PGIM Target Date 2035 Fund Class R5 is a target date mutual fund designed to help investors plan for retirement around the year 2035. Its primary function is to provide a professionally managed, diversified investment option that gradually shifts its asset allocation as the target retirement date approaches. The fund achieves this by investing in a broad selection of underlying mutual funds from the PGIM family, encompassing equities, fixed income securities, and non-traditional asset classes. This multi-asset approach aims to balance the objectives of capital appreciation and risk mitigation, adapting the portfolio mix to become more conservative over time as the target date nears. Notable features of this fund include active oversight by experienced managers—Joel M. Kallman, Jeremy Stempien, and David Blanchett—and a structure designed for individuals anticipating retirement within a specific timeframe. Its diversified exposure across sectors and asset classes makes it suitable as a one-stop retirement solution, automatically adjusting to reduce risk as investors approach retirement. The fund's role in the market is to simplify retirement planning and provide a turnkey solution for individuals seeking both growth and capital preservation tailored to a specified retirement horizon.
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