Strategic Partners Mutual Funds Manager Overview

Transcription

1 Strategic Partners Mutual Funds Manager Overview DOMESTIC EQUITY FUNDS VALUE Blend Growth LARGE CAP FUNDS SP Core Value Fund SP Equity Income Fund SP Large Cap Value Fund SP Large Cap Core Fund SP Capital Growth Fund SP Concentrated Growth Fund SP Managed OTC Fund MID-/ MULTI-CAP FUNDS SP Mid-Cap Value Fund (formerly SP Relative Value Fund) 1 SP Mid-Cap Growth Fund SP New Era Growth Fund SMALL CAP FUNDS SP Small Cap Value Fund SP Small Cap Growth Fund (formerly SP Managed Small Cap Growth Fund) INTERNATIONAL EQUITY FUNDS VALUE Blend Growth SP International Value Fund SP International Growth Fund LARGE CAP FUNDS SECTOR FUNDS HYBRID/ASSET ALLOCATION FUNDS FIXED INCOME/MONEY MARKET FUNDS SP Real Estate Fund SP Technology Fund SP Balanced Fund SP Conservative Allocation Fund SP Moderate Allocation Fund SP Growth Allocation Fund SP High Yield Bond Fund SP Total Return Bond Fund SP Money Market Fund 2 MoneyMart Assets 1 Effective November Closed to new investors. For more information about Strategic Partners Mutual Funds, see the prospectus or visit Investors should consider the Funds investment objectives, risks, sales charges, and expenses carefully before investing. The prospectus will contain this and other information about the investment company. Your clients should read the prospectus carefully before investing. From Prudential Financial

2 Asset Allocation Funds Strategic Partners Conservative Allocation Fund (formerly Strategic Partners Conservative Growth Fund) [A, B, C, D, E, F, H] Strategic Partners Moderate Allocation Fund (formerly Strategic Partners Moderate Growth Fund) [A, B, C, D, E, F, H] Strategic Partners Growth Allocation Fund (formerly Strategic Partners High Growth Fund) [A, B, C, D] EARNEST Partners, LLC and its predecessor firms began managing equities in The managers use a proprietary process to find stocks with strong relative values. EARNEST manages the small-/ mid-cap value investments for the Funds. Goldman Sachs Asset Management, a business unit of the Investment Management Division of Goldman, Sachs & Co., seeks to deliver strong, consistent investment results built on its global resources and relationships, thoughtful analysis and research, as well as effective risk management. Hotchkis and Wiley specializes in managing assets for corporate, public endowment, and other institutional clients. The firm focuses on stocks with a history of higher-than-average dividend yields, believing that this and increases in book value lead to superior stock performance. JPMorgan Investment Management Inc. is a wholly owned subsidiary of JPMorgan Chase & Co., a bank holding company founded in Its quantitative model provides an objective screening process driven by internal fundamental research. LSV Asset Management, formed in 1994 as a partnership, is a quantitative value equity manager providing active management for institutional investors. LSV uses a quantitative investment model to choose out-of-favor (undervalued) stocks that have potential for near-term appreciation. Marsico Capital Management was founded in 1997 by Tom Marsico. The team believes that what enables it to transform potential opportunities into investments is a strategic process that blends in-depth research with concentrated fundamentals. Pacific Investment Management Company (PIMCO), which handles core fixed income investments for the Conservative Allocation and Moderate Allocation Funds, was established in It manages assets for clients that include some of the largest U.S. pension funds. RS Investments is a San Francisco-based investment management firm focused on equity investments in small to midsize companies. RS manages the small-/mid-cap growth investments for the Funds. Thornburg Investment Management is an independent, employee-owned investment management firm located in Santa Fe, New Mexico. The firm was founded in 1982, and uses a bottom-up investment approach looking to invest in promising companies selling at a discount to intrinsic value. Vaughan Nelson Investment Management, founded in 1970, is a Houston-based investment management firm and wholly owned subsidiary of IXIS Asset Management North America, L.P. The firm manages fixed income and equity portfolios for investors including foundations, university endowments, public funds, corporate pension funds, and individuals. [A] Common Stocks. [B] Foreign Securities. [C] Small-/Mid-Cap Stocks. [D] Derivative Strategies. [E] Bonds and Fixed Income Securities. [F] High Yield Securities ( junk bonds). [G] Nondiversified Status. [H] High Portfolio Turnover. [I] Initial Public Offerings. See page 7 for risk factors.

3 Large Capitalization Stock Funds Strategic Partners Capital Growth Fund [A, B, D, E, I] Marsico Capital Management was founded in 1997 by Tom Marsico. The team believes that what enables it to transform potential opportunities into investments is a strategic process that blends in-depth research with concentrated fundamentals. Strategic Partners Concentrated Growth Fund [A, B, D, E, G, I] Strategic Partners Core Value Fund [A, D, E] Strategic Partners Equity Income Fund [A, B, D, E] Goldman Sachs Asset Management, a business unit of the Investment Management Division of Goldman, Sachs & Co., seeks to deliver strong, consistent investment results built on its global resources and relationships, thoughtful analysis and research, as well as effective risk management. Alliance Bernstein Investment Research and Management is the retail distribution subsidiary of the subadviser Alliance Capital Management LP. Known for its research expertise in both growth-style and value-style equities, Alliance Bernstein emphasizes a consistent bottom-up research approach that is designed to perform well over long periods of time in all market cycles. Alliance Bernstein Investment Research and Management is the retail distribution subsidiary of the subadviser Alliance Capital Management LP. Known for its research expertise in both growth-style and value-style equities, Alliance Bernstein emphasizes a consistent bottom-up research approach that is designed to perform well over long periods of time in all market cycles. T. Rowe Price, a Baltimore-based asset management firm founded in 1937, is one of the nation s leading providers of mutual funds for individual investors and corporate retirement programs. Strategic Partners Large Cap Core Fund (formerly Strategic Partners Managed Index 500 Fund) [A, D, E] Strategic Partners Large Cap Value Fund [A] Alliance Bernstein Investment Research and Management is the retail distribution subsidiary of the subadviser Alliance Capital Management LP. Known for its research expertise in both growth-style and value-style equities, Alliance Bernstein emphasizes a consistent bottom-up research approach that is designed to perform well over long periods of time in all market cycles. JPMorgan Investment Management Inc. is a wholly owned subsidiary of JPMorgan Chase & Co., a bank holding company founded in Its quantitative model provides an objective screening process driven by internal fundamental research. Hotchkis and Wiley specializes in managing assets for corporate, public endowment, and other institutional clients. The firm focuses on stocks with a history of higher-than-average dividend yields, believing that this and increases in book value lead to superior stock performance. See page 7 for risk factors.

4 Large Capitalization Stock Funds (Continued) Strategic Partners Managed OTC Fund [A, D, G] ProFund Advisors LLC, founded in 1997 and based in Bethesda, Maryland, manages ProFunds, which offers the largest selection of indexed mutual funds. ProFunds pioneered the concept of applying leveraged investment techniques to index funds and managing inverse index funds. These funds are designed to give investors the potential to outperform a specified index. Mid-Capitalization Stock Funds Strategic Partners Mid-Cap Growth Fund [A, B, C, D, E] Goldman Sachs Asset Management, a business unit of the Investment Management Division of Goldman, Sachs & Co., seeks to deliver strong, consistent investment results built on its global resources and relationships, thoughtful analysis and research, as well as effective risk management. Strategic Partners Mid-Cap Value Fund (formerly Strategic Partners Relative Value Fund) [A, B, C, D, E, I] Effective on or about November 2005, the Strategic Partners Mid-Cap Value Fund will merge into the Strategic Partners Relative Value Fund. (Requires shareholder approval). Upon completion, this Fund will change its name to the Strategic Partners Mid-Cap Value Fund. Neuberger Berman has been in the investment business for over 60 years and has worked with one goal: to build and protect the wealth of its clients. Today, as a Lehman Brothers company, Neuberger Berman continues to attract and retain top industry professionals whom it groups into investment teams. Each team pursues its own investment philosophy and style, honed over the years through both bull and bear markets. Strategic Partners New Era Growth Fund [A, B, C, D, E, F, G, H, I] CALAMOS INVESTMENTS is a leading money manager that has specialized in security research and money management since It uses proprietary models and processes, focusing on long-term earnings sustainability and return on capital. Founded in 1971, TCW Investment Management Company (TCW) is a diversified investment management company based in Los Angeles, California. TCW takes a bottom-up, fundamental research-based approach to stock selection. It seeks securities of profitable, growing companies whose business prospects are believed to be improperly estimated by consensus research. [A] Common Stocks. [B] Foreign Securities. [C] Small-/Mid-Cap Stocks. [D] Derivative Strategies. [E] Bonds and Fixed Income Securities. [F] High Yield Securities ( junk bonds). [G] Nondiversified Status. [H] High Portfolio Turnover. [I] Initial Public Offerings. See page 7 for risk factors.

5 Small Capitalization Stock Funds Strategic Partners Small Cap Growth Fund (formerly Strategic Partners Managed Small Cap Growth Fund) [A, B, C, D, E] Deutsche Asset Management was founded in 1870 and is one of the world s largest investment management firms. It provides a wide range of asset management services to corporations, financial institutions, not-for-profit organizations, and public and private pension funds. Deutsche leverages the expertise of more than 400 portfolio managers and analysts in over 60 countries. RS Investments is a San Francisco-based investment management firm focused on equity investments in small to midsize companies. RS manages the small-/mid-cap growth investments for the Funds. Transamerica Investment Management, LLC (TIM), a member of the AEGON Group, is a leading asset management firm serving both retail and institutional clients. Effective August 4, 2005, TIM acquired Westcap Investors, LLC. The company is headquartered in Los Angeles, California. TIM employs a top-down, fundamental approach to investing in a portfolio of small capitalization growth companies. The top-down process is used to identify portfolio themes with strong growth potential, while the bottom-up process focuses on fundamental research. TIM looks for companies with superior managements, strong financials, and superb products/services that demonstrate excellent growth in revenue and earnings. Strategic Partners Small Cap Value Fund [A, C] EARNEST Partners, LLC and its predecessor firms began managing equities in It uses a proprietary process to find stocks with strong relative values and sells those with diminishing relative values. JPMorgan Investment Management Inc. is a wholly owned subsidiary of JPMorgan Chase & Co., a bank holding company founded in Its quantitative model provides an objective screening process driven by internal fundamental research. Lee Munder Capital Group was founded in 2000 and is based in Boston, Massachusetts. The Small Cap Value investment team utilizes a classic value investment style, focusing on solid companies whose stock is temporarily out of favor in the market. The strategy focuses on companies with higher returns on capital, free cash flow, and strong balance sheets. NFJ Investment Group, based in Dallas, Texas, was founded in 1989 and is a wholly owned subsidiary of Allianz Dresdner Asset Manager of America L.P. The firm adheres to a disciplined, value-oriented philosophy and investment process implemented by an experienced management team. Vaughan Nelson Investment Management, founded in 1970, is a Houston-based investment management firm and wholly owned subsidiary of IXIS Asset Management North America, L.P. The firm manages fixed income and equity portfolios for investors including foundations, university endowments, public funds, corporate pension funds, and individuals. See page 7 for risk factors.

6 Sector Stock Funds Strategic Partners Real Estate Fund (formerly Strategic Partners Real Estate Securities Fund) [A, B, G] Effective on or about October 2005, this Fund will change its name to Strategic Partners Real Estate Fund. Principal Global Investors, located in Des Moines, Iowa, is a diversified asset management organization and a wholly owned subsidiary of the 125-year-old investment firm Principal Financial Group. Its investment capabilities encompass an extensive range of equity, fixed income and real estate investments, as well as specialized overlay and advisory services. Founded in 1928, Wellington Management is one of the largest independent investment management companies in the world. Wellington has a long history of specializing in sector fund management and real estate investment trusts. Strategic Partners Technology Fund [A, D, E, H] The Dreyfus Corporation, established in 1951, became a wholly owned subsidiary of Mellon Financial Corp. after its merger in Through Mellon s asset management companies, the firm is able to offer a wide array of investment products in virtually every asset class and investment style from equity to fixed income, micro-cap to large-cap, growth to value, and domestic to international. Global/International Stock Funds Strategic Partners International Growth Fund [A, B, D, E, I] Strategic Partners International Value Fund [A, B, D, E] William Blair & Company, a Chicago-based firm, was founded in 1935 and is known for its proprietary, in-depth research. It has offices in Chicago, Hartford, San Francisco, London, Tokyo, Vaduz, and Zurich. The firm s investment philosophy defines quality growth companies as those that demonstrate consistent and high rates of growth, superior profitability, conservative finances, and ongoing management excellence. LSV Asset Management, formed in 1994 as a partnership, is a quantitative value equity manager providing active management for institutional investors. LSV uses a quantitative investment model to choose out-of-favor (undervalued) stocks that have potential for near-term appreciation. Thornburg Investment Management is an independent, employee-owned investment management firm located in Santa Fe, New Mexico. The firm was founded in 1982, and uses a bottom-up investment approach looking to invest in promising companies selling at a discount to intrinsic value. [A] Common Stocks. [B] Foreign Securities. [C] Small-/Mid-Cap Stocks. [D] Derivative Strategies. [E] Bonds and Fixed Income Securities. [F] High Yield Securities ( junk bonds). [G] Nondiversified Status. [H] High Portfolio Turnover. [I] Initial Public Offerings. See page 7 for risk factors.

7 Balanced Funds Strategic Partners Balanced Fund [A, B, D, E] Established in 1962, American Century Investments is a full-service investment management firm that is a leader in both growth and value equity and balanced management styles. It has over 300 equity research analysts worldwide. Taxable Bond Funds Strategic Partners High Yield Bond Fund [A, B, D, E, F] Goldman Sachs Asset Management, a business unit of the Investment Management Division of Goldman, Sachs & Co., seeks to deliver strong, consistent investment results built on its global resources and relationships, thoughtful analysis and research, as well as effective risk management. Strategic Partners Total Return Bond Fund [B, D, E, F, H] Pacific Investment Management Company (PIMCO), established in 1971, manages fixed income investments for clients that include many of the largest U.S. pension funds. PIMCO is known as the fixed income specialist that pioneered the total return approach to investing. The firm uses a conservative investment philosophy with a long-term orientation. Risk Factors [A] Common Stocks. Common stocks can lose value. Stock markets and individual stocks are subject to price fluctuation, which may be volatile. [B] Foreign Securities. Foreign markets, economies, or political systems may not be as stable as those of the United States. These securities are also subject to currency fluctuation, which can affect the performance and value of the portfolio. [C] Small-/Mid-Cap Stocks. Stocks of small or midsize companies tend to be more volatile, and may decline more than those of larger companies. [D] Derivative Strategies. Uses derivative strategies, such as futures, options, and foreign currency forward contracts, to try to improve returns or protect its assets. These strategies may not have the intended effect, and may magnify losses or result in missed opportunities. [E] [F] Bonds and Fixed Income Securities. Subject to market risk, credit risk, interest-rate risk, and/or prepayment risk. These risks can result in losses. High Yield Securities (junk bonds). Subject to higher risks associated with lower-rated, higher-yielding debt securities, including a greater risk of default and potential liquidation. [G] Nondiversified Status. May be more prone to market shifts than a more broadly diversified portfolio because of its exposure to a smaller number of companies. [H] High Portfolio Turnover. Results in higher brokerage commissions and other transaction costs, which may negatively affect the portfolio s performance. [I] Initial Public Offerings. May participate in initial public offerings (IPOs) to seek to increase the portfolio s performance. As the portfolio s assets grow, the impact of IPO investments on returns will likely decline.

8 Shares of Strategic Partners Mutual Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Strategic Partners is a service mark of The Prudential Insurance Company of America. IFS-A NS01869 Ed. 10/01/2005