Advanced Series Trust AST Academic Strategies Asset ... - Prudential

Prudential Core Taxable Money Market Fund
Invests primarily in short-term money market
instruments issued by the U.S. Government,
its agencies and instrumentalities, commercial
paper, asset-backed securities, funding
agreements, variable rate demand notes, bills,
notes and other obligations issued by banks,
corporations and other companies, and
obligations issued by foreign banks,
companies or governments
Money Market
International Fixed-Income (Un-Hedged) (PIMCO). Under normal circumstances, PIMCO will invest at least 80% of the net assets
attributable to this investment category in fixed income instruments that are economically tied to foreign (non-U.S.) countries,
representing at least three foreign countries, which may be represented by forwards or derivatives such as options, futures contracts,
or swap agreements. PIMCO will select the foreign country and currency compositions for this investment category based on an
evaluation of various factors, including, but not limited to relative interest rates, exchange rates, monetary and fiscal policies, trade
and current account balances. The average duration of the assets attributable to this investment category will normally vary within
two years (plus or minus) of the duration of the JPMorgan GBI Global ex-U.S. FX NY Index Unhedged in USD. PIMCO will invest
primarily in investment grade debt securities but may invest up to 10% of the total assets attributable to this investment category in
high yield securities (also referred to as “junk bonds”) rated B or higher by Moody’s Investors Service Inc. (Moody’s), or equivalently
rated by Standard & Poor’s (S&P) or Fitch Ratings Ltd. (Fitch), or, if unrated, determined by PIMCO to be of comparable quality.
PIMCO may invest up to 15% of the total assets attributable to this investment category in securities and instruments that are
economically tied to emerging market countries. For purposes of this investment category, an emerging market country shall be any
country defined as an emerging or developing economy by the World Bank or its related organizations, or the United Nations or its
authorities, or if the country is considered an emerging market country for purposes of constructing emerging markets indices.
PIMCO may concentrate the assets attributable to this investment category in a relatively small number of issuers. Also, PIMCO may
invest up to 10% of the total assets attributable to this investment category in preferred stocks.
Emerging Markets Fixed-Income (PIMCO). For purposes of this investment category, an emerging market country shall be any country
defined as an emerging or developing economy by the World Bank or its related organizations, or the United Nations or its
authorities, or if the country is considered an emerging market country for purposes of constructing emerging markets indices. Under
normal circumstances, PIMCO will invest at least 80% of the net assets attributable to this investment category in fixed income
instruments that are economically tied to emerging market countries, which may be represented by forwards or derivatives such as
options, futures contracts, or swap agreements. Such instruments may be denominated in non- U.S. currencies and the U.S. dollar.
The average duration of the assets attributable to this investment category will normally vary within two years (plus or minus) of the
duration of the JPMorgan Emerging Markets Bond Index. PIMCO will emphasize countries with relatively low gross national product
per capita and with the potential for rapid economic growth. PIMCO will select the country and currency composition for this
investment category based on its evaluation of relative interest rates, inflation rates, exchange rates, monetary and fiscal policies,
trade and current account balances, and any other specific factors PIMCO believes to be relevant. PIMCO likely will concentrate the
investment of assets attributable to this investment category in Asia, Africa, the Middle East, Latin America and the developing
countries of Europe. Also, PIMCO may invest up to 10% of the total assets attributable to this investment category in preferred stocks.
PIMCO may invest all of the assets attributable to this investment category in “junk bonds”, subject to a maximum of 15% of such
total assets in securities rated below B by Moody’s, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be
of comparable quality. PIMCO may concentrate the assets attributable to this investment category in a relatively small number of
issuers.
Investments in Non-Traditional Asset Classes. With the exception of the U.S. Real Estate and International Real Estate investment
categories within the Real Estate asset class, it is expected that exposure to the remaining non-traditional investment categories will
be obtained primarily through the allocation of Portfolio assets to certain Subadvisers. Consistent with the investment objectives and
policies of the Portfolio, Underlying Fund Portfolios from time to time may be added to, or removed from, the Portfolio’s list of
available investment options.
Real Estate. As of January 31, 2010, exposure to the U.S. real estate and international real estate investment categories will be
obtained through investments in the AST Cohen & Steers Real Estate Portfolio and the AST Global Real Estate Portfolio, respectively.
The principal investments of these Underlying Portfolios are described below.
Underlying Portfolio Principal Investments Traditional Investment Category
AST Cohen & Steers Real Estate
Invests primarily in equity securities of real
estate companies
Domestic Real Estate
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