0000067590-12-000723.txt : 20121207 0000067590-12-000723.hdr.sgml : 20121207 20121207120709 ACCESSION NUMBER: 0000067590-12-000723 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20121207 DATE AS OF CHANGE: 20121207 EFFECTIVENESS DATE: 20121207 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: 121248927 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 S000004705 TARGET GROWTH ALLOCATION FUND 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 targetgrowth_497.htm

TARGET ASSET ALLOCATION FUNDS

Target Growth Allocation Fund

 

 

Supplement dated December 7, 2012 to the
Prospectus, Summary Prospectus and Statement of Additional Information dated September 28, 2012

 

Proposed Reorganization

 

The Board of Trustees of Target Asset Allocation Funds, on behalf of Target Growth Allocation Fund (“Target Growth Fund”) and the Board of Directors of Prudential Investment Portfolios Inc., 10, on behalf of Prudential Jennison Equity Income Fund (“Equity Income Fund”) recently approved the reorganization of Target Growth Fund into Equity Income Fund. Pursuant to this proposal, the assets and liabilities of Target Growth Fund would be exchanged for shares of Equity Income Fund. The Equity Income Fund shares to be received by Target Growth Fund shareholders in the reorganization will be equal in value, will be of the same class, and will be subject to the same distribution fees, account maintenance fees, and sales charges, including contingent deferred sales charges, if any, as the Target Growth Fund shares held by such shareholders immediately prior to the reorganization.

 

Under the terms of this proposal, Target Growth Fund shareholders would become shareholders of the Equity Income Fund. No sales charges would be imposed in connection with the proposed transaction. Target Asset Allocation Funds, for the benefit of Target Growth Fund, and Prudential Investment Portfolios Inc, 10, for the benefit of Equity Fund, anticipate obtaining an opinion of special tax counsel to the effect that the reorganization transaction will not result in any adverse federal income tax consequences to either Fund, or its respective shareholders.

 

This reorganization transaction is subject to approval by the shareholders of Target Growth Fund. It is anticipated that proxy statements/prospectuses relating to the reorganization transaction will be mailed to Target Growth Fund shareholders in February 2013 and that the special meeting of Target Growth Fund shareholders will be held in mid-April 2013. If the required shareholder approval is obtained and all required closing conditions are satisfied, including receipt of the above-described tax opinion, it is expected that the reorganization transaction will be completed during the second quarter of 2013.


 






LR435