Amendment to Subadvisory Agreement for AST INTERNATIONAL GROWTH PORTFOLIO OF
Execution Version
Amendment to Subadvisory Agreement
for AST INTERNATIONAL GROWTH PORTFOLIO OF
AST Investment Services, Inc., PGIM Investments LLC (formerly, Prudential Investments LLC) (collectively, the “Manager”) and Xxxxxxxxx Xxxxxx Investment Advisers LLC (formerly, Xxxxxxxxx Xxxxxx Management LLC ) (the “Subadviser”) hereby agree to amend the Subadvisory Agreement, dated as of June 7, 2013, as amended April 1, 2014, by and among the Manager and the Subadviser, pursuant to which the Subadviser has been retained to provide investment advisory services to the AST International Growth Portfolio, as follows;
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1. |
Schedule A is hereby deleted and replaced with the attached Schedule A. |
IN WITNESS HEREOF, AST Investment Services, Inc., PGIM Investments LLC, and Xxxxxxxxx Xxxxxx Investment Advisers LLC have duly executed this Amendment as of the effective date of this Amendment.
AST Investment Services, Inc.
By: /s/ Xxxxxxx Xxxxxx
Name: Xxxxxxx Xxxxxx
Title: President
PGIM INVESTMENTS LLC
By: /s/ Xxxxxxx Xxxxxx
Name: Xxxxxxx Xxxxxx
Title: Senior Vice President
XXXXXXXXX XXXXXX INVESTMENT ADVISERS LLC
By: /s/ Xxxxx Xxxxxxx
Name: Xxxxx Xxxxxxx
Title: Managing Director
Effective Date as Revised: January 1, 2019
SCHEDULE A
AST International Growth Portfolio
As compensation for services provided by Xxxxxxxxx Xxxxxx Investment Advisers LLC (“NBIA”), AST Investment Services, Inc. and PGIM Investments LLC, as applicable, will pay NBIA an advisory fee on the net assets managed by NBIA* that is equal, on an annualized basis, to the following:
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Portfolio |
Subadvisory Fee** |
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AST International Growth Portfolio* |
0.350% of average daily net assets to $500 million; |
*NBIA has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fee for the Portfolio by the following percentages based on the combined average daily net assets of the following portfolios: AST Xxxxxxxxx Xxxxxx/LSV Mid-Cap Value Portfolio of Advanced Series Trust, and the sleeves of the AST International Growth Portfolio of Advanced Series Trust and the SP International Growth Portfolio of The Prudential Series Fund.
—Combined assets up to $750 million: No fee reduction.
—Combined assets between $750 million and $1.5 billion: 5% reduction to effective subadvisory fee.
—Combined assets between $1.5 billion and $3 billion: 7.5% reduction to effective subadvisory fee.
—Combined assets above $3 billion: 10% reduction to effective subadvisory fee.
**In the event NBIA invests Portfolio assets in other pooled investment vehicles it manages or subadvises, NBIA will waive its subadvisory fee for the Portfolio in an amount equal to the acquired fund fee paid to NBIA with respect to the Portfolio assets invested in such acquired fund. Notwithstanding the foregoing, the subadvisory fee waivers will not exceed 100% of the subadvisory fee.
Effective Date as Revised: January 1, 2019
