EX-99.77D POLICIES 5 spaa77d1.txt Strategic Partners Asset Allocation Funds For the period ended 01/31/04 File number 811-08915 SUB-ITEM 77D Policies With Respect to Security Investment JENNISON DRYDEN FUNDS STRATEGIC PARTNERS FUNDS Supplement dated January 14, 2004 _________________________________________________________________________ The following amends the section of each Prospectus entitled "How the Fund is Managed - Portfolio Manager" or "How the Trust is Managed - Advisers and Portfolio Managers": Effective as of January 13, 2004, Tom Kolefas has been replaced as a portfolio manager. David A. Kiefer is the portfolio manager of the value portion of the Jennison 20/20 Focus Fund. Mr. Kiefer joins Avi Z. Berg as a portfolio manager of the Jennison Value Fund and the value portions of the Strategic Partners Asset Allocation Funds listed below. David A. Kiefer, CFA, is a Senior Vice President of Jennison, which he joined in September 2000. He joined Prudential's management training program in 1986. From 1988 to 1990, Mr. Kiefer worked at Prudential Power Funding Associates, making loans to the energy industry. He then left to attend business school, rejoining Prudential in equity asset management in 1992. Mr. Kiefer became a portfolio manager in 1994 at Prudential. Mr. Kiefer earned a B.S. from Princeton University and an M.B.A. from Harvard Business School. Avi Z. Berg is a Vice President of Jennison, which he joined in January 2001. Prior to joining Jennison, he was with Goldman Sachs Asset Management from 1997 to 2000 as an Equity Research Associate for their small and mid cap value funds. From 1995 to 1997, Mr. Berg worked in equity research at Schroder Wertheim & Co. and Fir Tree Partners. From 1991 to 1995, he was a consultant with Price Waterhouse LLP. Mr. Berg received his A.B. in Economics magna cum laude from Harvard University in 1991 and his M.B.A. in Finance and Accounting with honors and distinctions from Columbia Business School in 1997. Listed below are the names of the Jennison Dryden and Strategic Partners Funds and the dates of the Prospectuses to which this Supplement relates. Name of Fund Prospectus Date Jennison 20/20 Focus Fund March 31, 2003 Strategic Partners Asset Allocation Funds October 2, 2003 Strategic Partners Conservative Growth Fund Strategic Partners Moderate Growth Fund Strategic Partners High Growth Fund Jennison Value Fund December 30, 2002