Definitive Materials Filed by Investment Companies. (497)
14 Febbraio 2014 - 10:40PM
Edgar (US Regulatory)
PRUDENTIAL INVESTMENT PORTFOLIOS 16
Target Conservative Allocation Fund
Supplement
dated February 14, 2014 to the Prospectus
and Statement of Additional Information dated September 30, 2013
PIMCO portfolio manager Chris Dialynas has announced that he will
commence a sabbatical leave from PIMCO. Effective immediately, William (Bill) H. Gross, CFA has assumed Mr. Dialynas’ portfolio
management responsibilities, and Mr. Gross is now the portfolio manager for the segment of the Fund managed by PIMCO. All information
and references to Mr. Dialynas are hereby deleted.
MFS has announced that, effective on or about April 30, 2014, Matthew D. Sabel will join Eric B. Fischman as a portfolio manager
for the segment of the Fund managed by MFS.
____________________________________________________________________________________________
To reflect these changes, the Fund’s Prospectus and Statement
of Additional Information (SAI) are hereby changed as follows:
|
I.
|
In the section of the Prospectus entitled
Fund Summary/Management of the Fund
, the following
is hereby added to the table found in this section:
|
Investment Manager
|
Subadvisers
|
Portfolio Manager
|
Title
|
Service Date
|
Prudential Investments LLC
|
Pacific Investment Management Company LLC (PIMCO)
|
William H. Gross, CFA
|
Managing Director, Portfolio Manager, and Chief Investment
Officer
|
February 2014
|
|
Massachusetts Financial Services Company (MFS)
|
Matthew D. Sabel*
|
Investment Officer
|
April 2014
|
*Effective on or about April 30, 2014, Matthew D. Sabel will
join Eric B. Fischman as a portfolio manager for the segment of the Fund advised by MFS.
|
II.
|
In the section of the Prospectus entitled
How the Fund is Managed/Subadvisers and Portfolio
Managers
, the following is hereby added to the discussions pertaining to PIMCO and MFS:
|
William H. (Bill) Gross, CFA
is responsible
for the day-to-day management of the portions of the Fund advised by PIMCO.
Mr. Gross is a founder, managing director
and CIO of PIMCO based in the Newport Beach office. He has been with PIMCO since he co-founded the firm in 1971 and oversees the
management of more than $1.9 trillion of securities. He is the author of numerous articles on the bond market, as well as the book,
"Everything You’ve Heard About Investing is Wrong," published in 1997. Among the awards he has received, Morningstar
named Mr. Gross and his investment team Fixed Income Manager of the Decade for 2000-2009 and Fixed Income Manager of the Year for
1998, 2000, and 2007 (the first three-time recipient). He received the Bond Market Association’s Distinguished Service Award
in 2000 and became the first portfolio manager inducted into the Fixed Income Analysts Society's hall of fame in 1996. Mr. Gross
is a nine-time Barron's Roundtable panelist (2005-2013), appearing in the annual issue featuring the industry's top investment
experts, and he received the Money Management Lifetime Achievement Award from Institutional Investor magazine in 2011. In a survey
conducted by Pensions and Investments magazine in 1993, he was recognized by his peers as the most influential authority on the
bond market in the U.S. He has 43 years of investment experience and holds an MBA from the Anderson School of Management at the
University of California, Los Angeles. He received his undergraduate degree from Duke University.
The Portfolio Managers responsible for the management
of the segment of the Fund subadvised by MFS are
Eric B. Fischman
and
Matthew D. Sabel
. Mr. Fischman is an Investment
Officer of MFS,
LR566
and has been employed in the investment area of
MFS since 2000. Mr. Sabel is an Investment Officer of MFS, and has been employed in the investment area of MFS since 2009.
|
III.
|
In the section of the SAI entitled
Management & Advisory Arrangements/Additional Information
About the Portfolio Managers – Other Accounts and Ownership of Fund Securities
, the following is hereby added to the
table:
|
Subadviser
|
Portfolio Manager
|
Registered Investment Companies
|
Other Pooled Investment Vehicles
|
Other Accounts
|
Ownership of Fund Securities
|
Pacific Investment Management Company LLC (PIMCO)
|
William H. Gross, CFA
|
47/$396,943.41 million
|
22/$45,072.58 million
|
61/$31,049.39 million
|
None
|
Massachusetts Financial Services Company (MFS)
|
Matthew D. Sabel*
|
2/$346.6 million
|
0/$0
|
1/$29.0 million
|
None
|
*Effective on or about April 30, 2014, Matthew D.
Sabel will join Eric B. Fischman as a portfolio manager for the segment of the Fund advised by MFS.
LR566
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