HSBC | THB | 6,702 | 205,000 | 203,931 | 1,069 | — | ||||||
Expiring 03/15/23 | HSBC | THB | 6,617 | 202,000 | 201,340 | 660 | — | ||||||
Expiring 03/15/23 | SCB | THB | 20,085 | 561,000 | 611,181 | — | (50,181) | ||||||
$67,175,203 | $68,384,971 | 57,750 | (1,267,518) | ||||||||||
$1,203,168 | $(1,384,235) |
35
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Cross currency exchange contracts outstanding at January 31, 2023: | ||||||||||||||
Settlement | Type | Notional Amount (000) | In Exchange For (000) | Unrealized Appreciation | Unrealized Depreciation | Counterparty | ||||||||
OTC Cross Currency Exchange Contracts: | ||||||||||||||
03/15/23 | Buy | ZAR | 3,530 | EUR | 188 | $— | $(2,824) | MSI | ||||||
04/19/23 | Buy | EUR | 381 | JPY | 52,658 | 7,235 | — | BARC | ||||||
04/19/23 | Buy | EUR | 652 | PLN | 3,110 | — | (1,287) | CITI | ||||||
04/19/23 | Buy | PLN | 2,336 | EUR | 491 | — | (47) | MSI | ||||||
$7,235 | $(4,158) |
Credit default swap agreements outstanding at January 31, 2023:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at January 31, 2023(4) | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2): | |||||||||||||||
CDX.EM.38.V1 | 12/20/27 | 1.000%(Q) | 14,875 | 2.216% | $(822,929) | $(742,153) | $80,776 |
The Fund entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap |
36
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Interest rate swap agreements outstanding at January 31, 2023:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
BRL | 6,928 | 01/02/25 | 11.673%(T) | 1 Day BROIS(2)(T)/ 0.051% | $— | $(32,873) | $(32,873) | |||||||
BRL | 1,952 | 01/04/27 | 12.503%(T) | 1 Day BROIS(2)(T)/ 0.051% | — | (2,461) | (2,461) | |||||||
CLP | 984,310 | 03/15/25 | 6.520%(S) | 1 Day CLOIS(1)(S)/ 11.250% | (223) | 9,219 | 9,442 | |||||||
CLP | 314,620 | 03/15/28 | 5.370%(S) | 1 Day CLOIS(1)(S)/ 11.250% | — | 1,805 | 1,805 | |||||||
CLP | 313,000 | 01/11/33 | 5.120%(S) | 1 Day CLOIS(1)(S)/ 11.250% | — | 5,245 | 5,245 | |||||||
CLP | 269,670 | 03/15/33 | 5.100%(S) | 1 Day CLOIS(1)(S)/ 11.250% | — | 2,638 | 2,638 | |||||||
CNH | 4,647 | 12/15/27 | 2.680%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 2.200% | — | (5,847) | (5,847) | |||||||
COP | 2,595,600 | 03/15/25 | 10.769%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 1,735 | 1,735 | |||||||
COP | 4,281,050 | 03/15/25 | 11.030%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 7,066 | 7,066 | |||||||
COP | 1,213,530 | 03/15/28 | 9.660%(Q) | 1 Day COOIS(2)(Q)/ 11.815% | — | 1,292 | 1,292 | |||||||
CZK | 10,000 | 03/15/28 | 4.630%(A) | 6 Month PRIBOR(1)(S)/ 7.220% | — | 1,502 | 1,502 | |||||||
KRW | 400,000 | 09/21/27 | 3.639%(Q) | 3 Month KWCDC(1)(Q)/ 3.540% | (3,603) | (6,604) | (3,001) | |||||||
KRW | 2,800,000 | 12/21/27 | 4.197%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | 118,043 | 108,894 | (9,149) | |||||||
KRW | 600,000 | 03/15/28 | 2.965%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | — | (3,269) | (3,269) |
37
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
KRW | 800,000 | 03/15/28 | 3.100%(Q) | 3 Month KWCDC(2)(Q)/ 3.540% | $— | $(308) | $(308) | |||||||
MXN | 9,811 | 12/15/27 | 8.535%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | — | (57) | (57) | |||||||
MXN | 13,205 | 12/15/27 | 8.950%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | 7,260 | 11,556 | 4,296 | |||||||
MXN | 7,435 | 12/15/27 | 9.348%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | (35) | 12,784 | 12,819 | |||||||
MXN | 5,070 | 03/08/28 | 8.150%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | 1,545 | (2,924) | (4,469) | |||||||
MXN | 10,750 | 03/08/28 | 8.421%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 10.797% | — | (23) | (23) | |||||||
MXN | 14,627 | 03/08/28 | 8.475%(M) | 28 Day Mexican Interbank Rate(1)(M)/ 10.797% | (11,092) | (1,643) | 9,449 | |||||||
PLN | 1,204 | 06/15/27 | 4.970%(A) | 6 Month WIBOR(2)(S)/ 6.990% | (16,470) | 396 | 16,866 | |||||||
PLN | 2,826 | 09/21/27 | 5.487%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 4,101 | 4,101 | |||||||
PLN | 5,393 | 09/21/27 | 6.547%(A) | 6 Month WIBOR(1)(S)/ 6.990% | 1,194 | (48,189) | (49,383) | |||||||
PLN | 1,175 | 10/06/27 | 6.826%(A) | 6 Month WIBOR(2)(S)/ 6.990% | — | 13,700 | 13,700 | |||||||
PLN | 2,547 | 10/25/27 | 7.900%(A) | 6 Month WIBOR(2)(S)/ 6.990% | — | 56,473 | 56,473 |
38
PGIM Emerging Markets Debt Hard Currency Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Interest rate swap agreements outstanding at January 31, 2023 (continued):
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at January 31, 2023 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements (cont’d.): | ||||||||||||||
PLN | 1,185 | 12/21/27 | 6.845%(A) | 6 Month WIBOR(2)(S)/ 6.990% | $11,331 | $15,382 | $4,051 | |||||||
PLN | 2,300 | 03/15/28 | 5.258%(A) | 6 Month WIBOR(1)(S)/ 6.990% | — | 2,369 | 2,369 | |||||||
ZAR | 52,851 | 09/21/27 | 7.490%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | 49,954 | 12,768 | (37,186) | |||||||
ZAR | 26,104 | 09/21/27 | 7.995%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (4,660) | 24,040 | 28,700 | |||||||
ZAR | 9,339 | 11/10/27 | 8.170%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (22) | 13,388 | 13,410 | |||||||
ZAR | 10,122 | 12/21/27 | 8.860%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | (2,875) | (29,476) | (26,601) | |||||||
ZAR | 8,800 | 03/15/28 | 7.646%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | — | (1,602) | (1,602) | |||||||
ZAR | 8,868 | 03/15/28 | 7.766%(Q) | 3 Month JIBAR(1)(Q)/ 7.467% | — | (895) | (895) | |||||||
ZAR | 5,396 | 11/10/32 | 9.160%(Q) | 3 Month JIBAR(2)(Q)/ 7.467% | (21) | 11,721 | 11,742 | |||||||
$150,326 | $181,903 | $31,577 |
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Fair Value | Upfront Premiums Paid(Received) | Unrealized Appreciation (Depreciation) | Counterparty | ||||||||
OTC Interest Rate Swap Agreement: | |||||||||||||||
MYR | 3,100 | 03/15/28 | 3.713%(Q) | 3 Month KLIBOR(1)(Q)/ 3.680% | $(5,659) | $— | $(5,659) | BOA |
(1) | The Fund pays the fixed rate and receives the floating rate. |
(2) | The Fund pays the floating rate and receives the fixed rate. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
39