EQUI-VEST - AXA Equitable

Equity Portfolios (continued)
Annual Portfolio Operating Expenses
(expenses that are deducted from Portfolio assets)
EQ/Van Kampen Mid Cap Growth Portfolio
Class IB Shares
Management Fee 0.70%
Distribution and/or Service Fee (12b-1 fees) 0.25%†
Other Expenses 0.15%
Total Annual Portfolio Operating Expenses 1.10%
Less Fee Waiver/Expense Reimbursement* –0.05%
Net Annual Portfolio Operating Expenses** 1.05%
† The maximum annual distribution and/or service (12b-1) fee for the Portfolio’s
Class IB shares is 0.50% of the average daily net assets attributable to the Portfolio’s
Class IB shares. Under an arrangement approved by the Trust’s Board of Trustees,
the distribution and/or service (12b-1) fee currently is limited to 0.25% of the
average daily net assets attributable to the Portfolio’s Class IB shares. This
arrangement will be in effect at least until April 30, 2009.
* Pursuant to a contract, the Manager has agreed to make payments or waive its
management, administrative and other fees to limit the expenses of the Portfolio
through April 30, 2009 (unless the Board of Trustees consents to an earlier revision
or termination of this arrangement) (“Expense Limitation Agreement”) so that the
Annual Portfolio Operating Expenses of the Portfolio (exclusive of taxes, interest,
brokerage commissions, capitalized expenses, fees and expenses of other investment
companies in which the Portfolio invests and extraordinary expenses) do not
exceed the amount shown above under Net Annual Portfolio Operating Expenses.
The Manager may be reimbursed the amount of any such payments and waivers in
the future provided that the payments or waivers are reimbursed within three years
of the payment or waiver being made and the combination of the Portfolio’s expense
ratio and such reimbursements do not exceed the Portfolio’s expense cap. The
Manager may discontinue these arrangements at any time after April 30, 2009. For
more information on Expense Limitation Agreement, see “Management of the Trust
– Expense Limitation Agreement.”
** A portion of the brokerage commissions that the Portfolio pays is used to reduce the
Portfolio’s expenses. Including this reduction the Net Annual Portfolio Operating
Expenses for the Portfolio would be 1.04% for Class IB shares.
Example
This Example is intended to help you compare the cost of investing in
the Portfolio with the cost of investing in other investment options.
The example assumes that you invest $10,000 in the Portfolio for the
time periods indicated, that your investment has a 5% return each year,
that the Portfolio’s operating expenses remain the same and that the
expense limitation arrangement is not renewed. This Example should
not be considered a representation of past or future expenses of the
Portfolio. Actual expenses may be higher or lower than those shown.
The costs in this Example would be the same whether or not you
redeemed all of your shares at the end of these periods. This Example
does not reflect any Contract-related fees and expenses, which would
increase overall fees and expenses. Similarly, the annual rate of return
assumed in the Example is not an estimate or guarantee of future
investment performance. Based on these assumptions your costs would
be:
WHO MANAGES THE PORTFOLIO
Morgan Stanley Investment Management Inc. (“MSIM Inc.”),
522 Fifth Avenue, New York, NY 10036. MSIM Inc. has been the Adviser
to the Portfolio since the Portfolio commenced operations. MSIM
Inc. (which does business in certain instances using the name Van
Kampen) conducts a worldwide portfolio management business and
provides a broad range of portfolio management services to customers
in the United States and abroad. As of December 31, 2007 MSIM Inc.
had approximately $589.5 billion in assets under management.
The U.S. Growth team is responsible for the day-to-day management of
the Portfolio. The current members of the team include Dennis Lynch,
David Cohen, Sam Chainani, Alexander Norton and Jason
Yeung. Members of the team may change from time to time.
Dennis Lynch is a Managing Director with Van Kampen. He joined the
firm in 1998 and has had portfolio management responsibilities for
more than five years.
David Cohen is a Managing Director with Van Kampen. He joined the
firm in 1993 and has had portfolio management responsibilities for
more than five years.
Sam Chainani is a Managing Director with Van Kampen. He joined
the firm in 1996 and has had portfolio management responsibilities
since June 2004. Prior to that time, Mr. Chainani was associated in an
investment capacity with Van Kampen.
Alexander Norton is a Managing Director with Van Kampen. He
joined the firm in 2000 and has had portfolio management responsibility
since July 2005. Prior to that time, Mr. Norton was an Analyst
with Van Kampen.
Jason Yeung is an Executive Director with Van Kampen. He joined the
firm in 2002, and has had portfolio management responsibilities since
September 2007. Prior to that time, Mr. Yeung was associated in an
investment capacity for Van Kampen.
The Statement of Additional Information provides additional information
about the Adviser, the Portfolio Manager(s)’ compensation,
other accounts managed by the Portfolio Manager(s) and the Portfolio
Manager(s)’ ownership of shares of the Portfolio to the extent
applicable.
Class IB
Shares
1 Year $ 107
3 Years $ 345
5 Years $ 601
10 Years $1,336
112 About the investment portfolios EQ Advisors Trust