AST Academic Strategies Asset Allocation Portfolio

C000018400 Fund Overview

AST Academic Strategies Asset Allocation Portfolio is a US mutual fund managed by Advanced Series Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Advanced Series Trust
• Category: United States Large Cap Blend / Core Equity
• Assets under management: $2.24B
• 1-year return: 14.6%
• SEC CIK: 0000814679
• SEC series ID: S000006792
• Share class ID: C000018400

C000018400 Investment Objective and Strategy

AST Academic Strategies Asset Allocation Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advanced Series Trust.

Investment objective

The investment objective of the Portfolio is to seek long-term capital appreciation.

Principal investment strategy

The Portfolio invests in both traditional and non-traditional investment strategies. The Portfolios asset allocation generally provides for an allotment of approximately 40% of Portfolio assets to a combination of domestic and international equity strategies, an allotment of approximately 20% of Portfolio assets to a combination of US fixed income, hedged international bond, and real return strategies, and an allotment of approximately 40% allocation to non-traditional strategies, including, but not limited to, real estate, commodities-related, Treasury Inflation-Protected Securities (TIPS), global macro, tactical currency and other liquid alternative strategies. The Portfolio's assets are allocated to traditional asset classes and investment strategies, and approximately 40% of the Portfolio's assets are allocated to non-traditional asset classes and investment strategies.

The traditional asset classes include US and foreign equity and fixed income securities. The non-traditional asset classes include real estate, commodities-related, and may from time to time include long/short market neutral, global macro, hedge fund replication, and global tactical asset allocation strategies. The Portfolio gains exposure to these traditional and non-traditional asset classes and investment strategies by investing in varying combinations of: (i) other pooled investment vehicles, including, other portfolios of the Trust, other open-end or closed-end investment companies, ETFs, unit investment trusts, and domestic or foreign private investment pools (collectively referred to as underlying portfolios); (ii) securities such as common stocks, preferred stocks, bonds, bond and interest rate futures, options on bonds, options on bond and interest rate futures, interest rate options, interest rate swaps, credit default swaps (on individual securities and/or baskets of securities), commodity and commodity index futures, options (including options on credit default swaps), other futures, swaps and options (including on equities and equity indices), forwards, options on swaps, options on forwards and mortgage-backed securities; and (iii) certain financial and derivative instruments.

Strategic Portfolio asset allocations are based on: (i) forward-looking assessments of global macroeconomic, market, financial, currency, security valuation, and other factors; and (ii) quantitative and qualitative evaluations of the risks associated with investments in the relevant investment categories and strategies. In addition to the Portfolio's investment in those underlying portfolios, the Portfolio may also invest its assets in the AST PGIM Fixed Income Central Portfolio (the PGIM Central Portfolio). The PGIM Central Portfolio is a special type of investment vehicle for sole use by certain asset allocation portfolios, including the Portfolio. The PGIM Central Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in investment grade bonds.

Rather than buy bonds directly, the Portfolio may invest in the PGIM Central Portfolio. The Portfolio may invest without limit in the PGIM Central Portfolio. The remainder of the Portfolio's assets will be managed directly by subadvisers to the Portfolio. Those percentages and allocations are subject to change by the Manager and PGIM Quantitative Solutions. Included in the directly managed portion is an overlay strategy for liquidity and asset allocation purposes. The Portfolio allocates approximately 15-25% of its net assets to the overlay strategy, which is employed through an overlay sleeve. The overlay strategy seeks to allow for the efficient management of Portfolio-level risk and changes in the Portfolios asset levels, liquidity, and asset allocations. The overlay strategy is also used to access and adjust exposures to various asset classes and underlying strategy allocations.

The overlay strategy is invested primarily in (i) derivative instruments including, but not limited to, swaps, forwards, index futures, other futures contracts, and options thereon to provide liquid exposure to the applicable equity, fixed income, real estate and commodity benchmark indices; and (ii) cash, money market equivalents, short-term debt instruments, money market funds, and short-term debt funds to satisfy all applicable margin requirements for the futures contracts and to provide additional portfolio liquidity to satisfy large-scale redemptions. The overlay strategy may also invest in ETFs for additional exposure to relevant markets. The overlay strategy may temporarily deviate from the allocation indicated due to redemptions in the Portfolio or other circumstances relevant to the Portfolios overall investment process.

C000018400 Holdings

Top 10 holdings of AST Academic Strategies Asset Allocation Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000018400 holdings

C000018400 Portfolio Allocation

Asset-class allocation of AST Academic Strategies Asset Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.

C000018400 Performance

Total returns for C000018400 (as of 2026-10-01), from SEC filings.

C000018400 Risk Information

Risk metrics for C000018400, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 6.8%

C000018400 Costs and Fees

C000018400 costs about $113 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.13%
• Gross expense ratio: 1.18%
• Portfolio turnover: 77%
• Brokerage commissions: 2.26 bps of average net assets (SEC N-CEN)

C000018400 Cashflows

Over the 12 months to 2026-06, AST Academic Strategies Asset Allocation Portfolio had net outflows of $338.69M, from monthly SEC N-PORT filings.

C000018400 Debt Constituents

Largest debt holdings of AST Academic Strategies Asset Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.

C000018400 Prospectus and SEC Filings

Official AST Academic Strategies Asset Allocation Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-04-16
• Prospectus (485BPOS) — filed 2025-04-17
• Prospectus supplement (497) — filed 2024-11-08
• Portfolio holdings (N-PORT) — filed 2026-08-26
• Portfolio holdings (N-PORT) — filed 2026-05-27
• Portfolio holdings (N-PORT) — filed 2026-02-27
• Annual census (N-CEN) — filed 2026-03-13
• Annual census (N-CEN) — filed 2025-03-14

Related Funds

Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:

• Vanguard Total Stock Market Index Fund (VTSMX)
• Vanguard 500 Index Fund (VFINX)
• iShares Core S&P 500 ETF (IVV)
• Fidelity 500 Index Fund (FXAIX)
• Vanguard Institutional Index Fund (VINIX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.