1 The Morningstar Rating may not be customarily calculated based on adjusted historical returns. If so, this investment’s independent Morningstar Rating metric is compared against the retail mutual fund universe breakpoints to determine its hypothetical rating for certain time periods. The Dryden Municipal Bond Fund/High Income Series’s Class A 3-, 5-, and 10-year ratings are 4 stars out of 115 funds, 4 stars out of 107 funds, and 4 stars out of 77 funds, respectively. The DrydenMunicipal Bond Fund/High Income Series’s Class Z 3-, 5-, and 10-year ratings are 5 stars out of 115 funds, 5 stars out of 107 funds, and 5 stars out of 77 funds, respectively. The Dryden Short-Term Corporate Bond Fund’s Class A 3-, 5-, and 10-year ratings are 3 stars out of 370 funds, 3 stars out of 317 funds, and 4 stars out of 167 funds, respectively. The Dryden Short-Term Corporate Bond Fund’s Class Z 3-, 5-, and 10-year ratings are 5 stars out of 370 funds, 4 stars out of 317 funds, and 5 stars out of 167 funds, respectively. Other share classes may have different performance characteristics. Past performance does not guarantee future results. For each fund with at least a 3-year history, Morningstar calculates a Morningstar rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, and the next 35% receive 3 stars (each share class is rated separately, which may cause slight variations in the distribution percentages). The overall Morningstar rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar rating metrics. The Fund was rated against U.S.-domiciled funds.
2 Source: Morningstar, Prudential Investments. Ranking represents the fund's standing across all funds in the Municipal High Yield Bond category, 1%=highest; 100=lowest. The fund's A shares ranked 12, 10 , 10, and 10 out of 145, 115, 107, and 77 funds over the 1-, 3-, 5-, and 10-year time periods, respectively as of 2/28/09. Morningstar rankings measure total return and do not include the effect of sales charges.
(c) 2009 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
For more information, visit our website JennisonDryden.com or call our Sales Desk at (800) 257-3893, between 8 a.m. and 6 p.m. Eastern time, Monday through Friday.
Fixed Income investments are subject to interest rate risk whereby their value will decline as interest rates rise.
Dryden Municipal Bond Fund/High Income Series may invest in high yield (“junk”) bonds, which are subject to greater credit and market risks. Dryden Short-Term Corporate Bond Fund may invest in high yield (“junk”) bonds, which are subject to greater credit and market risks; mortgage-backed securities, which are subject to prepayment and extension risks; and derivative securities, which may carry market, credit, and liquidity risks. These risks may result in greater share price volatility. There is no assurance the Funds’ objectives will be achieved.
Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the fund. Read it carefully before investing. Contact the JennisonDryden Sales Desk at (800) 257-3893 to obtain a copy of the prospectus.
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IFS-A162533 Ed. 3/2009
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