The Prudential Series Fund

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Table of Contents 4 INTRODUCTION 4 About the Fund and Its Portfolios 5 RISK/RETURN SUMMARY 5 Investment Objectives & Principal Strategies of the Portfolios 12 Principal Risks 19 Introduction to Past Performance 20 Past Performance 33 Fees and Expenses of the Portfolios 34 Example 35 MORE DETAILED INFORMATION ON HOW THE PORTFOLIOS INVEST 35 Investment Objectives & Policies 50 MORE DETAILED INFORMATION ABOUT OTHER INVESTMENTS & STRATEGIES USED BY THE PORTFOLIOS 50 Additional Investments & Strategies 54 HOW THE FUND IS MANAGED 54 Board of Trustees 54 Investment Manager 54 Investment Management Fees 55 Investment Subadvisers 56 Portfolio Managers 64 HOW TO BUY AND SELL SHARES OF THE PORTFOLIOS 64 Purchasing Shares of the Portfolios 64 Frequent Purchases or Redemptions of Portfolio Shares 65 Net Asset Value 68 Distributor 69 OTHER INFORMATION 69 Federal Income Taxes 69 Monitoring for Possible Conflicts 69 Disclosure of Portfolio Holdings 69 Redemption in Kind 70 FINANCIAL HIGHLIGHTS 70 Introduction
INTRODUCTION ABOUT THE FUND AND ITS PORTFOLIOS This prospectus provides information about The Prudential Series Fund (the Fund), which consists of 28 separate portfolios (each, a Portfolio). The Portfolios of the Fund which are discussed in this prospectus are listed on the inside front cover. Prudential Investments LLC (PI), a wholly-owned subsidiary of Prudential Financial, Inc., serves as overall manager for the Fund. The assets of each Portfolio are managed by one or more subadvisers under a “manager-of-managers” structure. More information about PI, the “manager-of-managers” structure, and the subadvisers is included in “How the Fund is Managed” later in this Prospectus. The Fund offers two classes of shares in each Portfolio: Class I and Class II. Class I shares are sold only to separate accounts of insurance companies affiliated with Prudential Financial, Inc., including but not limited to The Prudential Insurance Company of America, Pruco Life Insurance Company, and Pruco Life Insurance Company of New Jersey (collectively, Prudential) as investment options under variable life insurance and variable annuity contracts (the Contracts). (A separate account keeps the assets supporting certain insurance contracts separate from the general assets and liabilities of the insurance company.) Class II shares are offered only to separate accounts of non-Prudential insurance companies for the same types of Contracts. Not every Portfolio is available under every Contract. The prospectus for each Contract lists the Portfolios currently available through that Contract. The Risk/Return Summary which follows highlights key information about each Portfolio. Additional information follows this summary and is also provided in the Fund’s Statement of Additional Information (SAI). 4
Page 1 and 2: MAY 1, 2009 PROSPECTUS The Prudenti
Page 3 and 4: THE PRUDENTIAL SERIES FUND Diversif
Page 5 and 6: THE PRUDENTIAL SERIES FUND Natural
Page 7: This prospectus discusses the follo
Page 11 and 12: ■ prepayment risk The Portfolio i
Page 13 and 14: ■ ■ ■ ■ ■ ■ ■ ■ ■
Page 15 and 16: a representative sample of the stoc
Page 17 and 18: PRINCIPAL RISKS Although we try to
Page 19 and 20: Foreign investment risk. Investing
Page 21 and 22: Market risk. Market risk is the ris
Page 23 and 24: guaranteeing the obligation for ult
Page 25 and 26: PAST PERFORMANCE Conservative Balan
Page 27 and 28: Equity Portfolio Annual Returns (Cl
Page 29 and 30: Global Portfolio Annual Returns (Cl
Page 31 and 32: High Yield Bond Portfolio Annual Re
Page 33 and 34: Money Market Portfolio Annual Retur
Page 35 and 36: Small Capitalization Stock Portfoli
Page 37 and 38: Value Portfolio Annual Returns (Cla
Page 39 and 40: EXAMPLE The following Example, whic
Page 41 and 42: and are considered speculative. We
Page 43 and 44: can’t guarantee success, and it i
Page 45 and 46: ■ ■ Repurchase agreements. The
Page 47 and 48: Government Income Portfolio The inv
Page 49 and 50: The Portfolio may also invest in ob
Page 51 and 52: unrated, of comparable quality in o
Page 53 and 54: ■ Illiquid securities The Portfol
Page 55 and 56: MORE DETAILED INFORMATION ABOUT OTH
Page 57 and 58: are not backed by the full faith an
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HOW THE FUND IS MANAGED BOARD OF TR
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trading, asset management and priva
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Equity Portfolio Spiros “Sig” S
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Richard Piccirillo is Principal and
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Natural Resources Portfolio David A
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HOW TO BUY AND SELL SHARES OF THE P
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(which is generally 4:00 p.m. New Y
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DISTRIBUTOR Prudential Investment M
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FINANCIAL HIGHLIGHTS INTRODUCTION T
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Equity Portfolio Class I Year Ended
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High Yield Bond Portfolio Year Ende
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Small Capitalization Stock Portfoli
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INVESTOR INFORMATION SERVICES: Shar
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TABLE OF CONTENTS Page PER SHARE IN
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PER SHARE INVESTMENT INCOME, CAPITA
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Summary of Charges The Partnership
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Partnership. PREI's investment staf
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would be willing to commit to a fir
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The investment manager will manage
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4. Risks with Sale-Leaseback Transa
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If an account which has been alloca
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correspondingly adjusted. In additi
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RESTRICTIONS ON CONTRACT OWNERS’
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During the year ended December 31,
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(2) Net investment income for the y
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The following sections discuss thos
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The table below presents the amount
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NOTES TO THE FINANCIAL STATEMENTS O
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THE PRUDENTIAL VARIABLE CONTRACT RE
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NOTES TO THE CONSOLIDATED FINANCIAL
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Report of Independent Registered Pu
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Pruco Life Insurance Company Consol
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Pruco Life Insurance Company Consol
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Pruco Life Insurance Company Notes
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Many Prudential Financial companies
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The Prudential Series Fund

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