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AST BlackRock Value Portfolio - Prudential Annuities

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The annual returns and average annual returns shown in the chart and table are after deduction of expenses and do not include<br />

Contract charges. If Contract charges were included, the returns shown would have been lower than those shown. Consult your<br />

Contract prospectus for information about Contract charges.<br />

The table also demonstrates how the <strong>Portfolio</strong>’s average annual returns compare to the returns of a custom blended stock index<br />

which includes the stocks of companies with similar investment objectives. The <strong>Portfolio</strong>’s custom blended stock index consists of<br />

the Russell 3000 Index (40%), Barclays Capital U.S. Aggregate Bond Index (50%) and MSCI EAFE (Morgan Stanley Capital<br />

International Europe, Australasia, Far East) Index (GD) (10%). The manager determined the weight of each index comprising the<br />

blended indexes.<br />

Annual Total Returns<br />

40%<br />

20%<br />

23.38<br />

11.60<br />

0%<br />

-0.51<br />

-20%<br />

-24.20<br />

-40%<br />

2008<br />

2009<br />

2010<br />

2011<br />

Best Quarter:<br />

Worst Quarter:<br />

12.83% 2 nd Quarter of 2009 -12.17% 4 th Quarter of 2008<br />

Average Annual Total Returns (For the periods ended December 31, 2011)<br />

Since Inception<br />

1 year<br />

(11/19/07)<br />

<strong>Portfolio</strong> -0.51% 1.38%<br />

Index<br />

Standard & Poor’s 500 Index (reflects no deduction for fees, expenses or taxes) 2.09% -1.77%<br />

Blended Index (reflects no deduction for fees, expenses or taxes) 3.40% 2.30%<br />

MANAGEMENT OF THE PORTFOLIO<br />

Investment Managers Subadviser <strong>Portfolio</strong> Managers Title Service Date<br />

<strong>Prudential</strong> Investments LLC Brian Ahrens, CFA Senior VP, Strategic<br />

Investment Research<br />

Group<br />

<strong>AST</strong> Investment Services, Inc. Horizon Investments, LLC Robert J. Cannon President, CEO, and<br />

Managing Member<br />

November 2007<br />

November 2007<br />

Jeffrey J. Roach, PhD Chief Economist November 2007<br />

TAX INFORMATION<br />

Contract owners should consult their Contract prospectus for information on the federal tax consequences to them. In addition,<br />

Contract owners may wish to consult with their own tax advisors as to the tax consequences of investments in the Contracts and<br />

the <strong>Portfolio</strong>, including the application of state and local taxes. The <strong>Portfolio</strong> currently intends to be treated as a partnership for<br />

federal income tax purposes. As a result, the <strong>Portfolio</strong>’s income, gains, losses, deductions, and credits are “passed through” pro<br />

rata directly to the participating insurance companies and retain the same character for federal income tax purposes.<br />

FINANCIAL INTERMEDIARY COMPENSATION<br />

If you purchase your Contract through a broker-dealer or other financial intermediary (such as a bank), the issuing insurance<br />

company, the <strong>Portfolio</strong> or their related companies may pay the intermediary for the sale of the Contract, the selection of the<br />

<strong>Portfolio</strong> and related services. These payments may create a conflict of interest by influencing the broker-dealer or other<br />

116

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