UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: | 811-04661 | |
Exact name of registrant as specified in charter: | Prudential Global Total Return Fund, Inc. | |
Address of principal executive offices: | Gateway Center 3, | |
100 Mulberry Street, | ||
Newark, New Jersey 07102 | ||
Name and address of agent for service: | Deborah A. Docs | |
Gateway Center 3, | ||
100 Mulberry Street, | ||
Newark, New Jersey 07102 | ||
Registrant’s telephone number, including area code: | 800-225-1852 | |
Date of fiscal year end: | 10/31/2013 | |
Date of reporting period: | 4/30/2013 |
Item 1 – Reports to Stockholders
PRUDENTIAL INVESTMENTS»MUTUAL FUNDS
PRUDENTIAL GLOBAL TOTAL RETURN FUND, INC.
SEMIANNUAL REPORT · APRIL 30, 2013
Fund Type
Global Bond
Objective
Total return, made up of current income and capital appreciation
This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current prospectus.
The views expressed in this report and information about the Fund’s portfolio holdings are for the period covered by this report and are subject to change thereafter.
The accompanying financial statements as of April 30, 2013, were not audited, and accordingly, no auditor’s opinion is expressed on them.
Prudential Investments, Prudential, the Prudential logo, the Rock symbol, and Bring Your Challenges are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide.
June 14, 2013
Dear Shareholder:
We hope you find the semiannual report for the Prudential Global Total Return Fund, Inc. informative and useful. The report covers performance for the six-month period that ended April 30, 2013.
We recognize that ongoing market volatility may make it a difficult time to be an investor. We continue to believe a prudent response to uncertainty is to maintain a diversified portfolio of funds consistent with your tolerance for risk, time horizon, and financial goals.
Your financial advisor can help you create a diversified investment plan that may include funds covering all the basic asset classes and that reflects your personal investor profile and risk tolerance. Keep in mind, however, that diversification and asset allocation strategies do not assure a profit or protect against loss in declining markets.
Prudential Investments® is dedicated to helping you solve your toughest investment challenges—whether it’s capital growth, reliable income, or protection from market volatility and other risks. We offer the expertise of Prudential Financial’s affiliated asset managers* that strive to be leaders in a broad range of funds to help you stay on course to the future you envision. They also manage money for major corporations and pension funds around the world, which means you benefit from the same expertise, innovation, and attention to risk demanded by today’s most sophisticated investors.
Thank you for choosing the Prudential Investments family of funds.
Sincerely,
Stuart S. Parker, President
Prudential Global Total Return Fund, Inc.
*Most of Prudential Investments’ equity funds are advised by Jennison Associates LLC, Quantitative Management Associates LLC (QMA), or Prudential Real Estate Investors. Prudential Investments’ fixed income and money market funds are advised by Prudential Investment Management, Inc. (PIM) through its Prudential Fixed Income unit. Jennison Associates, QMA, and PIM are registered investment advisers and Prudential Financial companies. Prudential Real Estate Investors is a unit of PIM.
Prudential Global Total Return Fund, Inc. | 1 |
Your Fund’s Performance (Unaudited)
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.prudentialfunds.com or by calling (800) 225-1852. The maximum initial sales charge is 4.50% (Class A shares). Gross operating expenses: Class A, 1.26%; Class B, 1.96%; Class C, 1.96%; Class Q, 0.84%; Class Z, 0.96%. Net operating expenses: Class A, 1.21%; Class B, 1.96%; Class C, 1.96%; Class Q, 0.84%; Class Z, 0.96%, after contractual reduction through 2/28/2014 for Class A shares.
Cumulative Total Returns (Without Sales Charges) as of 4/30/13 | ||||||||||||||||||
Six Months | One Year | Five Years | Ten Years | Since Inception | ||||||||||||||
Class A | 2.65 | % | 8.89 | % | 45.37 | % | 90.34 | % | — | |||||||||
Class B | 2.41 | 8.23 | 40.28 | 76.82 | — | |||||||||||||
Class C | 2.27 | 8.26 | 41.56 | 80.55 | — | |||||||||||||
Class Q | 2.83 | 9.44 | N/A | N/A | 9.83% (2/3/12) | |||||||||||||
Class Z | 2.76 | 9.29 | 47.23 | 95.21 | — | |||||||||||||
Barclays Global Aggregate Bond Index | –1.07 | 1.46 | 23.69 | 70.53 | — | |||||||||||||
Lipper Global Income Funds Average | 1.95 | 5.85 | 29.95 | 69.67 | — | |||||||||||||
Lipper Custom Global Income Funds Average | 2.02 | 6.15 | 30.35 | 77.14 | — | |||||||||||||
Average Annual Total Returns (With Sales Charges) as of 3/31/13 | ||||||||||||||||||
One Year | Five Years | Ten Years | Since Inception | |||||||||||||||
Class A | 2.12 | % | 5.85 | % | 5.94 | % | — | |||||||||||
Class B | 1.14 | 5.87 | 5.64 | — | ||||||||||||||
Class C | 5.16 | 6.24 | 5.88 | — | ||||||||||||||
Class Q | 7.33 | N/A | N/A | 5.53% (2/3/12) | ||||||||||||||
Class Z | 7.02 | 7.07 | 6.70 | — | ||||||||||||||
Barclays Global Aggregate Bond Index | 1.26 | 3.66 | 5.47 | — | ||||||||||||||
Lipper Global Income Funds Average | 5.00 | 4.82 | 5.35 | — | ||||||||||||||
Lipper Custom Global Income Funds Average | 5.29 | 4.81 | 5.88 | — |
Source: Prudential Investments LLC and Lipper Inc.
2 | Visit our website at www.prudentialfunds.com |
Inception returns are provided for any share class with less than 10 calendar years of returns.
The average annual total returns take into account applicable sales charges. Class A shares are subject to a maximum front-end sales charge of 4.50% and a 12b-1 fee of 0.30% annually. All investors who purchase Class A shares in an amount of $1 million or more and sell these shares within 12 months of purchase are subject to a contingent deferred sales charge (CDSC) of 1%. The Class A CDSC is waived for purchases by certain retirement or benefit plans. Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund. Class B shares are not subject to a front-end sales charge but are subject to a declining CDSC of 5%, 4%, 3%, 2%, 1%, and 1%, respectively, for the first six years after purchase and a 12b-1 fee of 1% annually. Approximately seven years after purchase, Class B shares will automatically convert to Class A shares on a quarterly basis. Class C shares are not subject to a front-end sales charge, but are subject to a CDSC of 1% for shares sold within 12 months from the date of purchase and an annual 12b-1 fee of 1%. Class Q and Class Z shares are not subject to a front-end sales charge, a CDSC or 12b-1 fees. Without waiver of fees and/or expense subsidization, the Fund’s total returns would have been lower. The returns in the tables reflect the share class expense structure in effect at the close of the fiscal period. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares.
Benchmark Definitions
Barclays Global Aggregate Bond Index
The Barclays Global Aggregate Bond Index is an unmanaged index of global investment-grade fixed income markets. The three major components of this index are the U.S. Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices. The index also includes Eurodollar and Euro-Yen corporate bonds, Canadian government, agency and corporate securities. Barclays Global Aggregate Bond Index Closest Month-End to Inception cumulative total return as of 4/30/13 is 1.85% for Class Q. Barclays Global Aggregate Bond Index Closest Month-End to Inception average annual total return as of 3/31/13 is 0.39% for Class Q.
Lipper Global Income Funds Average
The Lipper Global Income Funds Average (Lipper Average) represents returns based on an average return of all funds in the Lipper Global Income Funds category for the periods noted. Funds in the Lipper Average invest primarily in U.S. dollar and non-U.S. dollar debt securities of issuers located in at least three countries, one of which may be the United States. Lipper Average Closest Month-End to Inception cumulative total return as of 4/30/13 is 7.00% for Class Q. Lipper Average Closest Month-End to Inception average annual total return as of 3/31/13 is 4.42% for Class Q.
Note: The Fund is being compared only to the unhedged funds within the Lipper Global Income Funds Performance Universe, because the Fund’s investment manager believes that the unhedged funds provide a more appropriate basis for Fund performance comparisons.
Investors cannot invest directly in an index or average. The returns for the Index would be lower if they included the effects of sales charges, operating expenses of a mutual fund, or taxes. Returns for the Lipper Average reflect the deduction of operating expenses, but not sales charges or taxes.
Prudential Global Total Return Fund, Inc. | 3 |
Your Fund’s Performance (continued)
Five Largest Long-Term Holdings expressed as a percentage of net assets as of 4/30/13 |
| |||
Italy Buoni Poliennali del Tesoro, Bonds, 6.500%, 11/01/27 | 1.9 | % | ||
Peruvian Government International Bond, Sr. Unsec’d. Notes, RegS, 7.500%, 10/14/14 | 1.7 | |||
Spain Government Bond, Sr. Unsub. Notes, 5.850%, 01/31/22 | 1.5 | |||
Italy Buoni Poliennali del Tesoro, Bonds, 4.750%, 05/01/17 | 1.5 | |||
Russian Foreign Bond - Eurobond, Sr. Unsec’d. Notes, RegS, 7.500%, 03/31/30 | 1.5 |
Holdings are subject to change.
Distributions and Yields as of 4/30/13 | ||||||||
Total Distributions Paid for Six Months | 30-Day SEC Yield | |||||||
Class A | $ | 0.14 | 1.83 | % | ||||
Class B | 0.11 | 1.18 | ||||||
Class C | 0.11 | 1.19 | ||||||
Class Q | 0.15 | 2.29 | ||||||
Class Z | 0.15 | 2.16 |
4 | Visit our website at www.prudentialfunds.com |
Fees and Expenses (Unaudited)
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemptions, as applicable, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses, as applicable. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested on November 1, 2012, at the beginning of the period, and held through the six-month period ended April 30, 2013. The example is for illustrative purposes only; you should consult the Prospectus for information on initial and subsequent minimum investment requirements.
The Fund’s transfer agent may charge additional fees to holders of certain accounts that are not included in the expenses shown in the table on the following page. These fees apply to individual retirement accounts (IRAs) and Section 403(b) accounts. As of the close of the six-month period covered by the table, IRA fees included an annual maintenance fee of $15 per account (subject to a maximum annual maintenance fee of $25 for all accounts held by the same shareholder). Section 403(b) accounts are charged an annual $25 fiduciary maintenance fee. Some of the fees may vary in amount, or may be waived, based on your total account balance or the number of Prudential Investments funds, including the Fund, that you own. You should consider the additional fees that were charged to your Fund account over the six-month period when you estimate the total ongoing expenses paid over the period and the impact of these fees on your ending account value, as these additional expenses are not reflected in the information provided in the expense table. Additional fees have the effect of reducing investment returns.
Actual Expenses
The first line for each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number on the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line for each share class in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not
Prudential Global Total Return Fund, Inc. | 5 |
Fees and Expenses (continued)
be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as sales charges (loads). Therefore, the second line for each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Prudential Global Total Return Fund, Inc. | Beginning Account Value November 1, 2012 | Ending Account Value April 30, 2013 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period* | ||||||||||||||
Class A | Actual | $ | 1,000.00 | $ | 1,026.50 | 1.21 | % | $ | 6.08 | |||||||||
Hypothetical | $ | 1,000.00 | $ | 1,018.79 | 1.21 | % | $ | 6.06 | ||||||||||
Class B | Actual | $ | 1,000.00 | $ | 1,024.10 | 1.96 | % | $ | 9.84 | |||||||||
Hypothetical | $ | 1,000.00 | $ | 1,015.08 | 1.96 | % | $ | 9.79 | ||||||||||
Class C | Actual | $ | 1,000.00 | $ | 1,022.70 | 1.96 | % | $ | 9.83 | |||||||||
Hypothetical | $ | 1,000.00 | $ | 1,015.08 | 1.96 | % | $ | 9.79 | ||||||||||
Class Q | Actual | $ | 1,000.00 | $ | 1,028.30 | 0.84 | % | $ | 4.22 | |||||||||
Hypothetical | $ | 1,000.00 | $ | 1,020.63 | 0.84 | % | $ | 4.21 | ||||||||||
Class Z | Actual | $ | 1,000.00 | $ | 1,027.60 | 0.96 | % | $ | 4.83 | |||||||||
Hypothetical | $ | 1,000.00 | $ | 1,020.03 | 0.96 | % | $ | 4.81 |
*Fund expenses (net of fee waivers or subsidies, if any) for each share class are equal to the annualized expense ratio for each share class (provided in the table), multiplied by the average account value over the period, multiplied by the 181 days in the six-month period ended April 30, 2013, and divided by the 365 days in the Fund’s fiscal year ending October 31, 2013 (to reflect the six-month period). Expenses presented in the table include the expenses of any underlying portfolios in which the Fund may invest.
6 | Visit our website at www.prudentialfunds.com |
Portfolio of Investments
as of April 30, 2013 (Unaudited)
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| LONG-TERM INVESTMENTS 96.5% | |||||||
| FOREIGN BONDS 64.7% | |||||||
| Austria 0.7% | |||||||
EUR | 500 | Austria Government Bond, Sr. Unsec’d. Notes, | $ | 728,537 | ||||
AUD | 1,559 | Austria Government International Bond, Notes, MTN, 5.750%, 09/15/14 | 1,669,677 | |||||
|
| |||||||
2,398,214 | ||||||||
|
| |||||||
| Belgium 2.6% | |||||||
EUR | 750 | Belgium Government Bond, | 1,178,045 | |||||
EUR | 1,250 | Ser. 59, | 1,763,025 | |||||
1,535 | Belgium Government International Bond, Sr. Unsec’d. Notes, | 1,595,540 | ||||||
500 | Kingdom of Belgium, | 754,135 | ||||||
GBP | 2,000 | Notes, Ser. E, MTN, | 3,619,492 | |||||
|
| |||||||
8,910,237 | ||||||||
|
| |||||||
| Bermuda 0.2% | |||||||
30 | Allied World Assurance Co. Holdings Ltd., | 34,488 | ||||||
250 | 7.500%, 08/01/16 | 296,637 | ||||||
400 | Axis Capital Holdings Ltd., Sr. Unsec’d. Notes, | 428,612 | ||||||
65 | Weatherford International Ltd. Bermuda, Gtd. Notes, | 72,362 | ||||||
|
| |||||||
832,099 | ||||||||
|
| |||||||
| Brazil 2.8% | |||||||
BRL | 424 | Brazil Notas do Tesouro Nacional, Notes, Ser. NTNB, | 615,076 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 7 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Brazil (cont’d.) | |||||||
500 | Brazilian Government International Bond, | $ | 595,500 | |||||
1,300 | 5.625%, 01/07/41 | 1,629,550 | ||||||
EUR | 350 | 7.375%, 02/03/15 | 513,820 | |||||
EUR | 2,120 | Unsec’d. Notes, | 3,891,108 | |||||
BRL | 2,850 | Cia Energetica de Sao Paulo, Sr. Unsec’d. Notes, 144A, MTN, | 2,167,691 | |||||
|
| |||||||
9,412,745 | ||||||||
|
| |||||||
| Bulgaria 0.6% | |||||||
EUR | 100 | Bulgaria Government International Bond, | 145,194 | |||||
1,600 | Sr. Unsec’d. Notes, RegS, | 1,794,400 | ||||||
|
| |||||||
1,939,594 | ||||||||
|
| |||||||
| Canada 0.5% | |||||||
25 | Agrium, Inc., Sr. Unsec’d. Notes, | 30,476 | ||||||
CAD | 200 | Canadian Government Bond, Unsec’d. Notes, | 218,087 | |||||
77 | Canadian Pacific Railway Co., Sr. Unsec’d. Notes, | 93,274 | ||||||
CAD | 400 | Province of Alberta Canada, Sr. Unsec’d. Notes, | 401,167 | |||||
CAD | 100 | Province of Ontario Canada, Notes, MTN, | 116,972 | |||||
200 | TransAlta Corp., Sr. Unsec’d. Notes, | 235,625 | ||||||
325 | Videotron Ltee, Gtd. Notes, | 342,062 | ||||||
250 | Xstrata Finance Canada Ltd., Gtd. Notes, 144A, | 256,112 | ||||||
|
| |||||||
1,693,775 | ||||||||
|
|
See Notes to Financial Statements.
8 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Cayman Islands 0.9% | |||||||
250 | Hutchison Whampoa International (09) Ltd., | $ | 321,385 | |||||
300 | IPIC GMTN Ltd., Gtd. Notes, 144A, MTN, | 354,750 | ||||||
120 | MUFG Capital Finance 1 Ltd., Gtd. Notes, | 132,712 | ||||||
900 | Petrobras International Finance Co. - PifCo., Gtd. Notes, | 993,840 | ||||||
245 | Schahin II Finance Co. SPV Ltd., Sr. Sec’d. Notes, 144A, | 257,232 | ||||||
300 | Seagate HDD Cayman, Gtd. Notes, | 325,875 | ||||||
475 | UPCB Finance III Ltd., Sr. Sec’d. Notes, 144A, | 516,563 | ||||||
|
| |||||||
2,902,357 | ||||||||
|
| |||||||
| Chile 0.1% | |||||||
260 | Empresa Nacional de Electricidad SA, Sr. Unsec’d. Notes, | 263,982 | ||||||
| China 1.9% | |||||||
China Government Bond, | ||||||||
CNY | 1,000 | 1.800%, 12/01/15 | 161,545 | |||||
CNY | 15,000 | 2.380%, 07/19/14 | 2,451,015 | |||||
Sr. Unsec’d. Notes, RegS, | ||||||||
CNY | 12,000 | 1.850%, 06/29/15 | 1,941,689 | |||||
Unsec’d. Notes, | ||||||||
CNY | 2,970 | 3.300%, 10/27/14 | 491,602 | |||||
China Government International Bond, | ||||||||
EUR | 280 | 4.250%, 10/28/14 | 388,787 | |||||
989 | 4.750%, 10/29/13 | 1,008,018 | ||||||
|
| |||||||
6,442,656 | ||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 9 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Colombia 0.4% | |||||||
Colombia Government International Bond, | ||||||||
715 | 11.750%, 02/25/20 | $ | 1,138,280 | |||||
COP | 500,000 | 12.000%, 10/22/15 | 327,519 | |||||
|
| |||||||
1,465,799 | ||||||||
|
| |||||||
| Costa Rica 0.1% | |||||||
Costa Rica Government International Bond, | ||||||||
500 | 4.375%, 04/30/25 | 503,500 | ||||||
| Croatia 0.4% | |||||||
Croatia Government International Bond, Sr. Unsec’d. Notes, | ||||||||
EUR | 1,050 | 6.500%, 01/05/15 | 1,483,728 | |||||
| Czech Republic 2.4% | |||||||
Czech Republic Government Bond, Ser. 51, | ||||||||
CZK | 35,000 | 4.000%, 04/11/17 | 2,018,129 | |||||
Czech Republic International, | ||||||||
CHF | 600 | 2.875%, 11/23/16 | 698,860 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, | ||||||||
EUR | 284 | 3.625%, 04/14/21 | 427,311 | |||||
EUR | 3,500 | 4.500%, 11/05/14 | 4,887,638 | |||||
|
| |||||||
8,031,938 | ||||||||
|
| |||||||
| Denmark 0.2% | |||||||
SEK | 5,000 | Denmark Government International Bond, | 785,305 | |||||
| Finland 0.4% | |||||||
EUR | 300 | Finland Government Bond, Sr. Unsec’d. Notes, | 466,358 | |||||
SEK | 5,000 | Finland Government International Bond, Sr. Unsec’d. Notes, Ser. E, MTN, | 793,452 | |||||
|
| |||||||
1,259,810 | ||||||||
|
|
See Notes to Financial Statements.
10 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| France 1.2% | |||||||
EUR | 2,900 | French Treasury Note BTAN, Bonds, | $ | 4,083,060 | ||||
| Germany 0.6% | |||||||
EUR | 200 | RWE AG, Jr. Sub. Notes, | 274,189 | |||||
EUR | 275 | Techem Energy Metering Service GmbH & Co. KG, Gtd. Notes, 144A, MTN, | 392,945 | |||||
EUR | 500 | Techem GmbH, Sr. Sec’d. Notes, 144A, MTN, | 716,421 | |||||
EUR | 450 | Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, | 602,999 | |||||
|
| |||||||
1,986,554 | ||||||||
|
| |||||||
| Greece 1.7% | |||||||
Hellenic Republic Government Bond, | ||||||||
EUR | 5,050 | 2.000%, 02/24/23(c) | 3,539,516 | |||||
EUR | 510 | 2.000%, 02/24/42(c) | 284,173 | |||||
Hellenic Republic Government International Bond, | ||||||||
300 | 4.625%, 06/25/13 | 288,000 | ||||||
Sr. Unsec’d. Notes, Ser. 9BR, | ||||||||
JPY | 150,000 | 5.800%, 07/14/15 | 1,261,733 | |||||
Unsec’d. Notes, | ||||||||
CHF | 300 | 2.125%, 07/05/13 | 309,905 | |||||
|
| |||||||
5,683,327 | ||||||||
|
| |||||||
| Hong Kong 0.1% | |||||||
200 | Hong Kong SAR Government Bond, Unsec’d. Notes, RegS, | 210,659 | ||||||
| Hungary 2.6% | |||||||
Hungary Government International Bond, | ||||||||
EUR | 1,000 | 4.375%, 07/04/17 | 1,330,120 | |||||
GBP | 325 | 5.500%, 05/06/14 | 509,039 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 11 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Hungary (cont’d.) | |||||||
Sr. Unsec’d. Notes, RegS, | ||||||||
EUR | 500 | 5.750%, 06/11/18 | $ | 702,303 | ||||
EUR | 2,500 | 6.000%, 01/11/19 | 3,539,996 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, | ||||||||
CHF | 500 | 4.000%, 05/20/16 | 527,801 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, RegS, | ||||||||
EUR | 1,500 | 6.750%, 07/28/14 | 2,077,753 | |||||
|
| |||||||
8,687,012 | ||||||||
|
| |||||||
| Iceland 0.3% | |||||||
1,000 | Iceland Government International Bond, | 1,065,000 | ||||||
| India 0.3% | |||||||
EUR | 700 | State Bank of India, Sr. Unsec’d. Notes, MTN, RegS, | 972,280 | |||||
| Indonesia 0.8% | |||||||
200 | Indonesia Government International Bond, | 206,500 | ||||||
2,200 | Perusahaan Penerbit SBSN Indonesia, | 2,321,000 | ||||||
130 | PT Adaro Indonesia Tbk, Gtd. Notes, RegS, | 141,856 | ||||||
|
| |||||||
2,669,356 | ||||||||
|
| |||||||
| Ireland 2.2% | |||||||
Ireland Government Bond, | ||||||||
EUR | 2,630 | 4.400%, 06/18/19 | 3,749,471 | |||||
Unsec’d. Notes, | ||||||||
EUR | 1,200 | 4.500%, 04/18/20 | 1,713,500 | |||||
EUR | 400 | Nara Cable Funding Ltd., Sr. Sec’d. Notes, RegS, | 566,289 |
See Notes to Financial Statements.
12 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Ireland (cont’d.) | |||||||
450 | Raspadskaya OJSC Via Raspadskaya Securities Ltd., | $ | 477,562 | |||||
200 | Rosneft Oil Co. via Rosneft International Finance Ltd., | 201,990 | ||||||
300 | Sibur Securities Ltd., Gtd. Notes, 144A, | 294,825 | ||||||
295 | Vimpel Communications Via VIP Finance Ireland Ltd. OJSC, | 337,406 | ||||||
100 | Willis Group Holdings PLC, Gtd. Notes, | 106,010 | ||||||
|
| |||||||
7,447,053 | ||||||||
|
| |||||||
| Israel 1.2% | |||||||
ILS | 500 | Israel Government Bond, Ser. 0115, | 146,252 | |||||
Israel Government International Bond, | ||||||||
Sr. Unsec’d. Notes, | ||||||||
1,000 | 4.500%, 01/30/43 | 1,003,750 | ||||||
800 | 5.125%, 03/26/19 | 942,000 | ||||||
Sr. Unsec’d. Notes, MTN, | ||||||||
EUR | 350 | 4.625%, 03/18/20 | 538,139 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, | ||||||||
EUR | 1,000 | 3.750%, 10/12/15 | 1,403,869 | |||||
|
| |||||||
4,034,010 | ||||||||
|
| |||||||
| Italy 5.2% | |||||||
Italy Buoni Poliennali del Tesoro, | ||||||||
EUR | 3,670 | 4.750%, 05/01/17 | 5,239,730 | |||||
EUR | 3,865 | 6.500%, 11/01/27 | 6,271,589 | |||||
Bonds, 144A | ||||||||
EUR | 600 | 6.000%, 05/01/31 | 934,060 | |||||
Italy Government International Bond, | ||||||||
Sr. Unsec’d. Notes, | ||||||||
JPY | 92,000 | 3.700%, 11/14/16 | 973,159 | |||||
403 | 4.375%, 06/15/13 | 404,612 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 13 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Italy (cont’d.) | |||||||
JPY | 144,000 | 4.500%, 06/08/15 | $ | 1,544,944 | ||||
JPY | 62,000 | 5.500%, 12/15/14 | 668,961 | |||||
Sr. Unsec’d. Notes, RegS, | ||||||||
JPY | 125,000 | 3.450%, 03/24/17 | 1,289,865 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, | ||||||||
CHF | 100 | 2.500%, 03/02/15 | 109,120 | |||||
Sr. Unsec’d. Notes, Ser. E, MTN, RegS, | ||||||||
EUR | 201 | 5.750%, 07/25/16 | 292,501 | |||||
|
| |||||||
17,728,541 | ||||||||
|
| |||||||
| Japan 0.9% | |||||||
Japan Government Twenty Year Bond, | ||||||||
Sr. Unsec’d. Notes, | ||||||||
JPY | 164,000 | 1.900%, 12/20/28 | 1,867,295 | |||||
Ser. 132, | ||||||||
JPY | 50,000 | 1.700%, 12/20/31 | 540,014 | |||||
800 | Nomura Holdings, Inc., Sr. Unsec’d. Notes, MTN, | 804,198 | ||||||
|
| |||||||
3,211,507 | ||||||||
|
| |||||||
| Kazakhstan 0.1% | |||||||
325 | KazMunayGas National Co. JSC, | 327,587 | ||||||
100 | Sr. Unsec’d. Notes, 144A, MTN, | 115,750 | ||||||
|
| |||||||
443,337 | ||||||||
|
| |||||||
| Latvia 0.3% | |||||||
1,000 | Republic of Latvia, Sr. Unsec’d. Notes, RegS, | 1,120,000 | ||||||
| Lithuania 0.4% | |||||||
EUR | 1,000 | Lithuania Government International Bond, | 1,399,260 |
See Notes to Financial Statements.
14 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Luxembourg 1.4% | |||||||
EUR | 500 | Gazprom OAO Via GAZ Capital SA, | $ | 734,463 | ||||
1,000 | Sr. Unsec’d. Notes, RegS, | 1,074,660 | ||||||
EUR | 500 | Luxembourg Government Bond, Sr. Unsec’d. Notes, | 762,277 | |||||
200 | Minerva Luxembourg SA, Gtd. Notes, 144A, | 247,000 | ||||||
750 | Pentair Finance SA, Gtd. Notes, | 757,636 | ||||||
175 | TNK-BP Finance SA, Gtd. Notes, 144A, MTN, | 199,500 | ||||||
315 | VTB Bank OJSC Via VTB Capital SA, | 353,272 | ||||||
EUR | 150 | Wind Acquisition Finance SA, Sec’d. Notes, 144A, | 211,371 | |||||
100 | 11.750%, 07/15/17 | 107,250 | ||||||
EUR | 300 | Sec’d. Notes, RegS, | 422,741 | |||||
|
| |||||||
4,870,170 | ||||||||
|
| |||||||
| Malaysia 0.6% | |||||||
825 | 1Malaysia Sukuk Global Bhd, Sr. Unsec’d. Notes, RegS, | 871,031 | ||||||
MYR | 3,500 | Malaysia Government Bond, Unsec’d. Notes, Ser. 0211, | 1,157,934 | |||||
|
| |||||||
2,028,965 | ||||||||
|
| |||||||
| Mexico 3.2% | |||||||
MXN | 8,000 | Mexican Bonos, Bonds, Ser. M 10, | 723,733 | |||||
EUR | 2,075 | Mexico Government International Bond, | 2,796,890 | |||||
526 | Sr. Unsec’d. Notes, MTN, | 606,478 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 15 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Mexico (cont’d.) | |||||||
EUR | 2,954 | Sr. Unsec’d. Notes, Ser. G, MTN, | $ | 4,341,543 | ||||
GBP | 825 | 6.750%, 02/06/24 | 1,633,462 | |||||
ITL | 250,000 | 11.000%, 05/08/17 | 233,546 | |||||
300 | Petroleos Mexicanos, | 341,250 | ||||||
170 | Gtd. Notes, 144A, | 172,975 | ||||||
|
| |||||||
10,849,877 | ||||||||
|
| |||||||
| Netherlands 0.4% | |||||||
200 | Bharti Airtel International Netherlands BV, Gtd. Notes, 144A, | 205,520 | ||||||
EUR | 155 | Hertz Holdings Netherlands BV, Sr. Sec’d. Notes, RegS, | 215,354 | |||||
200 | Indo Integrated Energy II BV, Sr. Sec’d. Notes, RegS, | 214,000 | ||||||
130 | LUKOIL International Finance BV, Gtd. Notes, 144A, | 157,300 | ||||||
EUR | 131 | NXP BV/NXP Funding LLC, Sr. Sec’d. Notes, Ser. EXCH, | 171,950 | |||||
EUR | 300 | Wolters Kluwer NV, Sr. Unsec’d. Notes, | 484,766 | |||||
|
| |||||||
1,448,890 | ||||||||
|
| |||||||
| New Zealand 0.1% | |||||||
NZD | 200 | New Zealand Government Bond, | 182,896 | |||||
| Panama 1.0% | |||||||
500 | Panama Government International Bond, Sr. Unsec’d. Notes, | 501,250 | ||||||
1,700 | 6.700%, 01/26/36 | 2,365,550 | ||||||
275 | 10.750%, 05/15/20 | 398,750 | ||||||
|
| |||||||
3,265,550 | ||||||||
|
|
See Notes to Financial Statements.
16 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Peru 2.7% | |||||||
500 | Peruvian Government International Bond, | $ | 726,250 | |||||
EUR | 4,003 | Sr. Unsec’d. Notes, RegS, | 5,786,223 | |||||
PEN | 5,800 | 9.910%, 05/05/15 | 2,530,670 | |||||
|
| |||||||
9,043,143 | ||||||||
|
| |||||||
| Philippines 1.8% | |||||||
PHP | 60,000 | Philippine Government International Bond, | 1,559,767 | |||||
EUR | 2,881 | 6.250%, 03/15/16 | 4,270,526 | |||||
250 | 6.500%, 01/20/20 | 316,562 | ||||||
|
| |||||||
6,146,855 | ||||||||
|
| |||||||
| Poland 2.4% | |||||||
PLN | 1,500 | Poland Government Bond, Ser. 1016, | 505,230 | |||||
JPY | 200,000 | Poland Government International Bond, | 2,099,256 | |||||
CHF | 500 | Sr. Unsec’d. Notes, Ser. E, MTN, | 546,300 | |||||
CHF | 3,000 | 2.625%, 05/12/15 | 3,362,982 | |||||
EUR | 500 | 3.625%, 02/01/16 | 709,020 | |||||
EUR | 500 | �� | 5.250%, 01/20/25 | 820,427 | ||||
|
| |||||||
8,043,215 | ||||||||
|
| |||||||
| Portugal 1.8% | |||||||
270 | Portugal Government International Bond, | 267,300 | ||||||
EUR | 1,100 | Portugal Obrigacoes do Tesouro OT, | 1,302,043 | |||||
EUR | 1,445 | 4.100%, 04/15/37 | 1,432,954 | |||||
EUR | 2,010 | 4.750%, 06/14/19 | 2,598,629 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 17 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Portugal (cont’d.) | |||||||
EUR | 350 | Sr. Unsec’d. Notes, RegS, | $ | 433,747 | ||||
|
| |||||||
6,034,673 | ||||||||
|
| |||||||
| Romania 1.1% | |||||||
RON | 1,000 | Romania Government Bond, | 307,875 | |||||
EUR | 1,307 | Romanian Government International Bond, | 1,810,931 | |||||
EUR | 1,000 | 6.500%, 06/18/18 | 1,512,913 | |||||
|
| |||||||
3,631,719 | ||||||||
|
| |||||||
| Russia 1.5% | |||||||
4,098 | Russian Foreign Bond - Eurobond, | 5,154,655 | ||||||
| Serbia 0.2% | |||||||
750 | Republic of Serbia, Bonds, 144A, | 772,500 | ||||||
| Singapore 0.2% | |||||||
400 | Berau Capital Resources Pte Ltd., | 426,000 | ||||||
SGD | 325 | Singapore Government Bond, | 268,264 | |||||
|
| |||||||
694,264 | ||||||||
|
| |||||||
| Slovak Republic 0.3% | |||||||
1,000 | Slovakia Government International Bond, | 1,096,460 |
See Notes to Financial Statements.
18 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| South Africa 2.2% | |||||||
ZAR | 6,745 | South Africa Government Bond, | $ | 729,191 | ||||
ZAR | 31,555 | Ser. R214, | 3,057,886 | |||||
EUR | 554 | South Africa Government International Bond, | 730,320 | |||||
EUR | 2,047 | Unsec’d. Notes, Ser. E, MTN, | 2,939,767 | |||||
|
| |||||||
7,457,164 | ||||||||
|
| |||||||
| South Korea 0.5% | |||||||
270 | Korea Hydro & Nuclear Power Co. Ltd., | 304,613 | ||||||
EUR | 880 | Republic of Korea, Sr. Unsec’d. Notes, | 1,231,697 | |||||
|
| |||||||
1,536,310 | ||||||||
|
| |||||||
| Spain 5.2% | |||||||
EUR | 600 | Autonomous Community of Andalusia Spain, | 791,419 | |||||
CHF | 600 | Autonomous Community of Madrid Spain, | 643,299 | |||||
EUR | 500 | 4.051%, 06/12/13 | 659,134 | |||||
EUR | 950 | Spain Government Bond, | 1,281,255 | |||||
EUR | 2,900 | Sr. Unsec’d. Notes, | 3,925,711 | |||||
EUR | 1,850 | 3.400%, 04/30/14 | 2,490,689 | |||||
EUR | 100 | 4.250%, 10/31/16 | 139,054 | |||||
EUR | 1,120 | Sr. Unsub. Notes, | 1,463,450 | |||||
EUR | 3,505 | 5.850%, 01/31/22 | 5,245,891 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 19 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Spain (cont’d.) | |||||||
500 | Spain Government International Bond, | $ | 511,000 | |||||
480 | Sr. Unsec’d. Notes, Ser. E, MTN, | 481,106 | ||||||
|
| |||||||
17,632,008 | ||||||||
|
| |||||||
| Supranational 0.7% | |||||||
NOK | 5,000 | European Investment Bank, | 935,455 | |||||
SEK | 9,000 | 4.500%, 08/12/17 | 1,547,416 | |||||
|
| |||||||
2,482,871 | ||||||||
|
| |||||||
| Sweden 0.4% | |||||||
1,250 | Nordea Bank AB, Sr. Unsec’d. Notes, 144A, | 1,334,625 | ||||||
| Thailand 0.4% | |||||||
600 | Bangkok Bank PCL, Sr. Unsec’d. Notes, 144A, | 621,528 | ||||||
THB | 21,000 | Thailand Government Bond, Sr. Unsec’d. Notes, | 732,092 | |||||
|
| |||||||
1,353,620 | ||||||||
|
| |||||||
| Turkey 2.6% | |||||||
200 | Export Credit Bank of Turkey, Sr. Unsec’d. Notes, 144A, | 217,000 | ||||||
TRY | 7,000 | Turkey Government Bond, Ser. 5Y, | 3,978,804 | |||||
EUR | 1,148 | Turkey Government International Bond, | 1,694,341 | |||||
EUR | 247 | 5.875%, 04/02/19 | 382,830 | |||||
EUR | 1,439 | 6.500%, 02/10/14 | 1,972,411 | |||||
450 | Unsec’d. Notes, | 462,375 | ||||||
|
| |||||||
8,707,761 | ||||||||
|
|
See Notes to Financial Statements.
20 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| United Arab Emirates 0.2% | |||||||
268 | Dolphin Energy Ltd., Sr. Sec’d. Notes, 144A, | $ | 304,732 | |||||
200 | Dubai Electricity & Water Authority, | 224,500 | ||||||
|
| |||||||
529,232 | ||||||||
|
| |||||||
| United Kingdom 1.4% | |||||||
450 | Barclays Bank PLC, Sr. Unsec’d. Notes, | 563,463 | ||||||
125 | BP Capital Markets PLC, Gtd. Notes, | 144,884 | ||||||
150 | HSBC Holdings PLC, | 175,450 | ||||||
85 | 5.100%, 04/05/21 | 100,826 | ||||||
125 | Sub. Notes, | 158,240 | ||||||
525 | 6.800%, 06/01/38 | 694,659 | ||||||
EUR | 200 | Imperial Tobacco Finance PLC, Gtd. Notes, Ser. E, MTN, | 315,267 | |||||
575 | Lloyds TSB Bank PLC, | 636,031 | ||||||
500 | 6.375%, 01/21/21 | 626,210 | ||||||
245 | Gtd. Notes, 144A, MTN, | 293,291 | ||||||
150 | Royal Bank of Scotland Group PLC, Sr. Unsec’d. Notes, MTN, | 180,674 | ||||||
325 | Royal Bank of Scotland PLC (The), Gtd. Notes, | 396,381 | ||||||
400 | Sasol Financing International PLC, Gtd. Notes, | 410,600 | ||||||
|
| |||||||
4,695,976 | ||||||||
|
| |||||||
| Uruguay 0.3% | |||||||
700 | Uruguay Government International Bond, | 681,100 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 21 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| FOREIGN BONDS (Continued) | |||||||
| Uruguay (cont’d.) | |||||||
EUR | 103 | 6.875%, 01/19/16 | $ | 154,297 | ||||
EUR | 119 | 7.000%, 06/28/19 | 193,154 | |||||
|
| |||||||
1,028,551 | ||||||||
|
| |||||||
Total foreign bonds | 219,088,645 | |||||||
|
| |||||||
| ASSET-BACKED SECURITIES 7.6% | |||||||
| Collateralized Loan Obligations, Debt Obligations and Other Asset Backed Securities 1.8% |
| ||||||
366 | AIMCO CDO (Cayman Islands), | 358,425 | ||||||
500 | Apidos CDO (Cayman Islands), | 500,741 | ||||||
500 | ARES CLO Ltd. (Cayman Islands), | 500,075 | ||||||
177 | ARES Enhanced Loan Investment Strategy Ltd. | 173,830 | ||||||
EUR | 766 | Avoca CLO I BV (Ireland), | 994,634 | |||||
261 | BlackRock Senior Income Series Corp. (Cayman Islands), | 260,145 | ||||||
427 | Four Corners CLO (Cayman Islands), | 423,447 | ||||||
EUR | 500 | Highlander Euro CDO Cayman Ltd. (Netherlands), | 622,045 | |||||
304 | Katonah Ltd. (Cayman Islands), | 302,652 | ||||||
262 | LightPoint CLO Ltd. (Cayman Islands), | 259,136 |
See Notes to Financial Statements.
22 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| ASSET-BACKED SECURITIES (Continued) | |||||||
| Collateralized Loan Obligations, Debt Obligations and Other Asset Backed Securities (cont’d.) |
| ||||||
EUR | 223 | LightPoint Pan-European CLO PLC (Ireland), | $ | 286,869 | ||||
248 | Mountain Capital CLO Ltd. (Cayman Islands), | 246,469 | ||||||
EUR | 256 | North Westerly CLO BV (Netherlands), | 327,280 | |||||
97 | Rosedale CLO Ltd. (Cayman Islands), | 95,672 | ||||||
250 | Shackleton CLO Ltd. (Cayman Islands), | 250,218 | ||||||
250 | Slater Mill Loan Fund LP (Cayman Islands), | 251,497 | ||||||
374 | Trimaran CLO Ltd. (Cayman Islands), | 370,811 | ||||||
|
| |||||||
6,223,946 | ||||||||
|
| |||||||
| Residential Mortgage-Backed Securities 5.8% | |||||||
301 | ACE Securities Corp., | 281,998 | ||||||
1,000 | Ser. 2005-HE2, Class M4, | 891,911 | ||||||
449 | Aegis Asset Backed Securities Trust, | 443,756 | ||||||
789 | Ameriquest Mortgage Securities, Inc., | 746,117 | ||||||
400 | Ser. 2004-R8, Class M1, | 388,815 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 23 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| ASSET-BACKED SECURITIES (Continued) | |||||||
| Residential Mortgage-Backed Securities (cont’d.) | |||||||
281 | Argent Securities, Inc., | $ | 275,348 | |||||
1,452 | Ser. 2005-W2, Class A2C, | 1,295,354 | ||||||
1,383 | Asset Backed Securities Corp. Home Equity Loan Trust, | 1,336,887 | ||||||
354 | Bear Stearns Asset Backed Securities Trust, | 325,415 | ||||||
247 | Ser. 2004-HE3, Class M2, | 229,265 | ||||||
214 | Chase Funding Loan Acquisition Trust, | 213,476 | ||||||
679 | Citicorp Residential Mortgage Trust, | 690,241 | ||||||
100 | Citigroup Mortgage Loan Trust, Inc., | 100,068 | ||||||
198 | Countrywide Asset-Backed Certificates, | 193,260 | ||||||
982 | Finance America Mortgage Loan Trust, | 912,520 | ||||||
421 | Fremont Home Loan Trust, | 379,092 | ||||||
910 | Ser. 2004-B, Class M1, | 829,347 | ||||||
239 | GSAMP Trust, | 234,646 | ||||||
1,000 | Ser. 2005-HE5, Class M1, | 949,698 |
See Notes to Financial Statements.
24 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| ASSET-BACKED SECURITIES (Continued) | |||||||
| Residential Mortgage-Backed Securities (cont’d.) | |||||||
616 | Home Equity Asset Trust, | $ | 569,291 | |||||
1,000 | Ser. 2005-9, Class 2A4, | 936,929 | ||||||
400 | HSBC Home Equity Loan Trust, | 374,915 | ||||||
600 | Long Beach Mortgage Loan Trust, | 570,085 | ||||||
375 | Mastr Asset Backed Securities Trust, | 350,987 | ||||||
261 | Merrill Lynch Mortgage Investors, Inc., | 230,423 | ||||||
340 | Morgan Stanley ABS Capital I, | 323,998 | ||||||
409 | Ser. 2004-NC1, Class M1, | 398,180 | ||||||
437 | Ser. 2004-OP1, Class M1, | 403,733 | ||||||
654 | Ser. 2004-WMC1, Class M1, | 636,062 | ||||||
254 | Ser. 2004-WMC2, Class M1, | 244,853 | ||||||
383 | Morgan Stanley Dean Witter Capital I, | 366,406 | ||||||
418 | New Century Home Equity Loan Trust, | 408,299 | ||||||
907 | Ser. 2005-C, Class A2C, | 836,908 | ||||||
356 | Option One Mortgage Loan Trust, | 332,601 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 25 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| ASSET-BACKED SECURITIES (Continued) | |||||||
| Residential Mortgage-Backed Securities (cont’d.) | |||||||
230 | Popular ABS Mortgage Pass-Through Trust, | $ | 216,097 | |||||
106 | Structured Asset Investment Loan Trust, | 100,779 | ||||||
376 | Ser. 2004-8, Class A8, | 373,250 | ||||||
530 | Structured Asset Securities Corp. Mortgage Loan Trust, | 492,604 | ||||||
690 | Wells Fargo Mortgage Backed Securities Trust, | 735,687 | ||||||
|
| |||||||
19,619,301 | ||||||||
|
| |||||||
Total asset-backed securities | 25,843,247 | |||||||
|
| |||||||
| BANK LOANS(a) 2.0% | |||||||
| Aerospace & Defense | |||||||
97 | Booz Allen & Hamilton, Inc., | 97,683 | ||||||
| Automotive 0.1% | |||||||
197 | Chrysler LLC, | 199,283 | ||||||
| Cable 0.2% | |||||||
478 | Cequel Communications Holdings LLC, | 479,828 | ||||||
54 | Kabel Deutschland Vertrieb und Service GmbH (Germany), | 53,761 | ||||||
|
| |||||||
533,589 | ||||||||
|
| |||||||
| Chemicals | |||||||
174 | Rockwood Holdings, Inc., | 174,890 |
See Notes to Financial Statements.
26 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| BANK LOANS(a) (Continued) | |||||||
| Electric | |||||||
87 | Calpine Corp., | $ | 88,294 | |||||
87 | 4.000%, 04/01/18 | 88,293 | ||||||
|
| |||||||
176,587 | ||||||||
|
| |||||||
| Foods | |||||||
143 | Del Monte Foods Co., | 144,411 | ||||||
| Gaming 0.1% | |||||||
129 | CCM Merger, Inc., | 130,410 | ||||||
247 | Scientific Games Corp., | 247,404 | ||||||
|
| |||||||
377,814 | ||||||||
|
| |||||||
| Healthcare & Pharmaceutical 0.8% | |||||||
103 | Alere, Inc., | 102,646 | ||||||
37 | 3.533%, 06/30/17 | 37,183 | ||||||
100 | 3.534%, 06/30/17 | 101,141 | ||||||
466 | Community Health Systems, Inc., | 470,250 | ||||||
222 | DaVita, Inc., | 224,605 | ||||||
56 | HCA, Inc., | 55,821 | ||||||
134 | 3.530%, 03/31/17 | 133,756 | ||||||
472 | Hologic, Inc., | 472,491 | ||||||
441 | RPI Finance Trust, | 444,182 | ||||||
151 | 4.000%, 11/09/18 | 151,934 | ||||||
370 | Universal Health Services, Inc., | 370,775 | ||||||
|
| |||||||
2,564,784 | ||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 27 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| BANK LOANS(a) (Continued) | |||||||
| Pipelines & Other | |||||||
101 | Energy Transfer Equity LP, | $ | 101,630 | |||||
| Retailers 0.2% | |||||||
GBP | 400 | Alliance Boots Ltd. (United Kingdom), | 613,573 | |||||
| Technology 0.5% | |||||||
18 | First Data Corp., | 18,032 | ||||||
237 | 4.200%, 03/26/18 | 236,173 | ||||||
300 | 4.278%, 09/24/18 | 299,250 | ||||||
34 | Flextronics International Ltd. (Singapore), | 33,972 | ||||||
300 | Freescale Semiconductor, Inc., | 303,375 | ||||||
424 | NXP BV (Netherlands), | 433,829 | ||||||
138 | Sensata Technologies BV (Netherlands), | 139,903 | ||||||
122 | SunGard Data Systems, Inc., | 123,030 | ||||||
|
| |||||||
1,587,564 | ||||||||
|
| |||||||
| Telecommunications 0.1% | |||||||
288 | Fibertech Networks LLC, | 292,353 | ||||||
|
| |||||||
Total bank loans | 6,864,161 | |||||||
|
| |||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES 1.0% | |||||||
99 | Credit Suisse Mortgage Capital Certificates, | 98,825 | ||||||
400 | CW Capital Cobalt Ltd., | 424,602 | ||||||
398 | Greenwich Capital Commercial Funding Corp., | 410,167 |
See Notes to Financial Statements.
28 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued) | |||||||
195 | GS Mortgage Securities Corp. II, | $ | 197,286 | |||||
254 | JPMorgan Chase Commercial Mortgage Securities Corp., | 260,624 | ||||||
956 | LB-UBS Commercial Mortgage Trust, | 960,102 | ||||||
740 | Morgan Stanley Capital I, Inc., | 763,608 | ||||||
364 | Wachovia Bank Commercial Mortgage Trust, | 364,942 | ||||||
|
| |||||||
Total commercial mortgage-backed securities | 3,480,156 | |||||||
|
| |||||||
| CORPORATE BONDS 20.1% | |||||||
| Aerospace & Defense 0.2% | |||||||
350 | B/E Aerospace, Inc., Sr. Unsec’d. Notes, | 372,750 | ||||||
100 | Textron, Inc., | 113,199 | ||||||
200 | 7.250%, 10/01/19 | 243,010 | ||||||
|
| |||||||
728,959 | ||||||||
|
| |||||||
| Airlines 0.2% | |||||||
92 | Continental Airlines, Inc., Pass-thru Certs., Ser. A, | 101,320 | ||||||
206 | Delta Air Lines, Inc., Pass-thru Certs., | 239,697 | ||||||
22 | Ser. 2A, | 23,852 | ||||||
213 | Ser. A, | 236,425 | ||||||
111 | United Airlines, Inc., Pass-thru Certs., Ser. 071A, | 121,004 | ||||||
|
| |||||||
722,298 | ||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 29 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Automotive 0.4% | |||||||
50 | BorgWarner, Inc., Sr. Unsec’d. Notes, | $ | 55,595 | |||||
350 | Delphi Corp., Gtd. Notes, | 379,313 | ||||||
460 | Ford Motor Credit Co. LLC, | 491,285 | ||||||
225 | 5.625%, 09/15/15 | 245,555 | ||||||
100 | Harley-Davidson Financial Services, Inc., | 103,505 | ||||||
75 | Harley-Davidson Funding Corp., Gtd. Notes, 144A, MTN, | 80,772 | ||||||
|
| |||||||
1,356,025 | ||||||||
|
| |||||||
| Banking 5.5% | |||||||
506 | American Express Co., Sr. Unsec’d. Notes, | 507,060 | ||||||
750 | American Express Credit Corp., Sr. Unsec’d. Notes, MTN, | 795,547 | ||||||
235 | Bank of America Corp., | 266,966 | ||||||
225 | Sr. Unsec’d. Notes, | 268,177 | ||||||
540 | Sr. Unsec’d. Notes, MTN, | 617,988 | ||||||
700 | 5.875%, 02/07/42 | 875,243 | ||||||
120 | Sr. Unsec’d. Notes, Ser. 1, | 127,655 | ||||||
400 | Sub. Notes, | 404,543 | ||||||
200 | Bear Stearns Cos., Inc. (The), Sr. Unsec’d. Notes, | 249,058 | ||||||
420 | Capital One Bank USA NA, Sub. Notes, | 427,359 | ||||||
115 | Capital One Financial Corp., Sub. Notes, | 131,856 |
See Notes to Financial Statements.
30 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Banking (cont’d.) | |||||||
425 | Citigroup, Inc., | $ | 479,888 | |||||
385 | 6.125%, 05/15/18 | 463,382 | ||||||
110 | 8.125%, 07/15/39 | 167,495 | ||||||
605 | 8.500%, 05/22/19 | 813,853 | ||||||
300 | Sub. Notes, | 336,459 | ||||||
1,200 | Goldman Sachs Group, Inc. (The), | 1,391,353 | ||||||
205 | 6.250%, 02/01/41 | 255,741 | ||||||
1,300 | Sr. Unsec’d. Notes, MTN, | 1,639,281 | ||||||
185 | Sub. Notes, | 212,246 | ||||||
225 | HSBC USA, Inc., Sr. Unsec’d. Notes, | 231,803 | ||||||
450 | JPMorgan Chase & Co., | 524,096 | ||||||
800 | Sr. Unsec’d. Notes, | 850,518 | ||||||
30 | 4.250%, 10/15/20 | 33,602 | ||||||
830 | 4.350%, 08/15/21 | 931,995 | ||||||
500 | 5.600%, 07/15/41 | 612,922 | ||||||
150 | 6.000%, 01/15/18 | 178,803 | ||||||
90 | KeyCorp, Sr. Unsec’d. Notes, MTN, | 106,274 | ||||||
325 | Morgan Stanley, | 412,101 | ||||||
1,970 | Sr. Unsec’d. Notes, MTN, | 2,294,944 | ||||||
345 | Santander Holdings USA, Inc., | 357,019 | ||||||
50 | 4.625%, 04/19/16 | 53,680 | ||||||
245 | State Street Corp., Jr. Sub. Debs., | 278,515 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 31 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Banking (cont’d.) | |||||||
340 | US Bancorp, Jr. Sub. Notes, | $ | 361,960 | |||||
370 | Wachovia Bank NA, Sub. Notes, | 395,856 | ||||||
425 | Wells Fargo & Co., | 459,433 | ||||||
120 | Sr. Unsec’d. Notes, MTN, | 128,729 | ||||||
130 | 4.600%, 04/01/21 | 150,342 | ||||||
|
| |||||||
18,793,742 | ||||||||
|
| |||||||
| Brokerage 0.1% | |||||||
450 | Jefferies Group, Inc., Sr. Unsec’d. Notes, | 488,314 | ||||||
100 | Lehman Brothers Holdings, Inc., Sr. Unsec’d. Notes, | 24,125 | ||||||
|
| |||||||
512,439 | ||||||||
|
| |||||||
| Building Materials & Construction 0.4% | |||||||
250 | Cemex Finance LLC, Sr. Sec’d. Notes, RegS, | 268,750 | ||||||
110 | CRH America, Inc., Gtd. Notes, | 136,781 | ||||||
260 | Masco Corp., Sr. Unsec’d. Notes, | 264,092 | ||||||
270 | Owens Corning, Gtd. Notes, | 284,866 | ||||||
420 | Toll Brothers Finance Corp., Gtd. Notes, | 444,839 | ||||||
|
| |||||||
1,399,328 | ||||||||
|
| |||||||
| Cable 1.1% | |||||||
250 | Cequel Communications Holdings I LLC and Cequel Capital Corp., Sr. Unsec’d. Notes, 144A, | 267,813 |
See Notes to Financial Statements.
32 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Cable (cont’d.) | |||||||
325 | CSC Holdings LLC, | $ | 371,313 | |||||
185 | 8.625%, 02/15/19 | 225,237 | ||||||
125 | DIRECTV Holdings LLC/DIRECTV Financing Co., Inc., | 133,120 | ||||||
225 | 3.550%, 03/15/15 | 235,578 | ||||||
65 | 4.750%, 10/01/14 | 68,537 | ||||||
900 | DISH DBS Corp., Gtd. Notes, | 956,250 | ||||||
GBP | 500 | Lynx I Corp., Sr. Sec’d. Notes, 144A, | 819,392 | |||||
195 | Time Warner Cable, Inc., Gtd. Notes, | 242,168 | ||||||
300 | 8.750%, 02/14/19 | 401,120 | ||||||
|
| |||||||
3,720,528 | ||||||||
|
| |||||||
| Capital Goods 1.4% | |||||||
200 | ABB Finance USA, Inc., Gtd. Notes, | 206,428 | ||||||
400 | Actuant Corp., Gtd. Notes, | 417,000 | ||||||
300 | Case New Holland, Inc., Gtd. Notes, | 305,625 | ||||||
145 | Caterpillar Financial Services Corp., Sr. Unsec’d. Notes, MTN, | 172,552 | ||||||
250 | ERAC USA Finance Co., | 300,741 | ||||||
190 | 7.000%, 10/15/37, | 250,367 | ||||||
Penske Truck Leasing Co. LP/PTL Finance Corp., | ||||||||
1,000 | (original cost $998,520; purchased 09/24/12)(d)(e) | 1,034,854 | ||||||
125 | (original cost $124,879; purchased 05/08/12)(d)(e) | 129,969 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 33 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Capital Goods (cont’d.) | |||||||
750 | United Rentals North America, Inc., Gtd. Notes, | $ | 860,625 | |||||
675 | United Technologies Corp., Sr. Unsec’d. Notes, | 746,051 | ||||||
225 | Xylem, Inc., Sr. Unsec’d. Notes, | 257,139 | ||||||
|
| |||||||
4,681,351 | ||||||||
|
| |||||||
| Chemicals 0.4% | |||||||
300 | Ashland, Inc., | 313,500 | ||||||
175 | Sr. Unsec’d. Notes, 144A, | 180,250 | ||||||
152 | Dow Chemical Co. (The), Sr. Unsec’d. Notes, | 250,962 | ||||||
400 | Reliance Holdings USA, Inc., Gtd. Notes, 144A, | 450,840 | ||||||
|
| |||||||
1,195,552 | ||||||||
|
| |||||||
| Consumer 0.1% | |||||||
250 | Service Corp. International, Sr. Unsec’d. Notes, | 287,500 | ||||||
| Electric 0.3% | |||||||
250 | AES Corp. (The), | 299,375 | ||||||
250 | 9.750%, 04/15/16 | 302,500 | ||||||
350 | Duke Energy Corp., Sr. Unsec’d. Notes, | 364,695 | ||||||
105 | Oncor Electric Delivery Co. LLC, Sr. Sec’d. Notes, | 131,688 | ||||||
50 | Public Service Co. of New Mexico, Sr. Unsec’d. Notes, | 62,495 | ||||||
|
| |||||||
1,160,753 | ||||||||
|
|
See Notes to Financial Statements.
34 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Energy—Other 0.2% | |||||||
175 | Anadarko Petroleum Corp., | $ | 209,466 | |||||
35 | 6.450%, 09/15/36 | 44,731 | ||||||
170 | Nabors Industries, Inc., Gtd. Notes, | 179,030 | ||||||
200 | Pioneer Natural Resources Co., Sr. Unsec’d. Notes, | 244,016 | ||||||
|
| |||||||
677,243 | ||||||||
|
| |||||||
| Foods 1.1% | |||||||
225 | Anheuser-Busch InBev Worldwide, Inc., Gtd. Notes, | 363,949 | ||||||
475 | ARAMARK Corp., Gtd. Notes, 144A, | 497,562 | ||||||
250 | ConAgra Foods, Inc., Sr. Unsec’d. Notes, | 313,280 | ||||||
800 | Cott Beverages, Inc., Gtd. Notes, | 878,000 | ||||||
200 | Darling International, Inc., Gtd. Notes, | 227,000 | ||||||
150 | HJ Heinz Co., | 151,219 | ||||||
100 | 2.850%, 03/01/22 | 101,125 | ||||||
60 | 3.125%, 09/12/21 | 60,675 | ||||||
300 | Ingles Markets, Inc., Sr. Unsec’d. Notes, | 314,625 | ||||||
JBS USA LLC/JBS USA Finance, Inc., | ||||||||
190 | (original cost $175,275; purchased 12/08/11)(d)(e) | 201,400 | ||||||
75 | Kraft Foods Group, Inc., Sr. Unsec’d. Notes, | 103,385 | ||||||
350 | Stater Bros. Holdings, Inc., Gtd. Notes, | 350,000 | ||||||
90 | Tyson Foods, Inc., Gtd. Notes, | 102,892 | ||||||
|
| |||||||
3,665,112 | ||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 35 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Gaming 0.3% | |||||||
205 | Ameristar Casinos, Inc., Gtd. Notes, | $ | 228,575 | |||||
200 | Marina District Finance Co., Inc., Sr. Sec’d. Notes, | 213,060 | ||||||
400 | Pinnacle Entertainment, Inc., Gtd. Notes, | 423,000 | ||||||
Yonkers Racing Corp., Sec’d. Notes, 144A, | ||||||||
250 | (original cost $263,750; purchased 06/28/12)(d)(e) | 268,125 | ||||||
|
| |||||||
1,132,760 | ||||||||
|
| |||||||
| Healthcare & Pharmaceutical 1.1% | |||||||
710 | AbbVie, Inc., Sr. Unsec’d. Notes, 144A, | 749,781 | ||||||
280 | Amgen, Inc., | 320,950 | ||||||
45 | 5.375%, 05/15/43 | 53,710 | ||||||
50 | Becton Dickinson and Co., Sr. Unsec’d. Notes, | 58,279 | ||||||
125 | Gilead Sciences, Inc., Sr. Unsec’d. Notes, | 156,353 | ||||||
250 | HCA, Inc., | 297,187 | ||||||
Sr. Unsec’d. Notes, | ||||||||
400 | 7.190%, 11/15/15 | 444,000 | ||||||
35 | Sr. Unsec’d. Notes, MTN, | 38,894 | ||||||
170 | Mylan, Inc., Gtd. Notes, 144A, | 188,901 | ||||||
500 | Valeant Pharmaceuticals International, Gtd. Notes, 144A, | 520,937 | ||||||
200 | Watson Pharmaceuticals, Inc., Sr. Unsec’d. Notes, | 209,933 | ||||||
70 | Wyeth, Gtd. Notes, | 94,687 | ||||||
415 | Zoetis, Inc., Sr. Unsec’d. Notes, 144A, | 426,107 | ||||||
|
| |||||||
3,559,719 | ||||||||
|
|
See Notes to Financial Statements.
36 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Healthcare Insurance 0.4% | |||||||
225 | Cigna Corp., | $ | 265,089 | |||||
140 | 5.875%, 03/15/41 | 172,916 | ||||||
360 | Coventry Health Care, Inc., Sr. Unsec’d. Notes, | 388,398 | ||||||
235 | UnitedHealth Group, Inc., Sr. Unsec’d. Notes, | 315,918 | ||||||
95 | WellPoint, Inc., Sr. Unsec’d. Notes, | 100,876 | ||||||
|
| |||||||
1,243,197 | ||||||||
|
| |||||||
Insurance 0.8% | ||||||||
300 | American International Group, Inc., | 333,973 | ||||||
75 | 6.400%, 12/15/20 | 93,840 | ||||||
100 | 8.250%, 08/15/18 | 129,679 | ||||||
300 | Sr. Unsec’d. Notes, MTN, | 351,907 | ||||||
140 | Chubb Corp. (The), Jr. Sub. Notes, | 155,750 | ||||||
175 | Hartford Financial Services Group, Inc., Sr. Unsec’d. Notes, | 207,392 | ||||||
90 | Liberty Mutual Group, Inc., Sr. Unsec’d. Notes, 144A, | 103,852 | ||||||
30 | Lincoln National Corp., | 30,375 | ||||||
80 | Sr. Unsec’d. Notes, | 102,162 | ||||||
200 | 8.750%, 07/01/19 | 272,487 | ||||||
100 | MetLife, Inc., Sr. Unsec’d. Notes, | 131,405 | ||||||
50 | Northwestern Mutual Life Insurance, Sub. Notes, 144A, | 64,429 | ||||||
100 | Progressive Corp. (The), Jr. Sub. Notes, | 111,250 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 37 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Insurance (cont’d.) | |||||||
210 | Teachers Insurance & Annuity Association of America, | $ | 290,540 | |||||
245 | Unum Group, Sr. Unsec’d. Notes, | 288,310 | ||||||
|
| |||||||
2,667,351 | ||||||||
|
| |||||||
| Lodging 0.1% | |||||||
185 | Felcor Lodging LP, Sr. Sec’d. Notes, | 205,581 | ||||||
125 | Marriott International, Inc., Sr. Unsec’d. Notes, | 131,513 | ||||||
|
| |||||||
337,094 | ||||||||
|
| |||||||
| Media & Entertainment 1.2% | |||||||
250 | Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp., Gtd. Notes, | 280,156 | ||||||
225 | Historic TW, Inc., Gtd. Notes, | 287,213 | ||||||
500 | Liberty Interactive LLC, Sr. Unsec’d. Notes, | 560,000 | ||||||
100 | NBCUniversal Media LLC, Gtd. Notes, | 115,359 | ||||||
415 | News America, Inc., | 510,113 | ||||||
120 | 6.150%, 02/15/41 | 150,720 | ||||||
60 | 6.900%, 08/15/39 | 78,677 | ||||||
450 | Nielsen Finance LLC/Nielsen Finance Co., Gtd. Notes, | 484,312 | ||||||
600 | R.R. Donnelley & Sons Co., | 617,250 | ||||||
450 | 8.600%, 08/15/16 | 522,000 | ||||||
200 | SSI Investments II/SSI Co.-Issuer LLC, Gtd. Notes, | 221,500 | ||||||
55 | Viacom, Inc., | 57,697 |
See Notes to Financial Statements.
38 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Media & Entertainment (cont’d.) | |||||||
233 | 4.500%, 02/27/42 | $ | 227,396 | |||||
|
| |||||||
4,112,393 | ||||||||
|
| |||||||
| Metals 0.3% | |||||||
525 | Barrick North America Finance LLC, | 527,096 | ||||||
100 | Newmont Mining Corp., Gtd. Notes, | 111,095 | ||||||
400 | Peabody Energy Corp., Gtd. Notes, | 432,000 | ||||||
|
| |||||||
1,070,191 | ||||||||
|
| |||||||
| Non-Captive Finance 0.8% | |||||||
165 | General Electric Capital Corp., | 188,793 | ||||||
585 | 5.875%, 01/14/38(g) | 708,912 | ||||||
100 | Sub. Notes, | 116,174 | ||||||
200 | International Lease Finance Corp., | 214,000 | ||||||
75 | Sr. Unsec’d. Notes, | 81,576 | ||||||
125 | 6.250%, 05/15/19 | 140,157 | ||||||
55 | SLM Corp., | 59,812 | ||||||
510 | Sr. Unsec’d. Notes, MTN, | 533,737 | ||||||
75 | 6.000%, 01/25/17 | 81,188 | ||||||
225 | 8.450%, 06/15/18 | 264,211 | ||||||
390 | Sr. Unsec’d. Notes, Ser. A, MTN, | 412,446 | ||||||
|
| |||||||
2,801,006 | ||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 39 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Packaging 0.2% | |||||||
140 | Greif, Inc., Sr. Unsec’d. Notes, | $ | 164,150 | |||||
400 | Owens-Brockway Glass Container, Inc., Gtd. Notes, | 458,000 | ||||||
|
| |||||||
622,150 | ||||||||
|
| |||||||
| Paper 0.4% | |||||||
130 | International Paper Co., | 158,224 | ||||||
75 | 7.300%, 11/15/39 | 102,795 | ||||||
200 | 7.950%, 06/15/18 | 257,844 | ||||||
450 | MeadWestvaco Corp., Sr. Unsec’d. Notes, | 550,238 | ||||||
175 | Rock-Tenn Co., Gtd. Notes, | 192,119 | ||||||
|
| |||||||
1,261,220 | ||||||||
|
| |||||||
| Pipelines & Other 0.5% | |||||||
200 | CenterPoint Energy Resources Corp., Sr. Unsec’d. Notes, | 273,681 | ||||||
85 | Energy Transfer Partners LP, | 94,189 | ||||||
420 | 5.150%, 02/01/43 | 438,062 | ||||||
170 | Kinder Morgan Energy Partners LP, Sr. Unsec’d. Notes, | 224,374 | ||||||
75 | Northwest Pipeline GP, Sr. Unsec’d. Notes, | 90,806 | ||||||
600 | Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. Notes, | 667,500 | ||||||
|
| |||||||
1,788,612 | ||||||||
|
| |||||||
| Railroads 0.1% | |||||||
300 | Norfolk Southern Corp., Sr. Unsec’d. Notes, | 377,714 |
See Notes to Financial Statements.
40 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Real Estate Investment Trusts 0.2% | |||||||
250 | Hospitality Properties Trust, Sr. Unsec’d. Notes, | $ | 262,638 | |||||
45 | Simon Property Group LP, | 47,585 | ||||||
95 | 4.200%, 02/01/15 | 100,021 | ||||||
40 | 6.125%, 05/30/18 | 49,055 | ||||||
200 | WEA Finance LLC/WT Finance Aust Pty Ltd., | 221,528 | ||||||
|
| |||||||
680,827 | ||||||||
|
| |||||||
| Retailers 0.4% | |||||||
200 | CVS Caremark Corp., Sr. Unsec’d. Notes, | 254,171 | ||||||
75 | Macy’s Retail Holdings, Inc., Gtd. Notes, | 80,300 | ||||||
350 | QVC, Inc., Sr. Sec’d. Notes, 144A, | 385,899 | ||||||
450 | Susser Holdings LLC/Susser Finance Corp., Gtd. Notes, | 471,094 | ||||||
|
| |||||||
1,191,464 | ||||||||
|
| |||||||
| Technology 1.0% | |||||||
250 | Amphenol Corp., Sr. Unsec’d. Notes, | 264,107 | ||||||
190 | Arrow Electronics, Inc., | 194,481 | ||||||
50 | 3.375%, 11/01/15 | 51,899 | ||||||
650 | Ceridian Corp., Gtd. Notes, | 673,563 | ||||||
CommScope, Inc., Gtd. Notes, 144A, | ||||||||
400 | (original cost $391,250; purchased 09/29/11)(d)(e) | 437,000 | ||||||
50 | Fiserv, Inc., | 52,438 | ||||||
45 | 3.125%, 06/15/16 | 47,418 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 41 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| CORPORATE BONDS (Continued) | |||||||
| Technology (cont’d.) | |||||||
655 | Jabil Circuit, Inc., Sr. Unsec’d. Notes, | $ | 664,825 | |||||
150 | SunGard Data Systems, Inc., Gtd. Notes, | 165,750 | ||||||
400 | TransUnion LLC/TransUnion Financing Corp., Gtd. Notes, | 458,000 | ||||||
225 | Xerox Corp., Sr. Unsec’d. Notes, | 237,310 | ||||||
|
| |||||||
3,246,791 | ||||||||
|
| |||||||
| Telecommunications 0.6% |
| ||||||
375 | AT&T, Inc., Sr. Unsec’d. Notes, | 423,408 | ||||||
200 | CC Holdings GS V LLC, Sr. Sec’d. Notes, 144A, | 202,212 | ||||||
250 | MetroPCS Wireless, Inc., Gtd. Notes, | 275,312 | ||||||
465 | Qwest Corp., Sr. Unsec’d. Notes, | 539,059 | ||||||
400 | Sprint Nextel Corp., Sr. Unsec’d. Notes, | 438,000 | ||||||
85 | Verizon Communications, Inc., Sr. Unsec’d. Notes, | 107,007 | ||||||
|
| |||||||
1,984,998 | ||||||||
|
| |||||||
| Tobacco 0.3% |
| ||||||
250 | Altria Group, Inc., Gtd. Notes, | 416,642 | ||||||
Lorillard Tobacco Co., | ||||||||
60 | 3.500%, 08/04/16 | 63,524 | ||||||
80 | 8.125%, 06/23/19 | 102,424 | ||||||
300 | Reynolds American, Inc., Gtd. Notes, | 360,273 | ||||||
|
| |||||||
942,863 | ||||||||
|
| |||||||
Total corporate bonds | 67,921,180 | |||||||
|
|
See Notes to Financial Statements.
42 | Visit our website at www.prudentialfunds.com |
Principal Amount (000)# | Description | Value (Note 1) | ||||||
| MUNICIPAL BONDS 0.5% |
| ||||||
100 | Chicago IL Brd. Ed., BABs, Taxable Ser. E, | $ | 110,770 | |||||
275 | Connecticut St. Spl. Tax Obligation Rev., BABs, | 343,412 | ||||||
175 | District of Columbia Income Tax Rev., BABs, | 222,659 | ||||||
125 | Metropolitan Government of Nashville & Davidson Cnty., | 161,114 | ||||||
250 | New York, NY, BABs, | 322,460 | ||||||
150 | University of Calif. Rev. BABs, | 189,924 | ||||||
250 | University TX, Perm. Univ. BABs, | 318,540 | ||||||
|
| |||||||
Total municipal bonds | 1,668,879 | |||||||
|
| |||||||
| U.S GOVERNMENT AGENCY OBLIGATION 0.1% |
| ||||||
200 | Federal National Mortgage Association, | 201,673 | ||||||
|
| |||||||
| U.S. TREASURY SECURITIES 0.5% |
| ||||||
800 | U.S. Treasury Notes, | 798,625 | ||||||
900 | 2.000%, 02/15/23 | 926,297 | ||||||
|
| |||||||
Total U.S. treasury securities | 1,724,922 | |||||||
|
| |||||||
| PREFERRED STOCK |
| ||||||
Shares | ||||||||
| Banking |
| ||||||
4,000 | Citigroup Capital XIII | 112,960 | ||||||
|
| |||||||
Total long-term investments | 326,905,823 | |||||||
|
| |||||||
| SHORT-TERM INVESTMENT 0.7% |
| ||||||
| Affiliated Money Market Mutual Fund |
| ||||||
2,454,975 | Prudential Investment Portfolios 2 - Prudential Core | 2,454,975 | ||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 43 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Description | Value (Note 1) | |||
Total Investments 97.2% | $ | 329,360,798 | ||
Other assets in excess of liabilities(i) 2.8% | 9,363,641 | |||
|
| |||
Net Assets 100.0% | $ | 338,724,439 | ||
|
|
The following abbreviations are used in the portfolio descriptions:
144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid.
RegS—Regulation S. Security was purchased pursuant to Regulation S and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.
ABS—Asset-Backed Security
BABs—Build America Bonds
CDO—Collateralized Debt Obligation
CLO—Collateralized Loan Obligation
GMTN—Global Medium Term Note
MTN—Medium Term Note
PSI—Private Sector Involvement
AED—United Arab Emirates Dirham
ARS—Argentine Peso
AUD—Australian Dollar
BRL—Brazilian Real
CAD—Canadian Dollar
CHF—Swiss Franc
CLP—Chilean Peso
CNY—Chinese Yuan Renminbi
COP—Colombian Peso
CZK—Czech Koruna
DKK—Danish Krone
EUR—Euro
GBP—British Pound
HKD—Hong Kong Dollar
HUF—Hungarian Forint
IDR—Indonesian Rupiah
ILS—Israeli New Shekel
INR—Indian Rupee
ITL—Italian Lira
JPY—Japanese Yen
KRW—South Korean Won
MXN—Mexican Peso
MYR—Malaysian Ringgit
See Notes to Financial Statements.
44 | Visit our website at www.prudentialfunds.com |
NOK—Norwegian Krone
NZD—New Zealand Dollar
PEN—Peruvian Nuevo Sol
PHP—Philippine Peso
PLN—Polish Zloty
RON—Romanian Leu
RUB—Russian Rouble
SEK—Swedish Krona
SGD—Singapore Dollar
THB—Thai Baht
TRY—Turkish Lira
TWD—Taiwan Dollar
ZAR—South African Rand
BBR—New Zealand Bank Bill Rate
BBSW—Australian Bank Bill Swap Reference Rate
BIBOR—Bangkok Interbank Offered Rate
BOBL— Bundesobligationen - German Federal Obligations
bps— Basis Points
BUBOR— Budapest Interbank Offered Rate
BTP—Buoni del Tesoro Poliennali - Long Term Italian fixed-rate Treasury Bonds and Notes
BZDIOVER—Overnight Brazil Cetip Interbank Deposit
CIBOR—Copenhagen Interbank Offered Rate
COLIBOR—Colombia Interbank Offered Rate
CP—Commercial Paper
CPI—Consumer Price Index
EONIA—Euro Overnight Index Average
EIBOR—Emirates Interbank Offered Rate
EURIBOR—Euro Interbank Offered Rate
HIBOR—Hong Kong Interbank Offered Rate
JIBAR—Johannesburg Interbank Agreed Rate
LIBOR—London Interbank Offered Rate
MIBOR—Mumbai Interbank Offered Rate
MOSPRIME—Moscow Prime Offered Rate
NIBOR—Norwegian Interbank Offered Rate
OIS—Overnight Index Swap
SOR—Swap Offer Rate
STIBOR—Stockholm Interbank Offered Rate
TELBOR—Tel Aviv Interbank Offered Rate
WIBOR—Warsaw Interbank Offered Rate
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
(a) | Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2013. |
(b) | Represents security, or a portion thereof, segregated as collateral for futures contracts. |
(c) | Represents a step bond. Rate shown reflects the rate in effect at April 30, 2013. |
(d) | Indicates a security that has been deemed illiquid. |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 45 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
(e) | Indicates a restricted security, the aggregate original cost of such securities is $2,448,666. The aggregate value of $2,622,456 is approximately 0.8% of net assets. |
(f) | Represents issuer in default on interest payments and/or principal repayment; non-income producing security. |
(g) | Represents security, or a portion thereof, segregated as collateral for swap agreements. |
(h) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 - Prudential Core Taxable Money Market Fund. |
(i) | Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end: |
Open futures contracts outstanding at April 30, 2013:
Number of Contracts | Type | Expiration Date | Value at Trade Date | Value at April 30, 2013 | Unrealized Appreciation (Depreciation) | |||||||||||||||
Long Positions: | ||||||||||||||||||||
41 | 90 Day Euro Dollar | Dec. 2013 | $ | 13,443,650 | $ | 13,470,395 | $ | 26,745 | ||||||||||||
56 | 90 Day Euro Dollar | Dec. 2014 | 18,296,947 | 18,374,620 | 77,673 | |||||||||||||||
20 | 2 Year U.S. Treasury Notes | Jun. 2013 | 4,411,275 | 4,412,500 | 1,225 | |||||||||||||||
81 | 5 Year U.S. Treasury Notes | Jun. 2013 | 10,077,950 | 10,095,891 | 17,941 | |||||||||||||||
52 | 10 Year U.S. Treasury Notes | Jun. 2013 | 6,940,705 | 6,934,688 | (6,017 | ) | ||||||||||||||
42 | Euro-BTP Italian Gov’t. Bond | Jun. 2013 | 5,974,880 | 6,413,417 | 438,537 | |||||||||||||||
92 | U.S. Long Bond | Jun. 2013 | 13,131,996 | 13,650,500 | 518,504 | |||||||||||||||
Short Positions: | ||||||||||||||||||||
15 | 30 Day Fed Fund | Dec. 2013 | 6,240,787 | 6,242,374 | (1,587 | ) | ||||||||||||||
54 | 90 Day Euro Dollar | Dec. 2013 | 13,449,613 | 13,458,150 | (8,537 | ) | ||||||||||||||
26 | Euro-BOBL | Jun. 2013 | 4,328,765 | 4,339,325 | (10,560 | ) | ||||||||||||||
18 | Euro-Bund | Jun. 2013 | 3,464,942 | 3,474,695 | (9,753 | ) | ||||||||||||||
98 | Euro Schatz | Jun. 2013 | 14,289,273 | 14,293,522 | (4,249 | ) | ||||||||||||||
33 | U.S. Ultra Bond | Jun. 2013 | 5,425,252 | 5,423,344 | 1,908 | |||||||||||||||
|
| |||||||||||||||||||
$ | 1,041,830 | |||||||||||||||||||
|
|
Forward foreign currency exchange contracts outstanding at April 30, 2013:
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Argentine Peso | ||||||||||||||||||
Expiring 10/21/13 | Citibank NA | ARS | 6,234,100 | $ | 1,005,500 | $ | 968,084 | $ | (37,416 | ) | ||||||||
Expiring 10/21/13 | Citibank NA | ARS | 4,143,312 | 667,200 | 643,409 | (23,791 | ) |
See Notes to Financial Statements.
46 | Visit our website at www.prudentialfunds.com |
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Australian Dollar | ||||||||||||||||||
Expiring 07/23/13 | Goldman Sachs | AUD | 10,400,605 | $ | 10,636,761 | $ | 10,714,572 | $ | 77,811 | |||||||||
Expiring 07/23/13 | Goldman Sachs | AUD | 1,629,289 | 1,673,400 | 1,678,473 | 5,073 | ||||||||||||
Expiring 07/23/13 | Goldman Sachs | AUD | 687,959 | 706,500 | 708,726 | 2,226 | ||||||||||||
Brazilian Real | ||||||||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 4,035,472 | 2,011,400 | 1,998,256 | (13,144 | ) | |||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 2,062,578 | 1,016,900 | 1,021,333 | 4,433 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 2,046,541 | 979,300 | 1,013,391 | 34,091 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 2,031,700 | 1,000,000 | 1,006,043 | 6,043 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 2,027,461 | 1,002,800 | 1,003,944 | 1,144 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,769,276 | 886,100 | 876,097 | (10,003 | ) | |||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,701,426 | 817,600 | 842,500 | 24,900 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,681,008 | 808,200 | 832,389 | 24,189 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,659,458 | 828,900 | 821,718 | (7,182 | ) | |||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,647,350 | 786,700 | 815,723 | 29,023 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,465,869 | 723,600 | 725,858 | 2,258 | ||||||||||||
Expiring 07/08/13 | Citibank NA | BRL | 1,350,856 | 649,700 | 668,907 | 19,207 | ||||||||||||
British Pound | ||||||||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | GBP | 2,182,400 | 3,324,727 | 3,388,329 | 63,602 | ||||||||||||
Expiring 07/24/13 | UBS AG | GBP | 874,700 | 1,334,579 | 1,358,033 | 23,454 | ||||||||||||
Expiring 07/24/13 | UBS AG | GBP | 677,000 | 1,034,001 | 1,051,090 | 17,089 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 8,377,097 | 12,772,678 | 13,005,963 | 233,285 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 2,047,240 | 3,124,313 | 3,178,467 | 54,154 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 1,083,184 | 1,676,500 | 1,681,710 | 5,210 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 672,533 | 1,037,182 | 1,044,148 | 6,966 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 100,184 | 154,507 | 155,542 | 1,035 | ||||||||||||
Expiring 07/25/13 | JPMorgan | GBP | 1,099,486 | 1,700,000 | 1,707,020 | 7,020 | ||||||||||||
Canadian Dollar | ||||||||||||||||||
Expiring 07/22/13 | Citibank NA | CAD | 13,108,862 | 12,752,035 | 12,986,573 | 234,538 | ||||||||||||
Expiring 07/22/13 | Goldman Sachs | CAD | 2,058,432 | 2,002,600 | 2,039,230 | 36,630 | ||||||||||||
Expiring 07/22/13 | Goldman Sachs | CAD | 1,023,305 | 1,014,600 | 1,013,759 | (841 | ) | |||||||||||
Expiring 07/22/13 | HSBC | CAD | 1,710,749 | 1,673,400 | 1,694,790 | 21,390 | ||||||||||||
Chilean Peso | ||||||||||||||||||
Expiring 06/11/13 | Citibank NA | CLP | 797,068,944 | 1,668,800 | 1,682,190 | 13,390 | ||||||||||||
Expiring 06/11/13 | Citibank NA | CLP | 479,050,000 | 1,000,000 | 1,011,021 | 11,021 | ||||||||||||
Expiring 06/11/13 | Credit Suisse International | CLP | 2,725,143,415 | 5,665,579 | 5,751,333 | 85,754 | ||||||||||||
Expiring 08/16/13 | Citibank NA | CLP | 473,267,221 | 988,300 | 990,081 | 1,781 | ||||||||||||
Expiring 08/16/13 | Citibank NA | CLP | 404,364,550 | 840,500 | 845,936 | 5,436 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 47 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Chinese Yuan Renminbi | ||||||||||||||||||
Expiring 06/13/13 | UBS AG | CNY | 33,733,663 | $ | 5,260,200 | $ | 5,459,463 | $ | 199,263 | |||||||||
Expiring 07/12/13 | Citibank NA | CNY | 37,054,523 | 5,910,434 | 5,987,991 | 77,557 | ||||||||||||
Expiring 10/29/13 | Citibank NA | CNY | 32,635,200 | 5,223,722 | 5,250,732 | 27,010 | ||||||||||||
Expiring 10/29/13 | Citibank NA | CNY | 19,118,084 | 3,023,100 | 3,075,941 | 52,841 | ||||||||||||
Expiring 10/29/13 | JPMorgan | CNY | 49,107,200 | 7,861,680 | 7,900,940 | 39,260 | ||||||||||||
Expiring 10/29/13 | UBS AG | CNY | 52,086,740 | 8,209,100 | 8,380,323 | 171,223 | ||||||||||||
Colombian Peso | ||||||||||||||||||
Expiring 05/14/13 | Citibank NA | COP | 3,629,169,020 | 2,011,400 | 1,986,339 | (25,061 | ) | |||||||||||
Expiring 05/14/13 | Citibank NA | COP | 3,022,474,000 | 1,660,700 | 1,654,279 | (6,421 | ) | |||||||||||
Expiring 05/14/13 | Citibank NA | COP | 1,819,137,770 | 1,011,700 | 995,661 | (16,039 | ) | |||||||||||
Expiring 05/14/13 | Citibank NA | COP | 1,803,903,950 | 1,008,500 | 987,324 | (21,176 | ) | |||||||||||
Expiring 06/07/13 | Citibank NA | COP | 3,604,328,000 | 1,980,400 | 1,968,961 | (11,439 | ) | |||||||||||
Expiring 06/07/13 | Citibank NA | COP | 3,001,979,430 | 1,647,900 | 1,639,912 | (7,988 | ) | |||||||||||
Expiring 06/07/13 | Citibank NA | COP | 1,495,401,180 | 819,600 | 816,903 | (2,697 | ) | |||||||||||
Expiring 06/07/13 | UBS AG | COP | 2,105,615,400 | 1,148,100 | 1,150,249 | 2,149 | ||||||||||||
Expiring 10/23/13 | Citibank NA | COP | 3,116,999,970 | 1,672,300 | 1,681,752 | 9,452 | ||||||||||||
Expiring 10/23/13 | Citibank NA | COP | 1,615,337,932 | 867,100 | 871,543 | 4,443 | ||||||||||||
Czech Koruna | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | CZK | 85,047,354 | 4,278,133 | 4,344,227 | 66,094 | ||||||||||||
Expiring 07/24/13 | Morgan Stanley | CZK | 32,426,628 | 1,639,900 | 1,656,356 | 16,456 | ||||||||||||
Expiring 07/24/13 | UBS AG | CZK | 21,145,064 | 1,073,000 | 1,080,092 | 7,092 | ||||||||||||
Euro | ||||||||||||||||||
Expiring 07/24/13 | Goldman Sachs | EUR | 1,947,800 | 2,543,861 | 2,566,683 | 22,822 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | EUR | 1,538,800 | 2,009,700 | 2,027,730 | 18,030 | ||||||||||||
Expiring 07/25/13 | Citibank NA | EUR | 2,022,520 | 2,642,200 | 2,665,164 | 22,964 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 3,390,800 | 4,427,049 | 4,468,207 | 41,158 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 3,241,347 | 4,216,685 | 4,271,266 | 54,581 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 1,017,700 | 1,330,376 | 1,341,068 | 10,692 | ||||||||||||
Hungarian Forint | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | HUF | 386,578,035 | 1,682,100 | 1,686,541 | 4,441 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | HUF | 1,940,232,572 | 8,390,594 | 8,464,738 | 74,144 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | HUF | 310,582,859 | 1,352,800 | 1,354,993 | 2,193 | ||||||||||||
Indian Rupee | ||||||||||||||||||
Expiring 07/10/13 | UBS AG | INR | 49,635,402 | 904,600 | 908,478 | 3,878 | ||||||||||||
Expiring 07/10/13 | UBS AG | INR | 36,918,473 | 664,300 | 675,720 | 11,420 | ||||||||||||
Expiring 07/15/13 | Citibank NA | INR | 705,926,163 | 12,686,132 | 12,907,306 | 221,174 | ||||||||||||
Expiring 07/15/13 | UBS AG | INR | 91,374,472 | 1,672,300 | 1,670,711 | (1,589 | ) | |||||||||||
Expiring 11/05/13 | UBS AG | INR | 93,427,750 | 1,691,000 | 1,674,518 | (16,482 | ) |
See Notes to Financial Statements.
48 | Visit our website at www.prudentialfunds.com |
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Indonesian Rupiah | ||||||||||||||||||
Expiring 05/28/13 | UBS AG | IDR | 9,103,466,400 | $ | 927,600 | $ | 932,969 | $ | 5,369 | |||||||||
Expiring 05/28/13 | UBS AG | IDR | 5,470,090,000 | 559,600 | 560,602 | 1,002 | ||||||||||||
Expiring 07/03/13 | UBS AG | IDR | 16,204,749,000 | 1,627,800 | 1,653,468 | 25,668 | ||||||||||||
Expiring 07/03/13 | UBS AG | IDR | 11,439,675,000 | 1,173,300 | 1,167,259 | (6,041 | ) | |||||||||||
Expiring 07/03/13 | UBS AG | IDR | 10,065,000,000 | 1,000,000 | 1,026,992 | 26,992 | ||||||||||||
Expiring 07/03/13 | UBS AG | IDR | 9,916,424,000 | 1,004,500 | 1,011,832 | 7,332 | ||||||||||||
Expiring 07/03/13 | UBS AG | IDR | 7,385,904,500 | 739,700 | 753,628 | 13,928 | ||||||||||||
Expiring 07/03/13 | UBS AG | IDR | 6,452,514,000 | 662,000 | 658,389 | (3,611 | ) | |||||||||||
Expiring 07/11/13 | UBS AG | IDR | 16,401,060,000 | 1,677,000 | 1,671,645 | (5,355 | ) | |||||||||||
Expiring 07/11/13 | UBS AG | IDR | 16,356,982,500 | 1,678,500 | 1,667,153 | (11,347 | ) | |||||||||||
Expiring 07/11/13 | UBS AG | IDR | 6,553,578,000 | 670,100 | 667,960 | (2,140 | ) | |||||||||||
Israeli New Shekel | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | ILS | 3,635,547 | 1,003,989 | 1,011,307 | 7,318 | ||||||||||||
Expiring 07/24/13 | HSBC | ILS | 9,394,881 | 2,582,040 | 2,613,392 | 31,352 | ||||||||||||
Expiring 07/24/13 | UBS AG | ILS | 3,634,861 | 1,000,000 | 1,011,116 | 11,116 | ||||||||||||
Expiring 07/24/13 | UBS AG | ILS | 2,422,086 | 667,000 | 673,756 | 6,756 | ||||||||||||
Japanese Yen | ||||||||||||||||||
Expiring 07/25/13 | JPMorgan | JPY | 2,771,825,133 | 27,896,257 | 28,447,272 | 551,015 | ||||||||||||
Expiring 07/25/13 | JPMorgan | JPY | 149,861,626 | 1,506,495 | 1,538,031 | 31,536 | ||||||||||||
Malaysian Ringgit | ||||||||||||||||||
Expiring 05/20/13 | UBS AG | MYR | 1,895,972 | 611,900 | 622,209 | 10,309 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 16,769,654 | 5,363,200 | 5,472,019 | 108,819 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 5,242,727 | 1,680,900 | 1,710,727 | 29,827 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 5,167,032 | 1,656,100 | 1,686,027 | 29,927 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 3,036,581 | 986,800 | 990,851 | 4,051 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 2,649,856 | 852,400 | 864,661 | 12,261 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 2,554,398 | 819,900 | 833,513 | 13,613 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 2,545,535 | 818,500 | 830,620 | 12,120 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 2,541,700 | 820,300 | 829,369 | 9,069 | ||||||||||||
Mexican Peso | ||||||||||||||||||
Expiring 07/22/13 | Citibank NA | MXN | 112,168,175 | 9,049,297 | 9,172,578 | 123,281 | ||||||||||||
Expiring 07/22/13 | UBS AG | MXN | 16,801,592 | 1,366,000 | 1,373,954 | 7,954 | ||||||||||||
New Zealand Dollar | ||||||||||||||||||
Expiring 07/23/13 | Citibank NA | NZD | 1,379,320 | 1,155,324 | 1,175,357 | 20,033 | ||||||||||||
Expiring 07/23/13 | Goldman Sachs | NZD | 5,381,275 | 4,510,375 | 4,585,533 | 75,158 | ||||||||||||
Expiring 07/23/13 | Goldman Sachs | NZD | 1,468,560 | 1,234,900 | 1,251,400 | 16,500 | ||||||||||||
Expiring 07/23/13 | Goldman Sachs | NZD | 1,182,508 | 1,004,000 | 1,007,648 | 3,648 | ||||||||||||
Norwegian Krone | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | NOK | 9,870,022 | 1,668,800 | 1,705,953 | 37,153 |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 49 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Norwegian Krone (cont’d.) | ||||||||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | NOK | 5,880,713 | $ | 1,009,200 | $ | 1,016,434 | $ | 7,234 | |||||||||
Expiring 07/24/13 | Goldman Sachs | NOK | 31,259,456 | 5,318,153 | 5,402,944 | 84,791 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | NOK | 9,845,394 | 1,676,500 | 1,701,697 | 25,197 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | NOK | 9,819,623 | 1,673,400 | 1,697,242 | 23,842 | ||||||||||||
Expiring 07/24/13 | Morgan Stanley | NOK | 7,820,503 | 1,352,800 | 1,351,711 | (1,089 | ) | |||||||||||
Peruvian Nuevo Sol | ||||||||||||||||||
Expiring 05/31/13 | Citibank NA | PEN | 8,335,991 | 3,219,524 | 3,146,801 | (72,723 | ) | |||||||||||
Expiring 05/31/13 | Citibank NA | PEN | 2,549,633 | 986,700 | 962,476 | (24,224 | ) | |||||||||||
Philippine Peso | ||||||||||||||||||
Expiring 05/31/13 | UBS AG | PHP | 41,180,000 | 1,000,000 | 999,280 | (720 | ) | |||||||||||
Expiring 06/18/13 | Citibank NA | PHP | 28,877,263 | 706,132 | 700,078 | (6,054 | ) | |||||||||||
Expiring 06/18/13 | UBS AG | PHP | 48,205,308 | 1,170,600 | 1,168,652 | (1,948 | ) | |||||||||||
Polish Zloty | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | PLN | 2,312,182 | 733,000 | 727,453 | (5,547 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | PLN | 29,234,712 | 9,229,848 | 9,197,749 | (32,099 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | PLN | 5,339,774 | 1,682,100 | 1,679,986 | (2,114 | ) | |||||||||||
Romanian Leu | ||||||||||||||||||
Expiring 07/24/13 | Goldman Sachs | RON | 3,359,098 | 1,000,000 | 1,014,044 | 14,044 | ||||||||||||
Expiring 07/24/13 | UBS AG | RON | 28,606,504 | 8,501,609 | 8,635,725 | 134,116 | ||||||||||||
Russian Rouble | ||||||||||||||||||
Expiring 06/13/13 | Citibank NA | RUB | 86,628,424 | 2,769,362 | 2,760,601 | (8,761 | ) | |||||||||||
Expiring 06/13/13 | Citibank NA | RUB | 50,500,366 | 1,581,200 | 1,609,303 | 28,103 | ||||||||||||
Expiring 06/13/13 | Citibank NA | RUB | 31,679,534 | 1,017,800 | 1,009,536 | (8,264 | ) | |||||||||||
Expiring 10/09/13 | Citibank NA | RUB | 107,056,927 | 3,321,500 | 3,347,028 | 25,528 | ||||||||||||
Expiring 10/09/13 | Citibank NA | RUB | 79,692,800 | 2,511,259 | 2,491,516 | (19,743 | ) | |||||||||||
Expiring 10/09/13 | Citibank NA | RUB | 64,466,228 | 2,012,400 | 2,015,472 | 3,072 | ||||||||||||
Expiring 10/09/13 | Citibank NA | RUB | 53,359,515 | 1,678,500 | 1,668,232 | (10,268 | ) | |||||||||||
Expiring 10/09/13 | Citibank NA | RUB | 32,037,944 | 995,400 | 1,001,634 | 6,234 | ||||||||||||
Singapore Dollar | ||||||||||||||||||
Expiring 07/23/13 | JPMorgan | SGD | 11,614,371 | 9,387,095 | 9,430,081 | 42,986 | ||||||||||||
South African Rand | ||||||||||||||||||
Expiring 07/30/13 | Deutsche Bank AG | ZAR | 9,327,769 | 1,008,778 | 1,026,397 | 17,619 | ||||||||||||
Expiring 07/30/13 | Goldman Sachs | ZAR | 9,358,221 | 1,000,000 | 1,029,747 | 29,747 | ||||||||||||
Expiring 07/30/13 | Goldman Sachs | ZAR | 6,149,831 | 669,300 | 676,707 | 7,407 | ||||||||||||
Expiring 07/30/13 | UBS AG | ZAR | 12,245,474 | 1,345,600 | 1,347,451 | 1,851 | ||||||||||||
South Korean Won | ||||||||||||||||||
Expiring 07/15/13 | UBS AG | KRW | 4,572,434,092 | 3,981,188 | 4,139,845 | 158,657 | ||||||||||||
Expiring 07/15/13 | UBS AG | KRW | 1,882,587,600 | 1,674,900 | 1,704,480 | 29,580 | ||||||||||||
Expiring 07/15/13 | UBS AG | KRW | 1,880,501,350 | 1,672,300 | 1,702,591 | 30,291 |
See Notes to Financial Statements.
50 | Visit our website at www.prudentialfunds.com |
Purchase Contracts | Counterparty | Notional Amount | Value at Settlement Date Payable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
South Korean Won (cont’d.) | ||||||||||||||||||
Expiring 07/15/13 | UBS AG | KRW | 1,869,523,200 | $ | 1,675,200 | $ | 1,692,651 | $ | 17,451 | |||||||||
Expiring 07/15/13 | UBS AG | KRW | 1,121,640,300 | 1,014,600 | 1,015,524 | 924 | ||||||||||||
Expiring 07/15/13 | UBS AG | KRW | 1,121,250,000 | 1,000,000 | 1,015,171 | 15,171 | ||||||||||||
Expiring 10/04/13 | UBS AG | KRW | 2,358,676,800 | 2,076,300 | 2,129,482 | 53,182 | ||||||||||||
Swedish Krona | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | SEK | 10,916,880 | 1,672,300 | 1,681,189 | 8,889 | ||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | SEK | 7,284,578 | 1,098,338 | 1,121,818 | 23,480 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | SEK | 31,551,010 | 4,814,256 | 4,858,825 | 44,569 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | SEK | 6,612,677 | 1,014,600 | 1,018,346 | 3,746 | ||||||||||||
Expiring 07/24/13 | Morgan Stanley | SEK | 20,330,052 | 3,079,000 | 3,130,808 | 51,808 | ||||||||||||
Expiring 07/24/13 | Morgan Stanley | SEK | 8,827,780 | 1,341,200 | 1,359,469 | 18,269 | ||||||||||||
Expiring 07/24/13 | UBS AG | SEK | 10,909,094 | 1,668,100 | 1,679,990 | 11,890 | ||||||||||||
Swiss Franc | �� | |||||||||||||||||
Expiring 07/24/13 | Citibank NA | CHF | 3,163,040 | 3,404,889 | 3,404,889 | — | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 4,734,262 | 5,029,600 | 5,096,249 | 66,649 | ||||||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 2,367,811 | 2,536,400 | 2,548,856 | 12,456 | ||||||||||||
Expiring 07/24/13 | JPMorgan | CHF | 7,895,392 | 8,383,902 | 8,499,082 | 115,180 | ||||||||||||
Expiring 07/24/13 | UBS AG | CHF | 6,322,049 | 6,696,376 | 6,805,439 | 109,063 | ||||||||||||
Taiwan Dollar | ||||||||||||||||||
Expiring 05/20/13 | UBS AG | TWD | 304,602,485 | 10,183,798 | 10,323,992 | 140,194 | ||||||||||||
Expiring 05/20/13 | UBS AG | TWD | 49,484,018 | 1,682,100 | 1,677,178 | (4,922 | ) | |||||||||||
Expiring 05/20/13 | UBS AG | TWD | 40,024,153 | 1,339,900 | 1,356,552 | 16,652 | ||||||||||||
Expiring 05/20/13 | UBS AG | TWD | 39,971,465 | 1,340,200 | 1,354,766 | 14,566 | �� | |||||||||||
Expiring 05/20/13 | UBS AG | TWD | 39,635,164 | 1,332,700 | 1,343,368 | 10,668 | ||||||||||||
Expiring 05/20/13 | UBS AG | TWD | 29,780,000 | 1,000,000 | 1,009,343 | 9,343 | ||||||||||||
Expiring 05/20/13 | UBS AG | TWD | 29,734,000 | 1,000,000 | 1,007,784 | 7,784 | ||||||||||||
Expiring 11/13/13 | UBS AG | TWD | 43,613,042 | 1,526,800 | 1,482,660 | (44,140 | ) | |||||||||||
Expiring 11/13/13 | UBS AG | TWD | 43,147,226 | 1,509,700 | 1,466,824 | (42,876 | ) | |||||||||||
Expiring 11/13/13 | UBS AG | TWD | 10,570,196 | 369,200 | 359,342 | (9,858 | ) | |||||||||||
Thai Baht | ||||||||||||||||||
Expiring 05/28/13 | Citibank NA | THB | 28,824,467 | 986,700 | 980,442 | (6,258 | ) | |||||||||||
Expiring 05/28/13 | HSBC | THB | 17,801,578 | 596,200 | 605,507 | 9,307 | ||||||||||||
Expiring 05/28/13 | JPMorgan | THB | 28,102,718 | 956,200 | 955,892 | (308 | ) | |||||||||||
Expiring 05/28/13 | Morgan Stanley | THB | 38,914,756 | 1,313,800 | 1,323,656 | 9,856 | ||||||||||||
Expiring 05/28/13 | UBS AG | THB | 204,000,373 | 6,806,592 | 6,938,915 | 132,323 | ||||||||||||
Expiring 05/28/13 | UBS AG | THB | 9,820,683 | 329,000 | 334,043 | 5,043 | ||||||||||||
Turkish Lira | ||||||||||||||||||
Expiring 07/30/13 | Citibank NA | TRY | 617,437 | 340,198 | 341,197 | 999 | ||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 417,464,402 | $ | 421,958,081 | $ | 4,493,679 | |||||||||||||
|
|
|
|
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 51 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Sales Contracts | Counterparty | Notional Amount | Value at Settlement Date Receivable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Australian Dollar | ||||||||||||||||||
Expiring 07/23/13 | Citibank NA | AUD | 1,130,800 | $ | 1,155,324 | $ | 1,164,936 | $ | (9,612 | ) | ||||||||
Expiring 07/23/13 | Deutsche Bank AG | AUD | 1,114,515 | 1,134,200 | 1,148,160 | (13,960 | ) | |||||||||||
Expiring 07/23/13 | Goldman Sachs | AUD | 984,500 | 1,006,892 | 1,014,219 | (7,327 | ) | |||||||||||
Brazilian Real | ||||||||||||||||||
Expiring 07/18/13 | Citibank NA | BRL | 13,564,968 | 6,789,273 | 6,704,614 | 84,659 | ||||||||||||
Expiring 07/18/13 | Citibank NA | BRL | 3,749,821 | 1,839,500 | 1,853,384 | (13,884 | ) | |||||||||||
British Pound | ||||||||||||||||||
Expiring 07/25/13 | Deutsche Bank AG | GBP | 897,604 | 1,366,000 | 1,393,586 | (27,586 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 3,348,900 | 5,110,445 | 5,199,375 | (88,930 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 1,242,400 | 1,891,523 | 1,928,903 | (37,380 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | GBP | 657,000 | 1,004,183 | 1,020,033 | (15,850 | ) | |||||||||||
Expiring 07/25/13 | HSBC | GBP | 1,290,000 | 1,997,015 | 2,002,805 | (5,790 | ) | |||||||||||
Chilean Peso | ||||||||||||||||||
Expiring 06/11/13 | Citibank NA | CLP | 1,173,873,200 | 2,441,500 | 2,477,424 | (35,924 | ) | |||||||||||
Expiring 08/16/13 | Citibank NA | CLP | 811,935,096 | 1,672,300 | 1,698,579 | (26,279 | ) | |||||||||||
Expiring 08/16/13 | Citibank NA | CLP | 470,108,030 | 967,400 | 983,472 | (16,072 | ) | |||||||||||
Chinese Yuan Renminbi | ||||||||||||||||||
Expiring 06/13/13 | UBS AG | CNY | 74,305,397 | 11,832,258 | 12,025,602 | (193,344 | ) | |||||||||||
Colombian Peso | ||||||||||||||||||
Expiring 06/07/13 | Citibank NA | COP | 14,458,282,945 | 7,905,021 | 7,898,228 | 6,793 | ||||||||||||
Expiring 06/07/13 | Citibank NA | COP | 3,629,941,075 | 1,976,500 | 1,982,953 | (6,453 | ) | |||||||||||
Expiring 06/07/13 | Citibank NA | COP | 3,082,731,960 | 1,676,400 | 1,684,026 | (7,626 | ) | |||||||||||
Czech Koruna | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | CZK | 51,816,879 | 2,602,000 | 2,646,811 | (44,811 | ) | |||||||||||
Danish Krone | ||||||||||||||||||
Expiring 07/24/13 | Goldman Sachs | DKK | 56,054,009 | 9,821,374 | 9,910,805 | (89,431 | ) | |||||||||||
Euro | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | EUR | 2,582,200 | 3,404,889 | 3,402,653 | 2,236 | ||||||||||||
Expiring 07/24/13 | Citibank NA | EUR | 770,800 | 1,003,990 | 1,015,710 | (11,720 | ) | |||||||||||
Expiring 07/24/13 | Deutsche Bank AG | EUR | 847,000 | 1,098,338 | 1,116,121 | (17,783 | ) | |||||||||||
Expiring 07/24/13 | JPMorgan | EUR | 6,441,500 | 8,383,902 | 8,488,185 | (104,283 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | EUR | 5,146,400 | 6,696,376 | 6,781,588 | (85,212 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 2,423,700 | 3,159,237 | 3,193,816 | (34,579 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 2,411,200 | 3,155,248 | 3,177,345 | (22,097 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 1,924,468 | 2,501,200 | 2,535,956 | (34,756 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 1,277,443 | 1,668,000 | 1,683,344 | (15,344 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 962,863 | 1,253,077 | 1,268,807 | (15,730 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | EUR | 798,000 | 1,037,182 | 1,051,560 | (14,378 | ) | |||||||||||
Expiring 07/30/13 | Deutsche Bank AG | EUR | 772,000 | 1,008,778 | 1,017,337 | (8,559 | ) |
See Notes to Financial Statements.
52 | Visit our website at www.prudentialfunds.com |
Sales Contracts | Counterparty | Notional Amount | Value at Settlement Date Receivable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Hungarian Forint | ||||||||||||||||||
Expiring 07/23/13 | Goldman Sachs | HUF | 382,212,477 | $ | 1,639,900 | $ | 1,667,641 | $ | (27,741 | ) | ||||||||
Expiring 07/24/13 | Citibank NA | HUF | 391,994,871 | 1,676,500 | 1,710,173 | (33,673 | ) | |||||||||||
Expiring 07/24/13 | Deutsche Bank AG | HUF | 611,555,375 | 2,635,400 | 2,668,059 | (32,659 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | HUF | 463,917,886 | 2,009,700 | 2,023,955 | (14,255 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | HUF | 132,391,158 | 567,400 | 577,589 | (10,189 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | HUF | 368,292,242 | 1,599,200 | 1,606,765 | (7,565 | ) | |||||||||||
Indian Rupee | ||||||||||||||||||
Expiring 03/04/14 | UBS AG | INR | 217,437,966 | 3,742,800 | 3,824,268 | (81,468 | ) | |||||||||||
Expiring 03/04/14 | UBS AG | INR | 131,736,238 | 2,247,100 | 2,316,958 | (69,858 | ) | |||||||||||
Expiring 03/04/14 | UBS AG | INR | 113,548,100 | 1,964,500 | 1,997,068 | (32,568 | ) | |||||||||||
Expiring 03/04/14 | UBS AG | INR | 97,169,340 | 1,668,000 | 1,709,001 | (41,001 | ) | |||||||||||
Expiring 03/04/14 | UBS AG | INR | 74,665,374 | 1,282,800 | 1,313,204 | (30,404 | ) | |||||||||||
Indonesian Rupiah | ||||||||||||||||||
Expiring 05/28/13 | UBS AG | IDR | 14,573,556,400 | 1,466,300 | 1,493,571 | (27,271 | ) | |||||||||||
Expiring 07/03/13 | UBS AG | IDR | 32,042,459,500 | 3,250,732 | 3,269,484 | (18,752 | ) | |||||||||||
Expiring 07/03/13 | UBS AG | IDR | 19,428,905,000 | 1,964,500 | 1,982,448 | (17,948 | ) | |||||||||||
Expiring 07/03/13 | UBS AG | IDR | 9,992,902,000 | 1,002,800 | 1,019,636 | (16,836 | ) | |||||||||||
Israeli New Shekel | ||||||||||||||||||
Expiring 07/24/13 | UBS AG | ILS | 2,548,302 | 699,700 | 708,866 | (9,166 | ) | |||||||||||
Japanese Yen | ||||||||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | JPY | 72,699,086 | 733,000 | 746,107 | (13,107 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | JPY | 499,769,504 | 5,033,792 | 5,129,140 | (95,348 | ) | |||||||||||
Expiring 07/25/13 | Goldman Sachs | JPY | 164,724,261 | 1,691,325 | 1,690,567 | 758 | ||||||||||||
Expiring 07/25/13 | Goldman Sachs | JPY | 124,105,827 | 1,265,615 | 1,273,699 | (8,084 | ) | |||||||||||
Expiring 07/25/13 | JPMorgan | JPY | 328,909,852 | 3,353,000 | 3,375,605 | (22,605 | ) | |||||||||||
Malaysian Ringgit | ||||||||||||||||||
Expiring 05/20/13 | Citibank NA | MYR | 1,895,972 | 610,029 | 622,209 | (12,180 | ) | |||||||||||
Expiring 06/11/13 | HSBC | MYR | 7,050,567 | 2,254,378 | 2,310,058 | (55,680 | ) | |||||||||||
Expiring 06/11/13 | UBS AG | MYR | 7,142,443 | 2,335,200 | 2,340,161 | (4,961 | ) | |||||||||||
Expiring 06/11/13 | UBS AG | MYR | 6,130,000 | 2,000,000 | 2,008,442 | (8,442 | ) | |||||||||||
Expiring 06/11/13 | UBS AG | MYR | 4,124,417 | 1,352,800 | 1,351,330 | 1,470 | ||||||||||||
Expiring 08/07/13 | UBS AG | MYR | 21,432,831 | 6,836,629 | 6,993,636 | (157,007 | ) | |||||||||||
Mexican Peso | ||||||||||||||||||
Expiring 07/22/13 | JPMorgan | MXN | 32,782,066 | 2,642,200 | 2,680,761 | (38,561 | ) | |||||||||||
Norwegian Krone | ||||||||||||||||||
Expiring 07/24/13 | Goldman Sachs | NOK | 14,412,788 | 2,428,985 | 2,491,134 | (62,149 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | NOK | 9,624,642 | 1,639,929 | 1,663,541 | (23,612 | ) |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 53 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Sales Contracts | Counterparty | Notional Amount | Value at Settlement Date Receivable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Norwegian Krone (cont’d.) | ||||||||||||||||||
Expiring 07/24/13 | Morgan Stanley | NOK | 5,682,549 | $ | 967,400 | $ | 982,183 | $ | (14,783 | ) | ||||||||
Expiring 07/24/13 | Morgan Stanley | NOK | 3,952,238 | 667,000 | 683,112 | (16,112 | ) | |||||||||||
Peruvian Nuevo Sol | ||||||||||||||||||
Expiring 08/02/13 | Citibank NA | PEN | 6,025,430 | 2,301,100 | 2,268,352 | 32,748 | ||||||||||||
Expiring 08/02/13 | Citibank NA | PEN | 5,816,258 | 2,232,300 | 2,189,606 | 42,694 | ||||||||||||
Expiring 08/02/13 | Citibank NA | PEN | 3,071,198 | 1,168,200 | 1,156,193 | 12,007 | ||||||||||||
Philippine Peso | ||||||||||||||||||
Expiring 06/18/13 | UBS AG | PHP | 38,758,000 | 937,826 | 939,619 | (1,793 | ) | |||||||||||
Expiring 06/18/13 | UBS AG | PHP | 33,878,760 | 822,300 | 821,330 | 970 | ||||||||||||
Expiring 06/18/13 | UBS AG | PHP | 20,593,097 | 498,200 | 499,243 | (1,043 | ) | |||||||||||
Polish Zloty | ||||||||||||||||||
Expiring 07/24/13 | Citibank NA | PLN | 9,711,523 | 3,034,700 | 3,055,414 | (20,714 | ) | |||||||||||
Expiring 07/24/13 | Citibank NA | PLN | 8,378,751 | 2,603,400 | 2,636,101 | (32,701 | ) | |||||||||||
Expiring 07/24/13 | Morgan Stanley | PLN | 5,263,692 | 1,639,900 | 1,656,049 | (16,149 | ) | |||||||||||
Expiring 01/13/14 | Deutsche Bank AG | PLN | 1,585,620 | 502,688 | 494,471 | 8,217 | ||||||||||||
Romanian Leu | ||||||||||||||||||
Expiring 01/13/14 | Citibank NA | RON | 1,035,231 | 308,334 | 306,791 | 1,543 | ||||||||||||
Russian Rouble | ||||||||||||||||||
Expiring 07/18/13 | Citibank NA | RUB | 171,626,837 | 5,479,172 | 5,437,601 | 41,571 | ||||||||||||
Expiring 07/18/13 | Citibank NA | RUB | 68,679,550 | 2,179,300 | 2,175,954 | 3,346 | ||||||||||||
Expiring 07/18/13 | Citibank NA | RUB | 47,972,752 | 1,507,700 | 1,519,906 | (12,206 | ) | |||||||||||
Singapore Dollar | ||||||||||||||||||
Expiring 07/23/13 | JPMorgan | SGD | 4,149,872 | 3,337,600 | 3,369,414 | (31,814 | ) | |||||||||||
Expiring 07/23/13 | UBS AG | SGD | 2,795,397 | 2,253,734 | 2,269,673 | (15,939 | ) | |||||||||||
South African Rand | ||||||||||||||||||
Expiring 07/30/13 | Barclays Capital PLC | ZAR | 7,035,909 | 751,494 | 774,208 | (22,714 | ) | |||||||||||
Expiring 07/30/13 | UBS AG | ZAR | 15,199,219 | 1,630,293 | 1,672,471 | (42,178 | ) | |||||||||||
Expiring 07/30/13 | UBS AG | ZAR | 3,413,345 | 369,925 | 375,593 | (5,668 | ) | |||||||||||
South Korean Won | ||||||||||||||||||
Expiring 10/04/13 | UBS AG | KRW | 1,148,101,900 | 996,400 | 1,036,540 | (40,140 | ) | |||||||||||
Expiring 10/04/13 | UBS AG | KRW | 1,126,925,600 | 986,800 | 1,017,421 | (30,621 | ) | |||||||||||
Expiring 10/04/13 | UBS AG | KRW | 963,212,000 | 852,400 | 869,616 | (17,216 | ) | |||||||||||
Swedish Krona | ||||||||||||||||||
Expiring 07/24/13 | Goldman Sachs | SEK | 16,677,040 | 2,543,861 | 2,568,248 | (24,387 | ) | |||||||||||
Expiring 07/24/13 | Morgan Stanley | SEK | 15,281,223 | 2,301,100 | 2,353,293 | (52,193 | ) | |||||||||||
Expiring 07/24/13 | Morgan Stanley | SEK | 9,064,638 | 1,372,200 | 1,395,945 | (23,745 | ) | |||||||||||
Swiss Franc | ||||||||||||||||||
Expiring 05/16/13 | Barclays Capital | CHF | 520,625 | 580,161 | 560,006 | 20,155 | ||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | CHF | 3,135,430 | 3,324,726 | 3,375,168 | (50,442 | ) |
See Notes to Financial Statements.
54 | Visit our website at www.prudentialfunds.com |
Sales Contracts | Counterparty | Notional Amount | Value at Settlement Date Receivable | Value at April 30, 2013 | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Swiss Franc (cont’d.) | ||||||||||||||||||
Expiring 07/24/13 | Deutsche Bank AG | CHF | 1,579,684 | $ | 1,668,800 | $ | 1,700,469 | $ | (31,669 | ) | ||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 10,118,003 | 10,826,292 | 10,891,637 | (65,345 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 2,565,858 | 2,753,758 | 2,762,046 | (8,288 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 1,311,933 | 1,391,907 | 1,412,245 | (20,338 | ) | |||||||||||
Expiring 07/24/13 | Goldman Sachs | CHF | 772,000 | 828,821 | 831,028 | (2,207 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | CHF | 1,261,840 | 1,334,579 | 1,358,322 | (23,743 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | CHF | 965,039 | 1,034,001 | 1,038,827 | (4,826 | ) | |||||||||||
Expiring 07/24/13 | UBS AG | CHF | 294,760 | 314,620 | 317,298 | (2,678 | ) | |||||||||||
Taiwan Dollar | ||||||||||||||||||
Expiring 08/19/13 | Citibank NA | TWD | 87,835,068 | 2,960,400 | 2,981,217 | (20,817 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 97,612,945 | 3,289,400 | 3,313,089 | (23,689 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 59,576,662 | 2,011,400 | 2,022,097 | (10,697 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 50,259,690 | 1,677,000 | 1,705,868 | (28,868 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 29,906,448 | 996,400 | 1,015,057 | (18,657 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 29,794,614 | 1,004,200 | 1,011,262 | (7,062 | ) | |||||||||||
Expiring 08/19/13 | UBS AG | TWD | 28,492,993 | 953,900 | 967,083 | (13,183 | ) | |||||||||||
Expiring 11/13/13 | UBS AG | TWD | 97,330,464 | 3,351,600 | 3,308,826 | 42,774 | ||||||||||||
Thai Baht | ||||||||||||||||||
Expiring 05/28/13 | Citibank NA | THB | 96,361,936 | 3,334,900 | 3,277,677 | 57,223 | ||||||||||||
Expiring 05/28/13 | JPMorgan | THB | 96,814,686 | 3,313,200 | 3,293,077 | 20,123 | ||||||||||||
Expiring 05/28/13 | JPMorgan | THB | 66,752,455 | 2,303,000 | 2,270,533 | 32,467 | ||||||||||||
Expiring 05/28/13 | UBS AG | THB | 62,785,740 | 2,133,900 | 2,135,609 | (1,709 | ) | |||||||||||
Expiring 05/28/13 | UBS AG | THB | 39,739,988 | 1,352,800 | 1,351,725 | 1,075 | ||||||||||||
Turkish Lira | ||||||||||||||||||
Expiring 07/30/13 | JPMorgan | TRY | 1,790,477 | 981,759 | 989,421 | (7,662 | ) | |||||||||||
|
|
|
|
|
| |||||||||||||
$ | 260,120,390 | $ | 262,449,347 | (2,328,957 | ) | |||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 2,164,722 | |||||||||||||||||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 55 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Credit default swap agreements outstanding at April 30, 2013:
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on corporate issues—Buy Protection(1): | ||||||||||||||||||||||||||
American International Group, Inc. | 03/20/18 | 3.700% | 250 | $ | (32,217 | ) | $ | — | $ | (32,217 | ) | Deutsche Bank AG | ||||||||||||||
Duke Energy Corp. | 03/20/14 | 0.700% | 350 | (2,415 | ) | — | (2,415 | ) | Goldman Sachs International | |||||||||||||||||
Masco Corp. | 09/20/13 | 1.000% | 260 | (1,173 | ) | 956 | (2,129 | ) | Deutsche Bank AG | |||||||||||||||||
R.R. Donnelley & Sons Co. | 06/20/14 | 1.000% | 600 | (5,487 | ) | 10,994 | (16,481 | ) | Deutsche Bank AG | |||||||||||||||||
R.R. Donnelley & Sons Co. | 09/20/16 | 1.000% | 450 | 20,838 | 27,126 | (6,288 | ) | JPMorgan Chase Bank | ||||||||||||||||||
SLM Corp. | 06/20/14 | 5.000% | 510 | (29,087 | ) | 22,630 | (51,717 | ) | JPMorgan Chase Bank | |||||||||||||||||
Toll Brothers Finance Corp. | 03/20/15 | 1.000% | 420 | (4,821 | ) | 926 | (5,747 | ) | Credit Suisse International | |||||||||||||||||
Westvaco Corp. | 09/20/19 | 1.000% | 450 | 15,769 | 5,658 | 10,111 | JPMorgan Chase Bank | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | (38,593 | ) | $ | 68,290 | $ | (106,883 | ) | |||||||||||||||||||
|
|
|
|
|
|
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Depreciation | Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on credit indices—Buy Protection(1): | ||||||||||||||||||||||||||
CDX.NA.IG.19 | 12/20/17 | 1.000% | 5,000 | $ | (83,083 | ) | $ | (23,488 | ) | $ | (59,595 | ) | Citibank NA | |||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Depreciation | Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on sovereign issues—Buy Protection(1): | ||||||||||||||||||||||||||
Kingdom of Belgium | 03/20/14 | 1.000% | 3,000 | $ | (27,844 | ) | $ | (22,723 | ) | $ | (5,121 | ) | JPMorgan Chase Bank | |||||||||||||
Republic of France | 03/20/14 | 0.250% | 3,000 | (4,514 | ) | (1,811 | ) | (2,703 | ) | JPMorgan Chase Bank | ||||||||||||||||
Republic of Ireland | 12/20/13 | 1.000% | 1,300 | (7,235 | ) | (4,158 | ) | (3,077 | ) | HSBC Bank USA NA |
See Notes to Financial Statements.
56 | Visit our website at www.prudentialfunds.com |
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Depreciation | Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on sovereign issues—Buy Protection(1) (cont’d.): | ||||||||||||||||||||||||||
Republic of Italy | 12/20/13 | 1.000% | 6,000 | $ | (17,295 | ) | $ | 13,693 | $ | (30,988 | ) | HSBC Bank USA NA | ||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | (56,888 | ) | $ | (14,999 | ) | $ | (41,889 | ) | ||||||||||||||||||
|
|
|
|
|
|
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Implied Credit Spread at April 30, 2013(3) | Fair Value | Upfront Premiums Paid (Received) | Unrealized | Counterparty | ||||||||||||||||||||
Over-the-counter credit default swaps on sovereign issues—Sell Protection(2): | ||||||||||||||||||||||||||||
Kingdom of Netherlands | 06/20/16 | 0.250% | 2,000 | 0.359 | % | $ | (6,262 | ) | $ | (58,845 | ) | $52,583 | HSBC Bank USA NA | |||||||||||||||
Kingdom of Netherlands | 06/20/17 | 0.250% | 2,000 | 0.469 | % | (17,429 | ) | (92,165 | ) | 74,736 | Barclays Bank PLC | |||||||||||||||||
Republic of Belgium | 09/20/15 | 1.000% | 1,300 | 0.238 | % | 25,313 | (41,964 | ) | 67,277 | HSBC Bank USA NA | ||||||||||||||||||
Republic of Belgium | 03/20/20 | 1.000% | 3,000 | 0.954 | % | 12,604 | (14,500 | ) | 27,104 | JPMorgan Chase Bank | ||||||||||||||||||
Republic of Brazil | 03/20/18 | 1.000% | 1,500 | 1.056 | % | (2,232 | ) | (17,514 | ) | 15,282 | Deutsche Bank AG | |||||||||||||||||
Republic of France | 03/20/14 | 0.250% | 5,000 | 0.115 | % | 7,522 | (66,080 | ) | 73,602 | Citibank NA | ||||||||||||||||||
Republic of France | 06/20/15 | 0.250% | 5,000 | 0.235 | % | 3,069 | (176,316 | ) | 179,385 | Barclays Bank PLC | ||||||||||||||||||
Republic of France | 06/20/16 | 0.250% | 2,700 | 0.414 | % | (13,145 | ) | (156,882 | ) | 143,737 | Barclays Bank PLC | |||||||||||||||||
Republic of France | 12/20/16 | 0.250% | 4,500 | 0.510 | % | (41,173 | ) | (353,862 | ) | 312,689 | Citibank NA | |||||||||||||||||
Republic of France | 12/20/16 | 1.000% | 1,000 | 0.510 | % | (8,275 | ) | (31,892 | ) | 23,617 | UBS AG | |||||||||||||||||
Republic of France | 06/20/17 | 0.250% | 2,500 | 0.582 | % | (33,356 | ) | (194,311 | ) | 160,955 | Barclays Bank PLC | |||||||||||||||||
Republic of France | 03/20/20 | 0.250% | 3,000 | 1.020 | % | (149,979 | ) | (188,678 | ) | 38,699 | JPMorgan Chase Bank | |||||||||||||||||
Republic of France | 03/20/22 | 0.250% | 1,250 | 1.193 | % | (94,713 | ) | (167,253 | ) | 72,540 | Morgan Stanley Capital Services | |||||||||||||||||
Republic of France | 09/20/22 | 0.250% | 3,000 | 1.224 | % | (245,264 | ) | (290,349 | ) | 45,085 | HSBC Bank USA NA | |||||||||||||||||
Republic of Germany | 06/20/17 | 0.250% | 2,000 | 0.271 | % | (1,162 | ) | (76,601 | ) | 75,439 | Barclays Bank PLC |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 57 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Implied Credit Spread at April 30, 2013(3) | Fair Value | Upfront Premiums Paid (Received) | Unrealized | Counterparty | ||||||||||||||||||||
Over-the-counter credit default swaps on sovereign issues—Sell Protection(2): (cont’d.): | ||||||||||||||||||||||||||||
Republic of Ireland | 12/20/14 | 1.000% | 2,000 | 0.691 | % | $ | 12,482 | $ | (399,762 | ) | $412,244 | HSBC Bank USA NA | ||||||||||||||||
Republic of Ireland | 06/20/18 | 1.000% | 2,000 | 1.588 | % | (55,008 | ) | (81,678 | ) | 26,670 | HSBC Bank USA NA | |||||||||||||||||
Republic of Italy | 12/20/16 | 1.000% | 2,000 | 2.122 | % | (75,750 | ) | (293,423 | ) | 217,673 | UBS AG | |||||||||||||||||
Republic of Portugal | 12/20/13 | 1.000% | 1,000 | 1.169 | % | 75 | (220,692 | ) | 220,767 | HSBC Bank USA NA | ||||||||||||||||||
Republic of Portugal | 03/20/14 | 1.000% | 400 | 1.384 | % | (900 | ) | (123,989 | ) | 123,089 | Morgan Stanley Capital Services | |||||||||||||||||
Republic of Portugal | 12/20/14 | 1.000% | 1,500 | 1.984 | % | (22,184 | ) | (412,058 | ) | 389,874 | Barclays Bank PLC | |||||||||||||||||
|
|
|
|
| ||||||||||||||||||||||||
$ | (705,767 | ) | $ | (3,458,814 | ) | $2,753,047 | ||||||||||||||||||||||
|
|
|
|
|
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Implied Credit Spread at April 30, 2013(3) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation | Counterparty | ||||||||||||||||||||||
Over-the-counter credit default swaps on corporate issues—Sell Protection(2): | ||||||||||||||||||||||||||||||
Hewlett-Packard Co. | 12/20/17 | 1.000% | 800 | 1.577 | % | $ | (19,762 | ) | $ | (81,584 | ) | $ | 61,822 | Credit Suisse International | ||||||||||||||||
|
|
|
|
|
|
Reference | Termination Date | Fixed Rate | Notional Amount (000)#(4) | Fair Value(5) | Upfront Premiums Paid (Received) | Unrealized Appreciation | Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on credit indices—Sell Protection(2): | ||||||||||||||||||||||||||
CDX.NA.HY.17 | 12/20/16 | 5.000% | 4,800 | $ | 417,351 | $ | 209,028 | $ | 208,323 | Deutsche Bank AG | ||||||||||||||||
CDX.NA.HY.19 | 12/20/17 | 5.000% | 2,000 | 155,662 | (23,264 | ) | 178,926 | Citibank NA | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 573,013 | $ | 185,764 | $387,249 | ||||||||||||||||||||||
|
|
|
|
|
|
See Notes to Financial Statements.
58 | Visit our website at www.prudentialfunds.com |
The Fund entered into credit default swaps as the protection seller on corporate issues, credit indices and sovereign issues to take an active short position with respect to the likelihood of a particular issuer’s default or the referenced entity’s credit soundness.
(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) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues of an emerging country 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. |
(4) | 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. |
(5) | The fair value of credit default swap agreements on credit indices serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms represents 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. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
Forward rate agreement outstanding at April 30, 2013:
Notional | Termination Date | Fixed Rate | Floating Rate | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation | Counterparty | |||||||||||||||||||
| Over-the-counter forward rate agreement: | |||||||||||||||||||||||||
CHF | 75,000 | 12/25/13 | (0.030)% | 3 Month Swiss Franc LIBOR Rate(1) | $ | 23,866 | $ | — | $ | 23,866 | Barclays Bank PLC | |||||||||||||||
|
|
|
|
|
|
(1) | The Fund pays the fixed rate and receives the floating rate. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 59 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Interest rate swap agreements outstanding at April 30, 2013:
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements: | |||||||||||||||||||||||||
5,000 | 07/12/14 | 0.518% | 3 Month LIBOR(2) | $ | 20,164 | $ | — | $ | 20,164 | Bank of Nova Scotia | ||||||||||||||||
49,000 | 12/31/14 | 0.170% | 1 Day Federal Funds Rate OIS(2) | 23,925 | — | 23,925 | Barclays Bank PLC | |||||||||||||||||||
9,600 | 03/08/15 | 0.383% | 3 Month LIBOR(2) | 10,340 | — | 10,340 | Deutsche Bank AG | |||||||||||||||||||
4,900 | 01/25/16 | 0.496% | 3 Month LIBOR(1) | (17,058 | ) | — | (17,058 | ) | Deutsche Bank AG | |||||||||||||||||
9,625 | 08/31/16 | 0.934% | 3 Month LIBOR(2) | 147,227 | — | 147,227 | Credit Suisse International | |||||||||||||||||||
2,995 | 08/31/16 | 0.975% | 3 Month LIBOR(1) | (50,070 | ) | — | (50,070 | ) | JPMorgan Chase Bank NA | |||||||||||||||||
2,995 | 08/31/16 | 0.978% | 3 Month LIBOR(1) | (50,435 | ) | — | (50,435 | ) | JPMorgan Chase Bank NA | |||||||||||||||||
11,150 | 11/30/16 | 0.913% | 3 Month LIBOR(1) | (182,152 | ) | — | (182,152 | ) | JPMorgan Chase Bank NA | |||||||||||||||||
3,100 | 02/24/17 | 1.192% | 3 Month LIBOR(1) | (75,746 | ) | — | (75,746 | ) | Citibank NA | |||||||||||||||||
8,300 | 08/31/17 | 0.872% | 3 Month LIBOR(1) | (55,874 | ) | — | (55,874 | ) | Deutsche Bank AG | |||||||||||||||||
7,900 | 08/31/17 | 0.783% | 3 Month LIBOR(1) | (24,406 | ) | — | (24,406 | ) | Morgan Stanley Capital Services | |||||||||||||||||
7,900 | 08/31/17 | 0.751% | 3 Month LIBOR(1) | (13,878 | ) | — | (13,878 | ) | Morgan Stanley Capital Services | |||||||||||||||||
3,515 | 08/31/17 | 0.751% | 3 Month LIBOR(1) | (6,220 | ) | — | (6,220 | ) | Bank of Nova Scotia | |||||||||||||||||
2,100 | 01/08/18 | 0.935% | 3 Month LIBOR(2) | 21,907 | — | 21,907 | Bank of America NA | |||||||||||||||||||
3,230 | 11/15/19 | 1.443% | 3 Month LIBOR(2) | 54,630 | — | 54,630 | Morgan Stanley Capital Services | |||||||||||||||||||
4,850 | 02/15/20 | 1.355% | 3 Month LIBOR(2) | 24,067 | — | 24,067 | Morgan Stanley Capital Services | |||||||||||||||||||
3,230 | 02/15/20 | 1.505% | 3 Month LIBOR(1) | (47,235 | ) | — | (47,235 | ) | Morgan Stanley Capital Services | |||||||||||||||||
1,100 | 08/24/22 | 1.875% | 3 Month LIBOR(2) | 17,026 | — | 17,026 | HSBC Bank USA NA | |||||||||||||||||||
3,935 | 08/15/39 | 2.949% | 3 Month LIBOR(2) | 129,577 | — | 129,577 | Barclays Bank PLC | |||||||||||||||||||
3,935 | 08/15/39 | 3.011% | 3 Month LIBOR(1) | (176,578 | ) | — | (176,578 | ) | Barclays Bank PLC | |||||||||||||||||
2,615 | 08/15/39 | 2.757% | 3 Month LIBOR(2) | (10,639 | ) | — | (10,639 | ) | Deutsche Bank AG | |||||||||||||||||
720 | 02/24/42 | 2.864% | 3 Month LIBOR(2) | 14,503 | — | 14,503 | Citibank NA | |||||||||||||||||||
AED | 35,000 | 03/09/15 | 1.020% | 3 Month EIBOR(1) | (1,932 | ) | — | (1,932 | ) | Deutsche Bank AG | ||||||||||||||||
AUD | 1,000 | 09/07/21 | 4.945% | 6 Month BBSW(2) | 100,240 | — | 100,240 | Citibank NA | ||||||||||||||||||
AUD | 1,400 | 08/31/22 | 3.920% | 6 Month BBSW(2) | 24,119 | — | 24,119 | Citibank NA | ||||||||||||||||||
AUD | 1,000 | 08/31/22 | 3.890% | 6 Month BBSW(2) | 14,739 | — | 14,739 | HSBC Bank USA NA | ||||||||||||||||||
AUD | 1,700 | 09/21/22 | 3.830% | 6 Month BBSW(2) | 13,143 | — | 13,143 | Barclays Bank PLC |
See Notes to Financial Statements.
60 | Visit our website at www.prudentialfunds.com |
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): | |||||||||||||||||||||||||
AUD | 400 | 11/07/22 | 3.790% | 6 Month BBSW(2) | $ | 2,861 | $ | — | $ | 2,861 | HSBC Bank USA NA | |||||||||||||||
AUD | 2,000 | 12/19/32 | 4.423% | 6 Month BBSW(2) | 68,297 | — | 68,297 | Barclays Bank PLC | ||||||||||||||||||
AUD | 1,000 | 12/24/32 | 4.260% | 6 Month BBSW(2) | 10,816 | — | 10,816 | UBS AG | ||||||||||||||||||
AUD | 650 | 03/15/43 | 4.755% | 6 Month BBSW(2) | 59,300 | — | 59,300 | HSBC Bank USA NA | ||||||||||||||||||
BRL | 7,217 | 01/01/17 | 0.000% | 1 Day BZDIOVER(2) | (13,454 | ) | — | (13,454 | ) | Barclays Bank PLC | ||||||||||||||||
BRL | 5,758 | 01/01/17 | 0.000% | 1 Day BZDIOVER(2) | 36,991 | — | 36,991 | Morgan Stanley Capital Services | ||||||||||||||||||
BRL | 5,610 | 01/01/17 | 0.000% | 1 Day BZDIOVER(2) | 91,500 | — | 91,500 | Barclays Bank PLC | ||||||||||||||||||
BRL | 937 | 01/01/21 | 0.000% | 1 Day BZDIOVER(2) | 15,872 | — | 15,872 | Morgan Stanley Capital Services | ||||||||||||||||||
BRL | 880 | 01/01/21 | 0.000% | 1 Day BZDIOVER(2) | 38,686 | — | 38,686 | HSBC Bank USA NA | ||||||||||||||||||
BRL | 880 | 01/01/21 | 0.000% | 1 Day BZDIOVER(2) | 38,686 | — | 38,686 | Barclays Bank PLC | ||||||||||||||||||
BRL | 445 | 01/01/21 | 0.000% | 1 Day BZDIOVER(2) | 18,647 | — | 18,647 | UBS AG | ||||||||||||||||||
CAD | 3,200 | 02/22/17 | 1.708% | 3 Month Canadian Banker’s Acceptance(2) | 34,368 | — | 34,368 | Citibank NA | ||||||||||||||||||
CAD | 2,100 | 02/27/17 | 1.625% | 3 Month Canadian Banker’s Acceptance(2) | 15,639 | — | 15,639 | Credit Suisse International | ||||||||||||||||||
CAD | 650 | 11/06/17 | 1.645% | 3 Month Canadian Banker’s Acceptance(2) | 4,738 | — | 4,738 | Bank of Nova Scotia | ||||||||||||||||||
CAD | 500 | 12/27/17 | 1.700% | 3 Month Canadian Banker’s Acceptance(2) | 4,433 | — | 4,433 | Bank of Nova Scotia | ||||||||||||||||||
CAD | 5,400 | 08/17/22 | 2.370% | 3 Month Canadian Banker’s Acceptance(2) | 150,746 | — | 150,746 | Bank of Nova Scotia | ||||||||||||||||||
CAD | 350 | 11/06/22 | 2.203% | 3 Month Canadian Banker’s Acceptance(2) | 4,946 | — | 4,946 | Bank of Nova Scotia | ||||||||||||||||||
CAD | 700 | 02/22/42 | 2.865% | 3 Month Canadian Banker’s Acceptance(1) | (32,669 | ) | — | (32,669 | ) | Citibank NA | ||||||||||||||||
CHF | 3,500 | 07/20/14 | (0.088)% | 3 Month Swiss Franc LIBOR Rate(1) | 10,038 | — | 10,038 | Credit Suisse International | ||||||||||||||||||
CHF | 1,000 | 03/01/22 | 1.030% | 6 Month Swiss Franc LIBOR Rate(2) | 14,863 | — | 14,863 | Credit Suisse International |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 61 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): | |||||||||||||||||||||||||
COP | 6,500,000 | 04/25/16 | 3.710% | 1 Day COLIBOR OIS(2) | $ | (8,386 | ) | $ | — | $ | (8,386 | ) | BNP Paribas | |||||||||||||
DKK | 31,000 | 01/25/16 | 0.910% | 6 Month CIBOR(2) | 43,308 | — | 43,308 | Deutsche Bank AG | ||||||||||||||||||
DKK | 3,200 | 03/01/22 | 2.300% | 6 Month CIBOR(2) | 42,100 | — | 42,100 | Credit Suisse International | ||||||||||||||||||
EUR | 3,000 | 07/20/14 | 0.406% | 3 Month EURIBOR(2) | 21,794 | — | 21,794 | Credit Suisse International | ||||||||||||||||||
EUR | 3,000 | 08/19/14 | 1.065% | 1 Day EUR EONIA OIS(2) | 78,631 | — | 78,631 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 10,000 | 12/10/14 | 0.035% | 1 Day EUR EONIA OIS(1) | 14,192 | — | 14,192 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 1,300 | 08/04/16 | 1.925% | 1 Day EUR EONIA OIS(2) | 120,041 | — | 120,041 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 1,000 | 08/29/16 | 1.600% | 1 Day EUR EONIA OIS(2) | 74,679 | — | 74,679 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 500 | 08/30/16 | 1.560% | 1 Day EUR EONIA OIS(2) | 36,264 | — | 36,264 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 500 | 11/04/16 | 1.310% | 1 Day EUR EONIA OIS(2) | 28,905 | — | 28,905 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 500 | 11/07/16 | 1.265% | 6 Month EURIBOR(2) | 27,212 | — | 27,212 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 1,000 | 12/16/16 | 1.210% | 1 Day EUR EONIA OIS(2) | 51,543 | — | 51,543 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 5,500 | 12/10/17 | 0.452% | 1 Day EUR EONIA OIS(2) | 30,029 | — | 30,029 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 1,200 | 01/14/18 | 0.628% | 1 Day EUR EONIA OIS(2) | 18,951 | — | 18,951 | HSBC Bank USA NA | ||||||||||||||||||
EUR | 1,800 | 07/27/22 | 1.772% | 6 Month EURIBOR(2) | 112,651 | — | 112,651 | Citibank NA | ||||||||||||||||||
EUR | 1,709 | 07/23/42 | 2.246% | 6 Month EURIBOR(1) | 22,385 | — | 22,385 | Royal Bank of Scotland | ||||||||||||||||||
EUR | 650 | 09/24/42 | 2.404% | 6 Month EURIBOR(2) | 62,629 | — | 62,629 | Citibank NA | ||||||||||||||||||
EUR | 850 | 03/27/43 | 2.327% | 6 Month EURIBOR(2) | 47,503 | — | 47,503 | Bank of America NA | ||||||||||||||||||
EUR | 1,871 | 07/23/52 | 2.708% | 6 Month EURIBOR(2) | 15,307 | — | 15,307 | Royal Bank of Scotland | ||||||||||||||||||
GBP | 500 | 08/01/16 | 2.060% | 6 Month GBP LIBOR(2) | 37,367 | — | 37,367 | Citibank NA | ||||||||||||||||||
GBP | 1,200 | 08/09/16 | 1.894% | 6 Month GBP LIBOR(2) | 78,799 | — | 78,799 | HSBC Bank USA NA | ||||||||||||||||||
GBP | 2,000 | 08/17/22 | 1.975% | 3 Month GBP LIBOR(2) | 108,389 | — | 108,389 | HSBC Bank USA NA | ||||||||||||||||||
GBP | 400 | 09/27/22 | 1.790% | 3 Month GBP LIBOR(2) | 9,353 | — | 9,353 | HSBC Bank USA NA | ||||||||||||||||||
GBP | 500 | 01/03/23 | 1.895% | 3 Month GBP LIBOR(2) | 16,221 | — | 16,221 | HSBC Bank USA NA | ||||||||||||||||||
GBP | 2,600 | 01/13/32 | 2.788% | 6 Month GBP LIBOR(2) | 114,772 | — | 114,772 | Barclays Bank PLC | ||||||||||||||||||
GBP | 1,700 | 04/24/43 | 2.932% | 6 Month GBP LIBOR(2) | (6,518 | ) | — | (6,518 | ) | HSBC Bank USA NA | ||||||||||||||||
HKD | 27,000 | 01/04/18 | 0.805% | 3 Month HIBOR(1) | (15,119 | ) | — | (15,119 | ) | Bank of America NA |
See Notes to Financial Statements.
62 | Visit our website at www.prudentialfunds.com |
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): | |||||||||||||||||||||||||
HKD | 8,200 | 08/22/22 | 1.560% | 3 Month HIBOR(1) | $ | (11,321 | ) | $ | — | $ | (11,321 | ) | HSBC Bank USA NA | |||||||||||||
HUF | 330,000 | 03/27/23 | 5.510% | 6 Month BUBOR(2) | 119,204 | — | 119,204 | Deutsche Bank AG | ||||||||||||||||||
ILS | 25,000 | 03/16/14 | 1.580% | 3 Month TELBOR(1) | 483 | — | 483 | Deutsche Bank AG | ||||||||||||||||||
ILS | 3,200 | 03/06/23 | 3.525% | 3 Month TELBOR(2) | 29,601 | — | 29,601 | Deutsche Bank AG | ||||||||||||||||||
INR | 55,000 | 03/11/14 | 7.600% | 1 Day MIBOR(1) | (1,399 | ) | — | (1,399 | ) | HSBC Bank USA NA | ||||||||||||||||
INR | 55,000 | 03/11/23 | 7.470% | 1 Day MIBOR(2) | 34,617 | — | 34,617 | HSBC Bank USA NA | ||||||||||||||||||
JPY | 1,200,000 | 04/18/18 | 0.418% | 6 Month Yen LIBOR(2) | 12,765 | — | 12,765 | HSBC Bank USA NA | ||||||||||||||||||
JPY | 165,000 | 06/13/18 | 0.778% | 6 Month Yen LIBOR(2) | 36,179 | — | 36,179 | Barclays Bank PLC | ||||||||||||||||||
JPY | 165,000 | 08/24/18 | 0.463% | 6 Month Yen LIBOR(2) | 5,007 | — | 5,007 | Credit Suisse International | ||||||||||||||||||
JPY | 550,000 | 04/18/20 | 0.563% | 6 Month Yen LIBOR(2) | 15,986 | — | 15,986 | JPMorgan Chase Bank NA | ||||||||||||||||||
JPY | 260,000 | 04/19/20 | 0.528% | 6 Month Yen LIBOR(2) | 851 | — | 851 | Credit Suisse International | ||||||||||||||||||
JPY | 186,905 | 05/17/20 | 1.388% | 6 Month Yen LIBOR(2) | 127,444 | — | 127,444 | Citibank NA | ||||||||||||||||||
JPY | 90,000 | 12/20/20 | 1.353% | 6 Month Yen LIBOR(2) | 59,475 | — | 59,475 | Citibank NA | ||||||||||||||||||
JPY | 60,000 | 02/02/21 | 1.265% | 6 Month Yen LIBOR(2) | 34,585 | — | 34,585 | Barclays Bank PLC | ||||||||||||||||||
JPY | 96,000 | 02/16/21 | 1.365% | 6 Month Yen LIBOR(2) | 63,078 | — | 63,078 | Barclays Bank PLC | ||||||||||||||||||
JPY | 50,000 | 06/02/21 | 1.200% | 6 Month Yen LIBOR(2) | 26,922 | — | 26,922 | Barclays Bank PLC | ||||||||||||||||||
JPY | 45,000 | 06/16/21 | 1.170% | 6 Month Yen LIBOR(2) | 22,867 | — | 22,867 | Barclays Bank PLC | ||||||||||||||||||
JPY | 40,000 | 06/28/21 | 1.123% | 6 Month Yen LIBOR(2) | 18,497 | — | 18,497 | Barclays Bank PLC | ||||||||||||||||||
JPY | 40,000 | 07/11/21 | 1.193% | 6 Month Yen LIBOR(2) | 20,818 | — | 20,818 | UBS AG | ||||||||||||||||||
JPY | 30,000 | 07/22/21 | 1.090% | 6 Month Yen LIBOR(2) | 12,800 | — | 12,800 | Citibank NA | ||||||||||||||||||
JPY | 50,000 | 10/04/21 | 1.013% | 6 Month Yen LIBOR(2) | 20,890 | — | 20,890 | Royal Bank of Scotland | ||||||||||||||||||
JPY | 40,000 | 11/14/21 | 0.975% | 6 Month Yen LIBOR(2) | 13,108 | — | 13,108 | Credit Suisse International | ||||||||||||||||||
JPY | 220,000 | 07/26/22 | 0.745% | 6 Montn Yen LIBOR(2) | 11,676 | — | 11,676 | Barclays Bank PLC | ||||||||||||||||||
JPY | 55,000 | 11/20/22 | 0.748% | 6 Month Yen LIBOR(2) | 2,213 | — | 2,213 | Barclays Bank PLC | ||||||||||||||||||
JPY | 120,000 | 12/27/22 | 0.803% | 6 Month Yen LIBOR(2) | 11,404 | — | 11,404 | Barclays Bank PLC | ||||||||||||||||||
JPY | 175,000 | 03/15/23 | 0.755% | 6 Month Yen LIBOR(2) | 1,309 | — | 1,309 | Barclays Bank PLC | ||||||||||||||||||
JPY | 145,000 | 04/15/23 | 0.750% | 6 Month Yen LIBOR(2) | (1,280 | ) | — | (1,280 | ) | Credit Suisse International | ||||||||||||||||
JPY | 85,500 | 07/21/24 | 1.489% | 6 Month Yen LIBOR(2) | 64,996 | — | 64,996 | Citibank NA | ||||||||||||||||||
JPY | 60,000 | 07/04/26 | 1.603% | 6 Month Yen LIBOR(2) | 48,315 | — | 48,315 | Citibank NA | ||||||||||||||||||
JPY | 70,000 | 08/02/26 | 1.534% | 6 Month Yen LIBOR(2) | 48,406 | — | 48,406 | Citibank NA | ||||||||||||||||||
JPY | 300,000 | 09/03/27 | 1.290% | 6 Month Yen LIBOR(2) | 66,156 | — | 66,156 | Citibank NA | ||||||||||||||||||
JPY | 35,000 | 10/02/27 | 1.238% | 6 Month Yen LIBOR(2) | 4,341 | — | 4,341 | Barclays Bank PLC | ||||||||||||||||||
JPY | 55,000 | 11/05/27 | 1.270% | 6 Month Yen LIBOR(2) | 11,179 | — | 11,179 | Barclays Bank PLC | ||||||||||||||||||
JPY | 40,000 | 12/04/27 | 1.261% | 6 Month Yen LIBOR(2) | 6,830 | — | 6,830 | Citibank NA |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 63 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): | |||||||||||||||||||||||||
JPY | 40,000 | 12/14/27 | 1.235% | 6 Month Yen LIBOR(2) | $ | 4,988 | $ | — | $ | 4,988 | HSBC Bank USA NA | |||||||||||||||
JPY | 120,000 | 02/20/28 | 1.353% | 6 Month Yen LIBOR(2) | 32,083 | — | 32,083 | Deutsche Bank AG | ||||||||||||||||||
JPY | 200,000 | 04/16/28 | 1.235% | 6 Month Yen LIBOR(2) | 10,549 | — | 10,549 | Credit Suisse International | ||||||||||||||||||
JPY | 110,000 | 08/18/31 | 1.750% | 6 Month Yen LIBOR(2) | 63,628 | — | 63,628 | Barclays Bank PLC | ||||||||||||||||||
JPY | 25,000 | 08/30/31 | 1.750% | 6 Month Yen LIBOR(2) | 14,311 | — | 14,311 | Barclays Bank PLC | ||||||||||||||||||
JPY | 240,000 | 01/18/32 | 1.638% | 6 Month Yen LIBOR(2) | 81,180 | — | 81,180 | Barclays Bank PLC | ||||||||||||||||||
JPY | 80,000 | 09/24/32 | 1.561% | 6 Month Yen LIBOR(1) | (11,707 | ) | — | (11,707 | ) | Citibank NA | ||||||||||||||||
JPY | 30,000 | 11/05/32 | 1.563% | 6 Month Yen LIBOR(2) | 4,352 | — | 4,352 | Barclays Bank PLC | ||||||||||||||||||
JPY | 160,000 | 11/14/32 | 2.390% | 6 Month Yen LIBOR(2) | 6,590 | — | 6,590 | Citibank NA | ||||||||||||||||||
JPY | 35,000 | 12/14/32 | 1.575% | 6 Month Yen LIBOR(2) | 6,621 | — | 6,621 | HSBC Bank USA NA | ||||||||||||||||||
JPY | 40,000 | 07/09/42 | 1.705% | 6 Month Yen LIBOR(2) | 1,861 | — | 1,861 | Barclays Bank PLC | ||||||||||||||||||
JPY | 20,000 | 10/02/42 | 1.659% | 6 Month Yen LIBOR(2) | (5,087 | ) | — | (5,087 | ) | Barclays Bank PLC | ||||||||||||||||
JPY | 70,000 | 01/28/43 | 1.955% | 6 Month Yen LIBOR(2) | 40,319 | — | 40,319 | JPMorgan Chase Bank NA | ||||||||||||||||||
MXN | 40,500 | 07/05/13 | 5.480% | 28 Day Mexican Interbank Rate(2) | 9,926 | — | 9,926 | Barclays Bank PLC | ||||||||||||||||||
MXN | 45,000 | 12/02/15 | 5.090% | 28 Day Mexican Interbank Rate(2) | 79,611 | — | 79,611 | Deutsche Bank AG | ||||||||||||||||||
MXN | 17,100 | 02/18/22 | 6.600% | 28 Day Mexican Interbank Rate(2) | 160,415 | — | 160,415 | Barclays Bank PLC | ||||||||||||||||||
MXN | 31,100 | 05/25/22 | 6.370% | 28 Day Mexican Interbank Rate(2) | 260,414 | — | 260,414 | Morgan Stanley Capital Services | ||||||||||||||||||
MXN | 6,000 | 10/26/22 | 5.940% | 28 Day Mexican Interbank Rate(2) | 32,991 | — | 32,991 | Barclays Bank PLC | ||||||||||||||||||
MXN | 16,000 | 11/23/22 | 5.795% | 28 Day Mexican Interbank Rate(1) | (72,147 | ) | — | (72,147 | ) | Deutsche Bank AG | ||||||||||||||||
MXN | 25,000 | 12/23/22 | 5.900% | 28 Day Mexican Interbank Rate(1) | (130,042 | ) | — | (130,042 | ) | Royal Bank of Scotland | ||||||||||||||||
MXN | 17,500 | 04/09/42 | 7.890% | 28 Day Mexican Interbank Rate(2) | 348,209 | — | 348,209 | Barclays Bank PLC | ||||||||||||||||||
NOK | 47,000 | 11/07/14 | 2.170% | 6 Month NIBOR(1) | (40,507 | ) | — | (40,507 | ) | Citibank NA | ||||||||||||||||
NOK | 13,500 | 11/07/17 | 2.550% | 6 Month NIBOR(2) | 43,327 | — | 43,327 | Citibank NA | ||||||||||||||||||
NOK | 4,500 | 11/07/22 | 3.190% | 6 Month NIBOR(2) | 24,644 | — | 24,644 | Citibank NA | ||||||||||||||||||
NZD | 3,200 | 08/18/16 | 4.173% | 3 Month BBR(2) | 107,366 | — | 107,366 | Citibank NA | ||||||||||||||||||
NZD | 1,480 | 03/26/17 | 3.810% | 3 Month BBR(2) | 34,189 | — | 34,189 | HSBC Bank USA NA | ||||||||||||||||||
NZD | 1,320 | 09/25/22 | 3.790% | 3 Month BBR(2) | 3,777 | — | 3,777 | Citibank NA | ||||||||||||||||||
PLN | 4,900 | 06/27/21 | 5.390% | 6 Month WIBOR(2) | 322,068 | — | 322,068 | UBS AG | ||||||||||||||||||
PLN | 5,700 | 04/12/22 | 5.030% | 6 Month WIBOR(2) | 288,591 | — | 288,591 | HSBC Bank USA NA | ||||||||||||||||||
PLN | 4,000 | 03/14/23 | 3.810% | 6 Month WIBOR(2) | 80,525 | — | 80,525 | Bank of America NA |
See Notes to Financial Statements.
64 | Visit our website at www.prudentialfunds.com |
Notional | Termination Date | Fixed Rate | Floating | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): | |||||||||||||||||||||||||
PLN | 4,100 | 03/18/23 | 3.660% | 6 Month WIBOR(2) | $ | 65,341 | $ | — | $ | 65,341 | HSBC Bank USA NA | |||||||||||||||
PLN | 3,600 | 06/27/26 | 5.280% | 6 Month WIBOR(1) | (315,568 | ) | — | (315,568 | ) | UBS AG | ||||||||||||||||
PLN | 4,100 | 04/12/27 | 4.810% | 6 Month WIBOR(1) | (266,741 | ) | — | (266,741 | ) | HSBC Bank USA NA | ||||||||||||||||
PLN | 3,500 | 03/18/43 | 3.380% | 6 Month WIBOR(1) | (161,880 | ) | — | (161,880 | ) | HSBC Bank USA NA | ||||||||||||||||
RUB | 70,000 | 04/10/23 | 7.470% | 3 Month MOSPRIME(2) | 12,671 | — | 12,671 | Deutsche Bank AG | ||||||||||||||||||
SEK | 3,700 | 02/27/22 | 2.520% | 3 Month STIBOR(2) | 26,412 | — | 26,412 | Citibank NA | ||||||||||||||||||
SEK | 3,000 | 01/16/23 | 2.200% | 3 Month STIBOR(2) | 9,079 | — | 9,079 | Barclays Bank PLC | ||||||||||||||||||
SGD | 1,800 | 01/08/18 | 0.935% | 6 Month SOR(2) | 15,235 | — | 15,235 | Bank of America NA | ||||||||||||||||||
THB | 50,000 | 12/20/17 | 3.230% | 6 Month BIBOR(2) | 26,066 | — | 26,066 | Bank of America NA | ||||||||||||||||||
TWD | 40,000 | 12/24/22 | 1.390% | 3 Month Taiwan Secondary Market CP Bank Rate(1) | (11,593 | ) | — | (11,593 | ) | HSBC Bank USA NA | ||||||||||||||||
ZAR | 180,000 | 10/08/13 | 4.960% | 3 Month JIBAR(1) | 32,451 | — | 32,451 | Barclays Bank PLC | ||||||||||||||||||
ZAR | 12,000 | 04/15/43 | 7.200% | 3 Month JIBAR(1) | (76,196 | ) | — | (76,196 | ) | HSBC Bank USA NA | ||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 3,758,014 | $ | — | $ | 3,758,014 | |||||||||||||||||||||
|
|
|
|
|
|
(1) | Fund pays the fixed rate and receives the floating rate. |
(2) | Fund pays the floating rate and receives the fixed rate. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
Currency swap agreements outstanding at April 30, 2013:
Notional | Fund Receives | Notional Amount (000)# | Fund | Counterparty | Termination Date | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
| Over-the-counter swap agreements: |
| ||||||||||||||||||||||||||||
1,688 | 3 Month LIBOR | EUR | 1,300 | 3 Month EURIBOR minus 30.50 bps | Barclays Bank PLC | 12/04/14 | $ | (20,919 | ) | $ | — | $ | (20,919 | ) | ||||||||||||||||
326 | 3 Month LIBOR | EUR | 250 | 3 Month EURIBOR minus 31.70 bps | Barclays Bank PLC | 12/14/15 | (2,567 | ) | — | (2,567 | ) | |||||||||||||||||||
777 | 3 Month LIBOR | EUR | 550 | 5.250% | Citibank NA | 05/16/13 | 17,460 | — | 17,460 | |||||||||||||||||||||
649 | 3 Month LIBOR | EUR | 500 | 5.375% | Citibank NA | 06/10/13 | (40,797 | ) | (23,855 | ) | (16,942 | ) | ||||||||||||||||||
1,035 | 3 Month LIBOR | EUR | 750 | 6.500% | Citibank NA | 02/10/14 | 15,564 | (56,251 | ) | 71,815 | ||||||||||||||||||||
1,986 | 3 Month LIBOR | EUR | 1,500 | 6.750% | Citibank NA | 07/28/14 | (137,564 | ) | (56,992 | ) | (80,572 | ) | ||||||||||||||||||
1,364 | 3 Month LIBOR | EUR | 1,000 | 7.500% | Citibank NA | 10/14/14 | (99,307 | ) | (156,521 | ) | 57,214 | |||||||||||||||||||
1,333 | 3 Month LIBOR | EUR | 1,000 | 7.500% | Citibank NA | 10/14/14 | (145,470 | ) | (170,148 | ) | 24,678 | |||||||||||||||||||
778 | 3 Month LIBOR | EUR | 600 | 7.500% | Citibank NA | 10/14/14 | (96,212 | ) | (87,625 | ) | (8,587 | ) | ||||||||||||||||||
1,294 | 3 Month LIBOR | EUR | 1,000 | 3 Month EURIBOR minus 28.75 bps | Citibank NA | 10/15/14 | (22,096 | ) | — | (22,096 | ) | |||||||||||||||||||
808 | 3 Month LIBOR | JPY | 62,000 | 5.500% | Citibank NA | 12/15/14 | 191,190 | (12 | ) | 191,202 | ||||||||||||||||||||
494 | 3 Month LIBOR | EUR | 400 | 5.000% | Citibank NA | 03/18/15 | (46,662 | ) | (14,732 | ) | (31,930 | ) |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 65 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
Notional | Fund Receives | Notional Amount (000)# | Fund | Counterparty | Termination Date | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
| Over-the-counter swap agreements (cont’d.): |
| ||||||||||||||||||||||||||||
2,105 | 3 Month LIBOR | CHF | 2,000 | 2.625% | Citibank NA | 05/12/15 | $ | (131,755 | ) | $ | (78,305 | ) | $ | (53,450 | ) | |||||||||||||||
1,246 | 3 Month LIBOR | JPY | 100,000 | 4.500% | Citibank NA | 06/08/15 | 218,228 | 62 | 218,166 | |||||||||||||||||||||
307 | 3 Month LIBOR | JPY | 24,000 | 4.500% | Citibank NA | 06/08/15 | 50,338 | (12,097 | ) | 62,435 | ||||||||||||||||||||
257 | 3 Month LIBOR | JPY | 20,000 | 4.500% | Citibank NA | 06/08/15 | 41,698 | (11,240 | ) | 52,938 | ||||||||||||||||||||
690 | 3 Month LIBOR | EUR | 500 | 3.750% | Citibank NA | 10/12/15 | (8,060 | ) | (16,600 | ) | 8,540 | |||||||||||||||||||
649 | 3 Month LIBOR | EUR | 500 | 3.750% | Citibank NA | 10/12/15 | (46,941 | ) | (16,422 | ) | (30,519 | ) | ||||||||||||||||||
582 | 3 Month LIBOR | EUR | 480 | 4.500% | Citibank NA | 11/30/15 | (71,923 | ) | (5,471 | ) | (66,452 | ) | ||||||||||||||||||
263 | 3 Month LIBOR | EUR | 200 | 3 Month EURIBOR minus 30.00 bps | Citibank NA | 12/18/15 | 164 | — | 164 | |||||||||||||||||||||
651 | 3 Month LIBOR | EUR | 500 | 3.625% | Citibank NA | 02/01/16 | (16,159 | ) | 45 | (16,204 | ) | |||||||||||||||||||
651 | 3 Month LIBOR | EUR | 500 | 4.500% | Citibank NA | 04/05/16 | (40,779 | ) | (22,722 | ) | (18,057 | ) | ||||||||||||||||||
303 | 3 Month LIBOR | EUR | 227 | 4.500% | Citibank NA | 04/05/16 | (11,009 | ) | (15,773 | ) | 4,764 | |||||||||||||||||||
960 | 3 Month LIBOR | EUR | 700 | 4.500% | Citibank NA | 04/15/16 | (20,743 | ) | — | (20,743 | ) | |||||||||||||||||||
1,111 | 3 Month LIBOR | JPY | 92,000 | 3.700% | Citibank NA | 11/14/16 | 207,468 | 66 | 207,402 | |||||||||||||||||||||
327 | 3 Month LIBOR | CHF | 300 | 2.875% | Citibank NA | 11/23/16 | (15,246 | ) | (22,679 | ) | 7,433 | |||||||||||||||||||
325 | 3 Month LIBOR | CHF | 300 | 2.875% | Citibank NA | 11/23/16 | (17,251 | ) | (27,045 | ) | 9,794 | |||||||||||||||||||
1,605 | 3 Month LIBOR | JPY | 125,000 | 3.450% | Citibank NA | 03/24/17 | 409,157 | 38,561 | 370,596 | |||||||||||||||||||||
244 | 3 Month LIBOR | EUR | 200 | 4.250% | Citibank NA | 07/14/17 | (49,901 | ) | (20,832 | ) | (29,069 | ) | ||||||||||||||||||
122 | 3 Month LIBOR | EUR | 100 | 4.250% | Citibank NA | 07/14/17 | (25,194 | ) | (11,428 | ) | (13,766 | ) | ||||||||||||||||||
1,111 | 3 Month LIBOR | CHF | 1,000 | 2.625% | Credit Suisse International | 05/12/15 | 14,084 | (25,901 | ) | 39,985 | ||||||||||||||||||||
567 | 3 Month LIBOR | CHF | 500 | 4.000% | Credit Suisse International | 05/20/16 | 34,813 | 678 | 34,135 | |||||||||||||||||||||
12,789 | 3 Month LIBOR | EUR | 9,645 | 3 Month EURIBOR minus 26.00 bps | Deutsche Bank AG | 01/25/15 | 91,788 | — | 91,788 | |||||||||||||||||||||
620 | 3 Month LIBOR | CHF | 588 | 3 Month CHF LIBOR minus 34.75 bps | HSBC Bank USA NA | 11/13/13 | (11,421 | ) | — | (11,421 | ) | |||||||||||||||||||
293 | 3 Month LIBOR | EUR | 220 | 3 Month EURIBOR minus 25.75 bps | HSBC Bank USA NA | 01/17/15 | 3,639 | — | 3,639 | |||||||||||||||||||||
107 | 3 Month LIBOR | CHF | 100 | 3 Month CHF LIBOR minus 29.00 bps | HSBC Bank USA NA | 04/24/15 | (552 | ) | — | (552 | ) | |||||||||||||||||||
461 | 3 Month LIBOR | EUR | 350 | 3 Month EURIBOR minus 30.25 bps | HSBC Bank USA NA | 12/19/15 | 533 | — | 533 | |||||||||||||||||||||
635 | 3 Month LIBOR | EUR | 500 | 3 Month EURIBOR minus 31.25 bps | JPMorgan Chase Bank | 11/15/14 | (21,762 | ) | — | (21,762 | ) | |||||||||||||||||||
147 | 3 Month LIBOR | EUR | 120 | 4.500% | JPMorgan Chase Bank | 11/30/15 | (16,794 | ) | (2,177 | ) | (14,617 | ) | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
$ | 179,040 | $ | (815,416 | ) | $ | 994,456 | ||||||||||||||||||||||||
|
|
|
|
|
|
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
See Notes to Financial Statements.
66 | Visit our website at www.prudentialfunds.com |
Inflation swap agreements outstanding at April 30, 2013:
Notional | Termination Date | Fixed Rate | Description | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Counterparty | |||||||||||||||||||
JPY | 900,000 | 01/15/14 | 0.150% | Japan CPI Nationwide General Ex Fresh Food(1) | $ | 4,837 | $ | — | $ | 4,837 | Barclays Bank PLC | |||||||||||||||
JPY | 300,000 | 01/15/16 | 0.790% | Japan CPI Nationwide General Ex Fresh Food(2) | (55,903 | ) | — | (55,903 | ) | Barclays Bank PLC | ||||||||||||||||
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| |||||||||||||||||||||
$ | (51,066 | ) | $ | — | $ | (51,066 | ) | |||||||||||||||||||
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|
|
(1) | Fund pays the fixed rate and receives the floating rate. |
(2) | Fund pays the floating rate and receives the fixed rate. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.
Level 1—quoted prices generally in active markets for identical securities.
Level 2—other significant observable inputs including, but not limited to, quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates, and amortized cost.
Level 3—significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 67 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
The following is a summary of the inputs used as of April 30, 2013 in valuing such portfolio securities:
Level 1 | Level 2 | Level 3 | ||||||||||
Investments in Securities | ||||||||||||
Foreign Bonds | $ | — | $ | 215,659,221 | $ | 3,429,424 | ||||||
Asset-Backed Securities | ||||||||||||
Collateralized Loan Obligations, Debt Obligations and Other Asset Backed Securities | — | 6,223,946 | — | |||||||||
Residential Mortgage-Backed Securities | — | 19,619,301 | — | |||||||||
Bank Loans | — | 5,958,235 | 905,926 | |||||||||
Commercial Mortgage-Backed Securities | — | 3,480,156 | — | |||||||||
Corporate Bonds | — | 67,198,882 | 722,298 | |||||||||
Municipal Bonds | — | 1,668,879 | — | |||||||||
U.S. Government Agency Obligation | — | 201,673 | — | |||||||||
U.S. Treasury Securities | — | 1,724,922 | — | |||||||||
Preferred Stock | 112,960 | — | — | |||||||||
Affiliated Money Market Mutual Fund | 2,454,975 | — | — | |||||||||
Other Financial Instruments* | ||||||||||||
Futures | 1,041,830 | — | — | |||||||||
Forward Foreign Currency Exchange Contracts | — | 2,164,722 | — | |||||||||
Credit Default Swap Agreements | — | 2,996,166 | (2,415 | ) | ||||||||
Forward Rate Agreement | — | 23,866 | — | |||||||||
Interest Rate Swap Agreements | — | 3,409,805 | 348,209 | |||||||||
Currency Swap Agreements | — | 994,456 | — | |||||||||
Inflation Swap Agreements | — | (51,066 | ) | — | ||||||||
|
|
|
|
|
| |||||||
Total | $ | 3,609,765 | $ | 331,273,164 | $ | 5,403,442 | ||||||
|
|
|
|
|
|
See Notes to Financial Statements.
68 | Visit our website at www.prudentialfunds.com |
The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:
Foreign Bonds | Collateralized Loan Obligations, Debt Obligations and Other Asset Backed Securities | Bank Loans | Corporate Bonds | Credit Default Swaps | Interest Rate Swaps | |||||||||||||||||||
Balance as of 10/31/12 | $ | 2,020,650 | $ | 17,826 | $ | 288,755 | $ | 739,080 | $ | (3,246 | ) | $ | 128,968 | |||||||||||
Realized gain (loss) | — | 12 | 6,136 | — | — | ** | — | ** | ||||||||||||||||
Change in unrealized appreciation (depreciation)*** | 130,023 | (145 | ) | 2,660 | 13,624 | 831 | 219,241 | |||||||||||||||||
Purchases | 1,276,628 | — | 897,453 | — | — | — | ||||||||||||||||||
Sales | — | (17,707 | ) | (291,286 | ) | (30,406 | ) | — | — | |||||||||||||||
Accrued discount/premium | 2,123 | 14 | 2,208 | — | — | — | ||||||||||||||||||
Transfers into Level 3 | — | — | — | — | — | — | ||||||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | — | ||||||||||||||||||
|
| �� |
|
|
|
|
|
|
|
|
|
| ||||||||||||
Balance as of 04/30/13 | $ | 3,429,424 | $ | — | $ | 905,926 | $ | 722,298 | $ | (2,415 | ) | $ | 348,209 | |||||||||||
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|
* | Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards and swap contracts, which are recorded at the unrealized appreciation/depreciation on the instrument. |
** | The realized gain incurred during the period for the other financial instruments was $21,730. |
*** | Of which, $370,711 was included in Net Assets relating to securities held at the reporting period end. |
Included in the table above, under Level 3, are securities that were fair valued using pricing methodologies approved by the Valuation Committee, which contain unobservable inputs. Such methodologies may include, but not limited to, using prices provided by a single broker/dealer, the cost of the investment, and prices of any recent transactions or bids/offers for such securities or any comparable securities.
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 69 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
The industry classification of portfolio holdings and other assets in excess of liabilities shown as a percentage of net assets as of April 30, 2013 was as follows:
Sovereigns | 55.8 | % | ||
Banking | 8.1 | |||
Residential Mortgage-Backed Securities | 5.8 | |||
Non-Corporate Foreign Agencies | 2.4 | |||
Cable | 1.9 | |||
Capital Goods | 1.8 | |||
Healthcare & Pharmaceutical | 1.8 | |||
Collateralized Loan Obligations, Debt Obligations and Other Asset Backed Securities | 1.8 | |||
Technology | 1.6 | |||
Media & Entertainment | 1.4 | |||
Foods | 1.2 | |||
Telecommunications | 1.1 | |||
Commercial Mortgage-Backed Securities | 1.0 | |||
Electric | 1.0 | |||
Insurance | 1.0 | |||
Non-Captive Finance | 0.9 | |||
Metals | 0.8 | |||
Affiliated Money Market Mutual Fund | 0.7 | |||
Pipelines & Other | 0.6 | |||
Automotive | 0.5 | |||
Municipal Bonds | 0.5 | |||
Retailers | 0.5 | % | ||
U.S. Treasury Securities | 0.5 | |||
Brokerage | 0.4 | |||
Building Materials & Construction | 0.4 | |||
Chemicals | 0.4 | |||
Energy—Integrated | 0.4 | |||
Gaming | 0.4 | |||
Healthcare Insurance | 0.4 | |||
Paper | 0.4 | |||
Tobacco | 0.4 | |||
Aerospace & Defense | 0.2 | |||
Airlines | 0.2 | |||
Packaging | 0.2 | |||
Real Estate Investment Trusts | 0.2 | |||
Consumer | 0.1 | |||
Energy—Other | 0.1 | |||
Lodging | 0.1 | |||
Railroads | 0.1 | |||
U.S. Government Agency Obligation | 0.1 | |||
|
| |||
97.2 | ||||
Other assets in excess of liabilities | 2.8 | |||
|
| |||
Net Assets | 100.0 | % | ||
|
|
See Notes to Financial Statements.
70 | Visit our website at www.prudentialfunds.com |
The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit risk, foreign exchange risk and interest rate risk. The effect of such derivative instruments on the Fund’s financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations is presented in the summary below.
Fair values of derivative instruments as of April 30, 2013 as presented in the Statement of Assets and Liabilities:
Derivatives not designated | Asset Derivatives | Liability Derivatives | ||||||||||
Balance | Fair Value | Balance | Fair Value | |||||||||
Credit contracts | Unrealized appreciation on swap agreements | $ | 3,212,229 | Unrealized depreciation on swap agreements | $ | 218,478 | ||||||
Credit contracts | Premiums paid for swap agreements | 291,011 | Premiums received for swap agreements | 3,615,842 | ||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 5,438,187 | Unrealized depreciation on forward foreign currency contracts | 3,273,465 | ||||||||
Interest rate contracts | Due from broker—variation margin | 1,082,533 | * | Due from broker—variation margin | 40,703 | * | ||||||
Interest rate contracts | Unrealized appreciation on forward rate agreements | 23,866 | — | — | ||||||||
Interest rate contracts | Unrealized appreciation on swap agreements | 7,131,369 | Unrealized depreciation on swap agreements | 2,429,965 | ||||||||
Interest rate contracts | Premiums paid for swap agreements | 39,412 | Premiums received for swap agreements | 854,828 | ||||||||
|
|
|
| |||||||||
Total | $ | 17,218,607 | $ | 10,433,281 | ||||||||
|
|
|
|
* | Includes cumulative appreciation/depreciation as reported in the schedule of open futures contracts. Only unsettled variation margin receivable (payable) is reported within the Statement of Assets and Liabilities. |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 71 |
Portfolio of Investments
as of April 30, 2013 (Unaudited) continued
The effects of derivative instruments on the Statement of Operations for the six months ended April 30, 2013 are as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||||||||||||||||||||
Derivatives not designated | Options Purchased | Options Written | Futures | Forward Currency Contracts | Swaps | Total | ||||||||||||||||||
Credit contracts | $ | — | $ | — | $ | — | $ | — | $ | 3,493 | $ | 3,493 | ||||||||||||
Foreign exchange contracts | (2,958,303 | ) | — | — | (11,073,004 | ) | — | (14,031,307 | ) | |||||||||||||||
Interest rate contracts | 39,908 | (9,900 | ) | 402,694 | — | 838,322 | 1,271,024 | |||||||||||||||||
|
|
|
|
|
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|
|
|
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| |||||||||||||
$ | (2,918,395 | ) | $ | (9,900 | ) | $ | 402,694 | $ | (11,073,004 | ) | $ | 841,815 | $ | (12,756,790 | ) | |||||||||
|
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|
|
|
|
|
|
|
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | ||||||||||||||||||||||||
Derivatives not designated | Options Purchased | Futures | Forward Currency Contracts | Forward Rate Agreements | Swaps | Total | ||||||||||||||||||
Credit contracts | $ | — | $ | — | $ | — | $ | — | $ | 516,366 | $ | 516,366 | ||||||||||||
Foreign exchange contracts | 830,777 | — | 4,354,932 | — | — | 5,185,709 | ||||||||||||||||||
Interest rate contracts | — | 508,822 | — | 23,866 | 2,150,427 | 2,683,115 | ||||||||||||||||||
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| |||||||||||||
$ | 830,777 | $ | 508,822 | $ | 4,354,932 | $ | 23,866 | $ | 2,666,793 | $ | 8,385,190 | |||||||||||||
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|
|
For the six months ended April 30, 2013, the Fund’s average volume of derivative activities are as follows:
Options Purchased (Cost) | Futures Long Positions (Value at Trade Date) | Futures Short Positions (Value at Trade Date) | Forward Currency Contracts— Purchased (Value at Settlement Date Payable) | Forward Currency Contracts— Sold (Value at Settlement Date Receivable) | ||||||||||||||
$ | 1,138,285 | $ | 81,602,229 | $ | 53,792,121 | $ | 411,371,618 | $ | 261,485,679 |
Forward Rate Agreements (Notional Amount in USD (000)) | Interest Rate Swaps (Notional Amount in USD (000)) | Credit Default Swaps as Buyer (Notional Amount in USD (000)) | Credit Default Swaps as Writer (Notional Amount in USD (000)) | Currency Swaps (Notional Amount in USD (000)) | Inflation Swaps (Notional Amount in USD (000)) | |||||||||||||||||
$ | 26,912 | $ | 314,507 | $ | 21,273 | $ | 50,717 | $ | 35,924 | $ | 8,900 |
See Notes to Financial Statements.
72 | Visit our website at www.prudentialfunds.com |
PRUDENTIAL INVESTMENTS»MUTUAL FUNDS
FINANCIAL STATEMENTS
(UNAUDITED)
SEMIANNUAL REPORT · APRIL 30, 2013
Prudential Global Total Return Fund, Inc.
Statement of Assets and Liabilities
as of April 30, 2013 (Unaudited)
Assets | ||||
Investments at value: | ||||
Unaffiliated Investments (cost $306,500,333) | $ | 326,905,823 | ||
Affiliated Investments (cost $2,454,975) | 2,454,975 | |||
Foreign currency, at value (cost $272,752) | 274,413 | |||
Cash | 149,199 | |||
Unrealized appreciation on swap agreements | 10,343,598 | |||
Unrealized appreciation on forward foreign currency contracts | 5,438,187 | |||
Dividends and interest receivable | 4,722,400 | |||
Receivable for Fund shares sold | 1,556,553 | |||
Receivable for investments sold | 384,610 | |||
Premiums paid for swap agreements | 330,423 | |||
Foreign tax reclaim receivable | 38,860 | |||
Unrealized appreciation on forward rate agreements | 23,866 | |||
Due from broker—variation margin | 2,423 | |||
Prepaid expenses | 1,415 | |||
|
| |||
Total assets | 352,626,745 | |||
|
| |||
Liabilities | ||||
Premiums received for swap agreements | 4,470,670 | |||
Unrealized depreciation on forward foreign currency contracts | 3,273,465 | |||
Unrealized depreciation on swap agreements | 2,648,443 | |||
Payable for Fund shares reacquired | 1,569,292 | |||
Payable for investments purchased | 1,171,172 | |||
Dividends payable | 261,557 | |||
Accrued expenses | 233,271 | |||
Management fee payable | 177,582 | |||
Distribution fee payable | 78,498 | |||
Affiliated transfer agent fee payable | 18,356 | |||
|
| |||
Total liabilities | 13,902,306 | |||
|
| |||
Net Assets | $ | 338,724,439 | ||
|
| |||
Net assets were comprised of: | ||||
Common stock, at par | $ | 466,692 | ||
Paid-in capital in excess of par | 325,198,425 | |||
|
| |||
325,665,117 | ||||
Distributions in excess of net investment income | (998,749 | ) | ||
Accumulated net realized loss on investment and foreign currency transactions | (17,245,040 | ) | ||
Net unrealized appreciation on investments and foreign currencies | 31,303,111 | |||
|
| |||
Net assets, April 30, 2013 | $ | 338,724,439 | ||
|
|
See Notes to Financial Statements.
74 | Visit our website at www.prudentialfunds.com |
Class A | ||||
Net asset value and redemption price per share | $ | 7.25 | ||
Maximum sales charge (4.50% of offering price) | 0.34 | |||
|
| |||
Maximum offering price to public | $ | 7.59 | ||
|
| |||
Class B | ||||
Net asset value, offering price and redemption price per share | $ | 7.26 | ||
|
| |||
Class C | ||||
Net asset value, offering price and redemption price per share | $ | 7.24 | ||
|
| |||
Class Q | ||||
Net asset value, offering price and redemption price per share | $ | 7.28 | ||
|
| |||
Class Z | ||||
Net asset value, offering price and redemption price per share | $ | 7.28 | ||
|
|
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 75 |
Statement of Operations
Six Months Ended April 30, 2013 (Unaudited)
Net Investment Income | ||||
Income | ||||
Interest (net of foreign withholding taxes of $1,282) | $ | 6,661,029 | ||
Affiliated dividend income | 4,164 | |||
Unaffiliated dividend income | 3,937 | |||
|
| |||
Total income | 6,669,130 | |||
|
| |||
Expenses | ||||
Management fee | 1,048,447 | |||
Distribution fee—Class A | 232,796 | |||
Distribution fee—Class B | 36,494 | |||
Distribution fee—Class C | 188,021 | |||
Transfer agent’s fees and expenses (including affiliated expense of $23,900) | 190,000 | |||
Custodian’s fees and expenses | 162,000 | |||
Registration fees | 51,000 | |||
Reports to shareholders | 39,000 | |||
Audit fee | 30,000 | |||
Legal fees and expenses | 12,000 | |||
Directors’ fees | 7,000 | |||
Insurance | 3,000 | |||
Loan interest expense (Note 7) | 173 | |||
Miscellaneous | 9,650 | |||
|
| |||
Total expenses | 2,009,581 | |||
|
| |||
Net investment income | 4,659,549 | |||
|
| |||
Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions | ||||
Net realized gain (loss) on: | ||||
Investment transactions | (910,016 | ) | ||
Foreign currency transactions | (8,671,622 | ) | ||
Financial futures transactions | 402,694 | |||
Swap agreement transactions | 841,815 | |||
Options written transactions | (9,900 | ) | ||
|
| |||
(8,347,029 | ) | |||
|
| |||
Net change in unrealized appreciation (depreciation) on: | ||||
Investments (net of change in foreign capital gains taxes $1,078) | 4,554,381 | |||
Foreign currencies | 4,355,824 | |||
Financial futures contracts | 508,822 | |||
Forward rate agreements | 23,866 | |||
Swap agreements | 2,666,793 | |||
|
| |||
12,109,686 | ||||
|
| |||
Net gain on investment and foreign currency transactions | 3,762,657 | |||
|
| |||
Net Increase In Net Assets Resulting From Operations | $ | 8,422,206 | ||
|
|
See Notes to Financial Statements.
76 | Visit our website at www.prudentialfunds.com |
Statement of Changes in Net Assets
(Unaudited)
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | |||||||
Increase (Decrease) In Net Assets | ||||||||
Operations | ||||||||
Net investment income | $ | 4,659,549 | $ | 7,923,220 | ||||
Net realized gain (loss) on investment and foreign currency transactions | (8,347,029 | ) | 1,283,657 | |||||
Net change in unrealized appreciation (depreciation) on investments and foreign currencies | 12,109,686 | 11,503,741 | ||||||
|
|
|
| |||||
Net increase in net assets resulting from operations | 8,422,206 | 20,710,618 | ||||||
|
|
|
| |||||
Dividends and Distributions (Note 1) | ||||||||
Dividends from net investment income* | ||||||||
Class A | (3,614,203 | ) | (6,600,695 | ) | ||||
Class B | (113,990 | ) | (190,197 | ) | ||||
Class C | (589,293 | ) | (897,888 | ) | ||||
Class Q | (226 | ) | (272 | ) | ||||
Class Z | (1,881,271 | ) | (2,411,147 | ) | ||||
|
|
|
| |||||
(6,198,983 | ) | (10,100,199 | ) | |||||
|
|
|
| |||||
Tax Return of Capital Distributions | ||||||||
Class A | — | (610,548 | ) | |||||
Class B | — | (17,593 | ) | |||||
Class C | — | (83,053 | ) | |||||
Class Q | — | (25 | ) | |||||
Class Z | — | (223,025 | ) | |||||
|
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| |||||
— | (934,244 | ) | ||||||
|
|
|
| |||||
Fund share transactions (Net of share conversions) (Note 6) | ||||||||
Net proceeds from shares sold | 94,950,543 | 152,201,551 | ||||||
Net asset value of shares issued in reinvestment of dividends | 4,622,021 | 8,181,155 | ||||||
Cost of shares reacquired | (63,864,310 | ) | (90,078,057 | ) | ||||
|
|
|
| |||||
Net increase in net assets from Fund share transactions | 35,708,254 | 70,304,649 | ||||||
|
|
|
| |||||
Total increase | 37,931,477 | 79,980,824 | ||||||
Net Assets: | ||||||||
Beginning of period | 300,792,962 | 220,812,138 | ||||||
|
|
|
| |||||
End of period(a) | $ | 338,724,439 | $ | 300,792,962 | ||||
|
|
|
| |||||
(a) Includes undistributed net investment income of: | $ | — | $ | 540,685 | ||||
|
|
|
|
* | Dividends from net investment income may include other items that are ordinary income for tax purposes. |
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 77 |
Notes to Financial Statements
(Unaudited)
Prudential Global Total Return Fund, Inc. (the “Fund”) is an open-end management investment company, registered under the Investment Company Act of 1940, as amended (“1940 Act”). The Fund’s investment objective is to seek total return, made up of current income and capital appreciation. The Fund is a non-diversified fund.
Note 1. Accounting Policies
The following is a summary of significant accounting policies followed by the Fund in the preparation of the financial statements.
Securities Valuation: The Fund holds portfolio securities and other assets that are fair valued at the close of each day the New York Stock Exchange (“NYSE”) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Directors (the “Board”) has delegated fair valuation responsibilities to Prudential Investments LLC (“PI” or “Manager”) through the adoption of Valuation Procedures for valuation of the Fund’s securities. Under the current Valuation Procedures, a Valuation Committee is established and responsible for supervising the valuation of portfolio securities and other assets. The Valuation Procedures allow the Fund to utilize independent pricing vendor services, quotations from market makers and other valuation methods in events when market quotations are not readily available or not representative of the fair value of the securities. A record of the Valuation Committee’s actions is subject to review, approval and ratification by the Board at its next regularly scheduled quarterly meeting.
Various inputs are used in determining the value of the Fund’s investments, which are summarized in the three broad level hierarchies based on any observable inputs used as described in the table following the Portfolio of Investments. The valuation methodologies and significant inputs used in determining the fair value of securities and other assets classified as Level 1, Level 2 and Level 3 of the hierarchy are as follows:
Common stocks, exchange-traded funds and financial derivative instruments (including futures contracts and certain options and swap contracts on securities), that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued
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at the last sale price or NASDAQ official closing price, they are classified as Level 1 of the fair value hierarchy.
In the event there is no sale or official closing price on such day, these securities are valued at the mean between the last reported bid and asked prices, or at the last bid price in absence of an asked price. These securities are classified as Level 2 of the fair value hierarchy as these inputs are considered as significant other observable inputs to the valuation.
For common stocks traded on foreign securities exchanges, certain valuation adjustments will be applied when events occur after the close of the security’s foreign market and before the Fund’s normal pricing time. These securities are valued using pricing vendor services that provide model prices derived using adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable. Securities valued using such model prices are classified as Level 2 of the fair value hierarchy as the adjustment factors are considered as significant other observable inputs to the valuation.
Investments in open-end, non-exchange-traded mutual funds are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 as they have the ability to be purchased or sold at their net asset values on the date of valuation.
Fixed income securities traded in the over-the-counter market, such as corporate bonds, municipal bonds, U.S. Government agencies issues and guaranteed obligations, U.S. Treasury obligations and sovereign issues are usually valued at prices provided by approved independent pricing vendors. The pricing vendors provide these prices usually after evaluating observable inputs including yield curves, credit rating, yield spreads, default rates, cash flows as well as broker/dealer quotations and reported trades. Securities valued using such vendor prices are classified as Level 2 of the fair value hierarchy.
Asset-backed and mortgage-related securities are usually valued by approved independent pricing vendors. The pricing vendors provide the prices using their internal pricing models with inputs from deal terms, tranche level attributes, yield curves, prepayment speeds, default rates and broker/dealer quotes. Securities valued using such vendor prices are classified as Level 2 of the fair value hierarchy.
Short-term debt securities of sufficient credit quality, which mature in sixty days or less, are valued using amortized cost method, which approximates fair value. The
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Notes to Financial Statements
(Unaudited) continued
amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. These securities are categorized as Level 2 of the fair value hierarchy.
Over-the-counter financial derivative instruments, such as option contracts, foreign currency contracts and swaps agreements, are usually valued using pricing vendor services, which derive the valuation based on underlying asset prices, indices, spreads, interest rates, exchange rates and other inputs. These instruments are categorized as Level 2 of the fair value hierarchy.
Securities and other assets that cannot be priced using the methods described above are valued with pricing methodologies approved by the Valuation Committee. In the event there are unobservable inputs used when determining such valuations, the securities will be classified as Level 3 of the fair value hierarchy.
When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset values.
Restricted and Illiquid Securities: The Fund may invest up to 15% of its net assets in illiquid securities. Illiquid securities are those that, because of the absence of a readily available market or due to legal or contractual restrictions on resale, cannot be sold within seven days in the ordinary course of business at approximately the amount at which the Fund has valued the investment. Therefore, the Fund may find it difficult to sell illiquid securities at the time considered most advantageous by its Subadviser and may incur expenses that would not be incurred in the sale of securities that were freely marketable. Certain securities that would otherwise be considered illiquid because of legal restrictions on resale to the general public may be traded among qualified institutional buyers under Rule 144A of the Securities Act of 1933. These
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Rule 144A securities, as well as commercial paper that is sold in private placements under Section 4(2) of the Securities Act, may be deemed liquid by the Fund’s Subadviser under the guidelines adopted by the Fund. However, the liquidity of the Fund’s investments in Rule 144A securities could be impaired if trading does not develop or declines.
Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:
(i) market value of investment securities, other assets and liabilities-at the current rates of exchange.
(ii) purchases and sales of investment securities, income and expenses-at the rates of exchange prevailing on the respective dates of such transactions.
Although the net assets of the Fund are presented at the foreign exchange rates and market values at the close of the period, the Fund does not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities sold during the period. Accordingly, these realized foreign currency gains or losses are included in the reported net realized gains or losses on investment transactions.
Net realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from sales and maturities of short-term securities and forward currency contracts, disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of interest, discount and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains or losses from valuing foreign currency denominated assets and liabilities (other than investments) at period end exchange rates are reflected as a component of net unrealized appreciation (depreciation) on foreign currencies.
Concentration of Risk: The ability of issuers of debt securities (other than those issued or guaranteed by the U.S. Government) held by the Fund to meet its obligations may be affected by the economic or political developments in a specific industry, region or country. Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of U.S. companies as a
Prudential Global Total Return Fund, Inc. | 81 |
Notes to Financial Statements
(Unaudited) continued
result of, among other factors, the possibility of political or economic instability or the level of governmental supervision and regulation of foreign securities markets.
Financial Futures Contracts: A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the “initial margin.” Subsequent payments, known as “variation margin,” are made or received by the Fund each day, depending on the daily fluctuations in the value of the underlying security. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain (loss). When the contract expires or is closed, the gain (loss) is realized and is presented in the Statement of Operations as net realized gain (loss) on financial futures transactions.
The Fund invested in financial futures contracts in order to hedge its existing portfolio securities, or securities the Fund intends to purchase, against fluctuations in value caused by changes in prevailing interest rates or foreign currency exchange rates. Should interest rates move unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Financial futures contracts involve elements of risk in excess of the amounts reflected on the Statement of Assets and Liabilities.
Forward Currency Contracts: A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate between two parties. The Fund enters into forward currency contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings or specific receivables and payables denominated in a foreign currency. The contracts are valued daily at current exchange rates and any unrealized gain or loss is included in net unrealized appreciation or depreciation on foreign currencies. Gain or loss is realized on the settlement date of the contract equal to the difference between the settlement value of the original and negotiated forward contracts. This gain or loss, if any, is included in net realized gain (loss) on foreign currency transactions. Risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts. Forward
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currency contracts involve risks from currency exchange rate and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. The Fund’s maximum risk of loss from counterparty credit risk is the net value of the cash flows to be received from the counterparty at the end of the contract’s life. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable.
Options: The Fund purchased and wrote options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates or foreign currency exchange rates, with respect to securities which the Fund currently owns or intends to purchase. The Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When the Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, the Fund realizes a gain or loss to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether the Fund has realized a gain or loss. The difference between the premium and the amount received or paid at the closing of a purchase or sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in net realized gain or loss on investment transactions. Gain or loss on written options is presented separately as net realized gain or loss on options written. The Fund, as writer of an option, may have no control over whether the underlying securities may be sold (called) or purchased (put). As a result, the Fund bears the market risk of an unfavorable change in the price of the security underlying the written option. The Fund, as purchaser of an over-the-counter option, bears the risk of the potential inability of the counterparties to meet the terms of their contracts.
With exchange-traded futures and options contracts, there is minimal counterparty credit risk to the Fund since the exchanges’ clearinghouse acts as counterparty to all exchange traded futures and options and guarantees the futures and options contracts against default.
Forward Rate Agreements: Forward rate agreements represent an agreement between counterparties to exchange cash flows based on the difference between two interest
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Notes to Financial Statements
(Unaudited) continued
rates, applied to a notional principal amount on a fixed future date. The Fund entered into forward rate agreements to gain yield exposure based on anticipated market conditions at the specified termination date of the agreement.
Swap Agreements: The Fund entered into credit default, interest rate and other forms of swap agreements. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are negotiated in the over-the-counter market and may be executed either directly with counterparty (“OTC Traded”) or through a central clearing facility, such as a registered commodities exchange (“Exchange Traded”). The swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation or depreciation on investments. Payments received or paid by the Fund are recorded as realized gains or losses upon termination or maturity of the swap. Risk of loss may exceed amounts recognized on the Statements of Assets and Liabilities. Swap agreements outstanding at period end, if any, are listed on the Portfolio of Investments.
Credit Default Swaps: Credit default swaps involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified payment in the event of a default or as a result of a default (collectively a “credit event”) for the referenced entity, typically corporate issues or sovereign issues of an emerging country, on its obligation; or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index.
The Fund is subject to credit risk in the normal course of pursuing its investment objectives. The Fund entered into credit default swaps to provide a measure of protection against defaults of the issuers. The Fund’s maximum risk of loss from counterparty credit risk for purchased credit default swaps is the inability of the counterparty to honor the contract up to the notional value based on a credit event. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable.
As a seller of protection on credit default swap agreements, the Fund will generally receive from the buyer of protection an agreed upon payment throughout the term of
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the swap provided that there is no credit event. As the seller, the Fund would effectively increase investment risk to its portfolio because, in addition to its total net assets, the Fund may be subject to investment exposure on the notional amount of the swap.
The maximum amount of the payment that the Fund as a seller of protection could be required to make under a credit default swap agreement would be equal to the notional amount of the underlying security or index contract as a result of a credit event. These potential amounts will be partially offset by any recovery values of the respective referenced obligations, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the Fund for the same referenced entity or index. As a buyer of protection, the Fund generally receives an amount up to the notional value of the swap if a credit event occurs.
Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of an emerging country as of period end are disclosed in the footnotes to the Portfolio of Investments, if applicable, and 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 upfront payments required to enter into the agreement. For credit default swap agreements on asset-backed securities and credit indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Wider credits spreads and increasing market value in absolute terms, when compared to the notional amount of the swap, 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 Swaps: Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund used interest rate swaps to maintain its ability to generate steady cash flow by receiving a stream of fixed rate payments and to increase exposure to prevailing market rates by receiving floating rate payments using interest rate swap contracts. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives.
Currency Swaps: The Fund entered into currency swap agreements primarily to gain yield exposure on foreign bonds. Currency swap agreements involve two parties exchanging two different currencies with an agreement to reverse the exchange at a later date at specified exchange rates.
Prudential Global Total Return Fund, Inc. | 85 |
Notes to Financial Statements
(Unaudited) continued
Inflation Swaps: The Fund entered into inflation swap agreements to provide a measure of protection against the effect of inflation on yield. Inflation swap agreements involve two parties exchanging cash flows at a later date at rates related to inflation indices.
The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable.
In addition to each instrument’s primary underlying risk exposure (e.g. interest rate, credit, equity or foreign exchange, etc.), swap agreements involve, to varying degrees, elements of credit, market and documentation risk. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreement may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreement, and that there will be unfavorable changes in net interest rates. In connection with these agreements, securities in the portfolio may be identified as collateral or received as collateral from the counterparty in accordance with the terms of the respective swap agreements to provide or receive assets of value and serve as recourse in the event of default or bankruptcy/insolvency of either party. Such over-the-counter derivative agreements include conditions which when materialized, give the counterparty the right to cause an early termination of the transactions under those agreements. Any election by the counterparty for early termination of the contract(s) may impact the amounts reported on financial statements. As of April 30, 2013, the Fund has not met conditions under such agreements, which give the counterparty the right to call for an early termination.
Forward currency contracts, forward rate agreements, swaps and financial futures contracts involve elements of both market and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities.
Lower rated or unrated securities are more likely to react to developments affecting market risk (general market liquidity) and credit risk (an issuer’s inability to meet principal and interest payments on its obligations) than are more highly rated securities, which react primarily to movements in the general level of interest rates.
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The ability of issuers of debt securities held by the Fund to meet their obligations may be affected by economic developments in a specific industry or region.
Securities Transactions and Net Investment Income: Securities transactions are recorded on the trade date. Realized gains or losses from investment and currency transactions are calculated on the identified cost basis. Dividend income is recorded on the ex-dividend date. Interest income, including amortization of premium and accretion of discount on debt securities, as required, is recorded on an accrual basis. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual.
Net investment income or loss (other than distribution fees which are charged directly to the respective class) and unrealized and realized gains or losses are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day.
Dividends and Distributions: The Fund declares dividends from net investment income daily and payment is made monthly. Distributions from net realized capital and currency gains, if any, are paid annually. Foreign currency losses may reduce the amount of dividends of net investment income. Dividends and distributions are determined in accordance with federal income tax regulations which may differ from generally accepted accounting principles. Permanent book/tax differences relating to income and gains are reclassified to paid-in capital when they arise.
Taxes: For federal income tax purposes, the Fund is treated as a separate taxpaying entity. It is the Fund’s policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable net income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign interest are recorded, net of reclaimable amounts, at the time the related income is earned.
Estimates: The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those amounts.
Note 2. Agreements
The Fund has a management agreement with PI. Pursuant to this agreement, PI has responsibility for all investment advisory services and supervises the subadvisor’s performance of such services. PI has entered into a subadvisory agreement with Prudential Investment Management, Inc. (“PIM”). The subadvisory agreement
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Notes to Financial Statements
(Unaudited) continued
provides that PIM will furnish investment advisory services in connection with the management of the Fund. In connection therewith, PIM is obligated to keep certain books and records of the Fund. PI pays for the services of PIM, the cost of compensation of officers of the Fund, occupancy and certain clerical and bookkeeping costs of the Fund. The Fund bears all other costs and expenses.
The management fee paid to PI is accrued daily and payable monthly at an annual rate of ..65% of the Fund’s average daily net assets up to $1 billion and .60% of such assets in excess of $1 billion. The effective management fee rate was .65% for the six months ended April 30, 2013.
PI has voluntarily agreed to reimburse the Fund in order to limit operating expenses (excluding distribution and service (12b-1) fees, interest, taxes, brokerage commissions and certain extraordinary expenses) to 1.10% of the Fund’s average daily net assets. For the six months ended April 30, 2013, the Fund did not exceed the 1.10% expense limit.
The Fund has a distribution agreement with Prudential Investment Management Services LLC (“PIMS”), which acts as the distributor of the Class A, Class B, Class C, Class Q and Class Z shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund’s Class A, Class B and Class C shares, pursuant to plans of distribution (the “Class A, B and C Plans”), regardless of expenses actually incurred by PIMS. The distribution fees are accrued daily and payable monthly. No distribution or service fees are paid to PIMS as distributor of the Class Q and Class Z shares of the Fund. Pursuant to the Class A, B and C plans, the Fund compensates PIMS for distribution related activities at an annual rate of up to .30%, 1% and 1% of the average daily net assets of the Class A, B, and C shares, respectively. Through February 28, 2014, PIMS has contractually agreed to limit such fees to .25% of the average daily net assets of the Class A shares.
PIMS has advised the Fund that it has received $203,244 in front-end sales charges resulting from sales of Class A shares during the six months ended April 30, 2013. From these fees, PIMS paid such sales charges to affiliated broker-dealers, which in turn paid commissions to salespersons and incurred other distribution costs.
PIMS has advised the Fund that for the six months ended April 30, 2013, it received $2,950, $8,883 and $3,202 in contingent deferred sales charges imposed upon redemptions by certain Class A, Class B and Class C shareholders, respectively.
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PI, PIM and PIMS are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. (“Prudential”).
Note 3. Other Transactions with Affiliates
Prudential Mutual Fund Services LLC (“PMFS”), an affiliate of PI and an indirect, wholly-owned subsidiary of Prudential, serves as the Fund’s transfer agent. Transfer agent’s fees and expenses in the Statement of Operations include certain out-of-pocket expenses paid to non-affiliates, where applicable.
The Fund invests in the Prudential Core Taxable Money Market Fund (the “Core Fund”), a portfolio of the Prudential Investment Portfolios 2, registered under the 1940 Act and managed by PI. Earnings from the Core Fund are disclosed on the Statement of Operations as affiliated dividend income.
Note 4. Portfolio Securities
Purchases and sales of portfolio securities, other than short-term investments and U.S. Government securities, for the six months ended April 30, 2013, were $103,599,019 and $78,138,916, respectively.
Transactions in options written during the six months ended April 30, 2013, were as follows:
Notional Amount | Premiums Received | |||||||
Options outstanding at October 31, 2012 | $ | — | $ | — | ||||
Options written | 5,164,000 | 18,236 | ||||||
Options terminated in closing purchase transactions | (5,164,000 | ) | (18,236 | ) | ||||
Options expired | — | — | ||||||
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Options outstanding at April 30, 2013 | $ | — | $ | — | ||||
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Note 5. Tax Information
The United States federal income tax basis of the Fund’s investments and the net unrealized appreciation as of April 30, 2013 were as follows:
Tax Basis | Appreciation | Depreciation | Net | |||
$313,335,107 | $18,808,561 | $(2,782,870) | $16,025,691 |
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Notes to Financial Statements
(Unaudited) continued
The difference between book and tax basis is primarily attributable to deferred losses on wash sales and difference in the treatment of amortization of premiums as of the most recent fiscal year end.
Under the Regulated Investment Company Modernization Act of 2010 (“the Act”), the Fund is permitted to carryforward capital losses incurred in the fiscal year ended October 31, 2012 (“post-enactment losses”) for an unlimited period. Post-enactment losses are required to be utilized before the utilization of losses incurred prior to the effective date of the Act. As a result of this ordering rule, capital loss carryforwards related to taxable years ending before October 31, 2012 (“pre-enactment losses”) may have an increased likelihood to expire unused. The Fund utilized approximately $2,316,000 of its pre-enactment losses to offset net taxable gains realized in the fiscal year ended October 31, 2012. No capital gains distributions are expected to be paid to shareholders until net gains have been realized in excess of such losses. As of October 31, 2012, the pre and post-enactment losses were approximately:
Post-Enactment Losses: | $ | 0 | ||
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Pre-Enactment Losses: | ||||
Expiring 2016 | $ | 4,579,000 | ||
Expiring 2017 | 2,476,000 | |||
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$ | 7,055,000 | |||
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Management has analyzed the Fund’s tax positions taken on federal income tax returns for all open tax years and has concluded that no provision for income tax is required in the Fund’s financial statements for the current reporting period. The Fund’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.
Note 6. Capital
The Fund offers Class A, Class B, Class C, Class Q and Class Z shares. Class A shares are sold with a front-end sales charge of up to 4.50%. All investors who purchase Class A shares in an amount of $1 million or more and sell these shares within 12 months of purchase are subject to a contingent deferred sales charge (“CDSC”) of 1%, although the CDSC is waived for purchases by certain retirement and/or benefit plans. Class B shares are sold with a CDSC which declines from 5% to zero
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depending on the period of time the shares are held. Class B shares automatically convert to Class A shares on a quarterly basis approximately seven years after purchase. Class C shares are sold with a CDSC of 1% on shares redeemed within the first 12 months after purchase. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class Q and Class Z shares are not subject to any sales or redemption charge and are offered exclusively for sale to a limited group of investors.
Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of common stock.
There are 2 billion authorized shares of common stock at $.01 par value per share, designated Class A, Class B, Class C, Class Q and Class Z, each of which consists of 500 million, 200 million, 400 million, 400 million and 500 million authorized shares, respectively.
As of April 30, 2013, Prudential Financial, Inc. through its affiliates owned 1,509 Class Q shares of the Fund.
Transactions in shares of common stock were as follows:
Class A | Shares | Amount | ||||||
Six months ended April 30, 2013: | ||||||||
Shares sold | 5,873,127 | $ | 42,100,678 | |||||
Shares issued in reinvestment of dividends | 396,826 | 2,847,293 | ||||||
Shares reacquired | (3,615,470 | ) | (25,943,289 | ) | ||||
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Net increase (decrease) in shares outstanding before conversion | 2,654,483 | 19,004,682 | ||||||
Shares issued upon conversion from Class B and Z | 42,427 | 299,365 | ||||||
Shares reacquired upon conversion into Class Z | (120,861 | ) | (859,437 | ) | ||||
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Net increase (decrease) in shares outstanding | 2,576,049 | $ | 18,444,610 | |||||
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Year ended October 31, 2012: | ||||||||
Shares sold | 9,649,370 | $ | 66,221,366 | |||||
Shares issued in reinvestment of dividends | 840,103 | 5,757,402 | ||||||
Shares reacquired | (8,020,577 | ) | (54,784,066 | ) | ||||
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Net increase (decrease) in shares outstanding before conversion | 2,468,896 | 17,194,702 | ||||||
Shares issued upon conversion from Class B and Z | 73,630 | 504,762 | ||||||
Shares reacquired upon conversion into Class Z | (24,177 | ) | (163,934 | ) | ||||
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Net increase (decrease) in shares outstanding | 2,518,349 | $ | 17,535,530 | |||||
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Notes to Financial Statements
(Unaudited) continued
Class B | Shares | Amount | ||||||
Six months ended April 30, 2013: | ||||||||
Shares sold | 277,271 | $ | 1,985,663 | |||||
Shares issued in reinvestment of dividends | 10,525 | 75,578 | ||||||
Shares reacquired | (94,904 | ) | (677,187 | ) | ||||
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Net increase (decrease) in shares outstanding before conversion | 192,892 | 1,384,054 | ||||||
Shares reacquired upon conversion into Class A | (26,261 | ) | (187,579 | ) | ||||
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Net increase (decrease) in shares outstanding | 166,631 | $ | 1,196,475 | |||||
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| |||||
Year ended October 31, 2012: | ||||||||
Shares sold | 410,139 | $ | 2,826,554 | |||||
Shares issued in reinvestment of dividends | 20,247 | 138,645 | ||||||
Shares reacquired | (148,025 | ) | (1,017,877 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding before conversion | 282,361 | 1,947,322 | ||||||
Shares reacquired upon conversion into Class A | (64,015 | ) | (439,691 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 218,346 | $ | 1,507,631 | |||||
|
|
|
| |||||
Class C | ||||||||
Six months ended April 30, 2013: | ||||||||
Shares sold | 1,608,870 | $ | 11,530,058 | |||||
Shares issued in reinvestment of dividends | 59,922 | 429,241 | ||||||
Shares reacquired | (770,101 | ) | (5,484,908 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding before conversion | 898,691 | 6,474,391 | ||||||
Shares reacquired upon conversion into Class Z | (64,640 | ) | (459,782 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 834,051 | $ | 6,014,609 | |||||
|
|
|
| |||||
Year ended October 31, 2012: | ||||||||
Shares sold | 2,747,473 | $ | 18,846,010 | |||||
Shares issued in reinvestment of dividends | 99,322 | 679,917 | ||||||
Shares reacquired | (896,034 | ) | (6,166,575 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding before conversion | 1,950,761 | 13,359,352 | ||||||
Shares reacquired upon conversion into Class Z | (8,795 | ) | (61,900 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 1,941,966 | $ | 13,297,452 | |||||
|
|
|
| |||||
Class Q | ||||||||
Six months ended April 30, 2013: | ||||||||
Shares issued in reinvestment of dividends | 32 | $ | 226 | |||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 32 | $ | 226 | |||||
|
|
|
| |||||
Period ended October 31, 2012*: | ||||||||
Shares sold | 1,435 | $ | 10,000 | |||||
Shares issued in reinvestment of dividends | 42 | 297 | ||||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 1,477 | $ | 10,297 | |||||
|
|
|
|
92 | Visit our website at www.prudentialfunds.com |
Class Z | Shares | Amount | ||||||
Six months ended April 30, 2013: | ||||||||
Shares sold | 5,462,878 | $ | 39,334,144 | |||||
Shares issued in reinvestment of dividends | 176,357 | 1,269,683 | ||||||
Shares reacquired | (4,433,086 | ) | (31,758,926 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding before conversion | 1,206,149 | 8,844,901 | ||||||
Shares issued upon conversion from Class A and C | 184,782 | 1,319,219 | ||||||
Shares reacquired upon conversion into Class A | (15,517 | ) | (111,786 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 1,375,414 | $ | 10,052,334 | |||||
|
|
|
| |||||
Year ended October 31, 2012: | ||||||||
Shares sold | 9,288,412 | $ | 64,297,621 | |||||
Shares issued in reinvestment of dividends | 232,286 | 1,604,894 | ||||||
Shares reacquired | (4,087,278 | ) | (28,109,539 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding before conversion | 5,433,420 | 37,792,976 | ||||||
Shares issued upon conversion from Class A and C | 32,834 | 225,834 | ||||||
Shares reacquired upon conversion into Class A | (9,567 | ) | (65,071 | ) | ||||
|
|
|
| |||||
Net increase (decrease) in shares outstanding | 5,456,687 | $ | 37,953,739 | |||||
|
|
|
|
* | Commencement of offering was February 3, 2012. |
Note 7. Borrowings
The Fund, along with other affiliated registered investment companies (the “Funds”), is a party to a Syndicated Credit Agreement (“SCA”) with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The SCA provides for a commitment of $900 million for the period November 15, 2012 through November 14, 2013. The Funds pay an annualized commitment fee of 0.08% on the unused portion of the SCA. Prior to November 15, 2012, the Funds had another SCA with substantially similar terms. Interest on any borrowings under the SCA is paid at contracted market rates. The commitment fee for the unused amount is accrued daily and paid quarterly.
The Fund utilized the SCA during the six months ended April 30, 2013. The average daily balance for the 6 days that the Fund had loans outstanding during the period was approximately $714,000, borrowed at a weighted average interest rate of 1.45%. At April 30, 2013, the Fund did not have an outstanding loan amount.
Note 8. New Accounting Pronouncement
In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11 regarding “Disclosures about
Prudential Global Total Return Fund, Inc. | 93 |
Notes to Financial Statements
(Unaudited) continued
Offsetting Assets and Liabilities.” The amendments, which will be effective for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods, require an entity to disclose information about offsetting and related arrangements for assets and liabilities, financial instruments and derivatives that are either currently offset in accordance with current requirements or are subject to enforceable master netting arrangements or similar agreements. At this time, management is evaluating the implications of ASU No. 2011-11 and its impact on the financial statements has not yet been determined.
In June 2013, the FASB issued guidance that creates a two-tiered approach to assess whether an entity is an investment company. The guidance will also require an investment company to measure noncontrolling ownership interests in other investment companies at fair value and will require additional disclosures relating to investment company status, any changes thereto and information about financial support provided or contractually required to be provided to any of the investment company’s investees. The guidance is effective for financial statements with fiscal years beginning on or after December 15, 2013 and interim periods within those fiscal years. Management is evaluating the impact of this guidance on the Fund’s financial statement disclosures.
94 | Visit our website at www.prudentialfunds.com |
Financial Highlights
(Unaudited)
Class A Shares | ||||||||||||||||||||||||||
Six Months April 30, | Year Ended October 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
Per Share Operating Performance(a): | ||||||||||||||||||||||||||
Net Asset Value, Beginning Of Period | $7.21 | $6.99 | $7.42 | $7.20 | $5.76 | $7.00 | ||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||
Net investment income | .10 | .22 | .23 | .27 | .30 | .31 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investment and foreign currency transactions | .08 | .31 | .05 | .66 | 1.46 | (1.11 | ) | |||||||||||||||||||
Total from investment operations | .18 | .53 | .28 | .93 | 1.76 | (.80 | ) | |||||||||||||||||||
Less Dividends and Distributions: | ||||||||||||||||||||||||||
Dividends from net investment income* | (.14 | ) | (.28 | ) | (.71 | ) | (.71 | ) | (.32 | ) | (.44 | ) | ||||||||||||||
Tax return of capital distributions | - | (.03 | ) | - | - | - | - | |||||||||||||||||||
Total dividends and distributions | (.14 | ) | (.31 | ) | (.71 | ) | (.71 | ) | (.32 | ) | (.44 | ) | ||||||||||||||
Net asset value, end of period | $7.25 | $7.21 | $6.99 | $7.42 | $7.20 | $5.76 | ||||||||||||||||||||
Total Return(b): | 2.51% | 7.86% | 4.60% | 14.25% | 31.42% | (12.19)% | ||||||||||||||||||||
Ratios/Supplemental Data: | ||||||||||||||||||||||||||
Net assets, end of period (000) | $196,805 | $176,970 | $154,056 | $123,507 | $114,554 | $97,894 | ||||||||||||||||||||
Average net assets (000) | $187,778 | $162,268 | $125,292 | $112,110 | $103,462 | $119,545 | ||||||||||||||||||||
Ratios to average net assets(c): | ||||||||||||||||||||||||||
Expenses, including distribution and service (12b-1) fees(d) | 1.21% | (f) | 1.31% | 1.35% | (e) | 1.35% | (e) | 1.35% | (e) | 1.36% | (e) | |||||||||||||||
Net investment income | 2.93% | (f) | 3.17% | 3.28% | (e) | 3.97% | (e) | 4.78% | (e) | 4.55% | (e) | |||||||||||||||
Portfolio turnover rate | 36% | (g) | 97% | 203% | 117% | 164% | 292% |
(a) Calculated based on average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported, and includes reinvestment of dividends and distributions. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.
(c) Does not include expenses of the underlying portfolios in which the Fund invests.
(d) The distributor of the Fund has contractually agreed to limit its distribution and service (12b-1) fees to .25% of the average daily net assets of the Class A shares through February 28, 2014.
(e) The Manager of the Fund has agreed to reimburse the Fund in order to limit operating expenses (excluding interest, taxes and brokerage commissions and certain extraordinary expenses) to 1.35% of the average daily net assets of Class A. If the manager had not reimbursed the Fund, the expense ratios including distribution and service (12b-1) fees and net investment income ratios would be 1.44% and 4.47%, respectively, for the year ended October 31, 2008, 1.51% and 4.62%, respectively, for the year ended October 31, 2009, 1.42% and 3.90%, respectively, for the year ended October 31, 2010 and 1.39% and 3.24%, respectively, for the year ended October 31, 2011.
(f) Annualized.
(g) Not annualized.
* Dividends from net investment income include other items that are ordinary income for tax purposes.
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 95 |
Financial Highlights
(Unaudited) continued
Class B Shares | ||||||||||||||||||||||||||
Six Months Ended April 30, | Year Ended October 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
Per Share Operating Performance(a): | ||||||||||||||||||||||||||
Net Asset Value, Beginning Of Period | $7.21 | $6.99 | $7.41 | $7.19 | $5.76 | $6.98 | ||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||
Net investment income | .08 | .17 | .17 | .22 | .25 | .26 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investment and foreign currency transactions | .08 | .30 | .06 | .66 | 1.45 | (1.10 | ) | |||||||||||||||||||
Total from investment operations | .16 | .47 | .23 | .88 | 1.70 | (.84 | ) | |||||||||||||||||||
Less Dividends and Distributions: | ||||||||||||||||||||||||||
Dividends from net investment income* | (.11 | ) | (.22 | ) | (.65 | ) | (.66 | ) | (.27 | ) | (.38 | ) | ||||||||||||||
Tax return of capital distributions | - | (.03 | ) | - | - | - | - | |||||||||||||||||||
Total dividends and distributions | (.11 | ) | (.25 | ) | (.65 | ) | (.66 | ) | (.27 | ) | (.38 | ) | ||||||||||||||
Net asset value, end of period | $7.26 | $7.21 | $6.99 | $7.41 | $7.19 | $5.76 | ||||||||||||||||||||
Total Return(b): | 2.26% | 7.06% | 3.86% | 13.40% | 30.25% | (12.67)% | ||||||||||||||||||||
Ratios/Supplemental Data: | ||||||||||||||||||||||||||
Net assets, end of period (000) | $8,003 | $6,748 | $5,018 | $3,312 | $2,920 | $3,275 | ||||||||||||||||||||
Average net assets (000) | $7,359 | $5,744 | $3,465 | $3,082 | $2,927 | $3,957 | ||||||||||||||||||||
Ratios to average net assets(c): | ||||||||||||||||||||||||||
Expenses, including distribution and service (12b-1) fees | 1.96% | (e) | 2.06% | 2.10% | (d) | 2.10% | (d) | 2.10% | (d) | 2.11% | (d) | |||||||||||||||
Net investment income | 2.17% | (e) | 2.40% | 2.52% | (d) | 3.23% | (d) | 4.03% | (d) | 3.80% | (d) | |||||||||||||||
Portfolio turnover rate | 36% | (f) | 97% | 203% | 117% | 164% | 292% |
(a) Calculated based on average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported, and includes reinvestment of dividends and distributions. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.
(c) Does not include expenses of the underlying portfolios in which the Fund invests.
(d) The Manager of the Fund has agreed to reimburse the Fund in order to limit operating expenses (excluding interest, taxes and brokerage commissions and certain extraordinary expenses) to 2.10% of the average daily net assets of Class B. If the manager had not reimbursed the Fund, the expense ratios including distribution and service (12b-1) fees and net investment income ratios would be 2.19% and 3.72%, respectively, for the year ended October 31, 2008, 2.26% and 3.87%, respectively, for the year ended October 31, 2009, 2.17% and 3.16%, respectively, for the year ended October 31, 2010 and 2.14% and 2.48%, respectively, for the year ended October 31, 2011.
(e) Annualized.
(f) Not annualized.
* Dividends from net investment income include other items that are ordinary income for tax purposes.
See Notes to Financial Statements.
96 | Visit our website at www.prudentialfunds.com |
Class C Shares | ||||||||||||||||||||||||||
Six Months Ended April 30, | Year Ended October 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
Per Share Operating Performance(a): | ||||||||||||||||||||||||||
Net Asset Value, Beginning Of Period | $7.19 | $6.97 | $7.39 | $7.17 | $5.74 | $6.97 | ||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||
Net investment income | .08 | .17 | .17 | .23 | .27 | .28 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investment and foreign currency transactions | .08 | .31 | .07 | .67 | 1.45 | (1.10 | ) | |||||||||||||||||||
Total from investment operations | .16 | .48 | .24 | .90 | 1.72 | (.82 | ) | |||||||||||||||||||
Less Dividends and Distributions: | ||||||||||||||||||||||||||
Dividends from net investment income* | (.11 | ) | (.23 | ) | (.66 | ) | (.68 | ) | (.29 | ) | (.41 | ) | ||||||||||||||
Tax return of capital distributions | - | (.03 | ) | - | - | - | - | |||||||||||||||||||
Total dividends and distributions | (.11 | ) | (.26 | ) | (.66 | ) | (.68 | ) | (.29 | ) | (.41 | ) | ||||||||||||||
Net asset value, end of period | $7.24 | $7.19 | $6.97 | $7.39 | $7.17 | $5.74 | ||||||||||||||||||||
Total Return(b): | 2.27% | 7.08% | 4.00% | 13.75% | 30.73% | (12.51)% | ||||||||||||||||||||
Ratios/Supplemental Data: | ||||||||||||||||||||||||||
Net assets, end of period (000) | $40,256 | $33,988 | $19,408 | $6,180 | $4,236 | $3,702 | ||||||||||||||||||||
Average net assets (000) | $37,915 | $27,739 | $10,010 | $4,563 | $3,467 | $3,974 | ||||||||||||||||||||
Ratios to average net assets(c): | ||||||||||||||||||||||||||
Expenses, including distribution and service (12b-1) fees(d) | 1.96% | (f) | 2.06% | 2.05% | (e) | 1.85% | (e) | 1.85% | (e) | 1.86% | (e) | |||||||||||||||
Net investment income | 2.18% | (f) | 2.39% | 2.56% | (e) | 3.45% | (e) | 4.28% | (e) | 4.07% | (e) | |||||||||||||||
Portfolio turnover rate | 36% | (g) | 97% | 203% | 117% | 164% | 292% |
(a) Calculated based on average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported, and includes reinvestment of dividends and distributions. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.
(c) Does not include expenses of the underlying portfolios in which the Fund invests.
(d) The distributor of the Fund had contractually agreed to limit its distribution and service (12b-1) fees to .75% of the average daily net assets of the Class C shares through February 28, 2011.
(e) The Manager of the Fund has agreed to reimburse the Fund in order to limit operating expenses (excluding interest, taxes and brokerage commissions and certain extraordinary expenses) to 2.10% (1.85% through February 28, 2011) of the average daily net assets of Class C. If the manager had not reimbursed the Fund, the expense ratios including distribution and service (12b-1) fees and net investment income ratios would be 1.94% and 3.99%, respectively, for the year ended October 31, 2008, 2.01% and 4.12%, respectively, for the year ended October 31, 2009, 1.92% and 3.38%, respectively, for the year ended October 31, 2010 and 2.09% and 2.52%, respectively, for the year ended October 31, 2011.
(f) Annualized.
(g) Not annualized.
* Dividends from net investment income include other items that are ordinary income for tax purposes.
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 97 |
Financial Highlights
(Unaudited) continued
Class Q Shares | ||||||||||
Six Months Ended April 30, 2013 | February 3, 2012(d) through October 31, 2012 | |||||||||
Per Share Operating Performance(a): | ||||||||||
Net Asset Value, Beginning Of Period | $7.23 | $6.97 | ||||||||
Income from investment operations: | ||||||||||
Net investment income | .12 | .18 | ||||||||
Net realized and unrealized gain on investment and foreign currency transactions | .08 | .28 | ||||||||
Total from investment operations | .20 | .46 | ||||||||
Less Dividends and Distributions: | ||||||||||
Dividends from net investment income | (.15 | ) | (.19 | ) | ||||||
Tax return of capital distributions | - | (.01 | ) | |||||||
Total dividends and distributions | (.15 | ) | (.20 | ) | ||||||
Net asset value, end of period | $7.28 | $7.23 | ||||||||
Total Return(b): | 2.83% | 6.81% | ||||||||
Ratios/Supplemental Data: | ||||||||||
Net assets, end of period (000) | $11 | $11 | ||||||||
Average net assets (000) | $11 | $10 | ||||||||
Ratios to average net assets(c): | ||||||||||
Expenses, including distribution and service (12b-1) fees | .84% | (e) | .92% | (e) | ||||||
Net investment income | 3.30% | (e) | 3.42% | (e) | ||||||
Portfolio turnover rate | 36% | (f) | 97% | (f) |
(a) Calculated based on average shares outstanding during the period.
(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported, and includes reinvestment of dividends and distributions. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.
(c) Does not include expenses of the underlying portfolios in which the Fund invests.
(d) Commencement of offering.
(e) Annualized.
(f) Not annualized.
See Notes to Financial Statements.
98 | Visit our website at www.prudentialfunds.com |
Class Z Shares | ||||||||||||||||||||||||||
Six Months April 30, | Year Ended October 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
Per Share Operating Performance(a): | ||||||||||||||||||||||||||
Net Asset Value, Beginning Of Period | $7.23 | $7.01 | $7.44 | $7.22 | $5.78 | $7.02 | ||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||
Net investment income | .11 | .23 | .22 | .28 | .32 | .32 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investment and foreign currency transactions | .09 | .31 | .08 | .67 | 1.45 | (1.10 | ) | |||||||||||||||||||
Total from investment operations | .20 | .54 | .30 | .95 | 1.77 | (.78 | ) | |||||||||||||||||||
Less Dividends and Distributions: | ||||||||||||||||||||||||||
Dividends from net investment income* | (.15 | ) | (.29 | ) | (.73 | ) | (.73 | ) | (.33 | ) | (.46 | ) | ||||||||||||||
Tax return of capital distributions | - | (.03 | ) | - | - | - | - | |||||||||||||||||||
Total dividends and distributions | (.15 | ) | (.32 | ) | (.73 | ) | (.73 | ) | (.33 | ) | (.46 | ) | ||||||||||||||
Net asset value, end of period | $7.28 | $7.23 | $7.01 | $7.44 | $7.22 | $5.78 | ||||||||||||||||||||
Total Return(b): | 2.76% | 8.10% | 4.87% | 14.49% | 31.62% | (11.90)% | ||||||||||||||||||||
Ratios/Supplemental Data: | ||||||||||||||||||||||||||
Net assets, end of period (000) | $93,650 | $83,077 | $42,330 | $4,978 | $3,141 | $1,823 | ||||||||||||||||||||
Average net assets (000) | $92,206 | $58,999 | $12,813 | $3,507 | $1,942 | $2,147 | ||||||||||||||||||||
Ratios to average net assets(c): | ||||||||||||||||||||||||||
Expenses, including distribution and service (12b-1) fees | .96% | (e) | 1.06% | 1.10% | (d) | 1.10% | (d) | 1.10% | (d) | 1.11% | (d) | |||||||||||||||
Net investment income | 3.16% | (e) | 3.37% | 3.50% | (d) | 4.25% | (d) | 5.03% | (d) | 4.78% | (d) | |||||||||||||||
Portfolio turnover rate | 36% | (f) | 97% | 203% | 117% | 164% | 292% |
(a) Calculated based on average shares outstanding during the period.
(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported, and includes reinvestment of dividends and distributions. Total returns may reflect adjustments to conform to generally accepted accounting principles. Total returns for periods less than one full year are not annualized.
(c) Does not include expenses of the underlying portfolios in which the Fund invests.
(d) The Manager of the Fund has agreed to reimburse the Fund in order to limit operating expenses (excluding interest, taxes and brokerage commissions and certain extraordinary expenses) to 1.10% of the average daily net assets of Class Z. If the manager had not reimbursed the Fund, the expense ratios including distribution and service (12b-1) fees and net investment income ratios would be 1.19% and 4.70%, respectively, for the year ended October 31, 2008, 1.26% and 4.88%, respectively, for the year ended October 31, 2009, 1.17% and 4.18%, respectively, for the year ended October 31, 2010 and 1.14% and 3.46%, respectively, for the year ended October 31, 2011.
(e) Annualized.
(f) Not annualized.
* Dividends from net investment income include other items that are ordinary income for tax purposes.
See Notes to Financial Statements.
Prudential Global Total Return Fund, Inc. | 99 |
n MAIL | n TELEPHONE | n WEBSITE | ||
Gateway Center Three 100 Mulberry Street Newark, NJ 07102 | (800) 225-1852 | www.prudentialfunds.com |
PROXY VOTING |
The Board of Directors of the Fund has delegated to the Fund’s investment subadviser the responsibility for voting any proxies and maintaining proxy recordkeeping with respect to the Fund. A description of these proxy voting policies and procedures is available without charge, upon request, by calling (800) 225-1852 or by visiting the Securities and Exchange Commission’s website at www.sec.gov. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Fund’s website and on the Securities and Exchange Commission’s website. |
DIRECTORS |
Kevin J. Bannon • Scott E. Benjamin • Linda W. Bynoe • Michael S. Hyland • Douglas H. McCorkindale • Stephen P. Munn • Stuart S. Parker • Richard A. Redeker • Robin B. Smith • Stephen G. Stoneburn |
OFFICERS |
Stuart S. Parker, President • Scott E. Benjamin, Vice President • Grace C. Torres, Treasurer and Principal Financial and Accounting Officer • Raymond A. O’Hara, Chief Legal Officer • Deborah A. Docs, Secretary • Bruce Karpati, Chief Compliance Officer • Theresa C. Thompson, Deputy Chief Compliance Officer • Richard W. Kinville, Anti-Money Laundering Compliance Officer • Jonathan D. Shain, Assistant Secretary • Claudia DiGiacomo, Assistant Secretary • Amanda S. Ryan, Assistant Secretary • Andrew R. French, Assistant Secretary • M. Sadiq Peshimam, Assistant Treasurer • Peter Parrella, Assistant Treasurer |
MANAGER | Prudential Investments LLC | Gateway Center Three 100 Mulberry Street Newark, NJ 07102 | ||
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INVESTMENT SUBADVISER | Prudential Investment Management, Inc. | Gateway Center Two 100 Mulberry Street Newark, NJ 07102 | ||
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DISTRIBUTOR | Prudential Investment Management Services LLC | Gateway Center Three 100 Mulberry Street Newark, NJ 07102 | ||
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CUSTODIAN | The Bank of New York Mellon | One Wall Street New York, NY 10286 | ||
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TRANSFER AGENT | Prudential Mutual Fund Services LLC | PO Box 9658 Providence, RI 02940 | ||
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INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | KPMG LLP | 345 Park Avenue New York, NY 10154 | ||
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FUND COUNSEL | Willkie Farr & Gallagher LLP | 787 Seventh Avenue New York, NY 10019 |
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund. An investor may obtain a prospectus and summary prospectus by visiting our website at www.prudentialfunds.com or by calling (800) 225-1852. The prospectus and summary prospectus should be read carefully before investing. |
E-DELIVERY |
To receive your mutual fund documents online, go to www.prudentialfunds.com/edelivery and enroll. Instead of receiving printed documents by mail, you will receive notification via email when new materials are available. You can cancel your enrollment or change your email address at any time by visiting the website address above. |
SHAREHOLDER COMMUNICATIONS WITH DIRECTORS |
Shareholders can communicate directly with the Board of Directors by writing to the Chair of the Board, Prudential Global Total Return Fund, Inc., Prudential Investments, Attn: Board of Directors, 100 Mulberry Street, Gateway Center Three, Newark, NJ 07102. Shareholders can communicate directly with an individual Director by writing to the same address. Communications are not screened before being delivered to the addressee. |
AVAILABILITY OF PORTFOLIO SCHEDULE |
The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the Commission’s website at www.sec.gov. The Fund’s Forms N-Q may also be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation and location of the Public Reference Room may be obtained by calling (202) 551-8090. The Fund’s schedule of portfolio holdings is also available on the Fund’s website as of the end of each month. |
Mutual Funds:
ARE NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY | MAY LOSE VALUE | ARE NOT A DEPOSIT OF OR GUARANTEED BY ANY BANK OR ANY BANK AFFILIATE |
PRUDENTIAL GLOBAL TOTAL RETURN FUND, INC.
SHARE CLASS | A | B | C | Q | Z | |||||
NASDAQ | GTRAX | PBTRX | PCTRX | PGTQX | PZTRX | |||||
CUSIP | 74439A103 | 74439A202 | 74439A301 | 74439A509 | 74439A400 |
MF169E2 0246184-00001-00
Item 2 – Code of Ethics – Not required, as this is not an annual filing.
Item 3 – Audit Committee Financial Expert – Not required, as this is not an annual filing.
Item 4 – Principal Accountant Fees and Services – Not required, as this is not an annual filing.
Item 5 – Audit Committee of Listed Registrants – Not applicable.
Item 6 – Schedule of Investments – The schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not applicable.
Item 8 – Portfolio Managers of Closed-End Management Investment Companies – Not applicable.
Item 9 – | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not applicable. |
Item 10 – Submission of Matters to a Vote of Security Holders – Not applicable.
Item 11 – Controls and Procedures
(a) | It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
(b) | There has been no significant change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter of the period covered by this report that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12 – Exhibits
(a) | (1) Code of Ethics – Not required, as this is not an annual filing. |
(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.CERT.
(3) Any written solicitation to purchase securities under Rule 23c-1. – Not applicable.
(b) | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: | Prudential Global Total Return Fund, Inc. | |
By: | /s/ Deborah A. Docs | |
Deborah A. Docs | ||
Secretary | ||
Date: | June 20, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Stuart S. Parker | |
Stuart S. Parker | ||
President and Principal Executive Officer | ||
Date: | June 20, 2013 | |
By: | /s/ Grace C. Torres | |
Grace C. Torres | ||
Treasurer and Principal Financial Officer | ||
Date: | June 20, 2013 |