AST Investment Grade Bond Portfolio
Data updated: 2026-08-26
C000057623 — AST Investment Grade Bond Portfolio. Intermediate Total / Aggregate Bond · $6.31B AUM. Holdings, fees, performance and SEC filings.
C000057623 Fund Overview
AST Investment Grade Bond Portfolio is a US mutual fund managed by Advanced Series Trust, categorised as Intermediate Total / Aggregate Bond. 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: Intermediate Total / Aggregate Bond
- Assets under management: $6.31B
- 1-year return: 3.5%
- SEC CIK: 0000814679
- SEC series ID: S000020634
- Share class ID: C000057623
C000057623 Investment Objective and Strategy
AST Investment Grade Bond 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 to maximize total return, consistent with the preservation of capital and liquidity needs. Total return is comprised of current income and capital appreciation.
Principal investment strategy
In pursuing its investment objective, the Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in investment grade bonds. For purposes of this 80% policy, investment grade bonds include: (i) all debt securities and all fixed income securities, excluding preferred stock, issued by both government and non-government issuers and rated BBB- or higher by S&P Global Ratings (S&P), or Baa3 or higher by Moodys Investors Service, Inc. (Moodys) or the equivalent by another nationally recognized statistical rating organization (NRSRO), or if unrated, are considered by the Portfolio's subadviser, PGIM Fixed Income, to be of comparable quality; and (ii) all derivatives and synthetic instruments that have economic characteristics that are similar to such debt securities and such fixed income securities.
In managing the Portfolios assets, PGIM Fixed Income uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy, and market trends. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread, and potential for price appreciation as well as credit quality, maturity, and risk. The Portfolio may invest in a security based upon the expected total return rather than the yield of such security.
PGIM Fixed Income currently intends to maintain an overall weighted average credit quality rating of A or better for the Portfolio. This target overall credit quality for the Portfolio will be based on ratings as of the date of purchase. In the event the overall credit quality drops below A due to downgrades of individual portfolio securities, the Portfolio's subadviser will take appropriate action based upon the relevant facts and circumstances. Although the Portfolio may invest in individual bonds of any maturity, PGIM Fixed Income expects to maintain the Portfolio's duration within +/- 0.50 years of its primary benchmark index (i.e., the Bloomberg US 5-10 Year Government/Credit Bond Index) As of December 31, 2025, the duration of the Bloomberg US 5-10 Year Government/Credit Bond Index was approximately 6.01 years.
Contract owners cannot select the Portfolio for investment. Instead, if a Contract owner selected certain benefits under their Contract, the Contract owners account value may be allocated to and from the Portfolio in accordance with a mathematical formula under the Contract. The Contracts using the Portfolio are issued by Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey, Fortitude Life Insurance & Annuity Company (formerly Prudential Annuities Life Assurance Corporation) and Everlake Life Insurance Company (formerly Allstate Life Insurance Company). For more information, Contract owners should see their Contract prospectus or contact the relevant Participating Insurance Company or their financial professional. The Portfolio may invest, without limitation, its assets in the AST PGIM Fixed Income Central Portfolio and the AST J.P.
Morgan Fixed Income Central Portfolio (the Central Portfolios). The Central Portfolios are each a special type of investment vehicle for sole use by certain asset allocation portfolios, including the Portfolio. The AST PGIM Fixed Income Central Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in investment grade bonds. The AST J.P. Morgan Fixed Income Central Portfolio normally invests at least 80% of their assets (net assets plus any borrowings made for investment purposes) in intermediate and long-term debt obligations and high-quality money market instruments. Rather than buy those securities directly, the Portfolio may invest in the Central Portfolios.
C000057623 Holdings
Top 10 holdings of AST Investment Grade Bond Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Advanced Series Trust | 26.48% |
| United States Of America - Bureau Of The Public Debt | 2.21% |
| Prudential Investment Portfolios 9 | 1.96% |
| United States Of America - Bureau Of The Public Debt | 1.60% |
| United States Of America - Bureau Of The Public Debt | 1.48% |
| (PIPA070) PGIM Core Government Money Market Fund | 1.47% |
| United States Of America - Bureau Of The Public Debt | 1.35% |
| United States Of America - Bureau Of The Public Debt | 0.99% |
| United States Of America - Bureau Of The Public Debt | 0.99% |
| Madison Park Funding Lix Ltd. | 0.91% |
C000057623 Portfolio Allocation
Asset-class allocation of AST Investment Grade Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 52.2% |
| Equity | 26.5% |
| Securitized | 20.0% |
| Cash & Equivalents | 3.4% |
C000057623 Performance
Total returns for C000057623 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.2% |
| 1 year | 3.5% |
| 3 years (annualised) | 4.9% |
| 5 years (annualised) | 0.2% |
C000057623 Risk Information
Risk metrics for C000057623, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.7%
C000057623 Costs and Fees
C000057623 costs about $69 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.69%
- Gross expense ratio: 0.73%
- Portfolio turnover: 105%
- Brokerage commissions: 1.08 bps of average net assets (SEC N-CEN)
C000057623 Cashflows
Over the 12 months to 2026-06, AST Investment Grade Bond Portfolio had net outflows of $2.51B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$148.34M |
| 2026-05 | −$243.77M |
| 2026-04 | −$1.15B |
| 2026-03 | $1.60B |
| 2026-02 | −$234.74M |
| 2026-01 | −$137.55M |
C000057623 Debt Constituents
Largest debt holdings of AST Investment Grade Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 2.21% |
| United States Of America - Bureau Of The Public Debt | 1.60% |
| United States Of America - Bureau Of The Public Debt | 1.48% |
| United States Of America - Bureau Of The Public Debt | 1.35% |
| United States Of America - Bureau Of The Public Debt | 0.99% |
| United States Of America - Bureau Of The Public Debt | 0.99% |
| United States Of America - Bureau Of The Public Debt | 0.86% |
| United States Of America - Bureau Of The Public Debt | 0.71% |
| United States Of America - Bureau Of The Public Debt | 0.70% |
| Broadcom, Inc. | 0.69% |
C000057623 Prospectus and SEC Filings
Official AST Investment Grade Bond Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2025-04-17
- Prospectus (485BPOS) — filed 2024-04-18
- 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 Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:
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.