Prudential International Equity Fund
Seeks long-term capital growth and to outperform the international equity market by investing in growth and value stocks of companies outside of North America. The Fund may be suited to investors looking for a broad exposure to foreign equities and who want to take advantage of expanding growth overseas.

See quarterly PDF version of this Fund Fact Sheet.
PerformanceFund Facts
& Holdings
Fund ManagersProspectus, Shareholder
Reports, & Sales
Load Breakpoints
Stylebox - large blend
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. Maximum sales charges: Class A, 5.5%; Class B, 5.0%; and Class C, 1.0%.

Average Annual Total Returns

Total Returns
(with sales charge)
as of 7/31/2013
Total Returns
(without sales charge)
as of 7/31/2013
Lipper International Large-Cap Core Funds Average as of 7/31/2013 MSCI EAFE Index as of 7/31/2013
Class ABCZABCZ
Year-to-Date8.127.767.768.239.60
1-Year16.2217.1721.1723.3322.9822.1722.1723.3323.48
3-Year6.997.438.299.349.038.298.299.348.61
5-Year-1.35-1.09-0.900.01-0.23-0.91-0.900.011.05
10-Year6.376.216.227.226.976.216.227.227.97
Since Incpt.-1.85-2.15-2.15-1.21-1.43-2.15-2.15-1.212.66

See Daily ReturnsQuarterly SEC Standardized Performance, Class F Performance. and Class X Performance.
See Calendar Year Performance for the Prudential International Equity Fund.

Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Lipper average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Lipper averages and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class A inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.

Lipper International Large-Cap Core Funds invest at least 75% of their equity assets in companies strictly outside of the US with market capitalizations (on a three-year weighted basis) above Lipper's international large-cap floor and typically have average characteristics compared to their large-cap-specific subset of the MSCI EAFE Index. The Morgan Stanley Capital International (MSCI) EAFE Index is a weighted index of performance that reflects stock price movements in Europe, Australasia, and the Far East. An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.

Inception: Class A, B, C, and Z, 3/1/2000.

Class A Growth of $10,000
Fund/Benchmark Return Chart
This chart represents historical performance and does not assume the effects of sales charges. If shown with sales charges, performance would have been lower.

Fund Facts & Holdings


Objective: Seeks long-term growth of capital. There is no guarantee the Fund's objective will be achieved.

Dividends: Paid annually, if any.

Capital Gains: Paid annually, if any.

See Dividend and Capital Gains Distributions.

See most recent complete Portfolio Holdings list.

The following information is as of 6/30/2013 and is subject to change.

Total Net Assets: $297 Million

Largest Stock Holdings (% of Assets)
Roche Holding2.1 %
iShares MSCI EAFE Index Fund2.0
BP1.6
Nestle1.6
Commonwealth Bank of Australia1.3
British American Tobacco1.3
Total1.3
BASF1.2
Royal Dutch Shell1.2
AstraZeneca1.1
Top Ten (of 388) 14.7%

Geographic Concentration (% of Assets)
Japan21.0 %
United Kingdom19.3
Germany7.5
Switzerland7.3
Australia6.8
France6.6
Hong Kong4.0
Netherlands2.9
Other24.0
Cash & Equivalents0.6

Sector Breakdown (% of Assets)
Financials24.7 %
Industrials11.6
Consumer Discretionary11.6
Consumer Staples11.1
Healthcare9.5
Materials7.6
Energy7.5
Telecom. Services4.9
Other10.9
Cash & Equivalents0.6


Fund Statistics
Average Weighted Market Cap ($mil) 59,478.6
Beta (3 year)1.03
P/E (Price/Earnings) Ratio11.9
Standard Deviation (3 year)18.79
Turnover Ratio (12-month %)83
All data is unaudited and subject to change. Holdings/sectors may vary. This is not a recommendation to buy or sell any security listed.

The Fund invests in foreign securities, which are subject to currency fluctuation and political uncertainty; and derivative securities, which may carry market, credit, and liquidity risks. Emerging markets are countries that are beginning to emerge with increased consumer potential driven by rapid industrial expansion and economic growth. Investing in emerging markets is very risky due to the additional political, economic and currency risks associated with these underdeveloped geographic areas. These risks may increase the Fund's share price volatility. There is no guarantee the Fund's objective will be achieved.

Average weighted market capitalization is the average market capitalization of stocks in a fund, each weighted by its proportion of assets. Beta measures a fund's sensitivity to changes in the overall market relative to its benchmark. The P/E ratio (Source: Morningstar, Inc.) relates the price of a stock to the per-share earnings of the company. P/E is calculated using a harmonic weighted average, which excludes outliers that can easily skew results. Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Turnover is the rate of trading in a portfolio, higher values imply more frequent trading. Beta is benchmarked against the MSCI EAFE, an unmanaged index, which reflects stock price movements in Europe, Australia, and the Far East and is a broad indicator of how foreign stocks have performed. An investment cannot be made directly in an index. Due to data availability, statistics may not be as of the current reporting period.

Source: Prudential Investment Management, Inc. (PIM) and Lipper Inc. PIM is a Prudential Financial company. Source of Sector classification: S&P/MSCI.

Fund Managers



The Prudential International Equity Fund is co-managed by John Van Belle, Jacob Pozharny, Andrew Goldberg, Ping Wang, and Wen Jin, each a member of Quantitative Management Associates (QMA). QMA has been a leader in the application of advanced portfolio management techniques to meet its clients' investments needs since 1975. Quantitative Management Associates, LLC is a wholly owned subsidiary of Prudential Investment Management, Inc., a Prudential Financial company.

John Van BelleJohn Van Belle, PhD is a Managing Director for Quantitative Management Associates (QMA), where he manages the global and non-US Enhanced Index portfolios. John has also been a Vice President in Currency Management Consulting at both Bankers Trust and Citibank. He began his career in the research department of the Federal Reserve Bank of New York. He has taught Economics and Finance at the University of Virginia and Rutgers Graduate School of Management, and has published numerous articles in the fields of economics and finance. John earned a BS in Economics from St. Joseph's College and a PhD in Economics from the University of Virginia.
Jacob PozharnyJacob Pozharny, Phd, is a Managing Director for Quantitative Management Associates (QMA), as well as Head of Research and Portfolio Management for non-US Quant Core. Jacob was previously a Managing Director and head of International Quantitative Equity at the TIAA-CREF organization and Teachers Advisors, Inc., where he was responsible for quantitative stock selection and portfolio construction for the international portfolios. Earlier in his career, Jacob held positions at the University of California, Nicholas-Applegate Capital Management and the Federal Reserve.  He earned a BA in Economics, an MS in Statistics, an MS in Finance and Applied Economics, and a PhD in Applied Statistics from the University of California.
Andrew goldbergAndrew Goldberg, ScD, is a Managing Director for Quantitative Management Associates (QMA), where he manages and conducts research for QMA's global portfolios. Before joining QMA, Andrew was with JP Morgan Fleming Asset Management, where he was a member of the US equity and emerging-market equity and debt investment teams. Earlier with the firm, he directed quantitative computing for fixed-income research and portfolio management, and co-managed institutional and private-client emerging-market debt portfolios. Andrew received his SB, SM and Doctor of Science in Engineering degrees from the Massachusetts Institute of Technology.
Ping WangPing Wang, PhD, is a Principal and Portfolio Manager for Quantitative Management Associates (QMA), working with the non-US Quant Core team. His responsibilities include portfolio management, analysis and research. Most recently, Ping worked at TIAA-CREF Asset Management, where he performed extensive research in portfolio construction and stock selection in international equity, and also served as portfolio manager on a variety of innovative international products. Previously, he was a senior quantitative analyst at Allstate Investments, where he was responsible for designing and implementing credit analysis for a credit derivatives strategy. Earlier in his career, Ping held positions at Fusion Technology Institute and National Laboratories. He earned a BS in Physics from Beijing Normal University, a MS in Atomic and Molecular Physics from University of Science and Technology of China, and a PhD in Physics from the University of Wisconsin-Madison.
Wen JinWen Jin, PhD, is a Vice President and Portfolio Manager for Quantitative Management Associates (QMA), working with the non-US Quant Core team. His responsibilities include portfolio management, analysis and research. Prior to joining QMA, he was a Portfolio Manager and Director of Quantitative Strategy and Trading at Aristeia Capital Management, where he oversaw derivatives valuation, quantitative trading strategy development and portfolio management. Prior to that, Wen was a Quantitative Strategist in the options trading group at Citadel Investment Group. He earned a BS in Physics from University of Sciences and Technology of China and an MA and PhD in Physics from Columbia University.



Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Prudential Investments, Prudential, the Prudential logo, the Rock symbol, and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Mutual funds are not insured by the FDIC or any federal government agency, are not a deposit of or guaranteed by any bank or any bank affiliate, and may lose value.
0236068-00001-00    Ed. 12/2012