Prudential Investment Portfolios 4
PGIM Muni High Income Fund
Prudential Investment Portfolios 6
PGIM California Muni Income Fund
Prudential Investment Portfolios 12
PGIM Short Duration Muni Fund
Prudential National Muni Fund, Inc.
PGIM National Muni Fund
(each a "Fund" and collectively the "Funds")
Supplement dated November 18, 2021
to each Fund's Currently Effective Summary Prospectus, Prospectus and Statement of Additional Information
Effective immediately, Mr. Jason Appleson is added as portfolio manager to each Fund.
To reflect this change, each Fund's Summary Prospectus, Prospectus and Statement of Additional Information (SAI) are hereby revised as follows effective immediately:
1.The table in the section of each Fund's Summary Prospectus and Prospectus entitled "Management of the Fund" is hereby revised by adding the information set forth below with respect to Mr. Appleson:
Investment |
Subadviser |
Portfolio |
Title |
Service Date |
Managers |
|
Managers |
|
|
PGIM Investments |
PGIM Fixed |
Jason Appleson, |
|
Managing Director and |
November 2021 |
|
LLC |
Income |
CFA, FRM |
|
Co-Head - Municipal |
|
|
|
|
|
Bond Team |
|
2.The section of each Fund's Prospectus entitled "How the Fund is Managed Portfolio Managers", is hereby revised by adding the following professional biography for Mr. Appleson:
Jason Appleson, CFA, FRM, is a Managing Director and Co-Head of PGIM Fixed Income's Municipal Bond Team. Prior to joining the Firm in 2021, Mr. Appleson served as a lead portfolio manager for PT Asset Management. In this role, he led portfolio construction, trading, and research for municipal bond products. Prior to PT Asset Management, Mr. Appleson worked at the Federal Reserve Bank of New York where he was involved with developing a systematic approach to stress testing municipal portfolios for the largest financial institutions. Previously, he worked at AllianceBernstein as a credit analyst, supporting the firm's $30 billion municipal fund complex. Mr. Appleson received a BA in finance from Touro College and an MBA with high honors from the University of Chicago's Booth School of Business. He holds the Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) designations.
3.The table in the section of each Fund's SAI entitled "Management & Advisory Arrangements - The Fund's Portfolio Managers: Information About Other Accounts Managed" is hereby revised by adding the following information pertaining to Mr. Appleson:
Subadviser |
Portfolio |
Registered Investment |
Other Pooled |
Other Accounts/ |
|
Managers |
Companies/Total |
Investment Vehicles/ |
Total Assets |
|
|
Assets |
Total Assets |
|
|
|
0/$0 |
0/$0 |
0/$0 |
PGIM Fixed |
Jason |
|
|
|
Income |
Appleson* |
|
|
|
*Information is as of October 31, 2021.