Amendment to Subadvisory Agreements
Amendment to Subadvisory Agreements
AST Investment Services, Inc. and Prudential Investments LLC and Xxxxxxxxx Xxxxxx Management LLC (“Subadviser”) hereby agree to amend the subadvisory agreements (including any amendments or supplements) listed below (collectively, the “Agreement”) by amending Schedule A to such Agreement (“Schedule A”). Schedule A addresses the level of subadvisory fees paid by the Manager to Subadviser under the Agreement. Schedule A is hereby replaced in its entirety with the attached Amended Schedule A, effective as of April 1, 2014.
The Agreement affected by this Amendment consists of the following:
- Subadvisory Agreement, dated as of May 4, 2009, by and among AST Investment Services, Inc., Prudential Investments LLC, and Subadviser pursuant to which Subadviser has been retained to provide investment advisory services to the AST Xxxxxxxxx Xxxxxx/LSV Mid-Cap Value Portfolio of Advanced Series Trust.
- Subadvisory Agreement, dated as of May 4, 2009, by and among AST Investment Services, Inc., Prudential Investments LLC, and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust.
- Subadvisory Agreement, dated as of June 7, 2013, by and among AST Investment Services, Inc., Prudential Investments LLC, and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the AST International Growth Portfolio of Advanced Series Trust.
AST Investment Services, Inc. and/or Prudential Investments LLC and Subadviser further agree that each Amended Schedule A supersedes any other fee arrangements, written or oral, that may be applicable to the Agreements listed above.
IN WITNESS HEREOF, AST Investment Services, Inc, Prudential Investments LLC, and Xxxxxxxxx Xxxxxx Management, LLC have duly executed this Amendment as of the date and year first written above.
PRUDENTIAL INVESTMENTS LLC
By:_/s/ Xxxxxxx X. Cronin________
Name:__Timothy S. Cronin_______
Title:__Senior Vice President______
AST Investment Services, Inc.
By:_/s/ Xxxxxxx X. Cronin________
Name:__Timothy S. Cronin_______
Title:__Senior Vice President______
xxxxxxxxx xxxxxx management, LLC
By:____/s/ Xxxxxx Conti____________
Name:__Robert Conti______________
Title:___President_________________
Effective Date: April 1, 2014
AMENDED SCHEDULE A FOR Subadvisory Agreement
AST Xxxxxxxxx Xxxxxx / LSV Mid-Cap Value Portfolio
As compensation for services provided by Xxxxxxxxx Xxxxxx Management LLC (Xxxxxxxxx Xxxxxx) AST Investment Services, Inc. (ASTISI) and Prudential Investments LLC (PI) will pay Xxxxxxxxx Xxxxxx an advisory fee on the net assets managed by Xxxxxxxxx Xxxxxx that is equal, on an annualized basis, to the following:
| Portfolio | Subadvisory Fee Rate* |
| AST Xxxxxxxxx Xxxxxx / LSV Mid-Cap Value Portfolio | 0.40% of average daily net assets to $1 billion; and
0.35% of average daily net assets over $1 billion |
Effective Date: April 1, 2014
*Xxxxxxxxx Xxxxxx has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fees for the AST Xxxxxxxxx Xxxxxx / LSV Mid-Cap Value Portfolio of Advanced Series Trust 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, the AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust, the AST International Growth Portfolio of Advanced Series Trust, and the PSF SP International Growth Portfolio of Prudential Series Fund:
Combined Asset Levels Percentage Fee Waiver
Assets up to $750 million No Fee Reduction
Assets between $750 million and $1.5 billion 5.0% Fee Reduction
Assets between $1.5 billion and $3.0 billion 7.5% Fee Reduction
Assets above $3.0 billion 10.0% Fee Reduction
AMENDED SCHEDULE A FOR Subadvisory Agreement
AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio
As compensation for services provided by Xxxxxxxxx Xxxxxx Management LLC (Xxxxxxxxx Xxxxxx), AST Investment Services, Inc. (ASTISI) and Prudential Investments LLC (PI) will pay Xxxxxxxxx Xxxxxx an advisory fee on the net assets managed by Xxxxxxxxx Xxxxxx that is equal, on an annualized basis, to the following:
| Portfolio | Subadvisory Fee Rate* |
| AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio | 0.40% of average daily net assets to $100 million; and
0.35% of average daily net assets exceeding $100 million |
Effective Date: April 1, 2014
*Xxxxxxxxx Xxxxxx has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fees for the AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust by the following percentages based on the combined average daily net assets of the following portfolios: the AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust, the AST Xxxxxxxxx Xxxxxx / LSV Mid-Cap Value Portfolio of Advanced Series Trust, the AST International Growth Portfolio of Advanced Series Trust and the PSF SP International Growth Portfolio of Prudential Series Fund:
Combined Asset Levels Percentage Fee Waiver
Assets up to $750 million No Fee Reduction
Assets between $750 million and $1.5 billion 5.0% Fee Reduction
Assets between $1.5 billion and $3.0 billion 7.5% Fee Reduction
Assets above $3.0 billion 10.0% Fee Reduction
AMENDED SCHEDULE A FOR Subadvisory Agreement
Advanced Series Trust
AST International Growth Portfolio
As compensation for services provided by Xxxxxxxxx Xxxxxx Management LLC (Xxxxxxxxx Xxxxxx), AST Investment Services, Inc. (ASTISI) and Prudential Investments LLC (PI) will pay Xxxxxxxxx Xxxxxx an advisory fee on the net assets managed by Xxxxxxxxx Xxxxxx that is equal, on an annualized basis, to the following:
| Portfolio | Subadvisory Fee Rate* |
| AST International Growth Portfolio | 0.375% of average daily net assets to $500 million; 0.325% of average daily net assets over $500 million to $1.5 billion; and 0.300% of average daily net assets over $1.5 billion |
Effective Date: April 1, 2014
*Xxxxxxxxx Xxxxxx has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fees for the AST International Growth Portfolio of Advanced Series Trust by the following percentages based on the combined average daily net assets of the following portfolios: the AST International Growth Portfolio of Advanced Series Trust, the AST Xxxxxxxxx Xxxxxx / LSV Mid-Cap Value Portfolio of Advanced Series Trust, the AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust, and the PSF SP International Growth Portfolio of Prudential Series Fund:
Combined Asset Levels Percentage Fee Waiver
Assets up to $750 million No Fee Reduction
Assets between $750 million and $1.5 billion 5.0% Fee Reduction
Assets between $1.5 billion and $3.0 billion 7.5% Fee Reduction
Assets above $3.0 billion 10.0% Fee Reduction
