Prudential Premier Retirement Variable Annuities

INVESTMENT OBJECTIVES/POLICIES
AST T. Rowe Price Large-Cap Growth Portfolio: seeks long-term growth of capital by
investing predominantly in the equity securities of a limited number of large, carefully
selected, high-quality U.S. companies that are judged likely to achieve superior earnings
growth. The Portfolio takes a growth approach to investment selection and normally
invests at least 80% of its net assets in the common stocks of large companies. Large
companies are defined as those whose market capitalization is larger than the median
market capitalization of companies in the Russell 1000 Growth Index as of the time of
purchase.
AST T. Rowe Price Natural Resources Portfolio: seeks long-term capital growth
primarily through investing in the common stocks of companies that own or develop
natural resources (such as energy products, precious metals and forest products) and
other basic commodities. The Portfolio invests, under normal circumstances, at least 80%
of the value of its assets in natural resource companies. The Portfolio may also invest in
non-resource companies with the potential for growth. The Portfolio looks for companies
that have the ability to expand production, to maintain superior exploration programs and
production facilities, and the potential to accumulate new resources. Although the
Portfolio is primarily invested in U.S. securities, up to 50% of total assets also may be
invested in foreign securities.
AST Wellington Management Hedged Equity Portfolio: seeks to outperform a mix of
50% Russell 3000 Index, 20% MSCI EAFE Index, and 30% Treasury Bill Index over a full
market cycle by preserving capital in adverse markets utilizing an options strategy while
maintaining equity exposure to benefit from up markets through investments in Wellington
Management’s equity investment strategies. The Portfolio will use a broad spectrum of
Wellington Management's equity investment strategies to invest in a broadly diversified
portfolio of common stocks while also pursuing an equity index option overlay strategy.
The equity index option overlay strategy is designed to help mitigate capital losses in
adverse market environments and employs a put/spread collar to meet this goal. The
Portfolio will normally invest at least 80% of its assets in common stocks of small,
medium and large companies and may also invest up to 30% of its assets in equity
securities of foreign issuers and non-dollar denominated securities.
AST Western Asset Core Plus Bond Portfolio: seeks to maximize total return,
consistent with prudent investment management and liquidity needs, by investing to obtain
the average duration specified for the Portfolio. The Portfolio invests, under normal
circumstances, at least 80% of the value of its assets in debt and fixed-income securities.
The Portfolio’s current target average duration is generally 2.5 to 7 years. The Portfolio
pursues this objective by investing in all major fixed income sectors with a bias towards
non-Treasuries. The Portfolio has the ability to invest up to 20% in below investment
grade securities. Securities rated below investment grade are commonly known as “junk
bonds” or “high yield” securities.
AST Western Asset Emerging Markets Debt Portfolio: seeks to maximize total return.
The Portfolio pursues its objective, under normal market conditions, by investing at least
80% of its assets in fixed-income securities issued by governments, government related
entities and corporations located in emerging markets, and related instruments. The
Portfolio may invest without limit in high yield debt securities and related investments
rated below investment grade (that is, securities rated below Baa/BBB), or, if unrated,
determined to be of comparable credit quality by one of the subadvisers. The Portfolio
may invest in Below-investment grade securities that are commonly referred to as “junk
bonds”. The Western Asset Emerging Markets Debt Portfolio also may invest up to 50%
of its assets in non-U.S. dollar denominated fixed income securities.
STYLE/
TYPE
LARGE CAP
GROWTH
SPECIALTY
ASSET
ALLOCA-
TION
FIXED
INCOME
FIXED
INCOME
PORTFOLIO
ADVISOR/
SUBADVISOR
T. Rowe Price
Associates, Inc.
T. Rowe Price
Associates, Inc.
Wellington
Management
Company, LLP
Western Asset
Management
Company
Western Asset
Management
Company; Western
Asset Management
Company Limited
LIMITATIONS WITH OPTIONAL BENEFITS
As a condition to your participating in certain optional benefits, we limit the Investment Options to which you may allocate your
Account Value. Broadly speaking, we offer two groups of “Permitted Sub-accounts”. Under the first group (Group I), your
allowable Investment Options are more limited, but you are not subject to mandatory quarterly re-balancing. We call the second
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