AST Franklin Templeton K2 Global Absolute Return Portfolio

C000140442 Fund Overview

AST Franklin Templeton K2 Global Absolute Return Portfolio is a US mutual fund managed by Advanced Series Trust, categorised as Capital Appreciation / Growth Allocation. 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: Capital Appreciation / Growth Allocation
• Assets under management: $22.63M
• SEC CIK: 0000814679
• SEC series ID: S000045119
• Share class ID: C000140442

C000140442 Investment Objective and Strategy

AST Franklin Templeton K2 Global Absolute Return 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 capital appreciation with reduced market correlation.

Principal investment strategy

The Portfolio employs a flexible global asset allocation approach that aims to invest at least 40% of its assets in investments that are economically tied to a number of countries throughout the world. Under normal market conditions, the subadvisers may seek to achieve the Portfolios investment objective by: (1) investing in a diversified core portfolio of equity, fixed income, and alternative investments; and (2) strategically adjusting the Portfolios exposure to certain asset classes independent of the investment strategies that comprise the diversified core portfolio in a manner consistent with the Portfolios conditional risk overlay strategy. The Portfolio may invest in traditional asset classes, such as equity and fixed income investments, and certain alternative investment strategies, including, but not limited to, a hedge fund replication strategy and a risk premia strategy.

The Portfolio may invest in varying combinations of assets, including: (i) securities, including, without limitation, common stocks, preferred stocks, and bonds; (ii) other pooled investment vehicles, including, without limitation, open-end or closed-end investment companies, exchange-traded funds (ETFs), and unit investment trusts (collectively referred to herein as Underlying Portfolios); (iii) certain structured notes and financial and derivative instruments, including total return swaps and futures contracts; and (iv) cash or cash-related instruments. Derivative instruments in which the Portfolio and Underlying Portfolios may invest include futures, foreign currency contracts, options, and swaps, such as total return swaps, credit default swaps, interest rate swaps and structured notes including, without limitation, currency index structured notes, risk premia structured notes, and risk premia exchange traded notes.

The Portfolios net obligations with respect to all swap agreements (i.e., the aggregate net amount owned by the Portfolio) may exceed 15% of its net assets. Investment Process. K2/D&S Management Co., L.L.C. (K2) is responsible for managing the Portfolios tactical asset allocation, re-balancing the Portfolios allocations to the various asset classes and investment strategies described below, and cash management. K2 has discretion to change the targets and ranges set forth below, and also to determine whether to implement an investment strategy by investing directly in securities or by investing in Underlying Portfolios and/or ETFs. The investment strategies and the targets and ranges (expressed as a percentage of the Portfolios assets) for allocating the Portfolios assets among the investment strategies are as follows: Investment Strategy Target Range Global Equity Strategy 45% 20-60% Multi-Sector Fixed Income Strategy 22% 20-50% Hedge Fund Replication Strategy 18% 10-30% Risk Premia Strategy 15% 10-30%

C000140442 Costs and Fees

C000140442 costs about $118 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.18%
• Gross expense ratio: 1.98%
• Portfolio turnover: 28%
• Brokerage commissions: 2.46 bps of average net assets (SEC N-CEN)

C000140442 Cashflows

Over the 12 months to 2020-03, AST Franklin Templeton K2 Global Absolute Return Portfolio had net inflows of $5.84M, from monthly SEC N-PORT filings.

C000140442 Debt Constituents

No individual debt constituents are reported in AST Franklin Templeton K2 Global Absolute Return Portfolio's latest SEC N-PORT filing.

C000140442 Prospectus and SEC Filings

Official AST Franklin Templeton K2 Global Absolute Return Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-05-17
• Prospectus (485BPOS) — filed 2018-05-09
• Prospectus (485BPOS) — filed 2017-05-03
• Portfolio holdings (N-PORT) — filed 2020-05-27
• Portfolio holdings (N-PORT) — filed 2020-02-25
• Portfolio holdings (N-PORT) — filed 2019-11-27
• Annual census (N-CEN) — filed 2020-03-12
• Annual census (N-CEN) — filed 2019-03-15

Related Funds

Other Capital Appreciation / Growth Allocation funds tracked on ABC INVEST:

• Catalyst/Millburn Hedge Strategy Fund (MBXAX)
• Roundhill Magnificent Seven ETF (MAGS)
• SPDR Bridgewater All Weather ETF (ALLW)
• Capital Appreciation Value Fund (JCAVX)
• Goldman Sachs Growth Strategy Portfolio (GGSIX)

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.