0000067590-13-000150.txt : 20130312 0000067590-13-000150.hdr.sgml : 20130312 20130312152736 ACCESSION NUMBER: 0000067590-13-000150 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130312 DATE AS OF CHANGE: 20130312 EFFECTIVENESS DATE: 20130312 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: 13683898 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 growth_497.htm

TARGET ASSET ALLOCATION FUNDS
Target Growth Allocation Fund

Supplement dated March 12, 2013 to the
Summary Prospectus, Prospectus and Statement of Additional Information
each dated September 28, 2012

Marsico Capital Management, LLC (“Marsico”) is currently one of the subadvisers to the Target Growth Allocation Fund (the “Fund”), a series of Target Asset Allocation Funds (the “Trust”). The Fund’s other subadvisers are Eagle Asset Management, Inc., EARNEST Partners, LLC, Epoch Investment Partners, Inc, Hotchkis and Wiley Capital Management, LLC, LSV Asset Management, Massachusetts Financial Services Company (“MFS”), NFJ Investment Group LLC, Thornburg Investment Management, Inc. and Vaughan Nelson Investment Management, L.P. Marsico is one of the two subadvisers to the portion of the Fund’s assets that is allocated to equities (asset class) and growth-oriented, focusing on large-cap stocks (primary investment type/style).

Shareholders of the Fund as of January 22, 2013 (the “Record Date”) have been asked to vote at a special meeting to be held on April 19, 2013, or at any adjournment thereof, on a proposal to reorganize the Fund into Prudential Jennison Equity Income Fund (“Equity Fund”), a series of Prudential Investment Portfolios, Inc. 10 (the “Reorganization”). If the Reorganization is approved, Fund shareholders will become shareholders of the Equity Fund. If the Reorganization is not approved, then the Fund will continue to operate in accordance with its current investment objective and strategy.

At the March 7, 2013 meeting of the Board of Trustees of the Trust, it was determined that if shareholders do not approve the proposed Reorganization, Marsico will no longer serve as a subadviser for the Fund effective as of a date to be determined, which is expected to occur during the second quarter of 2013 (the “transition date”). Under such circumstances, MFS is expected to manage all of the Fund’s assets that are allocated to equities (asset class) and growth-oriented, focusing on large-cap stocks (primary investment type/style). Allocation of assets between or among subadvisers is subject to change in the sole discretion of the Manager.

All references in the Trust’s Prospectus, Summary Prospectus and SAI to Marsico will be deleted as of the transition date, if the proposed Reorganization is not approved and implemented, unless such disclosure is otherwise required.

LR463