Prudential Premier Retirement Variable Annuities

INVESTMENT OBJECTIVES/POLICIES
ADVANCED SERIES TRUST
AST Academic Strategies Asset Allocation Portfolio: seeks long term capital
appreciation. The Portfolio is a multi-asset class fund that pursues both top-down asset
allocation strategies and bottom-up selection of securities, investment managers, and
mutual funds. Under normal circumstances, approximately 60% of the assets will be
allocated to traditional asset classes (including US and international equities and bonds)
and approximately 40% of the assets will be allocated to nontraditional asset classes and
strategies (including real estate, commodities, and alternative strategies). Those
percentages are subject to change at the discretion of the advisor.
AST Advanced Strategies Portfolio: seeks a high level of absolute return by using
traditional and non-traditional investment strategies and by investing in domestic and
foreign equity and fixed-income securities, derivative instruments and other investment
companies. The Portfolio uses traditional and non-traditional investment strategies by
investing in domestic and foreign equity and fixed-income securities, derivative
instruments and other investment companies. The asset allocation generally provides for
an allotment of 60% of the portfolio’s assets to a combination of domestic and
international equity strategies and the remaining 40% of assets in a combination of U.S.
fixed income, hedged international bond, real return assets and other investment
companies. Quantitative Management Associates LLC allocates the assets of the portfolio
across different investment categories and subadvisors.
AST Balanced Asset Allocation Portfolio: seeks to obtain the highest potential total
return consistent with its specified level of risk. The Portfolio primarily invests its assets in
a diversified portfolio of other mutual funds, within the Advanced Series Trust and certain
affiliated money market funds. Under normal market conditions, the Portfolio will devote
approximately 60% of its net assets to underlying portfolios investing primarily in equity
securities (with a range of 52.5% to 67.5%), and 40% of its net assets to underlying
portfolios investing primarily in debt securities and money market instruments (with a
range of 32.5% to 47.5%). The Portfolio is not limited to investing exclusively in shares of
the underlying portfolios and may invest in securities, exchange traded funds (ETFs), and
futures contracts, swap agreements and other financial and derivative instruments.
AST BlackRock Global Strategies Portfolio: seeks a high total return consistent with a
moderate level of risk. The Portfolio is a global, multi asset-class portfolio that invests
directly in, among other things, equity and equity-related securities, investment grade debt
securities (including, without limitation, U.S. Treasuries and U.S. government securities),
non-investment grade bonds (also known as “high yield bonds” or “junk bonds”), real
estate investment trusts (REITs), exchange traded funds (ETFs), and derivative
instruments, including commodity-linked derivative instruments.
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STYLE/
TYPE
ASSET
ALLOCA-
TION
ASSET
ALLOCA-
TION
ASSET
ALLOCA-
TION
ASSET
ALLOCA-
TION
PORTFOLIO
ADVISOR/
SUBADVISOR
AlphaSimplex
Group, LLC; AQR
Capital
Management, LLC
and CNH Partners,
LLC;
CoreCommodity
Management, LLC;
First Quadrant,
L.P.; Jennison
Associates LLC;
J.P. Morgan
Investment
Management, Inc.;
Pacific Investment
Management
Company LLC
(PIMCO);
Prudential
Investments LLC;
Quantitative
Management
Associates LLC
LSV Asset
Management;
Marsico Capital
Management, LLC;
Pacific Investment
Management
Company LLC
(PIMCO);
Quantitative
Management
Associates LLC;
T. Rowe Price
Associates, Inc.;
William Blair &
Company, LLC
Prudential
Investments LLC;
Quantitative
Management
Associates LLC
BlackRock
Financial
Management, Inc.