AST BlackRock Value Portfolio - Prudential Annuities

AST FI PYRAMIS ® ASSET ALLOCATION PORTFOLIO
November 19,
2007(c)
Year Ended December 31,
through
December 31,
2011 2010(d) 2009(d) 2008(d) 2007(d)
Per Share Operating Performance:
Net Asset Value, beginning of year $9.93 $8.80 $7.29 $10.03 $10.00
Income (Loss) From Investment Operations:
Net investment income 0.06 0.04 0.08 0.12 0.08
Net realized and unrealized gain (loss) on investments (0.29) 1.13 1.46 (2.85) (0.05)
Total from investment operations (0.23) 1.17 1.54 (2.73) 0.03
Less Distributions: (0.35) (0.04) (0.03) (0.01) –
Net Asset Value, end of year $9.35 $9.93 $8.80 $7.29 $10.03
Total Return(a) (2.47)% 13.32% 21.23% (27.27)% 0.30%
Ratios/Supplemental Data:
Net assets, end of year (in millions) $928.2 $785.7 $346.4 $57.8 $5.0
Ratios to average net assets(b):
Expenses After Waivers and/or Expense Reimbursement 1.32%(e) 1.21%(e) 0.37% 0.41%(f) 0.40%(g)
Expenses Before Waivers and/or Expense Reimbursement 1.33%(e) 1.22%(e) 0.38% 0.59%(f) 13.22%(g)
Net investment income 0.73% 0.44% 0.96% 1.38% 7.12%(g)
Portfolio turnover rate 275% 334% 190% 347% 97%(h)
(a) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of distributions and does
not reflect the effect of insurance contract charges. Total return does not reflect expenses associated with the separate account such as administrative fees, account charges and
surrender charges which, if reflected, would reduce the total return for all periods shown. Performance figures may reflect voluntary fee waivers and/or expense reimbursements. In
the absence of voluntary fee waivers and/or expense reimbursements, the total return would be lower. Past performance is no guarantee of future results. Total returns may reflect
adjustments to conform to generally accepted accounting principles. Total returns for periods of less than one year are not annualized.
(b) Does not include expenses of the underlying portfolios in which the Portfolio invests.
(c) Commencement of operations.
(d) Calculated based on average shares outstanding during the period.
(e) The expense ratio includes dividend expense and broker fees and expenses on short sales of 0.28% and 0.18% for the years ended December 31, 2011 and 2010, respectively.
(f) Includes loan interest expense of 0.01%.
(g) Annualized.
(h) Not annualized.
432