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Advanced Series Trust AST Academic
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More detailed information relating
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Information About GSAM Portfolio Ma
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Advanced Series Trust Supplement da
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IV. Secondary Performance Benchmark
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esponsible for managing the remaini
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For both CBOs and CLOs, the cashflo
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The High Yield Portfolio may also m
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ADVANCED SERIES TRUST PROSPECTUS DA
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Weighted median market capitalizati
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ADVANCED SERIES TRUST PROSPECTUS DA
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Investment Company Act of 1940 (the
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PIMCO believes to be relevant. PIMC
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companies located throughout the wo
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until the deal closes. • While mo
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Private Equity. Private equity fund
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II. AST High Yield Portfolio The Bo
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Advanced Series Trust Line 2 Line 3
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SUMMARY: AST ACADEMIC STRATEGIES AS
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Liquidity and valuation risk. From
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SUMMARY: AST ADVANCED STRATEGIES PO
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Short sale risk. The Portfolio’s
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SUMMARY: AST AGGRESSIVE ASSET ALLOC
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and certain bond funds (or, for one
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SUMMARY: AST ALLIANCEBERNSTEIN CORE
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Average Annual Total Returns (For t
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may not produce the desired results
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SUMMARY: AST AMERICAN CENTURY INCOM
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Average Annual Total Returns (For t
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classes; the ability of the Portfol
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FINANCIAL INTERMEDIARY COMPENSATION
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action based upon the relevant fact
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SUMMARY: AST BOND PORTFOLIO 2016 IN
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MANAGEMENT OF THE PORTFOLIO Investm
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government agency. While the Portfo
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SUMMARY: AST BOND PORTFOLIO 2018 IN
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Annual Total Returns 0 Best Quarter
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action based upon the relevant fact
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SUMMARY: AST BOND PORTFOLIO 2020 IN
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MANAGEMENT OF THE PORTFOLIO Investm
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government agency. While the Portfo
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SUMMARY: AST CAPITAL GROWTH ASSET A
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Past Performance. A number of facto
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Fixed income securities risk. Inves
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SUMMARY: AST CLS MODERATE ASSET ALL
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The annual returns and average annu
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Market and management risk. Markets
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SUMMARY: AST FEDERATED AGGRESSIVE G
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Expense risk. Your actual cost of i
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Strategy Broad Market Duration Stra
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Annual Total Returns 30% 20% 10% 21
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Mid-capitalization company risk. Th
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SUMMARY: AST FIRST TRUST CAPITAL AP
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The table also demonstrates how the
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Foreign investment risk. Investment
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SUMMARY: AST GOLDMAN SACHS CONCENTR
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Annual Total Returns 60% 45% 30% 15
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comparable to those in the U.S, and
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SUMMARY: AST GOLDMAN SACHS SMALL-CA
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Annual Total Returns 60% 45% 33.85
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Asset-backed securities risk. Asset
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SUMMARY: AST HORIZON GROWTH ASSET A
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Derivatives risk. A derivative is a
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SUMMARY: AST HORIZON MODERATE ASSET
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Derivatives risk. A derivative is a
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SUMMARY: AST INTERNATIONAL GROWTH P
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Annual Total Returns 60% 45% 30% 15
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Market and management risk. Markets
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SUMMARY: AST INVESTMENT GRADE BOND
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Past Performance. A number of facto
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Foreign investment risk. Investment
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Foreign investment risk. Investment
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epatriating investment proceeds. Ma
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SUMMARY: AST JPMORGAN STRATEGIC OPP
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loans, mortgage-backed securities a
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SUMMARY: AST LARGE-CAP VALUE PORTFO
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Average Annual Total Returns (For t
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in market interest rates and that t
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FINANCIAL INTERMEDIARY COMPENSATION
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established markets; foreign market
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SUMMARY: AST MFS GLOBAL EQUITY PORT
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Annual Total Returns 45% 30% 15% 27
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established markets; foreign market
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SUMMARY: AST MID-CAP VALUE PORTFOLI
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Annual Total Returns 60% 45% 30% 15
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Asset-backed securities risk. Asset
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SUMMARY: AST NEUBERGER BERMAN MID-C
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Annual Total Returns 45% 30% 15% 30
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Foreign investment risk. Investment
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SUMMARY: AST NEUBERGER BERMAN SMALL
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Annual Total Returns 60% 45% 30% 15
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usually differ from those in the U.
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SUMMARY: AST PIMCO LIMITED MATURITY
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Annual Total Returns 11% 10% 9% 8%
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credit risk and liquidity risk. Whe
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SUMMARY: AST PRESERVATION ASSET ALL
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will monitor each contract owner’
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SUMMARY: AST QMA US EQUITY ALPHA PO
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The annual returns and average annu
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which could impact the Portfolio. F
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Blended Index (reflects no deductio
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Foreign investment risk. Investment
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SUMMARY: AST SMALL CAP VALUE PORTFO
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Annual Total Returns 45% 30% 21.86
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High-yield risk. Investments in fix
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and related services. These payment
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Asset-backed securities risk. Asset
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SUMMARY: AST T. ROWE PRICE LARGE CA
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Portfolio 53.37% 3.95% -2.13% Index
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Foreign investment risk. Investment
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SUMMARY: AST VALUE PORTFOLIO INVEST
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Annual Total Returns 45% 30% 15% 0
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Foreign investment risk. Investment
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ABOUT THE FUND ABOUT THE FUND AND I
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■ ■ ■ Liquidity and valuation
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■ There is a potential conflict o
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MORE DETAILED INFORMATION ON HOW TH
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AST Marsico Capital Growth AST T. R
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AST Global Real Estate Invests prim
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Global Macro (First Quadrant). This
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strategy. Second, QMA draws on its
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e classified as developed markets.
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Mortgage-Related and Other Asset-Ba
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Principal Investment Policies: The
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AST Bond Portfolio 2016 AST Bond Po
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amortizing mortgage securities offe
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■ ■ ■ ■ common stocks (incl
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AST Preservation Asset Allocation P
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4. International Value Strategy. Th
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To select the stocks for this strat
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“Dow Jones Corporate Bond Index,
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AST Global Real Estate Portfolio In
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Futures, Options and Other Derivati
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Futures, Options and Other Derivati
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not receive any payments (including
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William Blair. William Blair genera
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approach. The objective of the stra
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Growth Portfolio, the Subadviser al
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countries outside of the United Sta
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Hotchkis and Wiley normally focuses
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Special Situations. The Portfolio m
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summarized below: WEDGE normally em
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Asset-Backed Securities. The Portfo
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Other Investments: Although equity
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or profits from, emerging market co
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in value. When a Portfolio makes a
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to 10% of its total assets in fixed
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in return for a premium, one party
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Potential Conflicts: Side-by-Side M
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companies. Absolute Return. The Por
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and high return on invested capital
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ecause their currency markets are n
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The Portfolio may sell securities f
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Implementation of Target Asset Allo
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fixed-income security. For example,
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e subject to liquidity risk. Foreig
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a Portfolio may try to reduce risk
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INVESTMENT MANAGEMENT FEES Set fort
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without prior notice. ***Includes f
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- Page 321 and 322: vehicles advised by affiliated and
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- Page 327 and 328: 1991 through 1996. Before joining B
- Page 329 and 330: candidate for the CFA. QMA Ted Lock
- Page 331 and 332: investments in private equity trans
- Page 333 and 334: Andrew Jessop is an Executive Vice
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- Page 341 and 342: Mr. Brennan joined T. Rowe Price in
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- Page 349 and 350: AST Academic Strategies Asset Alloc
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- Page 353 and 354: AST AllianceBernstein Growth & Inco
- Page 355 and 356: AST Balanced Asset Allocation Portf
- Page 357 and 358: AST Bond Portfolio 2018 January 28,
- Page 359 and 360: AST Capital Growth Asset Allocation
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- Page 363 and 364: AST Federated Aggressive Growth Por
- Page 365 and 366: AST First Trust Balanced Target Por
- Page 367 and 368: AST Global Real Estate Portfolio Ma
- Page 369: AST Goldman Sachs Small-Cap Value P
- Page 373 and 374: AST International Growth Portfolio
- Page 375 and 376: AST Investment Grade Bond Portfolio
- Page 377 and 378: AST JPMorgan Strategic Opportunitie
- Page 379 and 380: AST Lord Abbett Bond-Debenture Port
- Page 381 and 382: AST MFS Growth Portfolio Year Ended
- Page 383 and 384: AST Neuberger Berman Mid-Cap Growth
- Page 385 and 386: AST PIMCO Limited Maturity Bond Por
- Page 387 and 388: AST Preservation Asset Allocation P
- Page 389 and 390: AST Schroders Multi-Asset World Str
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- Page 413 and 414: Notes 379
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- Page 418: INVESTOR INFORMATION SERVICES: Shar