Anlageziel PGIM Global AAA CLO Fund W AUD Hedged Distribution Fonds

The investment objective of the Sub-Fund is to outperform the ICE BofA US 3-Month Treasury Bill Index (the “Benchmark”) over a full market cycle on a total return basis. The Benchmark tracks the performance of a single US 3-month Treasury bill issue purchased at the beginning of the month and held for a full month. The issue selected by the Benchmark at each month-end rebalancing is the outstanding Treasury bill that matures closest to, but not beyond, three months from the rebalancing date.