AST BlackRock Value Portfolio - Prudential Annuities

SUMMARY: AST LORD ABBETT CORE FIXED-INCOME PORTFOLIO
INVESTMENT OBJECTIVE
The investment objective of the Portfolio is to seek income and capital appreciation to produce a high total return.
PORTFOLIO FEES AND EXPENSES
The table below shows the fees and expenses that you may pay if you invest in shares of the Portfolio. The table does not include
Contract charges. Because Contract charges are not included, the total fees and expenses that you will incur will be higher than
the fees and expenses set forth in the table. See your Contract prospectus for more information about Contract charges.
Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees .80%
Distribution (12b-1) Fees
None
Other Expenses .13%
Acquired Fund Fees & Expenses
__
Total Annual Portfolio Operating Expenses .93%
Fee Waiver or Expense Reimbursement + -.11
Net Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement + .82%
Example. The following example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in
other mutual funds. The table does not include Contract charges. Because Contract charges are not included, the total fees and
expenses that you will incur will be higher than the fees and expenses set forth in the example. See your Contract prospectus for
more information about Contract charges.
The example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at
the end of those periods. The example also assumes that your investment has a 5% return each year and that the Portfolio’s
operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions, your costs
would be:
1 Year 3 Years 5 Years 10 Years
AST Lord Abbett Core Fixed-Income Portfolio** $84 $285 $504 $1,133
+ The Investment Managers (Prudential Investments LLC and AST Investment Services, Inc.) have contractually agreed to waive a portion of their investment management fee, so that
the effective management fee rate paid by the Portfolio is as follows: 0.70% to $500 million of average daily net assets; 0.675% over $500 million in average daily net assets up to
and including $1 billion in average daily net assets; and 0.65% over $1 billion in average daily net assets. This arrangement may not be terminated or modified prior to June 30, 2014,
and may be discontinued or modified thereafter. The decision on whether to renew, modify or discontinue the arrangement after June 30, 2014 will be subject to review by the Investment
Managers and the Fund’s Board of Trustees.
** Takes into account the contractual expense cap that runs until June 30, 2014 as described above.
Portfolio Turnover. The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual
portfolio operating expenses or in the example, affect the Portfolio’s performance. During the most recent fiscal year ended
December 31, the Portfolio’s turnover rate was 696% of the average value of its portfolio.
INVESTMENTS, RISKS AND PERFORMANCE
Principal Investment Strategies. To pursue its investment objective under normal market conditions, the Portfolio follows a
non-fundamental policy of investing at least 80% of its net assets in fixed-income securities of various types. The 80% investment
policy applies at the time the Portfolio invests its assets.
Under normal market conditions, the Portfolio invests primarily in (i) securities issued or guaranteed by the U.S. government, its
agencies or government-sponsored enterprises; (ii) investment grade debt securities of U.S. issuers; (iii) investment grade debt
securities of non-U.S. issuers that are denominated in U.S. dollars; (iv) mortgage-backed and other asset-backed securities;
(v) inflation-linked investments; (vi) senior loans, and loan participations and assignments; and (vii) derivative instruments, such as
options, futures contracts, forward contracts and swap agreements. Investment grade debt securities are securities rated within the
four highest grades assigned by a rating agency such as Moody’s Investors Service, Inc., Standard & Poor’s Ratings Services, or
Fitch Ratings, or are unrated but determined by Lord Abbett to be of comparable quality.
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