-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PJAbLqjH0LCbmAV2INhvDyBFg62Zak1nFEb5MAMEmdHPZGAKml38aCJHZ/noZu9x WnMv+ZusO+72Epcqd4IxOQ== 0000067590-08-000450.txt : 20081119 0000067590-08-000450.hdr.sgml : 20081119 20081119172605 ACCESSION NUMBER: 0000067590-08-000450 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081119 DATE AS OF CHANGE: 20081119 EFFECTIVENESS DATE: 20081119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGET ASSET ALLOCATION FUNDS CENTRAL INDEX KEY: 0001067442 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-60561 FILM NUMBER: 081201852 BUSINESS ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: GATEWAY CENTER THREE, 4TH FLOOR STREET 2: 100 MULBERRY STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS ASSET ALLOCATION FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL DIVERSIFIED FUNDS DATE OF NAME CHANGE: 19980930 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL DIVERSIFIED SERIES DATE OF NAME CHANGE: 19980803 0001067442 S000004703 TARGET CONSERVATIVE ALLOCATION FUND C000012790 Class M C000012791 Class X C000012792 Class R PCLRX C000012793 Class A PCGAX C000012794 Class B PBCFX C000012795 Class C PCCFX C000012796 Class Z PDCZX 0001067442 S000004704 TARGET MODERATE ALLOCATION FUND C000012797 Class M C000012798 Class X C000012799 Class R SPMRX C000012800 Class A PAMGX C000012801 Class B DMGBX C000012802 Class C PIMGX C000012803 Class Z PDMZX 0001067442 S000004705 TARGET GROWTH ALLOCATION FUND C000012804 Class M C000012805 Class X C000012806 Class R PGARX C000012807 Class A PHGAX C000012808 Class B PIHGX C000012809 Class C PHGCX C000012810 Class Z PDHZX 497 1 taasuppone112008.htm 497

TARGET ASSET ALLOCATION FUNDS

Target Conservative Allocation Fund (Conservative Allocation Fund)

Target Moderate Allocation Fund (Moderate Allocation Fund)

Supplement dated November 19, 2008

to the Prospectus dated October 1, 2008

 

On November 7, 2008, the Board of Trustees of Target Asset Allocation Funds approved revisions to certain non-fundamental investment policies for Conservative Allocation Fund and Moderate Allocation Fund (the Funds). The Board approved revisions that would allow the Funds to increase its permissible emerging markets exposure. The change was proposed by the sub-adviser to these portfolios, Pacific Investment Management Company LLC (PIMCO) and is intended to add investment flexibility and provide consistency across the PI portfolios sub-advised by PIMCO. The following table indicates the current and revised investment policies:

Fund

Current Policy

Proposed Policy

Conservative Allocation Fund

Moderate Allocation Fund

 

“The Fund may invest up to 30% of its total assets in non-U.S. dollar denominated foreign debt obligations, including up to 10% of its total assets in debt obligations of issuers in emerging markets.”

 

“The Fund may invest up to 30% of its total assets in non-U.S. dollar denominated foreign debt obligations, and up to 15% of its total assets in securities and instruments that are economically tied to emerging countries.”

 

To reflect the changes described above, the following changes are hereby made to the Funds’ prospectus and SAI as follows:

1.         Paragraph six of the section in the Prospectus under the caption "Risk Return Summary – Investment Objectives and Principal Strategies – How are the Funds Managed? – Conservative Allocation Fund" is deleted and replaced with the following:

The Fund may invest up to 30% of its total assets in non-U.S. dollar denominated foreign debt obligations, and up to 15% of its total assets in securities and instruments that are economically tied to emerging countries. Foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) normally will be limited to 20% of the Fund’s total assets.

 

2.         Paragraph seven of the section in the Prospectus under the caption "Risk Return Summary – Investment Objectives and Principal Strategies – How are the Funds Managed? – Moderate Allocation Fund" is deleted and replaced with the following:

The Fund may invest up to 30% of its total assets in non-U.S. dollar denominated foreign debt obligations, and up to 15% of its total assets in securities and instruments that are economically tied to emerging countries. Foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) normally will be limited to 20% of the Fund’s total assets.

 

3.         Paragraph three of the section in the Prospectus under the caption "How the Funds Invest – Investment Objectives and Policies – Fixed Income Segments" is deleted and replaced with the following:

The Conservative Allocation Fund and Moderate Allocation Fund may each invest up to 30% of its total assets in non-U.S. dollar denominated foreign debt obligations, and up to 15% of its total assets in securities and instruments that are economically tied to emerging countries, including (but not limited to) Brady Bonds. In the fixed income segments, foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) normally will be limited to 20% of the Fund’s total assets.

 

4.         The principal and non-principal strategies table for Conservative Allocation Fund and Moderate Allocation Fund at the end of the section in the Prospectus under the caption "How the Funds Invest – Investment Risks" are amended as follows:

 

•

Foreign Debt Securities (up to 30%, no more than 15% in securities and instruments that are economically tied to emerging countries.)

 

LR00249

 

 

 

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