Company Website: http://www.prudential.com
NEWARK, N.J. -- (Business Wire)

Prudential Global Short Duration High Yield Fund (NYSE: GHY) has invested all of the proceeds received at the closing of its initial public offering on December 26, 2012.

The Fund seeks to provide investors with a high level of current income. It invests in a global portfolio consisting primarily of higher-rated, below investment-grade fixed income instruments. It seeks to maintain a weighted average portfolio duration of three years or less and an average maturity of five years or less¹. There is no guarantee the Fund’s objective will be achieved.

As of February 15, 2013, the Fund’s investments were comprised approximately as follows:

Portfolio Composition²:

Portfolio Statistics:

The Fund is a diversified, closed-end management investment company managed by Prudential Investments LLC. The Fund is sub-advised by Prudential Fixed Income, a business unit of Prudential Investment Management Inc. and an affiliate of the investment manager.

Prudential Investments, the mutual fund and wealth management business of Prudential Financial, Inc. (NYSE: PRU), oversees Prudential Mutual Funds, which focuses on traditional mutual funds, separately managed accounts, and Investment Only Defined Contribution businesses. Prudential Investments also maintains two other business units, Wealth Management Solutions and Strategic Investment Research Group.

Prudential Financial, Inc., a financial services leader with more than $1 trillion of assets under management as of December 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

The Fund invests in high yield (“junk”) bonds, which are subject to greater credit and market risks; leveraging techniques, which may magnify losses and increase portfolio expenses; derivative securities, which maycarry market, credit, and liquidity risks; foreign securities, which are subject to currency fluctuation andpolitical uncertainty; emerging markets, which are subject to greater volatility and price declines; liquidity risk, which exists when particular investments are difficult to sell; and small- and mid-cap issuers, whichmay be subject to more erratic price and market movements than large-cap issuers. The Fund may frequently trade at a discount to its net asset value and contains anti-takeover provisions that may delay, defer orprevent a transaction or a change in control that might otherwise be in the best interests of the stockholders. Fixed income investments are subject to interest rate risk, where their value will decline as interest ratesrise; and credit risk, which is the inability to make timely principal and interest payments. The Fund’s net assetvalue may decline over time to the extent that the Fund buys fixed income securities at a premium. The risks associated with the Fund are more fully explained in the prospectus. These risks may increase the Fund’s share price volatility. There is no guarantee the Fund’s objective will be achieved.

An investment in a closed-end fund’s common stock may be speculative in that it involves a high degree of risk and should not constitute a complete investment program, and may result in loss of principal. Each closed-end fund will have its own unique investment strategy, risks, charges and expenses that need to be considered before investing. The prospectus, which contains this and other information about the Fund, should be read carefully before investing.

Prudential Fixed Income is a unit of PIM, which is a registered investment advisor and Prudential Financial company. Prudential Investments, Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

¹ Higher-rated high yield bonds are below investment grade, commonly referred to as “junk bonds,” and are considered speculative. Rated Ba, B by Moody’s Investors Service, Inc.; BB, B by Standard & Poor’s Ratings Services or Fitch, Inc.; or comparably rated by another nationally recognized statistical rating organization (NRSRO), or if unrated, are considered of comparable quality.

² Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. Negative allocations and allocations in excess of 100%, if any, are primarily due to the Fund's unsettled trade activity.

Control Number: 0239846-00001-00

Contacts:

Prudential
Darrell Oliver,973-802-9627
Darrell.Oliver@prudential.com

Source: Prudential Global Short Duration High Yield Fund