UNDERLYING PORTFOLIO ANNUAL EXPENSES | |||||||||
(as a percentage of the average daily net assets of the underlying Portfolios) | |||||||||
FUNDS | Management Fees | Other Expenses | Distribution (12b-1) Fees | Dividend Expense on Short Sales | Broker Fees and Expenses on Short Sales | Acquired Portfolio Fees & Expenses | Total Annual Portfolio Operating Expenses | Fee Waiver or Expense Reimbursement | Net Annual Fund Operating Expenses |
AST AllianzGI World Trends Portfolio* | 0.75% | 0.02% | 0.25% | 0.00% | 0.00% | 0.00% | 1.02% | 0.05% | 0.97% |
AST Goldman Sachs Multi-Asset Portfolio* | 0.76% | 0.05% | 0.25% | 0.00% | 0.00% | 0.02% | 1.08% | 0.17% | 0.91% |
AST Mid-Cap Growth Portfolio* | 0.81% | 0.02% | 0.25% | 0.00% | 0.00% | 0.00% | 1.08% | 0.03% | 1.05% |
AST Western Asset Emerging Markets Debt Portfolio* | 0.68% | 0.17% | 0.25% | 0.00% | 0.00% | 0.00% | 1.10% | 0.03% | 1.07% |
AST AllianzGI World Trends Portfolio The Manager has contractually agreed to waive 0.029% of its investment management fee through June 30, 2021. In addition, the Manager has contractually agreed to waive 0.018% of its investment management fee through June 30, 2021. These arrangements may not be terminated or modified without the prior approval of the Trust’s Board of Trustees. |
AST Goldman Sachs Multi-Asset Portfolio The Manager has contractually agreed to waive 0.132% of its investment management fee through June 30, 2021. The Manager has also contractually agreed to waive a portion of its investment management fee equal to the management fee of any acquired fund managed or subadvised by Goldman Sachs Asset Management, L.P. In addition, the Manager has contractually agreed to waive a portion of its investment management fee and/or reimburse certain expenses of the Portfolio so that the Portfolio’s investment management fee plus other expenses (exclusive of certain expenses as described more fully in the Trust’s Statement of Additional Information) do not exceed 0.910% of the Portfolio’s average daily net assets through June 30, 2021. Expenses waived/reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver/reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. These arrangements may not be terminated or modified without the prior approval of the Trust’s Board of Trustees. |
AST Mid-Cap Growth Portfolio The Manager has contractually agreed to waive 0.0047% of its investment management fee through June 30, 2021. In addition, the Manager has contractually agreed to waive a portion of its investment management fee and/or reimburse certain expenses of the Portfolio so that the Portfolio’s investment management fee plus other expenses (exclusive of certain expenses as described more fully in the Trust’s Statement of Additional Information) do not exceed 1.05% of the Portfolio’s average daily net assets through June 30, 2021. Expenses waived/reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver/reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. These arrangements may not be terminated or modified without the prior approval of the Trust’s Board of Trustees. |
AST Western Asset Emerging Markets Debt Portfolio The Manager has contractually agreed to waive a portion of its investment management fee and/or reimburse certain expenses of the Portfolio so that the Portfolio’s investment management fee plus other expenses (exclusive of certain expenses as described more fully in the Trust’s Statement of Additional Information) do not exceed 1.07% of the Portfolio’s average daily net assets through June 30, 2021. Expenses waived/reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver/reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. This arrangement may not be terminated or modified without the prior approval of the Trust’s Board of Trustees. |
Target Portfolio | Acquiring Portfolio |
AST AQR Large-Cap Portfolio | AST Large-Cap Core Portfolio |
AST AQR Emerging Markets Portfolio | AST Emerging Markets Equity Portfolio |
PORTFOLIO NAME | INVESTMENT OBJECTIVE(S) | PORTFOLIO ADVISER/SUBADVISER(S) |
AST Emerging Markets Equity Portfolio | Seeks long-term capital appreciation. | AQR Capital Management, LLC J.P. Morgan Investment Management, Inc. Martin Currie Inc. |
AST Large-Cap Core Portfolio | Seeks long-term capital appreciation. | QMA LLC J.P. Morgan Investment Management, Inc. Massachusetts Financial Services Company |
3 | Effective May 1, 2020, this investment option is no longer available for new investments. |