0000803191 pip7:S000004659Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000012682Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000012683Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000012684Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000109370Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000012681Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000038979Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:C000012685Member 2011-11-03 2012-11-02 0000803191 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:LipperMultiCapCoreFundsAverageMember 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member rr:AfterTaxesOnDistributionsMember pip7:C000012682Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member rr:AfterTaxesOnDistributionsAndSalesMember pip7:C000012682Member 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:RussellOneThousandValueIndexMember 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:SAndPFiveHundredIndexMember 2011-11-03 2012-11-02 0000803191 pip7:S000004659Member pip7:LipperLargeCapValueFundsAverageMember 2011-11-03 2012-11-02 pure iso4217:USD If Shares Are Redeemed 1108 959 959 346 805 Example. 1108 1059 959 959 428 2012-09-30 <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleShareholderFeesPRUDENTIALJENNISONVALUEFUND column period compact * ~</div> PRUDENTIAL JENNISON VALUE FUND Shareholder Fees (fees paid directly from your investment) 0.055 0 0 You may qualify for sales charge discounts if you and an eligible group of investors purchase, or agree to purchase in the future, $25,000 or more in shares of the Fund or other funds in the Prudential Investments family of funds. ° The distributor of the Fund has contractually agreed until December 31, 2013 to reduce its distribution and service (12b-1) fees for Class R shares to .50% of the average daily net assets of the Class R shares. This waiver may not be terminated by the distributor prior to December 31, 2013. The decision on whether to renew, modify or discontinue the waiver is subject to review by the distributor and the Fund's Board of Trustees. 805 346 1259 428 The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the Fund's most recent fiscal year, the Fund's portfolio turnover rate was 31% of the average value of its portfolio. www.prudentialfunds.com 0.2774 0.1073 <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleAnnualFundOperatingExpensesPRUDENTIALJENNISONVALUEFUND column period compact * ~</div> PRUDENTIAL INVESTMENT PORTFOLIOS 7 The tables below describe the sales charges, fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and an eligible group of investors purchase, or agree to purchase in the future, $25,000 or more in shares of the Fund or other funds in the Prudential Investments family of funds. More information about these discounts is available from your financial professional and is explained in Reducing or Waiving Class A's Initial Sales Charge on page 20 of the Fund's Prospectus and in the Fund's Statement of Additional Information (SAI), in Rights of Accumulation on page 42. 0 0 0 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0 0 25000 The following hypothetical example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest $10,000 in the Fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year, that the Fund's operating expenses remain the same and that all dividends and distributions are reinvested. Your actual costs may be higher or lower. 653 680 280 63 129 780 79 1784 2084 1813 774 1791 2084 954 The bar chart and Average Annual Total Returns table demonstrate the risk of investing in the Fund by showing how returns can change from year to year and by showing how the Fund's average annual total returns for the share class compare with a broad-based securities market index and a group of similar mutual funds. Average Annual Total Returns % (as of 12-31-11) 2005-06-03 2007-03-16 ° After-tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for the indicated share class. After-tax returns for other classes will vary due to differing sales charges and expenses. <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleAnnualTotalReturnsPRUDENTIALJENNISONVALUEFUNDBarChart column period compact * ~</div> <table style="border-left: black 1px solid; line-height: 10pt; width: 70%; border-collapse: collapse; font-family: Arial; empty-cells: show; margin-bottom: 15pt; font-size: 8pt; border-top: black 1px solid;" cellspacing="0" cellpadding="4" align="center"> <tr><td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="bottom" colspan="2" align="center">Best Quarter:</td> <td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="bottom" colspan="2" align="center">Worst Quarter:</td></tr> <tr><td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="top" align="center">18.93%</td> <td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="top" align="center">2nd Quarter 2009</td> <td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="top" align="center">-25.05%</td> <td style="border-bottom: black 1px solid; border-right: black 1px solid;" valign="top" align="center">4th Quarter 2008</td></tr></table> 485BPOS 2012-08-31 2012-11-02 INVESTMENT OBJECTIVE 0.01 0.05 0.01 0 0 0.06 0 0 0 0 0 0 0 0 0.0107 0.0177 0.0177 0.0062 0.0152 -0.0025 0 0 0 0 If Shares Are Not Redeemed 872 857 557 199 456 957 246 653 180 180 63 129 180 79 INVESTMENTS, RISKS AND PERFORMANCE Principal Investment Strategies. and is subject to investment risks, including possible loss of your original investment. -0.2191 -0.0606 2009-06-30 0.1893 2008-12-31 0.035 0.0271 0.0271 0.0374 0.0288 0.0208 0.0239 0.0389 0.0292 0.0287 After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. 0000803191 false 2012-11-02 2012-11-02 The investment objective of the Fund is capital appreciation. This means we seek investments whose value will increase. FUND FEES AND EXPENSES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15 0 0 15 15 15 0.0056 0.0056 0.0056 0.0056 0.0056 0.0056 0.0056 0.003 0.01 0.01 0 0.0075 0.01 0 0.0021 0.0021 0.0021 0.0006 0.0021 0.0021 0.0021 0.0177 0.0077 0.0107 0.0177 0.0177 0.0062 0.0127 0.0177 0.0077 December 31, 2013 1784 1813 2084 774 1791 2084 954 872 557 557 199 456 557 246 Portfolio Turnover. In pursuing the Fund's investment objective, we normally invest at least 65% of the Fund's total assets in the equity and equity-related securities of companies that we believe will provide investment returns above those of the Russell 1000 Value Index and, over the long term, the Standard & Poor's 500 Composite Stock Price Index (S&P 500 Index). The Fund follows a value investment style. Most of our investments are in large capitalization companies, which are companies with market capitalizations (measured at the time of purchase) of $1 billion or more. While we make every effort to achieve our objective, we can't guarantee success. Principal Risks of Investing in the Fund. All investments have risks to some degree. Please remember that an investment in the Fund is not guaranteed to achieve its investment objective; is not a deposit with a bank; is not insured, endorsed or guaranteed by the Federal Deposit Insurance Corporation or any other government agency; and is subject to investment risks, including possible loss of your original investment. Recent Market Events. The equity and debt capital markets in the United States and internationally have experienced unprecedented volatility. The financial crisis has caused a significant decline in the value and liquidity of many securities. This environment could make identifying investment risks and opportunities especially difficult for the investment subadviser. These market conditions may continue or get worse. In response to the crisis, the U.S. and other governments and the Federal Reserve and certain foreign central banks have taken steps to support financial markets. The withdrawal of this support could negatively affect the value and liquidity of certain securities. In addition, legislation recently enacted in the United States calls for changes in many aspects of financial regulation. The impact of the legislation on the markets, and the practical implications for market participants, may not be known for some time. Risk of Increase in Expenses. Your actual cost of investing in the Fund may be higher than the expenses shown in the expense table for a variety of reasons. For example, expense ratios may be higher than those shown if average net assets decrease. Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile. Value Style Risk. Since the Fund follows a value investment style, there is the risk that the value style may be out of favor for a period of time, that the market will not recognize a security's intrinsic value for a long time or that a stock judged to be undervalued may actually be appropriately priced. Historically, value stocks have performed best during periods of economic recovery. Equity and Equity-Related Securities Risks. There is the risk that the value of a particular security could go down and you could lose money. In addition to an individual security losing value, the value of the equity markets or a sector in which the Fund invests could go down. The Fund's holdings can vary significantly from broad market indexes and the performance of the Fund can deviate from the performance of these indexes. Different parts of a market can react differently to adverse issuer, market, regulatory, political and economic developments. The Fund may invest in companies that reinvest their earnings rather than distribute them to shareholders. To the extent the Fund does invest in such companies, the Fund is not likely to receive significant dividend income on its portfolio securities. Large Capitalization Company Risk. Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the Fund's value may not rise or fall as much as the value of funds that emphasize companies with smaller market capitalizations. Management Risk. Actively managed mutual funds are subject to management risk. The subadviser will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these techniques will produce the desired results. Additionally, the securities selected by the subadviser may underperform the markets in general, the Fund's benchmark and other mutual funds with similar investment objectives. Market Risk. Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Securities markets are volatile. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. Regardless of how well an individual investment performs, if financial markets go down, you could lose money. For more information on the risks of investing in this Fund, please see How the Fund Invests—Investment Risks in the Prospectus and Investment Risks and Considerations in the SAI. Please remember that an investment in the Fund is not guaranteed to achieve its investment objective; is not a deposit with a bank; is not insured, endorsed or guaranteed by the Federal Deposit Insurance Corporation or any other government agency; The Fund's Past Performance. The following bar chart shows the Fund's performance for the indicated share class for each full calendar year of operations or for the last 10 calendar years, whichever is shorter. The bar chart and Average Annual Total Returns table demonstrate the risk of investing in the Fund by showing how returns can change from year to year and by showing how the Fund's average annual total returns for the share class compare with a broad-based securities market index and a group of similar mutual funds. Past performance (before and after taxes) does not mean that the Fund will achieve similar results in the future. Updated Fund performance information is available online at www.prudentialfunds.com. Past performance (before and after taxes) does not mean that the Fund will achieve similar results in the future. Annual Total Returns (Class A Shares)1 0.1577 0.1619 0.1922 0.0243 -0.427 0.4109 0.13 The total return of Class A shares from 1-1-12 through 9-30-12 Best Quarter: Worst Quarter: -0.2505 -0.0339 -0.0324 -0.0276 -0.1143 -0.077 -0.0628 -0.1165 -0.0575 -0.1123 -0.1127 -0.0724 0.0039 0.0209 -0.0215 -0.0268 0.0248 -0.0272 After-tax returns are calculated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the indicated share class. After-tax returns for other classes will vary due to differing sales charges and expenses. <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleExpenseExampleTransposedPRUDENTIALJENNISONVALUEFUND column period compact * ~</div> These annual total returns do not include sales charges. If the sales charges were included, the annual total returns would be lower than those shown. <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposedPRUDENTIALJENNISONVALUEFUND column period compact * ~</div> <div style="display:none">~ http://www.prudentialfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposedPRUDENTIALJENNISONVALUEFUND column period compact * ~</div> 0.31 -0.0227 -0.0364 -0.0456 -0.032 -0.0264 -0.0025 -0.0267 -0.0065 These annual total returns do not include sales charges. If the sales charges were included, the annual total returns would be lower than those shown. The total return of Class A shares from 1-1-12 through 9-30-12 was 10.73%. The Fund was compared to the Lipper Large-Cap Value Funds Average, although Lipper classifies the Fund in the Lipper Multi-Cap Core Funds Performance Universe. The Lipper Large-Cap Value Funds Performance Universe was utilized because PI believes that the funds included in this Universe provide a more appropriate basis for Fund performance comparisons.