Investment Fact Sheets
         Please read all of the documents contained in this booklet
(Click on a fund in the Table o...
PruSecure Account                                                                                                         ...
Fourth Quarter 2006
PruSecure Account                                                                                     ...
MoneyMart Assets Series A                                                                                                 ...
Target Total Return Bond Fund R                                                                                           ...
Dryden Government Income R                                                                                                ...
Dryden High-Yield R                                                                                                       ...
Target Large Cap Growth Fund R                                                                                            ...
Jennison Growth R                                                                                                         ...
Investment Fact Sheets
Investment Fact Sheets
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Investment Fact Sheets
Investment Fact Sheets
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Investment Fact Sheets

  1. 1. Investment Fact Sheets Please read all of the documents contained in this booklet (Click on a fund in the Table of Contents to be directed to that fund’s specific fact sheet) TABLE OF CONTENTS PAGE PruSecure (non-New York) 2 PruSecure (New York version) 3 MoneyMart Assets Series A 4 Target Total Return Bond Fund R 5 Dryden Government Income R 6 Dryden High-Yield R 7 Target Large Cap Growth Fund R 8 Jennison Growth R 9 Dryden Stock Index A 10 Jennison 20/20 Focus R 11 Target Large Cap Value Fund R 12 Jennison Value R 13 Jennison Mid Cap Growth R 14 Target Small Cap Growth Fund R 15 Jennison Small Company R 16 Target Small Cap Value Fund R 17 Target International Equity Fund R 18 Jennison Natural Resources Fund R 19 Jennison Utility Fund R 20 User’s Guide 21
  2. 2. PruSecure Account Fourth Quarter 2006 Fund Fact Sheet Key Facts OBJECTIVE AND STRUCTURE The PruSecure Account (the “Fund”) is a stable value product designed to provide safety of ISSUER: The Prudential Insurance principal, liquidity and a stable rate of return. Company of America INVESTMENT ADVISER: Prudential Investment THE FUND OFFERS Management, Inc. s Predictability of returns FUND CATEGORY: Stable Value s Guaranteed protection of principal and credited interest from market volatility NET ASSETS: $5,773 Million s Improved earnings power versus short-term or money market investments INCEPTION DATE: Jan. 1982 FEATURES AND PROVISIONS s Principal and interest are fully guaranteed by The Prudential Insurance Company of Investor Risk Profile America. s The guaranteed interest crediting rate is announced in advance and is guaranteed for a six This Fund may be suitable for investors who seek: month period. Past crediting rates are not indicative of future rates. s Preservation of capital plus attractive intermediate-term returns. s Pooled general account stable value product providing attractive crediting rates. s Liquidity and income. s Guaranteed interest rates are based on many factors, including current economic and market conditions, the general interest rate environment and both the expected and actual performance of the portfolio. s The Fund invests in a diversified portfolio of fixed income instruments (primarily private placement bonds, intermediate-term bonds and commercial mortgages) within The Portfolio Allocation As of 12/31/2006 Prudential Insurance Company of America’s general account. s Any withdrawals made from the PruSecure Account within one (1) year from the initial Public Corporate Bonds 35% contribution date will be subject to a 1% contingent deferred sales charge on the amounts Mortgage Loans* 22% withdrawn. Amounts withdrawn may also be subject to a Market Value Adjustment if Private Securities 22% portfolio withdrawal thresholds are met or exceeded. s Interest is credited daily. Government Bonds 3% Public Structured Bonds 16% CREDITING RATE*: 4.00% * Effective 1/1/07; for the period 1/1/07 – 6/30/07. Cash and Other 2% The PruSecure crediting rate is guaranteed by The Prudential Insurance Company of America which enjoys the following ratings: Average Quality A- Average Duration 3.1 * may include commercial, residential or agriculture loans. Rating Agency Rating Description Public Structured Bonds includes Mortgage Backed Securities and any debt that was Moody’s Aa3 Excellent used to purchase these securities. Standard & Poor’s AA- Very Strong U.S. Treasury Rates As of 12/31/2006 A.M. Best A+ Superior Fitch AA- Very Strong 5.5% Claims-paying ratings represent the opinions of rating agencies regarding the financial ability of an insurance 5.0% company to meet its obligations under its insurance policies. According to Standard & Poor’s publications, an insurer rated “AA-” has very strong financial security characteris- 4.5% tics, differing only slightly from those rated higher. An insurer rated “AAA” has extremely strong financial security characteristics. “AAA” is the highest Insurer Financial Strength Rating assigned by Standard & Poor’s. 4.0% Moody’s indicates that “Aa3” rated insurance companies offer excellent financial security. Insurance companies rated “Aaa” offer exceptional financial security. In addition, Moody’s appends numerical modifiers 1, 2, 3 to each generic rating classification, with 1 being the highest and 3 being the lowest. While the credit policy of these compa- 3.5% nies is likely to change, such changes as can be visualized are most unlikely to impair their fundamentally strong Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2006 position. “Aaa” is the highest Insurer Financial Strength Rating assigned by Moody’s. 3 Year Fitch indicates that “AA-” companies are viewed as possessing very strong capacity to meet policyholder and con- tract obligations. Risk factors are modest, and the impact on any adverse business and economic factors is expected to be very small. According to Fitch, “AAA” is Exceptionally Strong. Insurers assigned this highest rating are viewed as possessing an exceptionally strong capacity to meet policyholder and contract obligations. For such companies, risk factors are minimal and the impact on any adverse business and economic factors is expected to be extremely small. “AAA” is the highest rating issued by Fitch. A.M. Best considers “A+” rated companies to have a superior ability to meet their ongoing obligations to policyhold- ers. An “A++” rating is assigned to companies that have, in their opinion, a superior ability to meet their ongoing obligations to policyholders. “A++” is the highest rating issued by A.M. Best. Rating information current as of January 26, 2007. For current information on other Prudential Financial operating insurance companies, please visit the Investor Relations website at www.investor.prudential.com. The PruSecure Account is a group annuity product issued by The Prudential Insurance Company of America, Newark, NJ and is backed by the full faith and creditworthiness of the issuer. Deposits made to the product are deposited in the issuer’s general account. Principal and interest are fully guaranteed by the issuer. The Prudential Insurance Company of America and Prudential Investment Management, Inc. (PIM) are Prudential Financial companies. PIM is a registered investment advisor. Prudential Financial is a registered service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20061227-A018507 589252-406
  3. 3. Fourth Quarter 2006 PruSecure Account Fund Fact Sheet New York Version Key Facts OBJECTIVE AND STRUCTURE The PruSecure Account (the “Fund”) is a stable value product designed to provide safety of ISSUER: The Prudential Insurance principal, liquidity and a stable rate of return. Company of America INVESTMENT ADVISER: Prudential Investment THE FUND OFFERS Management, Inc. s Predictability of returns FUND CATEGORY: Stable Value s Guaranteed protection of principal and credited interest from market volatility NET ASSETS: $5,773 Million s Improved earnings power versus short-term or money market investments INCEPTION DATE: Jan. 1982 FEATURES AND PROVISIONS s Principal and interest are fully guaranteed by The Prudential Insurance Company of Investor Risk Profile America. s The guaranteed interest crediting rate is announced in advance and is guaranteed for a six This Fund may be suitable for investors who seek: month period. Past crediting rates are not indicative of future rates. s Preservation of capital plus attractive intermediate-term returns. s Pooled general account stable value product providing attractive crediting rates. s Liquidity and income. s Guaranteed interest rates are based on many factors, including current economic and market conditions, the general interest rate environment and both the expected and actual performance of the portfolio. s The Fund invests in a diversified portfolio of fixed income instruments (primarily private placement bonds, intermediate-term bonds and commercial mortgages) within The Portfolio Allocation As of 12/31/2006 Prudential Insurance Company of America’s general account. s Amounts withdrawn may be subject to a Market Value Adjustment if individual account Public Corporate Bonds 35% withdrawal thresholds are met or exceeded. Mortgage Loans* 22% s Interest is credited daily. Private Securities 22% Government Bonds 3% CREDITING RATE*: 4.00% * Effective 1/1/07; for the period 1/1/07 – 6/30/07. Public Structured Bonds 16% Cash and Other 2% The PruSecure crediting rate is guaranteed by The Prudential Insurance Company of America which enjoys the following ratings: Average Quality A- Average Duration 3.1 * may include commercial, residential or agriculture loans. Rating Agency Rating Description Public Structured Bonds includes Mortgage Backed Securities and any debt that was used to purchase these securities. Moody’s Aa3 Excellent Standard & Poor’s AA- Very Strong U.S. Treasury Rates As of 12/31/2006 A.M. Best A+ Superior Fitch AA- Very Strong 5.5% Claims-paying ratings represent the opinions of rating agencies regarding the financial ability of an insurance 5.0% company to meet its obligations under its insurance policies. According to Standard & Poor’s publications, an insurer rated “AA-” has very strong financial security characteris- 4.5% tics, differing only slightly from those rated higher. An insurer rated “AAA” has extremely strong financial security characteristics. “AAA” is the highest Insurer Financial Strength Rating assigned by Standard & Poor’s. 4.0% Moody’s indicates that “Aa3” rated insurance companies offer excellent financial security. Insurance companies rated “Aaa” offer exceptional financial security. In addition, Moody’s appends numerical modifiers 1, 2, 3 to each 3.5% generic rating classification, with 1 being the highest and 3 being the lowest. While the credit policy of these compa- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec nies is likely to change, such changes as can be visualized are most unlikely to impair their fundamentally strong 2006 position. “Aaa” is the highest Insurer Financial Strength Rating assigned by Moody’s. 3 Year Fitch indicates that “AA-” companies are viewed as possessing very strong capacity to meet policyholder and con- tract obligations. Risk factors are modest, and the impact on any adverse business and economic factors is expected to be very small. According to Fitch, “AAA” is Exceptionally Strong. Insurers assigned this highest rating are viewed as possessing an exceptionally strong capacity to meet policyholder and contract obligations. For such companies, risk factors are minimal and the impact on any adverse business and economic factors is expected to be extremely small. “AAA” is the highest rating issued by Fitch. A.M. Best considers “A+” rated companies to have a superior ability to meet their ongoing obligations to policyhold- ers. An “A++” rating is assigned to companies that have, in their opinion, a superior ability to meet their ongoing obligations to policyholders. “A++” is the highest rating issued by A.M. Best. Rating information current as of January 26, 2007. For current information on other Prudential Financial operating insurance companies, please visit the Investor Relations website at www.investor.prudential.com. The PruSecure Account is a group annuity product issued by The Prudential Insurance Company of America, Newark, NJ and is backed by the full faith and creditworthiness of the issuer. Deposits made to the product are deposited in the issuer’s general account. Principal and interest are fully guaranteed by the issuer. The Prudential Insurance Company of America and Prudential Investment Management, Inc. (PIM) are Prudential Financial companies. PIM is a registered investment advisor. Prudential Financial is a registered service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20061227-A018507 589252-406/New York ed.
  4. 4. MoneyMart Assets Series A First Quarter 2007 Fund Fact Sheet Typical Risk / Reward Relationships INVESTMENT OBJECTIVE Maximum current income consistent with stability of capital and maintenance of liquidity. Potentially PRIMARY INVESTMENTS Higher STOCKS A diversified portfolio of short-term debt obligations issued or guaranteed by the U.S. Government or its Reward agencies or instrumentalities. Obligations include, but are not limited to, obligations issues by the U.S. Government, its agencies and instrumentalities, commercial paper, asset-backed securities, funding agreements, variable rate demand notes, bills notes, and other obligations issued by banks, corporations STABLE and other companies (including trust structures), obligations issued by foreign banks, companies or BONDS VALUE foreign governments, and municipal notes. Potentially INVESTMENT ADVISOR Lower MONEY Prudential Investment Management, Inc. (PIM) is the Fund’s investment adviser. Joseph Tully has primary Reward MARKET responsibility for overseeing the day-to-day management of the fund. Potentially Potentially HOW THE FUND IS INVESTED Lower Risk Higher Risk The Fund invests in high-quality money market instruments to try to provide investors with current income while maintaining a stable net asset value of $1 per share. We manage the Fund to comply with The typical risk/reward relationships illustrated here are based solely on specific rules designed for money market mutual funds. This means that we manage the Fund's portfolio the characteristics of the general investment categories of the investment to comply with the requirements of the Investment Company Act of 1940, as amended (the 1940 Act) options and not on actual security holdings, which can change frequently. Rule 2a-7. As such, we will not acquire any security with a remaining maturity exceeding thirteen months, and we will maintain a dollar-weighted average portfolio maturity of 90 days or less. In addition, Risks (potential for loss of principal value) associated with the investment we will comply with the diversification, quality and other requirements of Rule 2a-7. This means, general- options can vary significantly within each particular investment category ly, that the instruments we purchase present "minimal credit risk" and are of "eligible quality." "Eligible and the relative risks of the categories may change under certain economic quality" for this purpose means a security: (a) rated in one of the two highest short-term rating cate- conditions. For a more complete discussion of risks associated with the gories by at least two nationally recognized statistical rating organizations (NRSROs) or, if only one mutual fund options, please read the prospectus carefully before making NRSRO has rated the security, so rated by that NRSRO; (b) rated in one of the three highest long-term your investment decision. The typical relationships shown do not represent rating categories by at least two NRSROs or, if only one NRSRO has rated the security, so rated by that actual or implied performance. Based on the investment objective of this NRSRO; or (c) if unrated, of comparable quality as determined by the Fund's investment adviser. All Fund, its risk/reward potential is indicated in the illustration. securities that we purchase will be denominated in U.S. dollars but may be issued by a foreign issuer. An investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The yield quotation more closely reflects the current earnings of the Portfolio than the total return quotation. Performance* (%) As of 3/31/2007 AVERAGE ANNUAL TOTAL RETURNS 1 Year 3 Year 5 Year 10 Year MoneyMart Assets – Series A 4.69% 2.92% 2.09% 3.41% The 7-Day Current yield as of 3/31/2007 is 4.84% Citigroup 3 Mo. T-Bill Index 4.98% 3.33% 2.51% 3.67% Fund’s Inception Date: 06/01/1976 *Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a 12b-1 fee of (0.125%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). Performance was provided by Prudential Investment Management Services (PIMS). The performance quoted represents past perfor- mance. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Past performance does not guarantee future results. Current performance may be lower or higher than the per- formance data quoted. For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website at www.prudential.com. Performance results reflect the reinvestment of all income earned in the Account. Results are stated prior to the deduction of any investment advisory fees, and, if reflected, would reduce the performance quoted. Investors should carefully consider a fund’s investment objectives, risks, charges and expenses before investing. For more complete infor- mation about the investment options available through your accouunt, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Read the prospectus carefully before investing. Citigroup 3 Month T-Bill Index is an index whereby equal dollar amounts of three month Treasury Bills are purchased at the beginning of each of three consecutive months. As each bill matures, all proceeds are rolled over or reinvested in a new three month bill. The income used to calculate the monthly return is derived by subtracting the original amount invested from the maturity value. The Index performance reflects reinvestment of earnings, but has not been reduced to reflect the costs associated with investment management / advisory fees and transaction costs. Investors cannot invest directly in an index. These performance results represent the change in net asset value of an investment over a stated period, assuming the reinvestment of dividends and capital gains distributions. Shares of this fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark NJ and its affiliates. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A021223 PBMXX /Ed 3/31/2007
  5. 5. Target Total Return Bond Fund R First Quarter 2007 Sub-Advised by Pacific Investment Management Company (PIMCO) Fund Fact Sheet Objective/Description Key Facts The investment seeks current income and capital appreciation. The fund invests at least 80% of assets in "investment INVESTMENT ADVISOR: Prudential Investments grade" debt obligations issued or guaranteed by the U.S. Government and its agencies, or issued by U.S. companies, LLC foreign companies and foreign governments and their agencies and unrated debt obligations that we believe are FUND CATEGORY: Intermediate-Term Bond comparable in quality. It invests up to 30% of total assets in foreign currency-denominated debt obligations. There is INDEX: LB 5-10 Yr Govt/Credit® no assurance that the objectives of the Fund will be met. NET ASSETS: $5.2 Million INCEPTION DATE: 1/5/1993 Shares of this fund are not issued or guaranteed by the U.S. Government. The guarantee on U.S. Government TICKER SYMBOL: TTBRX securities applies only to the underlying securities of the Fund’s portfolio and not to the value of the fund’s shares. EXPENSE RATIO: 1.51% PORTFOLIO MANAGER: Chris P. Dialynas Top Ten Holdings As of 12/31/2006 Quality Distribution As of 12/31/2006 Investor Risk Profile Fin Fut On 5yr Note ................................................... 10.48% Fin Fut Euro$ Cme 12/17/07 ....................................... 4.65% EuroDollar (Fut) ........................................................... 4.38% Fin Fut Euro$ Cme 9/17/07 ......................................... 4.33% Data Not Available Fin Futures Euribor Lif 6-18-07 Maturity 06/30/07 ..... 4.25% Interest Rate Swap Usd R 3ml/5.00% 06/18/09 Effect 3.65% Morningstar Style BoxTM As of 3/31/2007 Federal National Mortage Association ....................... 3.32% Fin Futures Gbp 90 Day Lif 9-19-07 ............................. 2.75% Federal National Mortage Association ....................... 2.70% US Treasury Note 4.875% .......................................... 2.55% Data Not Available Top Ten Holdings are unaudited and are ranked as a percentage of net assets. Sector/Industry Allocation As of 12/31/2006 Portfolio Characteristics As of 12/31/2006 Cash (%of FI assets) ... 28.78% TIPS ......................... 2.88% Fund Index ▼ Mtg Pass-thru ............. 26.52% Municipal ................ 1.52% Effective Duration NA NA Results of $10,000 Investment* US Corporate............... 18.45% Mortgage CMO........ 1.22% Average Maturity NA NA US Treasury................. 16.62% Foreign Govt ............ 0.65% Average Quality NA NA 25,000.00 Asset-Backed ................ 2.93% US Agency ............... 0.44% Average Coupon 3.05% NA 20,000.00 15,000.00 Performance*(%) As of 3/31/2007 10,000.00 Cumulative Returns Average Annual Total Returns _ 5,000.00 Since - QTD YTD 1 Year 3 Year 5 Year 10 Year Inception 96 97 98 99 00 01 02 03 04 05 06 Fund 1.51 1.51 4.79 2.52 5.24 5.90 --- Index ▼ 0.88 0.88 5.86 3.38 5.90 6.83 --- Target Total Return Bond $19,712 * Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a Annual Performance* 12b-1 fee of (0.50%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). The expense Fund ▼ ratio after the waiver is 1.26%. Index 2006 2.59% 5.78% Performance Disclosure: Investment results assume all distributions are reinvested and reflect applicable fees and 2005 1.83% 2.12% expenses. Class R shares were introduced on August 21, 2006; results prior to that date are hypothetical, based on 2004 3.95% 5.12% Class T share returns at net asset value adjusted for additional distribution and service (12b-1) fees of 0.75% 2003 8.03% 8.27% annually. The Portfolio's Distributor has contractually agreed to waive 0.25% annually of the Class R 12b-1 fee 2002 8.53% 8.20% through August 31, 2007. Hypothetical Class R share returns would be greater with the waiver. In creating 2001 7.50% 12.86% hypothetical Class R share returns, no adjustments are made for any differences in other expenses of Class R and 2000 9.83% 8.76% Class T shares that may or may not impact hypothetical Class R share returns. Please see the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class. The performance quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website at www.prudential.com Prospectus Disclosure: Investors should carefully consider a fund's investment objectives, risks, charges and expenses before investing. For more complete information about the investment options available through your account, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Please read the prospectus carefully before investing. ▼ Benchmark Disclosure: Benchmark related performance including the index is unmanaged and it cannot be invested directly. Shares of each fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A023571
  6. 6. Dryden Government Income R First Quarter 2007 Fund Fact Sheet Objective/Description Key Facts The investment seeks current income. The fund invests at least 80% of assets in U.S. government securities, including INVESTMENT ADVISOR: Prudential Investments U.S. treasury bills, notes, bonds, strips and other debt securities issued by the U.S. treasury, and obligations, LLC including mortgage-related securities, issued or guaranteed by U.S. government agencies or instrumentalities. It FUND CATEGORY: Intermediate Government nomally invests up to 20% of assets in money market instruments, including commercial paper of U.S. companies, INDEX: Lehman Brothers short-term obligations of banks, certificates of deposit, and banker's acceptances. The fund may invest in foreign bank Government Bond® debt. There is no assurance that the objectives of the Fund will be met. NET ASSETS: $0.8 Million INCEPTION DATE: 5/17/2004 Shares of this fund are not issued or guaranteed by the U.S. Government. The guarantee on U.S. Government TICKER SYMBOL: JDRVX securities applies only to the underlying securities of the Fund’s portfolio and not to the value of the fund’s shares. EXPENSE RATIO: 1.47% PORTFOLIO MANAGERS: Peter Cordrey Top Ten Holdings As of 12/31/2006 Quality Distribution As of 12/31/2006 Robert Tipp, CFA Richard Piccirillo Dryden Core Short Corp Bond ................................... 11.23% FNMA 4.875% ............................................................ 6.10% FNMA 5.3% ................................................................ 4.70% Investor Risk Profile FNMA 5.5% ................................................................ 2.29% FNCI 5% ...................................................................... 2.23% AAA 99.88% A 0.12% Data Not Available FGLMC 5% .................................................................. 1.98% Tennessee Valley Auth 4.375% .................................. 1.97% US Treasury Note 3.875% .......................................... 1.95% As of 3/31/2007 FHLMC 5% .................................................................. 1.91% Morningstar Style BoxTM FHLBA ......................................................................... 1.59% Top Ten Holdings are unaudited and are ranked as a The vertical axis represents the percentage of net assets. Fund's average credit quality as measured by Standard & Poor's Sector/Industry Allocation As of 12/31/2006 Portfolio Characteristics As of 12/31/2006 rating service. High >= AA Mtg Pass-thru ............. 33.70% US Treasury ............. 3.31% Fund Index ▼ Medium <AA and >=BBB US Agency................... 27.08% TIPS ......................... 2.04% Effective Duration 4.19 Yrs NA Low <BBB Cash (%of FI assets) ... 11.88% Foreign Corp ............ 0.74% The horizontal axis represents the Average Maturity NA NA Fund's sensitivity to interest rates as Mortgage CMO ........... 11.63% Foreign Govt ............ 0.65% Average Quality AAA NA measured by the average effective US Corporate................. 4.48% Municipal ................ 0.13% Average Coupon 4.88% NA duration: Short <=3.5 Yrs Asset-Backed ................ 4.36% Medium > 3.5 Yrs and <=6 Yrs Long > 6 Yrs As of 3/31/2007 Performance*(%) Cumulative Returns Average Annual Total Returns _ Results of $10,000 Investment* Since QTD YTD 1 Year 3 Year 5 Year 10 Year Inception 20,000.00 Fund 1.14 1.14 4.93 2.10 3.92 5.12 --- 15,000.00 Index ▼ 1.44 1.44 5.93 2.70 5.07 6.25 --- 10,000.00 * Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a 5,000.00 12b-1 fee of (0.50%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). The expense - ratio after the waiver is 1.22%. 96 97 98 99 00 01 02 03 04 05 06 Past performance does not guarantee future results. Current performance may be lower or higher than the performance Dryden Government Income A $16,409 data quoted. The performance quoted represents past performance. The investment return and principal value will fluctuate Annual Performance* so that an investor's shares, when redeemed, may be worth more or less than original cost. Past performance Fund Index ▼ does not guarantee future results. Current performance may be lower or higher than the performance data quoted. 2006 2.91% 3.48% For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website 2005 1.80% 2.65% at www.prudential.com 2004 2.49% 3.48% 2003 1.44% 2.36% Performance Disclosure: Investment results assume all distributions are reinvested and reflect applicable fees and 2002 9.60% 11.50% expenses. Class R shares were introduced on May 17, 2004; results prior to that date are hypothetical, based on 2001 7.14% 7.23% Class A share returns at net asset value adjusted for additional distribution and service (12b-1) fees of 0.75% 2000 10.98% 13.24% annually. The Portfolio's Distributor has contractually agreed to waive 0.25% annually of the Class R 12b-1 fee through August 31, 2007. Hypothetical waiver. In creating hypothetical Class R share returns, no adjustments are made for any differences in other expenses of Class R and Class A shares that may or may not impact hypothetical Class R share returns. Please see the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class. Prospectus Disclosure: Investors should carefully consider a fund's investment objectives, risks, charges and expenses before investing. For more complete information about the investment options available through your account, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Please read the prospectus carefully before investing. ▼ Benchmark Disclosure: Benchmark related performance including the index is unmanaged and it cannot be invested directly. Shares of each fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A021218
  7. 7. Dryden High-Yield R First Quarter 2007 Fund Fact Sheet Objective/Description Key Facts The investment seeks to maximize current income; capital appreciation is a secondary consideration. The fund INVESTMENT ADVISOR: Prudential Investments normally invests at least 80% of assets in a diversified portfolio of high-yield fixed-income securities rated Ba or LLC lower by Moody's, or BB or lower by Standard & Poor's. It may invest in U.S.- dollar-denominated foreign-debt FUND CATEGORY: High Yield Bond securities and in foreign-currency-denominated debt securities. There is no assurance that the objectives of the Fund INDEX: Credit Suisse High will be met. Yield® NET ASSETS: $0.2 Million High yield "junk" bonds involve a greater risk of default of payment of principal and interest than higher-rated INCEPTION DATE: 6/3/2005 bonds. Also, these bonds tend to be less liquid than higher-rated securities. Therefore, an investment in the Fund TICKER SYMBOL: JDYRX may not be appropriate for short-term investing. EXPENSE RATIO: 1.36% PORTFOLIO MANAGERS: Michael J. Collins, CFA Top Ten Holdings As of 12/31/2006 Quality Distribution As of 12/31/2006 Paul Appleby, CFA Richard Burns, CFA Ford Motor Cr 7.875% ................................................. 1.73% Stephen Haeckel B 49.49% Accellent 10.5% .......................................................... 1.04% Terrence Wheat, CFA Gmac 6.875% .............................................................. 1.04% BB 31.69% El Paso 7% .................................................................. 0.94% Investor Risk Profile Qwest 7.625% ............................................................ 0.87% Below B 15.74% Cch I 11% .................................................................... 0.82% NXP B V / NXP FDG ..................................................... 0.82% BBB 1.78% Data Not Available Level 3 Fing 12.25% .................................................... 0.81% Dex Media East 12.125% ........................................... 0.81% Not Rated 1.3% As of 3/31/2007 Skilled Healthcare Grp 144A 11% .............................. 0.79% Morningstar Style Box TM Top Ten Holdings are unaudited and are ranked as a percentage of net assets. The vertical axis represents the As of 12/31/2006 As of 12/31/2006 Fund's average credit quality as Sector/Industry Allocation Portfolio Characteristics measured by Standard & Poor's US Corporate............... 84.04% Foreign Govt ............ 1.25% Fund ▼ rating service. Index High >= AA Foreign Corp................ 10.05% Mortgage CMO........ 0.05% Effective Duration 3.68 Yrs NA Medium <AA and >=BBB Asset-Backed ................ 2.36% Mtg Pass-thru.......... 0.04% Average Maturity NA NA Low <BBB Cash (%of FI assets) ..... 2.19% Municipal ................ 0.01% The horizontal axis represents the Average Quality B NA Fund's sensitivity to interest rates as Average Coupon 8.28% NA measured by the average effective duration: To see a full disclosure of all risks that pertain to this fund, please refer to the prospectus. Short <=3.5 Yrs Medium > 3.5 Yrs and <=6 Yrs Performance*(%) As of 3/31/2007 Long > 6 Yrs Cumulative Returns Average Annual Total Returns _ Since Results of $10,000 Investment* QTD YTD 1 Year 3 Year 5 Year 10 Year Inception Fund 2.48 2.48 10.59 7.69 8.84 5.16 --- 20,000.00 Index ▼ 3.02 3.02 11.84 8.74 11.18 7.25 --- 15,000.00 10,000.00 * Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a 12b-1 fee of (0.50%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). The expense 5,000.00 ratio after the waiver is 1.11%. - 96 97 98 99 00 01 02 03 04 05 06 Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Dryden High-Yield A $17,467 The performance quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Past performance Annual Performance* does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Fund Index ▼ For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website 2006 10.48% 11.92% at www.prudential.com 2005 2.54% 2.26% 2004 9.37% 11.96% Performance Disclosure: Investment results assume all distributions are reinvested and reflect applicable fees and 2003 25.34% 27.93% expenses. Class R shares were introduced on June 3, 2005; results prior to that date are hypothetical, based on Class 2002 -2.23% 3.11% A share returns at net asset value adjusted for additional distribution and service (12b-1) fees of 0.75% annually. The 2001 -0.26% 5.78% Portfolio's Distributor has contractually agreed to waive 0.25% annually of the Class R 12b-1 fee through August 31, 2000 -7.35 % -5.21% 2007. Hypothetical waiver. In creating hypothetical Class R share returns, no adjustments are made for any differences in other expenses of Class R and Class A shares that may or may not impact hypothetical Class R share returns. Please see the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class. Prospectus Disclosure: Investors should carefully consider a fund's investment objectives, risks, charges and expenses before investing. For more complete information about the investment options available through your account, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Please read the prospectus carefully before investing. ▼ Benchmark Disclosure: Benchmark related performance including the index is unmanaged and it cannot be invested directly. Shares of each fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A021220
  8. 8. Target Large Cap Growth Fund R First Quarter 2007 Co-Investment Advisors: Marsico Capital, and Goldman Sachs Asset Management Fund Fact Sheet Objective/Description Key Facts The investment seeks long-term capital appreciation. The fund normally invests at least 80% of total assets in INVESTMENT ADVISOR: Prudential Investments LLC common stocks of companies with a total market capitalization of $5 billion or more (measured at the time of FUND CATEGORY: Large Growth purchase). It looks to invest in those securities that will experience earnings growth at a rate faster than that of the INDEX: Russell 1000 Growth® S&P 500 index. There is no assurance that the objectives of the Fund will be met. NET ASSETS: $7.4 Million INCEPTION DATE: 1/5/1993 TICKER SYMBOL: TLCRX Top Ten Holdings As of 12/31/2006 Portfolio Allocation As of 12/31/2006 SHARE CLASS: Other EXPENSE RATIO: 1.51% UnitedHealth Group, Inc. ............................................. 4.02% PORTFOLIO MANAGERS: Thomas F. Marsico Cisco Systems, Inc. ..................................................... 2.88% US Stocks 92.87% Robert C. Jones, CFA Goldman Sachs Group, Inc. ......................................... 2.73% Melissa Brown, CFA Genentech, Inc. ........................................................... 2.52% Comcast Corporation A ............................................... 2.19% Non-US Stocks 7.08% Procter & Gamble Company ........................................ 2.17% Investor Risk Profile Monsanto Company .................................................... 2.05% FedEx Corporation ....................................................... 1.93% Cash 0.05% Microsoft Corporation ................................................. 1.79% Burlington Northern Santa Fe Corporation ................. 1.79% Top Ten Holdings are unaudited and are ranked as a percentage of net assets. As of 3/31/2007 Sector Allocation As of 12/31/2006 Portfolio Characteristics As of 12/31/2006 Morningstar Style BoxTM Consumer Services ........ 16.56% Consumer Goods.......6.97% Fund Index ▼ Healthcare...................... 16.42% Media........................5.28% Weighted Geometric Market Cap. $36.38 $33.50 Domestic equity funds are placed in a category based on the style and Financial Services .......... 13.54% Software ...................3.59% Price/Earnings Ratio (Forward) 18.73x 18.08x size of the stocks they typically Industrial Materials ....... 13.37% Energy .......................3.16% Price/Book Ratio 3x 3.54x own. The style and size parameters Hardware .........................9.85% Telecommunications.1.49% Dividend Yield NA NA are based on the divisions used in 3-Year Earnings Growth Rate 27.23% 22.62% the investment style box: Value, Business Services ............8.61% Utilities .....................1.16% Blend, or Growth style and Small, Medium, or Large geometric average market capitalization. Performance*(%) As of 3/31/2007 Cumulative Returns Average Annual Total Returns Since Results of $10,000 Investment* QTD YTD 1 Year 3 Year 5 Year 10 Year Inception Fund -0.26 -0.26 3.32 5.49 1.91 7.24 --- 50,000.00 Index ▼ 1.19 1.19 7.06 7.01 3.47 5.51 --- 45,000.00 40,000.00 35,000.00 30,000.00 * Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a 25,000.00 12b-1 fee of (0.50%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). The expense 20,000.00 15,000.00 ratio after the waiver is 1.26%. 10,000.00 5,000.00 - Performance Disclosure: Investment results assume all distributions are reinvested and reflect applicable fees and 96 97 98 99 00 01 02 03 04 05 06 expenses. Class R shares were introduced on August 21, 2006; results prior to that date are hypothetical, based on Target Large Capitalization Growth $25,331 Class T share returns at net asset value adjusted for additional distribution and service (12b-1) fees of 0.75% annually. The Portfolio's Distributor has contractually agreed to waive 0.25% annually of the Class R 12b-1 fee through August 31, 2007. Hypothetical Class R share returns would be greater with the waiver. In creating Annual Performance* hypothetical Class R share returns, no adjustments are made for any differences in other expenses of Class R and Fund Index ▼ Class T shares that may or may not impact hypothetical Class R share returns. Please see the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, 2006 7.78% 9.07% dividends and investment results will differ for each share class. 2005 5.95% 5.26% 2004 3.00% 6.30% The performance quoted represents past performance. The investment return and principal value will fluctuate 2003 38.49% 29.75% so that an investor's shares, when redeemed, may be worth more or less than original cost. Past performance 2002 -32.21% -27.88% -30.84% -20.42% does not guarantee future results. Current performance may be lower or higher than the performance data quoted. 2001 -4.09% -22.42% For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website 2000 at www.prudential.com Prospectus Disclosure: Investors should carefully consider a fund's investment objectives, risks, charges and expenses before investing. For more complete information about the investment options available through your account, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Please read the prospectus carefully before investing. ▼ Benchmark Disclosure: Benchmark related performance including the index is unmanaged and it cannot be invested directly. Shares of each fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A021230
  9. 9. Jennison Growth R First Quarter 2007 Fund Fact Sheet Objective/Description Key Facts The investment seeks long-term growth of capital. The fund normally invests at least 65% of assets in equity related INVESTMENT ADVISOR: Prudential Investments LLC securities of medium to large capitalization companies that exceed $1 billion in market capitalization. It may invest in FUND CATEGORY: Large Growth common stocks, nonconvertible securities, ADRs, REITs, warrants and rights that can be exercised to obtain stock. INDEX: Russell 1000 Growth® The fund may invest up to 20% of assets in foreign equity securities. It may also invest in mortgage-backed NET ASSETS: $2.3 Million securities, money market instruments, options and make short sales of a security. There is no assurance that the INCEPTION DATE: 12/17/2004 objectives of the Fund will be met. TICKER SYMBOL: PJGRX SHARE CLASS: Retirement EXPENSE RATIO: 1.54% PORTFOLIO MANAGERS: Spiros Segalas As of 12/31/2006 As of 12/31/2006 Kathleen A. McCarragher Top Ten Holdings Portfolio Allocation Michael A. Del Balso Google, Inc. ................................................................. 4.10% Microsoft Corporation ................................................. 3.52% US Stocks 85.66% American International Group ..................................... 3.25% Investor Risk Profile Cisco Systems, Inc. ..................................................... 3.22% Walt Disney Company ................................................. 3.11% Non-US Stocks 13.3% Adobe Systems Inc. ..................................................... 3.10% Data Not Available Roche Holding AG ADR ............................................... 3.04% Gilead Sciences, Inc. ................................................... 2.81% Cash 1.04% PepsiCo, Inc. ................................................................ 2.71% Apple, Inc. ................................................................... 2.60% As of 3/31/2007 Top Ten Holdings are unaudited and are ranked as a Morningstar Style BoxTM percentage of net assets. Sector Allocation As of 12/31/2006 Portfolio Characteristics As of 12/31/2006 Domestic equity funds are placed in a category based on the style and Healthcare...................... 21.57% Industrial Materials ..6.50% Fund Index ▼ size of the stocks they typically own. The style and size parameters Hardware ....................... 15.70% Media........................4.66% Weighted Geometric Market Cap. $56.80 $33.50 are based on the divisions used in Financial Services .......... 14.36% Business Services .....4.14% Price/Earnings Ratio (Forward) 21.7x 18.08x the investment style box: Value, Software ........................ 10.66% Energy .......................3.51% Price/Book Ratio 3.92x 3.54x Blend, or Growth style and Small, Dividend Yield 0.00% NA Medium, or Large geometric Consumer Services ..........9.27% Telecommunications.1.37% 3-Year Earnings Growth Rate 32.7% 22.62% average market capitalization. Consumer Goods..............8.25% Performance*(%) As of 3/31/2007 Results of $10,000 Investment* Cumulative Returns Average Annual Total Returns Since 35,000.00 QTD YTD 1 Year 3 Year 5 Year 10 Year Inception 30,000.00 Fund 1.12 1.12 1.66 7.79 2.89 6.71 --- 25,000.00 Index ▼ 1.19 1.19 7.06 7.01 3.47 5.51 --- 20,000.00 15,000.00 10,000.00 * Fees that Prudential Retirement and its affiliates receive in connection with investments in this fund include a 5,000.00 12b-1 fee of (0.50%), after waiver, and an annual sub-accounting and/or servicing fee of (0.13%). The expense - ratio after the waiver is 1.29%. 96 97 98 99 00 01 02 03 04 05 06 Jennison Growth A $20,201 Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Annual Performance* The performance quoted represents past performance. The investment return and principal value will fluctuate Fund Index so that an investor's shares, when redeemed, may be worth more or less than original cost. Past performance 2006 1.61% 9.07% does not guarantee future results. Current performance may be lower or higher than the performance data quoted. 2005 13.60% 5.26% For performance information current to the most recent month end, please call 1-800-458-6333 or visit our website 2004 8.32% 6.30% at www.prudential.com 2003 29.24% 29.75% 2002 -31.50% -27.88% Performance Disclosure: Investment results assume all distributions are reinvested and reflect applicable fees and 2001 -18.96% -20.42% expenses. Class R shares were introduced on December 17, 2004; results prior to that date are hypothetical, based 2000 -18.34% -22.42% on Class A share returns at net asset value adjusted for additional distribution and service (12b-1) fees of 0.75% annually. The Portfolio's Distributor has contractually agreed to waive 0.25% annually of the Class R 12b-1 fee through August 31, 2007. Hypothetical waiver. In creating hypothetical Class R share returns, no adjustments are made for any differences in other expenses of Class R and Class A shares that may or may not impact hypothetical Class R share returns. Please see the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class. Prospectus Disclosure: Investors should carefully consider a fund's investment objectives, risks, charges and expenses before investing. For more complete information about the investment options available through your account, please call 1-800-458-6333 for a free prospectus that contains this and other information about our funds. Please read the prospectus carefully before investing. Benchmark Disclosure: Benchmark related performance including the index is unmanaged and it cannot be invested directly. Shares of each fund are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. INST-20070510-A021225

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