PGIM Target Date 2020 Fund Class R3 is a target-date mutual fund developed to support investors who plan to retire near the year 2020. The fund primarily serves as a diversified, professionally managed investment solution, automatically adjusting its asset allocation mix as the target retirement year approaches and passes. Early in its lifecycle, the fund maintains a higher proportion of equities for growth potential, then gradually reallocates toward bonds and other fixed-income securities to lower overall portfolio risk as retirement nears. This approach aims to balance capital appreciation with increased income and capital preservation for near-retirement investors. Managed by PGIM Investments, the fund utilizes both active and passive management techniques, and employs a multi-stage glide path strategy for asset transitions. PGIM Target Date 2020 Fund Class R3 is part of a larger family of target-date offerings and is frequently used in employer-sponsored retirement plans, providing a convenient, set-it-and-forget-it retirement investing option for participants seeking a one-stop diversified portfolio solution aligned with their anticipated retirement timeline.
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