Strategy. The Fund is an actively managed fund that gains exposure to the commodity markets through investment of the Funds assets directly and/or in the PGIM QMA Commodity Strategies Subsidiary, Ltd., the Funds wholly-owned Cayman Islands subsidiary (the Cayman Subsidiary). The Funds invests a portion of its assets in exchange-traded futures contracts, and exchange-traded forward contracts, on commodities, in each case held by its Cayman Subsidiary. The Fund may also invest, directly or through the Cayman Subsidiary, in options on futures contracts linked to commodities, commodity-linked structured notes (CLNs) linked to commodity indices, and exchange-traded funds (ETFs) and exchange-traded notes (ETNs) whose returns are linked to commodities or commodity indices within the limits of applicable law. The Fund also invests directly, … Show more… The Fund is an actively managed fund that gains exposure to the commodity markets through investment of the Funds assets directly and/or in the PGIM QMA Commodity Strategies Subsidiary, Ltd., the Funds wholly-owned Cayman Islands subsidiary (the Cayman Subsidiary). The Funds invests a portion of its assets in exchange-traded futures contracts, and exchange-traded forward contracts, on commodities, in each case held by its Cayman Subsidiary. The Fund may also invest, directly or through the Cayman Subsidiary, in options on futures contracts linked to commodities, commodity-linked structured notes (CLNs) linked to commodity indices, and exchange-traded funds (ETFs) and exchange-traded notes (ETNs) whose returns are linked to commodities or commodity indices within the limits of applicable law. The Fund also invests directly, or indirectly through the Cayman Subsidiary, in securities issued by the U.S. Government. The subadvisers strategy seeks to generate returns over a market cycle in excess of the Index using a systematic, factor-based investment process. The Fund may hold a significant portion of its assets directly or indirectly in cash and/or invest in money market instruments, including commercial paper of a company, government securities, sovereign debt, certificates of deposit, bankers' acceptances, time deposits of banks, and obligations issued or guaranteed by a government or its agencies or instrumentalities. These obligations may be U.S. dollar-denominated or denominated in a foreign currency. A portion of the cash or cash equivalent investments in the Fund and in the Cayman Subsidiary will serve as margin or collateral for the Fund's investment in futures, forwards, options or other derivatives. The Fund may invest up to 10% of its total assets in ETFs. The Bloomberg Commodity Index (the Index) is a broadly diversified futures index currently composed of 24 futures contracts on 22 physical commodities. The Fund is not sponsored by or affiliated with Bloomberg. The Fund is not sponsored by or affiliated with Bloomberg. The Index is weighted among commodity sectors using dollar-adjusted liquidity and production data. As of the date of this Prospectus, six energy commodities, two precious metals commodities, five industrial metals commodities, two livestock commodities, and nine agricultural futures contracts are represented in the Index. The Index is rebalanced as of the beginning of each calendar year so that as of that time no single commodity constitutes less than 2%, as liquidity allows, or more than 15% of the Index, and each related group of commodities (e.g., energy, precious metals, industrial metals, livestock or agriculture) represented in the Index is limited to 33%. However, following this rebalancing and for the remainder of the calendar year these percentages may change so that a single commodity may constitute a lesser or greater percentage of the Index at the beginning of the year and different sectors may represent different proportions of the Index. To the extent the Index is concentrated in a particular industry (or one or more commodities that comprise an industry) the Fund may be concentrated in that industry. The Fund's investments in specific commodities and its exposure levels to commodities may differ from those included in the Index and the Fund may gain exposure to sectors which are not included in the Index. The Fund invests in commodity-linked derivative instruments, such as structured notes, swap agreements, commodity options, futures and options on futures, which are designed to provide exposure to the investment returns of assets such as oil, gas, industrial and precious metals, livestock, and agricultural or meat products, or other items that have tangible properties, as compared to stocks or bonds, which are financial instruments. The value of commodity-linked derivative instruments may be affected by a variety of factors, including, but not limited to, overall market movements and other factors affecting the value of particular industries or commodities, such as weather, disease, embargoes, acts of war or terrorism, or political and regulatory developments. As noted above, the Fund gains exposure to commodity markets by investing up to 25% of its total assets in the Cayman Subsidiary. The Cayman Subsidiary invests primarily in exchange-traded futures contracts, and exchange-traded forward contracts, on commodities in order to seek returns over time in excess of the performance of the Index, as determined by the subadviser, from investments that would generate non-qualifying income under Subchapter M of the Internal Revenue Code (the Code) if owned directly by the Fund. The Cayman Subsidiary may also invest in high quality, short-term instruments, which may include positions in U.S. Treasury securities, government agency debt and money market funds, which are intended to serve as margin or collateral for the Cayman Subsidiarys futures positions. The Cayman Subsidiary may invest in commodity investments without limit. The Fund invests in the Cayman Subsidiary in order to gain exposure to commodities within the limitations of the U.S. federal tax law requirements applicable to regulated investment companies (RICs) such as the Fund. The Fund may also gain direct exposure to commodities through direct investments in certain ETFs and as otherwise may be permitted by the 1940 Act and exemptive orders, releases, no-action letters or similar relief or interpretations issued by the Securities and Exchange Commission (the SEC). Show less