AST BlackRock Value Portfolio - Prudential Annuities

the Portfolio’s positions against potential adverse movements in securities prices, foreign currency markets or interest rates. To a
limited extent, the Portfolio may also use derivative instruments for non-hedging purposes such as increasing the Portfolio’s
income or otherwise enhancing return.
AST MFS GLOBAL EQUITY PORTFOLIO
Investment Objective: capital growth.
Principal Investment Policies:
The Portfolio has a non-fundamental policy to invest, under normal circumstances, at least 80% of its net assets in equity
securities. Equity securities represent an ownership interest, or the right to acquire an ownership interest in a company or other
issuer. Different types of equity securities provide different voting and dividend rights and priorities in the event of bankruptcy of
the issuer. Equity securities include common stocks, preferred stocks, securities convertible into stocks, and depositary receipts for
those securities.
In selecting investments for the Portfolio, the Subadviser is not constrained to any particular investment style. The Subadviser may
invest the Portfolio’s assets in the stocks of companies it believes to have above average earnings growth potential compared to
other companies (growth companies), in the stocks of companies it believes are undervalued compared to their perceived worth
(value companies), or in a combination of growth and value companies.
While the Subadviser may invest the Portfolio’s assets in companies of any size, the Subadviser generally focuses on companies
with large capitalizations.
The Subadviser may invest the Portfolio’s assets in U.S. and foreign securities, including emerging market securities.
The Subadviser may invest a large percentage of the Portfolio’s assets in issuers in a single country, a small number of countries, or
a particular geographic region.
The Subadviser uses a bottom-up investment approach to buying and selling investments for the Portfolio. Investments are selected
primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market,
economic, political, and regulatory conditions. Factors considered may include analysis of an issuer’s earnings, cash flows,
competitive position, and management ability. Quantitative models that systematically evaluate an issuer’s valuation, price and
earnings momentum, earnings quality, and other factors may also be considered.
The Subadviser may engage in active and frequent trading in pursuing the Portfolio’s principal investment strategies.
Other Investments:
Although the Portfolio invests primarily in equity securities, the Portfolio may purchase and sell futures contracts and related
options on securities indices, foreign currencies and interest rates for hedging and non-hedging purposes. The Portfolio may also
enter into forward contracts for the purchase or sale of foreign currencies for hedging and non-hedging purposes. The Portfolio
may purchase and write (sell) options on securities, stock indices and foreign currencies. The Portfolio may also
purchase warrants.
AST MFS GROWTH PORTFOLIO
Investment Objective: long-term growth of capital and future, rather than current, income.
Principal Investment Policies:
The Portfolio invests, under normal market conditions, at least 80% of its net assets in common stocks and related securities, such
as preferred stocks, convertible securities and depositary receipts.
The Subadviser focuses on investing the portfolio’s assets in the stocks of companies it believes to have above average earnings
growth potential compared to other companies (growth companies). Growth companies tend to have stock prices that are high
relative to their earnings, dividends, book value, or other financial measures.
While the Subadviser may invest the Portfolio’s assets in companies of any size, the Portfolio generally focuses on companies with
large capitalizations.
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