Strategic Partners Asset Allocation Funds
For the fiscal year ended 7/31/02
File number 811-08915

SUB-ITEM 77D
Policies With Respect to Security Investment
Strategic Partners Asset Allocation Funds
Strategic Partners Conservative Growth Fund
Strategic Partners Moderate Growth Fund
Supplement dated March 25, 2002
to the prospectus and statement of additional information
dated October 1, 2001.
Effective May 1, 2002, for hedging purposes only, each Fund
listed above may invest in futures contracts on 10-year interest rate
swaps (Swap Futures).  Pursuant to its general authority to invest in
certain derivatives, each such Fund currently may invest up to 5% of its
total assets in aggregate initial margin payments on all futures contracts,
including Swap Futures.  Swap Futures are described below.
The information in this supplement supersedes any contrary
information that may be contained either in the Funds' prospectus or
statement of additional information (SAI).
1.	On page 26 of the prospectus, the following is added to the
section entitled "How the Funds Invest  Other Investments
and Strategies  Derivative Strategies  Futures Contracts
and Related Options."
Each of the Strategic Partners Conservative Growth and
Moderate Growth Funds may also invest in futures contracts on 10-
year interest rate swaps to hedge the Fund's assets, that is, to protect
the Fund's assets from a decline in value.
2.	On page B-25 of the SAI, the following is added to the section
entitled "Description of the Funds, Their Investments and Risks
 Risk Management and Return Enhancement Strategies
Futures Contracts."
Futures contracts on 10-year interest rate swaps (Swap
Futures), introduced by the Chicago Board of Trade in October
2001, are a vehicle for hedging credit and interest rate exposure,
referenced to long-dated LIBOR.  Swap Futures cash settle at
expiration at a price based on the International Swaps and
Derivatives Association Benchmark Rate for a 10-year U.S. dollar
interest rate swap on the last day of trading, as published on the
following business day by the Federal Reserve Board in its Daily
Update to the H.15 Statistical Release.  Swap Futures attempt to
replicate the pricing of interest rate swaps.
The $100,000 par value trading unit of a Swap Futures
contract represents the fixed-rate side of a 10-year interest rate swap
with a $100,000 notional value that exchanges semiannual fixed-
rate payments at a 6% annual rate for floating-rate payments based
on 3-month LIBOR.  Swap Futures trade in price terms quoted in
points ($1,000) and 32nds of a point ($31.25) of the $100,000
notional par value.  The contract settlement-date cycle is March,
June, September and December, which is comparable to other
fixed-income futures contracts.
Because Swap Futures are traded on an exchange and
cleared though the AAA-rated Chicago Board of Trade Clearing
Corporation, there is minimal counterparty or default risk, although,
as with all futures contracts, the Fund could experience delays
and/or losses associated with the bankruptcy of a broker through
which the Fund engages in futures transactions or the failure of the
Chicago Board of Trade Clearing Corporation.  Investing in Swap
Futures is subject to the same risks of investing in other futures
contracts on financial instruments, which are described above.

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