UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
| | |
| Investment Company Act file number: | | 811-08085 |
| |
| Exact name of registrant as specified in charter: | | Strategic Partners Mutual Funds, Inc. |
| |
| Address of principal executive offices: | | Gateway Center 3, |
| | 100 Mulberry Street, |
| | Newark, New Jersey 07102 |
| |
| Name and address of agent for service: | | Deborah A. Docs |
| | Gateway Center 3, |
| | 100 Mulberry Street, |
| | Newark, New Jersey 07102 |
| |
| Registrant’s telephone number, including area code: | | 973-367-7521 |
| |
| Date of fiscal year end: | | 10/31/2006 |
| |
| Date of reporting period: | | 4/30/2006 |
Item 1 – Reports to Stockholders
SEMIANNUAL REPORT
APRIL 30, 2006
STRATEGIC PARTNERS
MUTUAL FUNDS, INC.
This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current prospectus.
The views expressed in this report and information about the Funds’ portfolio holdings are for the period covered by this report and are subject to change thereafter.
The accompanying financial statements as of April 30, 2006, were not audited, and accordingly, no auditor’s opinion is expressed on them.
STRATEGIC PARTNERS MUTUAL FUNDS, INC.
Supplement dated June 16, 2006 to the Prospectus and Statement of Additional Information (SAI) dated February 27, 2006
The following sets out changes to the Prospectus and SAI of Strategic Partners Mutual Funds, Inc. (“Company”), described below.
I. Strategic Partners High Yield Bond Fund
Effective on or about June 16, 2006, Pacific Investment Management Company LLC (“PIMCO”) is the sole Sub-Advisor to the Strategic Partners High Yield Bond Fund. Previously, PIMCO had been co-Sub-Advisor to the Fund with Goldman Sachs Asset Management, L.P. (“GSAM”). All text referring to “Sub-Advisor”, beyond historical data, is hereby considered to refer to PIMCO alone.
A. Changes to Prospectus
1. The following sentence is added to the end of the first paragraph in the section of the Prospectus titled “STRATEGIC PARTNERS HIGH YIELD BOND FUND—Principal Investment Policies and Risks” on page 72:
The Fund may also invest in other debt securities such as structured notes, hybrid instruments (up to 5% of assets), delayed funding loans and revolving credit facilities, event-linked bonds and inflation-indexed bonds.
B. Changes to SAI
1. The following replaces the first and second paragraphs of the section in the SAI titled “STRATEGIC PARTNERS HIGH YIELD BOND FUND:—Investment Policies:” on page B-62:
The Fund is appropriate for investors who seek a high level of current income and who also may wish to consider the potential for capital appreciation. A number of investment strategies are used to seek to achieve the Fund’s investment objective, including market sector selection, determination of yield curve exposure and issuer selection. In addition, the Sub-Advisor will attempt to take advantage of pricing inefficiencies in the fixed-income markets. The Sub-advisor starts the investment process with economic analysis to determine broad growth trends, industry-specific events and market forecasts. The market value of non-investment grade fixed-income securities tends to reflect individual developments within a company to a greater extent than higher rated corporate debt or Treasury bonds that react primarily to fluctuations in interest rates. Therefore, determining the creditworthiness of issuers is critical. Fund managers may review the opinions of the two largest independent credit rating agencies, Standard & Poor’s and Moody’s. The Fund’s managers and credit analysts also conduct their own in-depth analysis of the issues considered for inclusion in the Fund. The Fund managers and credit analysts evaluate such factors as a company’s competitive position, the strength of its balance sheet, its ability to withstand economic downturns and its potential to generate ample cash flow to service its debt. The ability to analyze accurately a company’s future cash flow by correctly anticipating the impact of economic, industry-wide and specific events is critical to successful high yield investing. The Sub-Advisor’s goal is to identify companies with the potential to strengthen their balance sheets by increasing their earnings, reducing their debt or effecting a turnaround. The Sub-Advisor will analyze trends in a company’s debt picture (i.e., the level of its interest coverage) as well as new developments in its capital structure on an ongoing basis.
The Fund is diversified among different sectors and industries on a global basis in an effort to reduce overall risk. While the Sub-Advisor will avoid excessive concentration in any one industry, the Fund’s specific industry weightings are the result of individual security selection. Emerging market debt considered for the Fund will be selected by specialists knowledgeable about the political and economic structure of those economies.
2. The following is added after the section in the SAI titled “STRATEGIC PARTNERS HIGH YIELD BOND FUND:—Investment Policies:—Loan Participations.” On page B-69:
Delayed Funding Loans and Revolving Credit Facilities
The Fund may enter into, or acquire participations in, delayed funding loans and revolving credit facilities. Delayed funding loans and revolving credit facilities are borrowing arrangements in which the lender agrees to make loans up to a maximum amount upon demand by the borrower during a specified term. A revolving credit facility differs from a delayed funding loan in that as the borrower repays the loan, an amount equal to the repayment may be borrowed again during the term of the revolving credit facility. Delayed funding loans and revolving credit facilities usually provide for floating or variable rates of interest. These commitments may have the effect of requiring the Fund to increase its investment in a company at a time when it might not otherwise decide to do so (including at a time when the company’s financial condition makes it unlikely that such amounts will be repaid). To the extent that the Fund is committed to advance additional funds, it will at all times segregate or “earmark” assets, determined to be liquid by the Sub-Advisor in accordance with procedures established by the Board of Trustees, in an amount sufficient to meet such commitments.
The Fund may invest in delayed funding loans and revolving credit facilities with credit quality comparable to that of issuers of its securities investments. Delayed funding loans and revolving credit facilities may be subject to restrictions on transfer, and only limited opportunities may exist to resell such instruments. As a result, the Fund may be unable to sell such investments at an opportune time or may have to resell them at less than fair market value. The Fund currently intends to treat delayed funding loans and revolving credit facilities for which there is no readily available market as illiquid for purposes of the Fund’s limitation on illiquid investments. For a further discussion of the risks involved in investing in Loan Participations and other forms of direct indebtedness see “Loan Participations.” Participation interests in revolving credit facilities will be subject to the limitations discussed in “Loan Participations.” Delayed funding loans and revolving credit facilities are considered to be debt obligations for purposes of the Trust’s investment restriction relating to the lending of funds or assets by the Fund.
3. The following is added to the section in the SAI titled “STRATEGIC PARTNERS HIGH YIELD BOND FUND:—Investment Policies:—Commercial Paper and Other Short-Term Commercial Obligations” on page B-70 as a new second paragraph:
Structured Notes. Structured notes are derivative debt securities, the interest rate or principal of which is determined by an unrelated indicator. Indexed securities include structured notes as well as securities other than debt securities, the interest rate or principal of which is determined by an unrelated indicator. Indexed securities may include a multiplier that multiplies the indexed element by a specified factor and, therefore, the value of such securities may be very volatile. The terms of the structured and indexed securities may provide that in certain circumstances no principal is due at maturity and therefore, may result in a loss of invested capital. Structured and indexed securities may be positively or negatively indexed, so that appreciation of the reference may produce an increase or a decrease in the interest rate or the value of the structured or indexed security at maturity may be calculated as a specified multiple of the change in the value of the reference; therefore, the value of such security may be very volatile. Structured and indexed securities may entail a greater degree of market risk than other types of debt securities because the investor bears the risk of the reference. Structured or indexed securities may also be more volatile, less liquid, and more difficult to accurately price than less complex securities or more traditional debt securities. To the extent the Fund invests in these securities, however, the Sub-Advisor will analyze these securities in its overall assessment of the effective duration of the Fund’s portfolio in an effort to monitor the Fund’s interest rate risk.
4. The following is added immediately preceding the section in the SAI titled “STRATEGIC PARTNERS HIGH YIELD BOND FUND:—Investment Policies:—Interest Rate Swaps, Mortgage Swaps, Credit Swaps, Total Return Swaps, Options on Swaps and Interest Rate Caps, Floors and Collars.” On page B-79:
Hybrid Instruments
A hybrid instrument is a type of potentially high-risk derivative that combines a traditional stock, bond, or commodity with an option or forward contract. Generally, the principal amount, amount payable upon maturity or redemption, or
interest rate of a hybrid is tied (positively or negatively) to the price of some commodity, currency or securities index or another interest rate or some other economic factor (each a “benchmark”). The interest rate or (unlike most fixed income securities) the principal amount payable at maturity of a hybrid security may be increased or decreased, depending on changes in the value of the benchmark. An example of a hybrid could be a bond issued by an oil company that pays a small base level of interest with additional interest that accrues in correlation to the extent to which oil prices exceed a certain predetermined level. Such an hybrid instrument would be a combination of a bond and a call option on oil.
Hybrids can be used as an efficient means of pursuing a variety of investment goals, including currency hedging, duration management, and increased total return. Hybrids may not bear interest or pay dividends. The value of a hybrid or its interest rate may be a multiple of a benchmark and, as a result, may be leveraged and move (up or down) more steeply and rapidly than the benchmark. These benchmarks may be sensitive to economic and political events, such as commodity shortages and currency devaluations, which cannot be readily foreseen by the purchaser of a hybrid. Under certain conditions, the redemption value of a hybrid could be zero. Thus, an investment in a hybrid may entail significant market risks that are not associated with a similar investment in a traditional, U.S. dollar-denominated bond that has a fixed principal amount and pays a fixed rate or floating rate of interest. The purchase of hybrids also exposes the Fund to the credit risk of the issuer of the hybrids. These risks may cause significant fluctuations in the net asset value of the Fund. The Fund will not invest more than 5% of its total assets in hybrid instruments.
Certain hybrid instruments may provide exposure to the commodities markets. These are derivative securities with one or more commodity-linked components that have payment features similar to commodity futures contracts, commodity options, or similar instruments. Commodity-linked hybrid instruments may be either equity or debt securities, and are considered hybrid instruments because they have both security and commodity-like characteristics. A portion of the value of these instruments may be derived from the value of a commodity, futures contract, index or other economic variable. The Fund will only invest in commodity-linked hybrid instruments that qualify under applicable rules of the CFTC for an exemption from the provisions of the CEA.
Certain issuers of structured products such as hybrid instruments may be deemed to be investment companies as defined in the 1940 Act. As a result, the Fund’s investments in these products may be subject to limits applicable to investments in investment companies and may be subject to restrictions contained in the 1940 Act.
Event-Linked Exposure
The Fund may obtain event-linked exposure by investing in “event-linked bonds” Event-linked exposure results in gains that typically are contingent on the non-occurrence of a specific “trigger” event, such as a hurricane, earthquake, or other physical or weather-related phenomena. Some event-linked bonds are commonly referred to as “catastrophe bonds.” They may be issued by government agencies, insurance companies, reinsurers, special purpose corporations or other on-shore or off-shore entities (such special purpose entities are created to accomplish a narrow and well-defined objective, such as the issuance of a note in connection with a reinsurance transaction). If a trigger event causes losses exceeding a specific amount in the geographic region and time period specified in a bond, the Fund, when investing in the bond, may lose a portion or all of its principal invested in the bond. If no trigger event occurs, the Fund will recover its principal plus interest. For some event-linked bonds, the trigger event or losses may be based on company-wide losses, index-portfolio losses, industry indices, or readings of scientific instruments rather than specified actual losses. Often the event-linked bonds provide for extensions of maturity that are mandatory, or optional at the discretion of the issuer, in order to process and audit loss claims in those cases where a trigger event has, or possibly has, occurred. An extension of maturity may increase volatility. In addition to the specified trigger events, event-linked bonds may also expose the Fund to certain unanticipated risks including but not limited to issuer risk, credit risk, counterparty risk, adverse regulatory or jurisdictional interpretations, and adverse tax consequences.
Event-linked bonds are a relatively new type of financial instrument. As such, there is no significant trading history of these securities, and there can be no assurance that a liquid market in these instruments will develop. See “Illiquid Securities” below. Lack of a liquid market may impose the risk of higher transaction costs and the possibility that the Fund may be forced to liquidate positions when it would not be advantageous to do so. Event-linked bonds are typically rated, and the Fund will only invest in catastrophe bonds that meet the credit quality requirements for the Fund.
Inflation-Indexed Bonds
Inflation-indexed bonds are fixed income securities whose principal value is periodically adjusted according to the rate of inflation. Two structures are common. The U.S. Treasury and some other issuers use a structure that accrues inflation into the principal value of the bond. Most other issuers pay out the CPI accruals as part of a semiannual coupon.
Inflation-indexed securities issued by the U.S. Treasury have maturities of five, ten or thirty years, although it is possible that securities with other maturities will be issued in the future. The U.S. Treasury securities pay interest on a semi-annual basis, equal to a fixed percentage of the inflation-adjusted principal amount. For example, if the Fund purchased an inflation-indexed bond with a par value of $1,000 and a 3% real rate of return coupon (payable 1.5% semi-annually), and inflation over the first six months were 1%, the mid-year par value of the bond would be $1,010 and the first semi-annual interest payment would be $15.15 ($1,010 times 1.5%). If inflation during the second half of the year resulted in the whole years’ inflation equaling 3%, the end-of-year par value of the bond would be $1,030 and the second semi-annual interest payment would be $15.45 ($1,030 times 1.5%).
If the periodic adjustment rate measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds, even during a period of deflation. However, the current market value of the bonds is not guaranteed, and will fluctuate. The Fund may also invest in other inflation related bonds which may or may not provide a similar guarantee. If a guarantee of principal is not provided, the adjusted principal value of the bond repaid at maturity may be less than the original principal.
The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates in turn are tied to the relationship between nominal interest rates and the rate of inflation. Therefore, if inflation were to rise at a faster rate than nominal interest rates, real interest rates might decline, leading to an increase in value of inflation-indexed bonds. In contrast, if nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-indexed bonds.
While these securities are expected to be protected from long-term inflationary trends, short-term increases in inflation may lead to a decline in value. If interest rates rise due to reasons other than inflation (for example, due to changes in currency exchange rates), investors in these securities may not be protected to the extent that the increase is not reflected in the bond’s inflation measure.
The periodic adjustment of U.S. inflation-indexed bonds is tied to the Consumer Price Index for Urban Consumers (“CPI-U”), which is calculated monthly by the U.S. Bureau of Labor Statistics. The CPI-U is a measurement of changes in the cost of living, made up of components such as housing, food, transportation and energy. Inflation-indexed bonds issued by a foreign government are generally adjusted to reflect a comparable inflation index, calculated by that government. There can be no assurance that the CPI-U or any foreign inflation index will accurately measure the real rate of inflation in the prices of goods and services. Moreover, there can be no assurance that the rate of inflation in a foreign country will be correlated to the rate of inflation in the United States.
Any increase in the principal amount of an inflation-indexed bond will be considered taxable ordinary income, even though investors do not receive their principal until maturity.
II. Fund Expenses
1. Footnote number 6 to the Expense Information Table that appears on page 39 of the Prospectus is deleted and replaced with the following:
6The Funds’ investment manager has contractually agreed to reimburse and/or waive fees for each Fund through February 28, 2007 so that each Fund’s operating expenses, exclusive of taxes, interest, brokerage commissions, distribution fees and extraordinary expenses, do not exceed specified percentages of the Fund’s average net assets
as follows: Strategic Partners International Growth Fund—1.60%; Strategic Partners Small-Cap Growth Fund (formerly known as Strategic Partners Managed Small-Cap Growth Fund)—1.30%; Strategic Partners Strategic Partners Mid-Cap Growth Fund—1.40%; Strategic Partners Mid-Cap Value Fund (formerly known as Strategic Partners Relative Value Fund)—1.35%; Strategic Partners Technology Fund—1.40%; Strategic Partners Managed OTC Fund—1.25%; Strategic Partners Capital Growth Fund—1.30%; Strategic Partners Concentrated Growth Fund—1.25%; Strategic Partners Core Value Fund—1.20%; Strategic Partners Large Cap Core Fund—1.00%; Strategic Partners Equity Income Fund—1.15%; Strategic Partners Balanced Fund—1.15%; Strategic Partners High Yield Bond Fund—1.00%; Strategic Partners Money Market Fund—1.00%.
The Investment Manager has contractually undertaken through February 28, 2007 to waive 0.10% of the Money Market Fund’s annual management fee, 0.05% of the Strategic Partners International Growth Fund’s annual management fee and 0.10% of the Strategic Partners Small Cap Growth Fund’s annual management fee.
2. The following replaces the portion of the Expense Information Tables on pages 40 and 42 of the Prospectus pertaining to the Strategic Partners Small Cap Growth Fund:
Costs to shareholder assuming full redemption at the end of period being measured:
Strategic Partners Small-Cap Growth Fund (formerly known as Strategic Partners Managed Small-Cap Growth Fund)
| | | | | | | | |
| | | 1 Year | | 3 Years | | 5 Years | | 10 Years |
| Class A | | $699 | | $1,249 | | $1,824 | | $3,378 |
| Class B | | $733 | | $1,253 | | $1,795 | | $3,421 |
| Class M | | $833 | | $1,353 | | $1,895 | | $3,495 |
| Class X | | $833 | | $1,353 | | $1,995 | | $3,653 |
| Class C | | $333 | | $953 | | $1,695 | | $3,653 |
| Class L | | $747 | | $1,333 | | $1,943 | | $3,581 |
Costs to shareholder assuming no redemption at the end of the period being measured:
Strategic Partners Small-Cap Growth Fund (formerly known as Strategic Partners Managed Small-Cap Growth Fund)
| | | | | | | | |
| | | 1 Year | | 3 Years | | 5 Years | | 10 Years |
| Class A | | $699 | | $1,249 | | $1,824 | | $3,378 |
| Class B | | $233 | | $953 | | $1,695 | | $3,421 |
| Class M | | $233 | | $953 | | $1,695 | | $3,495 |
| Class X | | $233 | | $953 | | $1,695 | | $3,653 |
| Class C | | $233 | | $953 | | $1,695 | | $3,653 |
| Class L | | $747 | | $1,333 | | $1,943 | | $3,581 |
LR0046
Strategic Partners Mutual Funds, Inc.
List of Subadvisors
| | |
| STRATEGIC PARTNERS FUND NAME | | SUBADVISOR |
| Strategic Partners International Growth Fund | | William Blair & Company, L.L.C. |
| Strategic Partners Small Cap Growth Fund | | RS Investment Management, L.P. and Transamerica Asset Management LLC |
| Strategic Partners Mid Cap Growth Fund | | Goldman Sachs Asset Management, L.P. |
| Strategic Partners Mid Cap Value Fund | | Neuberger Berman Management, Inc. |
| Strategic Partners Technology Fund | | The Dreyfus Corporation |
| Strategic Partners Managed OTC Fund | | ProFund Advisors LLC |
| Strategic Partners Capital Growth Fund | | Marsico Capital Management, LLC |
| Strategic Partners Concentrated Growth Fund | | Goldman Sachs Asset Management, L.P. |
| Strategic Partners Core Value Fund | | AllianceBernstein, L.P. |
| Strategic Partners Large Cap Core Fund | | AllianceBernstein, L.P. |
| Strategic Partners Equity Income Fund | | AllianceBernstein, L.P. and
T. Rowe Price Associates, Inc. |
| Strategic Partners Balanced Fund | | American Century Investment Management, Inc. |
| Strategic Partners High Yield Bond Fund | | Goldman Sachs Asset Management, L.P.,
Pacific Investment Management Company LLC |
| Strategic Partners Money Market Fund | | Prudential Investment Management, Inc. |
Subadvisors are subject to change.
For more information about Strategic Partners Mutual Funds, Inc., call your financial professional for a prospectus. You should consider the Funds’ investment objectives, risks, charges, and expenses carefully before investing. The prospectus will contain this and other information about the investment company. Please read the prospectus carefully before investing.
Shares of Strategic Partners Mutual Funds, Inc. are distributed by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, 14th Floor, Newark, NJ 07102-4077, and American Skandia Marketing, Incorporated (ASMI), One Corporate Drive, Shelton, CT 06484. Both are Prudential Financial companies and members Securities Investor Protection Corporation (SIPC).
Dear Shareholder:
June 16, 2006
We hope you find the semiannual report for Strategic Partners Mutual Funds, Inc. informative and useful. As a Strategic Partners mutual fund shareholder, you may be thinking about where you can find additional growth opportunities. You could invest in last year’s top-performing asset class and hope history repeats itself or you could stay in cash while waiting for the “right moment” to invest.
Instead, we believe it is better to take advantage of developing domestic and global investment opportunities through a diversified portfolio of stock and bond mutual funds. A diversified asset allocation offers two potential advantages. It helps you manage downside risk by not being overly exposed to any particular asset class, plus it gives you a better opportunity to have at least some of your assets in the right place at the right time. Your financial professional can help you create a diversified investment plan that may include mutual funds covering all the basic asset classes and that reflects your personal investment profile and tolerance for risk.
Strategic Partners Mutual Funds gives you a wide range of choices that can help you make progress toward your financial goals. Our funds feature leading asset managers not just from a single company but from the entire investment industry.
Thank you for choosing Strategic Partners Mutual Funds.
Sincerely,
Judy A. Rice, President
Strategic Partners Mutual Funds, Inc.
Strategic Partners Mutual Funds, Inc.
CUSIP Numbers and NASDAQ Symbols
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| International Growth Fund | | A | | 86277E492 | | SPWAX |
| | | B | | 86277E476 | | N/A |
| | | C | | 86277E450 | | WBCIX |
| | | L* | | 86277E484 | | WBAIX |
| | | M** | | 86277E468 | | WBBIX |
| | | X*** | | 86277E443 | | WBZIX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Small Cap Growth Fund | | A | | 86277C777 | | SPHAX |
| | | B | | 86277C751 | | N/A |
| | | C | | 86277C736 | | DCAMX |
| | | L* | | 86277C769 | | DAMAX |
| | | M** | | 86277C744 | | DAMBX |
| | | X*** | | 86277C728 | | DAMZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Mid Cap Growth Fund | | A | | 86277C512 | | N/A |
| | | B | | 86277C488 | | N/A |
| | | C | | 86277C462 | | GCMGX |
| | | L* | | 86277C496 | | GAMGX |
| | | M** | | 86277C470 | | GBMGX |
| | | X*** | | 86277C454 | | N/A |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Mid Cap Value Fund | | A | | 86277E807 | | SPRAX |
| | | B | | 86277E872 | | SVUBX |
| | | C | | 86277E856 | | NCBVX |
| | | L* | | 86277E880 | | NABVX |
| | | M** | | 86277E864 | | NBBVX |
| | | X*** | | 86277E849 | | NBVZX |
| | | Z***** | | 86277E435 | | SPVZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Technology Fund | | A | | 86277C314 | | N/A |
| | | B | | 86277C280 | | N/A |
| | | C | | 86277C264 | | ICNVX |
| | | L* | | 86277C298 | | IANVX |
| | | M** | | 86277C272 | | IBNVX |
| | | X*** | | 86277C256 | | IXNZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Managed OTC Fund | | A | | 86277E690 | | N/A |
| | | B | | 86277E674 | | N/A |
| | | C | | 86277E658 | | PCMOX |
| | | L* | | 86277E682 | | PRMAX |
| | | M** | | 86277E666 | | PMOBX |
| | | X*** | | 86277E641 | | N/A |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Capital Growth Fund | | A | | 86277C249 | | SPPAX |
| | | B | | 86277C223 | | N/A |
| | | C | | 86277C199 | | MARCX |
| | | L* | | 86277C231 | | MARAX |
| | | M** | | 86277C215 | | MARBX |
| | | X*** | | 86277C181 | | MARZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Concentrated Growth Fund | | A | | 86277C579 | | SPTAX |
| | | B | | 86277C553 | | N/A |
| | | C | | 86277C538 | | CCGSX |
| | | L* | | 86277C561 | | CAGSX |
| | | M** | | 86277C546 | | CBGSX |
| | | X*** | | 86277C520 | | CZGSX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Core Value Fund | | A | | 86277E633 | | SPCAX |
| | | B | | 86277E617 | | N/A |
| | | C | | 86277E583 | | SBVCX |
| | | L* | | 86277E625 | | SOVAX |
| | | M** | | 86277E591 | | SVCBX |
| | | X*** | | 86277E575 | | N/A |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Large Cap Core Fund | | A | | 86277E567 | | SPUAX |
| | | B | | 86277E542 | | N/A |
| | | C | | 86277E526 | | MCIFX |
| | | L* | | 86277E559 | | MAIFX |
| | | M** | | 86277E534 | | MBIFX |
| | | X*** | | 86277E518 | | MXIFX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Equity Income Fund | | A | | 86277C108 | | SPQAX |
| | | B | | 86277C306 | | N/A |
| | | C | | 86277C504 | | AGOCX |
| | | L* | | 86277C207 | | AGOAX |
| | | M** | | 86277C405 | | AGOBX |
| | | X*** | | 86277C603 | | AXGOX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Balanced Fund | | A | | 86277C702 | | SPLAX |
| | | B | | 86277C884 | | N/A |
| | | C | | 86277C868 | | ACBCX |
| | | L* | | 86277C801 | | AACBX |
| | | M** | | 86277C876 | | ACBBX |
| | | X*** | | 86277C850 | | ACBZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| High Yield Bond Fund | | A | | 86277C710 | | SPYAX |
| | | B | | 86277C686 | | N/A |
| | | C | | 86277C660 | | FCHYX |
| | | L* | | 86277C694 | | FHYAX |
| | | M** | | 86277C678 | | FBHYX |
| | | X*** | | 86277C652 | | FHYZX |
| | | | | | |
| FUND | | CLASS | | CUSIP | | NASDAQ |
| Money Market Fund**** | | A | | 86277E104 | | N/A |
| | | C | | 86277E609 | | ASCXX |
| | | D | | 86277E302 | | N/A |
| | | L* | | 86277E203 | | AASXX |
| | | M** | | 86277E500 | | ABSXX |
| | | X*** | | 86277E708 | | ASXXX |
*Closed to most new purchases (with the exception of reinvested dividends and purchases by college savings plans) and available for limited exchanges only.
**Closed to most new purchases (with the exception of reinvested dividends) and available for limited exchanges only.
***Closed to most new purchases (with the exception of reinvested dividends) and available for limited exchanges only.
****Available for limited exchanges only.
*****Inception date of 11/28/05.
STRATEGIC PARTNERS MUTUAL FUNDS, INC.
Table of Contents
| | |
Financial Statements | | |
Statements of Assets and Liabilities | | 100 |
Statements of Operations | | 106 |
Statements of Changes in Net Assets | | 110 |
Notes to Financial Statements | | 116 |
Supplemental Proxy Information | | 218 |
Approvals of New Subadvisory Agreement | | 219 |
Summary of Definitions
The following pages present information on the investment performance of each Fund, including comparisons with relevant market indexes. An investment cannot be made directly in an index.
Definitions for Broad Market Indexes
Investors cannot invest directly in an index. Returns for the Indexes on the following pages would be lower if they included the effects of sales charges, operating expenses of a mutual fund, or taxes.
Blended Index—The Blended Index is calculated by weighting the S&P 500 Index at 60% and the Lehman Brothers Government/Corporate Bond Index at 40%. The Lehman Brothers Government/Corporate Bond Index is an unmanaged index composed of intermediate- and long-term government and investment-grade corporate debt securities.
Lehman Brothers U.S. Aggregate Bond Index—The Lehman Brothers U.S. Aggregate Bond Index is an unmanaged, market-weighted index that tracks the daily price, coupon pay-downs, and total return performance of fixed-rate, publicly placed, dollar-denominated, and nonconvertible investment-grade debt issues without at least $100 million par amount outstanding and with at least one year to final maturity.
Lehman Brothers U.S. Corporate High Yield Index—The Lehman Brothers U.S. Corporate High Yield Index is an unmanaged index that is generally representative of corporate bonds rated below investment grade. It comprises issues that meet the following criteria: at least $150 million par value outstanding, maximum credit rating of Ba1 or BB+ (including defaulted issues), and at least one year to maturity.
Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index—The Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of U.S. dollar-denominated, nonconvertible, fixed-rate, non-investment-grade debt. Issuers are capped at 2% of the Index. Index holdings must have at least one year to final maturity, at least $150 million par amount outstanding, and be publicly issued with a rating of Ba1 or lower.
ML High Yield Master II Index—The Merrill Lynch (ML) High Yield Master II Index is an unmanaged index of publicly traded, nonconvertible U.S. bonds rated below investment grade.
MSCI EAFE® Index—The Morgan Stanley Capital International Europe, Australasia, Far East Index (MSCI EAFE® Index) is an unmanaged, weighted index of performance that reflects stock price movements in Europe, Australasia, and the Far East.
NASDAQ-100 Index—The NASDAQ-100 Index is an unmanaged, modified, capitalization-weighted index of the 100 largest and most active nonfinancial domestic and international issues listed on the NASDAQ.
Russell 1000® Index—The Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index.
Russell 1000® Growth Index—The Russell 1000 Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.
Russell 1000® Value Index—The Russell 1000 Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.
Russell 2000 Index—The Russell 2000 Index is an unmanaged, weighted index that comprises the smallest 2,000 stocks among the largest 3,000 equity-capitalized U.S. corporations and represents approximately 10% of their aggregate market value.
Russell 2000® Growth Index—The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.
Russell Midcap® Index—The Russell Midcap Index measures the performance of the 800 smallest companies in the Russell 1000 Index, which represent approximately 25% of the total market capitalization of the Russell 1000 Index.
Russell Midcap® Growth Index—The Russell Midcap Growth Index measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values. The stocks are also members of the Russell 1000 Growth index.
Russell Midcap® Value Index—The Russell Midcap Value Index measures the performance of those Russell Midcap companies with lower price-to-book ratios and lower forecasted growth values. The stocks are also members of the Russell 1000 Value index.
S&P MidCap 400 Index—The Standard & Poor’s MidCap 400 Stock Index (S&P MidCap 400 Index) is an unmanaged index of 400 domestic stocks chosen for market size, liquidity, and industry group representation. It gives a broad look at how U.S. mid-cap stock prices have performed.
S&P 500 Index—The Standard & Poor’s 500 Composite Stock Price Index (S&P 500 Index) is an unmanaged index of 500 stocks of large U.S. public companies. It gives a broad look at how U.S. stock prices have performed.
Definitions for Lipper Averages
Lipper Averages are the average returns of all funds in the specified Lipper comparison group. The Lipper Averages on the following pages reflect the deduction of operating expenses, but not sales charges or taxes.
Lipper Balanced Funds Average—Funds in the Lipper Balanced Funds Average have primary objectives to conserve principal by maintaining at all times a balanced portfolio of both stocks and bonds. Typically, the stock:bond ratio ranges around 60%:40%.
Lipper Corporate Debt Funds A-Rated Average—Funds in the Lipper Corporate Debt Funds A-Rated Average invest primarily in corporate debt issues rated “A” or better, or government issues.
Lipper Equity Income Funds Average—Funds in the Lipper Equity Income Funds Average seek relatively high current income and growth of income through investing 60% or more of its portfolio in equities.
Lipper Health/Biotechnology Funds Average—Funds in the Lipper Health/Biotechnology Funds Average invest primarily in shares of companies engaged in healthcare, medicine, and biotechnology.
Lipper High Current Yield Funds Average—Funds in the Lipper High Current Yield Funds Average aim at high (relative) current yield from fixed income securities, have no quality or maturity restrictions, and tend to invest in lower-grade debt issues.
Lipper International Multi-Cap Growth Funds Average—Funds in the Lipper International Multi-Cap Growth Funds Average invest in a variety of market-capitalization ranges without concentrating 75% of their equity assets in any one market-capitalization range over an extended period of time. Multi-cap funds typically have 25% to 75% of their assets invested in companies strictly outside of the United States with market capitalizations (on a three-year weighted basis) greater than the 250th largest company in the S&P/Citigroup World ex-U.S. Broad Market Index (BMI). Multi-cap growth funds typically have an above-average price-to-cash flow ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P/Citigroup World ex-U.S. BMI.
Lipper Large-Cap Core Funds Average—Funds in the Lipper Large-Cap Core Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) greater than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Large-cap core funds have more latitude in the companies in which they invest. These funds typically have an average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P 500 Index.
Lipper Large-Cap Growth Funds Average—Funds in the Lipper Large-Cap Growth Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) greater than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Large-cap growth funds typically have an above-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P 500 Index.
Lipper Large-Cap Value Funds Average—Funds in the Lipper Large-Cap Value Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) greater than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Large-cap value funds typically have a below-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P 500 Index.
Lipper Mid-Cap Growth Funds Average—Funds in the Lipper Mid-Cap Growth Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) less than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Mid-cap growth funds have more latitude in the companies in which they invest. These funds typically have an average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P MidCap 400 Index.
Lipper Mid-Cap Value Funds Average—Funds in the Lipper Mid-Cap Value Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) less than 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Mid-cap value funds typically have a below-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P MidCap 400 Index.
Lipper Mix-Asset Target Allocation Moderate Funds Index—Funds in the Lipper Mix-Asset Target Allocation Moderate Funds Average, by portfolio practice, maintain a mix of between 40% and 60% equity securities, with the remainder in bonds, cash, and cash equivalents.
Lipper Money Market Instrument Funds Average—Funds in the Lipper Money Market Instrument Funds Average invest in high-quality financial instruments rated in top two grades with dollar-weighted average maturities of less than 90 days. These funds typically intend to keep a constant net asset value.
Lipper Multi-Cap Growth Funds Average—Funds in the Lipper Multi-Cap Growth Funds Average invest in a variety of market-capitalization ranges without concentrating 75% of their equity assets in any one market-capitalization range over an extended period of time. Multi-cap funds typically have between 25% and 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Multi-cap growth funds typically have an above-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P SuperComposite 1500 Index.
Lipper Multi-Cap Value Funds Average—Funds in the Lipper Multi-Cap Value Funds Average, by portfolio practice, invest in a variety of market-capitalization ranges without concentrating 75% of their equity assets in any one market-capitalization range over an extended period of time. Multi-cap funds typically have between 25% and 75% of their assets invested in companies with market capitalizations (on a three-year weighted basis) above 300% of the dollar-weighted median market capitalization of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Multi-cap value funds have a below-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P SuperComposite 1500 Index.
Lipper Science & Technology Funds Average—Funds in the Lipper Science & Technology Funds Average invest primarily in science and technology stocks.
Lipper Small-Cap Core Funds Average—Funds in the Lipper Small-Cap Core Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) less than 250% of the dollar-weighted median of the smallest 500 of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Small-cap core funds have more latitude in the companies in which they invest. These funds typically have an average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P SmallCap 600 Index.
Lipper Small-Cap Growth Funds Average—Funds in the Lipper Small-Cap Growth Funds Average, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) less than 250% of the dollar-weighted median of the smallest 500 of the middle 1,000 securities of the S&P SuperComposite 1500 Index. Small-cap growth funds typically have an above-average price-to-earnings ratio, price-to-book ratio, and three-year sales-per-share growth value compared with the S&P SmallCap 600 Index.
Your Fund’s Performance
Strategic Partners International Growth Fund
Fund objective
The investment objective of the Strategic Partners International Growth Fund is to seek long-term growth of capital. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
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| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 24.56 | % | | 37.09 | % | | N/A | | | 42.40 | % |
Class B4 | | 24.08 | | | 36.06 | | | N/A | | | 40.12 | |
Class C | | 24.17 | | | 36.13 | | | 27.79 | % | | 71.48 | |
Class L3 | | 24.40 | | | 36.83 | | | 30.98 | | | 78.36 | |
Class M4 | | 24.08 | | | 36.06 | | | 27.60 | | | 70.95 | |
Class X | | 24.06 | | | 36.14 | | | 27.68 | | | 71.05 | |
MSCI EAFE® Index5 | | 22.89 | | | 33.49 | | | 55.17 | | | * | |
Lipper International Multi-Cap Growth Funds Avg.5 | | 24.52 | | | 36.89 | | | 48.69 | | | ** | |
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| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 22.03 | % | | N/A | | | 14.21 | % |
Class B4 | | | | | 23.16 | | | N/A | | | 14.87 | |
Class C | | | | | 27.17 | | | 6.26 | % | | 6.31 | |
Class L3 | | | | | 21.41 | | | 5.52 | | | 6.05 | |
Class M4 | | | | | 22.08 | | | 5.91 | | | 6.26 | |
Class X | | | | | 22.16 | | | 5.77 | | | 6.27 | |
MSCI EAFE® Index5 | | | | | 24.41 | | | 9.63 | | | * | |
Lipper International Multi-Cap Growth Funds Avg.5 | | | | | 27.71 | | | 8.41 | | | ** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 12/31/97.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*MSCI EAFE® Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 49.98% for Class A and Class B; and 87.27% for Class C, Class L, Class M, and Class X. MSCI EAFE® Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 19.64% for Class A and Class B; and 7.29% for Class C, Class L, Class M, and Class X.
**Lipper International Multi-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 47.26% for Class A and Class B; and 89.83% for Class C, Class L, Class M, and Class X. Lipper International Multi-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 18.47% for Class A and Class B; and 6.98% for Class C, Class L, Class M, and Class X.
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| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | |
Roche Holding AG, Pharmaceuticals | | 3.1 | % |
SAP AG, Software | | 2.9 | |
BG Group PLC, Oil, Gas & Consumable Fuels | | 2.9 | |
L’Oreal SA, Consumer Products & Services | | 2.8 | |
ORIX Corp., Diversified Financial Services | | 2.7 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Small Cap Growth Fund
Fund objective
The investment objective of the Strategic Partners Small Cap Growth Fund is to seek capital growth. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
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| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 16.05 | % | | 24.04 | % | | N/A | | | 9.22 | % |
Class B4 | | 15.59 | | | 22.88 | | | N/A | | | 6.32 | |
Class C | | 15.66 | | | 23.16 | | | 2.74 | % | | –41.13 | |
Class L3 | | 15.98 | | | 23.77 | | | 5.32 | | | –39.23 | |
Class M4 | | 15.66 | | | 23.16 | | | 2.74 | | | –41.13 | |
Class X | | 15.63 | | | 23.11 | | | 2.92 | | | –41.03 | |
Russell 2000 Index5 | | 18.91 | | | 33.47 | | | 67.77 | | | | * |
Russell 2000 Growth Index5 | | 20.31 | | | 36.13 | | | 34.12 | | | ** | |
Lipper Small-Cap Growth Funds Avg.5 | | 19.43 | | | 34.35 | | | 36.31 | | | *** | |
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| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 8.26 | % | | N/A | | | 1.59 | % |
Class B4 | | | | | 8.56 | | | N/A | | | 1.17 | |
Class C | | | | | 12.65 | | | 2.95 | % | | –8.34 | |
Class L3 | | | | | 7.75 | | | 2.28 | | | –8.75 | |
Class M4 | | | | | 7.65 | | | 2.59 | | | –8.49 | |
Class X | | | | | 7.62 | | | 2.45 | | | –8.61 | |
Russell 2000 Index5 | | | | | 25.85 | | | 12.59 | | | | * |
Russell 2000 Growth Index5 | | | | | 27.84 | | | 8.59 | | | ** | |
Lipper Small-Cap Growth Funds Avg.5 | | | | | 26.09 | | | 8.24 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 3/01/00.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*Russell 2000 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 28.58% for Class A and Class B; and –18.91% for Class C, Class L, Class M, and Class X. Russell 2000 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 15.18% for Class A and Class B; and 6.07% for Class C, Class L, Class M, and Class X.
**Russell 2000 Growth Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 28.58% for Class A and Class B; and 18.91% for Class C, Class L, Class M, and Class X. Russell 2000 Growth Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 13.56% for Class A and Class B; and –3.34% for Class C, Class L, Class M, and Class X.
***Lipper Small-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 27.90% for Class A and Class B; and 1.95% for Class C, Class L, Class M, and Class X. Lipper Small-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 12.89% for Class A and Class B; and –1.33% for Class C, Class L, Class M, and Class X.
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| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Superior Energy Service, Corp., Oil, Gas & Consumable Fuels | | 1.7 | % |
Oil States International, Inc., Oil, Gas & Consumable Fuels | | 1.6 | |
American Medical Systems Holdings, Inc., Pharmaceuticals | | 1.5 | |
Gardner Denver, Inc., Diversified Machinery | | 1.4 | |
Digital Insight, Corp., Financial Services | | 1.4 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Mid Cap Growth Fund
Fund objective
The investment objective of the Strategic Partners Mid Cap Growth Fund is to seek long-term growth of capital. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
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| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 11.88 | % | | 20.75 | % | | N/A | | | 21.31 | % |
Class B4 | | 11.53 | | | 20.05 | | | N/A | | | 19.48 | |
Class C | | 11.36 | | | 19.90 | | | –18.03 | % | | –49.98 | |
Class L3 | | 11.74 | | | 20.66 | | | –16.01 | | | –48.50 | |
Class M4 | | 11.33 | | | 19.86 | | | –17.87 | | | –49.88 | |
Class X | | 11.36 | | | 19.90 | | | –17.90 | | | –49.98 | |
S&P MidCap 400 Index5 | | 15.26 | | | 28.32 | | | 66.45 | | | * | |
Russell Midcap Index5 | | 14.35 | | | 26.42 | | | 67.35 | | | ** | |
Russell Midcap Growth Index5 | | 15.18 | | | 28.27 | | | 32.40 | | | *** | |
Lipper Mid-Cap Growth Funds Avg.5 | | 16.41 | | | 30.46 | | | 24.56 | | | **** | |
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| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 10.17 | % | | N/A | | | 7.38 | % |
Class B4 | | | | | 10.33 | | | N/A | | | 7.70 | |
Class C | | | | | 14.40 | | | –2.51 | % | | –11.67 | |
Class L3 | | | | | 9.34 | | | –3.20 | | | –12.18 | |
Class M4 | | | | | 9.37 | | | –2.83 | | | –11.96 | |
Class X | | | | | 9.67 | | | –3.07 | | | –11.99 | |
S&P MidCap 400 Index5 | | | | | 21.62 | | | 12.75 | | | * | |
Russell Midcap Index5 | | | | | 21.54 | | | 12.52 | | | ** | |
Russell Midcap Growth Index5 | | | | | 22.68 | | | 8.99 | | | *** | |
Lipper Mid-Cap Growth Funds Avg.5 | | | | | 23.66 | | | 6.46 | | | **** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 9/11/00.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P MidCap 400 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 36.20% for Class A and Class B; and 57.46% for Class C, Class L, Class M, and Class X. S&P MidCap 400 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 15.89% for Class A and Class B; and 8.20% for Class C, Class L, Class M, and Class X.
**Russell Midcap Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 39.58% for Class A and Class B; and 54.53% for Class C, Class L, Class M, and Class X. Russell Midcap Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 17.73% for Class A and Class B; and 7.97% for Class C, Class L, Class M, and Class X.
***Russell Midcap Growth Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 33.44% for Class A and Class B; and –15.52% for Class C, Class L, Class M, and Class X. Russell Midcap Growth Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 15.27% for Class A and Class B; and –3.05% for Class C, Class L, Class M, and Class X.
****Lipper Mid-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 31.16% for Class A and Class B; and –6.33% for Class C, Class L, Class M, and Class X. Lipper Mid-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 14.15% for Class A and Class B; and –2.28% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Weatherford International Ltd., Oil Well Services & Equipment | | 2.6 | % |
Lamar Advertising Co., Advertising | | 2.2 | |
Linear Technology Corp., Semiconductors | | 2.2 | |
Fisher Scientific International, Inc., Medical Products | | 2.2 | |
Amphenol Corp., Networking/Telecommunications Equipment | | 2.1 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Mid Cap Value Fund
Fund objective
The investment objective of the Strategic Partners Mid Cap Value Fund is to seek capital growth. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 14.94 | % | | 26.58 | % | | N/A | | | 37.09 | % |
Class B4 | | 14.54 | | | 25.68 | | | N/A | | | 34.91 | |
Class C | | 14.56 | | | 25.66 | | | 68.84 | % | | 158.62 | |
Class L3 | | 14.84 | | | 26.35 | | | 73.12 | | | 168.49 | |
Class M4 | | 14.50 | | | 25.59 | | | 68.85 | | | 158.48 | |
Class X | | 14.94 | | | 26.04 | | | 69.38 | | | 158.77 | |
S&P MidCap 400 Index5 | | 15.26 | | | 28.32 | | | 66.45 | | | * | |
Russell Midcap Index5 | | 14.35 | | | 26.42 | | | 67.35 | | | ** | |
Russell Midcap Value Index5 | | 13.58 | | | 24.75 | | | 89.92 | | | *** | |
Lipper Mid-Cap Value Funds Avg.5 | | 14.08 | | | 23.84 | | | 80.18 | | | **** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 10.53 | % | | N/A | | | 12.70 | % |
Class B4 | | | | | 11.45 | | | N/A | | | 13.39 | |
Class C | | | | | 15.20 | | | 11.81 | % | | 12.95 | |
Class L3 | | | | | 10.03 | | | 11.04 | | | 12.62 | |
Class M4 | | | | | 10.49 | | | 11.55 | | | 12.94 | |
Class X | | | | | 10.81 | | | 11.45 | | | 12.88 | |
S&P MidCap 400 Index5 | | | | | 21.62 | | | 12.75 | | | * | |
Russell Midcap Index5 | | | | | 21.54 | | | 12.52 | | | ** | |
Russell Midcap Value Index5 | | | | | 20.30 | | | 14.69 | | | *** | |
Lipper Mid-Cap Value Funds Avg.5 | | | | | 16.97 | | | 13.37 | | | **** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, Class X, 8/19/98, and Class Z, 11/28/05. Returns for Class Z are not shown since the share class had not existed for at least six months as of April 30, 2006.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P MidCap 400 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 36.20% for Class A and Class B; and 211.56% for Class C, Class L, Class M, and Class X. S&P MidCap 400 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 15.89% for Class A and Class B; and 15.95% for Class C, Class L, Class M, and Class X.
**Russell Midcap Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 39.58% for Class A and Class B; and 650.93% for Class C, Class L, Class M, and Class X. Russell Midcap Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 17.73% for Class A and Class B; and 12.88% for Class C, Class L, Class M, and Class X.
***Russell Midcap Value Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 43.73% for Class A and Class B; and 176.57% for Class C, Class L, Class M, and Class X. Russell Midcap Value Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 19.31% for Class A and Class B; and 14.21% for Class C, Class L, Class M, and Class X.
****Lipper Mid-Cap Value Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 34.22% for Class A and Class B; and 185.28% for Class C, Class L, Class M, and Class X. Lipper Mid-Cap Value Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 14.99% for Class A and Class B; and 14.42% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Arch Coal, Inc., Metals & Mining | | 2.8 | % |
Canadian Natural Resources Ltd., Oil & Gas | | 2.6 | |
Peabody Energy Corp., Utilities | | 2.5 | |
Joy Global, Inc., Machinery & Equipment | | 2.4 | |
TXU Corp., Utilities | | 2.1 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Technology Fund
Fund objective
The investment objective of the Strategic Partners Technology Fund is to seek capital growth by investing primarily in the equity securities of companies engaged in technology-related industries. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 12.64 | % | | 22.35 | % | | N/A | | | 6.85 | % |
Class B4 | | 12.03 | | | 21.14 | | | N/A | | | 4.93 | |
Class C | | 11.94 | | | 21.46 | | | –40.00 | % | | –70.00 | |
Class L3 | | 12.32 | | | 22.05 | | | –38.25 | | | –68.95 | |
Class M4 | | 11.99 | | | 21.55 | | | –40.08 | | | –70.10 | |
Class X | | 12.31 | | | 21.37 | | | –39.80 | | | –69.90 | |
S&P 500 Index5 | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Lipper Science & Technology Funds Avg.5 | | 14.68 | | | 30.49 | | | –14.38 | | | ** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 11.96 | % | | N/A | | | 0.00 | % |
Class B4 | | | | | 12.46 | | | N/A | | | 0.11 | |
Class C | | | | | 16.32 | | | –5.81 | % | | –19.60 | |
Class L3 | | | | | 11.59 | | | –6.41 | | | –19.95 | |
Class M4 | | | | | 11.86 | | | –6.21 | | | –19.94 | |
Class X | | | | | 11.72 | | | –6.27 | | | –19.84 | |
S&P 500 Index5 | | | | | 11.72 | | | 3.97 | | | * | |
Lipper Science & Technology Funds Avg.5 | | | | | 24.31 | | | –0.24 | | | ** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 9/11/00.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and –5.26% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and –1.20% for Class C, Class L, Class M, and Class X.
**Lipper Science & Technology Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 17.22% for Class A and Class B; and –57.10% for Class C, Class L, Class M, and Class X. Lipper Science & Technology Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 8.02% for Class A and Class B; and –15.50% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Corning, Inc., Telecommunications | | 5.0 | % |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR, Semiconductors | | 4.0 | |
QUALCOMM, Inc., Telecommunications | | 3.9 | |
Apple Computer, Inc., Computer Hardware | | 3.7 | |
Yahoo!, Inc., Internet Services | | 3.3 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Managed OTC Fund
Fund objective
The investment objective of the Strategic Partners Managed OTC Fund is to provide investment results that correlate to the performance of a benchmark for securities that are traded in the over-the-counter market. The Fund’s current benchmark is a multiple of the NASDAQ-100 Index. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 8.52 | % | | 22.59 | % | | N/A | | | 12.69 | % |
Class B4 | | 8.40 | | | 21.89 | | | N/A | | | 10.51 | |
Class C | | 8.40 | | | 21.89 | | | –25.65 | % | | –71.60 | |
Class L3 | | 8.58 | | | 22.27 | | | –24.02 | | | –70.90 | |
Class M4 | | 8.37 | | | 21.80 | | | –25.39 | | | –71.50 | |
Class X | | 8.37 | | | 21.80 | | | –25.59 | | | –71.50 | |
NASDAQ-100 Index5 | | 7.70 | | | 19.70 | | | –8.32 | | | * | |
Lipper Multi-Cap Growth Funds Avg.5 | | 11.59 | | | 25.39 | | | 9.80 | | | ** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 10.08 | % | | N/A | | | 3.63 | % |
Class B4 | | | | | 10.39 | | | N/A | | | 3.45 | |
Class C | | | | | 14.39 | | | –1.92 | % | | –20.24 | |
Class L3 | | | | | 9.77 | | | –2.59 | | | –20.74 | |
Class M4 | | | | | 9.79 | | | –2.25 | | | –20.48 | |
Class X | | | | | 9.79 | | | –2.45 | | | –20.48 | |
NASDAQ-100 Index5 | | | | | 14.92 | | | 1.61 | | | * | |
Lipper Multi-Cap Growth Funds Avg.5 | | | | | 20.40 | | | 3.74 | | | ** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 9/11/00.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*NASDAQ-100 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 18.24% for Class A and Class B; and –58.29% for Class C, Class L, Class M, and Class X. NASDAQ–100 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 8.83% for Class A and Class B; and –14.47% for Class C, Class L, Class M, and Class X.
**Lipper Multi-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 24.83% for Class A and Class B; and –25.82% for Class C, Class L, Class M, and Class X. Lipper Multi-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 11.32% for Class A and Class B; and –6.53% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
QUALCOMM, Inc., Telecommunications | | 6.5 | % |
Microsoft Corp., Software | | 5.4 | |
Apple Computer, Inc., Computer | | 5.3 | |
Google, Inc. (Class A Stock), Internet Services | | 3.2 | |
Cisco Systems, Inc., Telecommunications | | 2.9 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Capital Growth Fund
Fund objective
The investment objective of the Strategic Partners Capital Growth Fund is to seek capital growth. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 8.84 | % | | 16.95 | % | | N/A | | | 21.12 | % |
Class B4 | | 8.45 | | | 16.12 | | | N/A | | | 19.25 | |
Class C | | 8.40 | | | 16.08 | | | 19.22 | % | | 58.80 | |
Class L3 | | 8.76 | | | 16.60 | | | 22.21 | | | 65.23 | |
Class M4 | | 8.46 | | | 15.99 | | | 19.12 | | | 58.90 | |
Class X | | 8.40 | | | 16.09 | | | 19.23 | | | 58.70 | |
S&P 500 Index5 | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Russell 1000 Growth Index5 | | 7.06 | | | 15.18 | | | –3.73 | | | ** | |
Lipper Large-Cap Growth Funds Avg.5 | | 7.23 | | | 16.98 | | | –3.85 | | | *** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 9.07 | % | | N/A | | | 7.00 | % |
Class B4 | | | | | 9.55 | | | N/A | | | 7.41 | |
Class C | | | | | 13.51 | | | 4.68 | % | | 6.24 | |
Class L3 | | | | | 8.56 | | | 3.97 | | | 5.97 | |
Class M4 | | | | | 8.57 | | | 4.35 | | | 6.26 | |
Class X | | | | | 8.52 | | | 4.18 | | | 6.15 | |
S&P 500 Index5 | | | | | 11.72 | | | 3.97 | | | * | |
Russell 1000 Growth Index5 | | | | | 13.14 | | | 1.66 | | | ** | |
Lipper Large-Cap Growth Funds Avg.5 | | | | | 14.24 | | | 0.93 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 8/19/98.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and 54.06% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and 5.68% for Class C, Class L, Class M, and Class X.
**Russell 1000 Growth Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 14.30% for Class A and Class B; and 20.92% for Class C, Class L, Class M, and Class X. Russell 1000 Growth Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.98% for Class A and Class B; and 2.56% for Class C, Class L, Class M, and Class X.
***Lipper Large-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 15.79% for Class A and Class B; and 37.97% for Class C, Class L, Class M, and Class X. Lipper Large-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 7.51% for Class A and Class B; and 4.05% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
UnitedHealth Group, Inc., Healthcare Services | | 6.5 | % |
FedEx Corp., Transportation | | 5.4 | |
Genentech, Inc., Pharmaceuticals | | 4.8 | |
UBS AG, ADR (Switzerland), Financial—Bank & Trust | | 4.2 | |
Procter & Gamble Co., Consumer Products & Services | | 4.2 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Concentrated Growth Fund
Fund objective
The investment objective of the Strategic Partners Concentrated Growth Fund is to seek growth of capital. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 11.23 | % | | 19.69 | % | | N/A | | | 11.71 | % |
Class B4 | | 10.93 | | | 18.98 | | | N/A | | | 9.84 | |
Class C | | 10.86 | | | 18.91 | | | –24.18 | % | | 11.39 | |
Class L3 | | 11.21 | | | 19.49 | | | –22.16 | | | 16.62 | |
Class M4 | | 10.82 | | | 18.85 | | | –24.19 | | | 11.69 | |
Class X | | 10.91 | | | 18.94 | | | –24.15 | | | 11.89 | |
S&P 500 Index5 | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Russell 1000 Growth Index5 | | 7.06 | | | 15.18 | | | –3.73 | | | ** | |
Lipper Large-Cap Growth Funds Avg.5 | | 7.23 | | | 16.98 | | | –3.85 | | | *** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 9.56 | % | | N/A | | | 2.31 | % |
Class B4 | | | | | 10.11 | | | N/A | | | 2.39 | |
Class C | | | | | 14.14 | | | –3.10 | % | | 1.15 | |
Class L3 | | | | | 9.06 | | | –3.73 | | | 0.99 | |
Class M4 | | | | | 9.09 | | | –3.48 | | | 1.18 | |
Class X | | | | | 9.18 | | | –3.67 | | | 1.20 | |
S&P 500 Index5 | | | | | 11.72 | | | 3.97 | | | * | |
Russell 1000 Growth Index5 | | | | | 13.14 | | | 1.66 | | | ** | |
Lipper Large-Cap Growth Funds Avg.5 | | | | | 14.24 | | | 0.93 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 7/28/97.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and 57.24% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and 5.20% for Class C, Class L, Class M, and Class X.
**Russell 1000 Growth Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 14.30% for Class A and Class B; and 23.25% for Class C, Class L, Class M, and Class X. Russell 1000 Growth Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.98% for Class A and Class B; and 2.46% for Class C, Class L, Class M, and Class X.
***Lipper Large-Cap Growth Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 15.79% for Class A and Class B; and 35.45% for Class C, Class L, Class M, and Class X. Lipper Large-Cap Growth Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 7.51% for Class A and Class B; and 3.36% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Freddie Mac, Specialty Finance | | 6.4 | % |
McGraw-Hill Cos., Inc., Commercial Services | | 6.1 | |
First Data Corp., Computer Services | | 5.8 | |
Schlumberger Ltd., Oil Well Services & Equipment | | 5.0 | |
Harrah’s Entertainment, Inc., Gaming & Lodging | | 4.0 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Core Value Fund
Fund objective
The investment objective of the Strategic Partners Core Value Fund is to seek long-term capital growth. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | | | |
| | | | | Six Months | | | One Year | | | Five Year | | | Since Inception2 | |
Class A3 | | | | 13.10 | % | | 18.11 | % | | N/A | | | 24.19 | % |
Class B4 | | | | 12.63 | | | 17.18 | | | N/A | | | 22.26 | |
Class C | | | | 12.71 | | | 17.27 | | | 45.72 | % | | 49.95 | |
Class L3 | | | | 13.01 | | | 17.84 | | | 49.18 | | | 53.80 | |
Class M4 | | | | 12.63 | | | 17.18 | | | 45.56 | | | 49.93 | |
Class X | | | | 12.62 | | | 17.17 | | | 45.71 | | | 49.94 | |
S&P 500 Index5 | | | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Russell 1000 Value Index5 | | | | 12.87 | | | 18.30 | | | 42.25 | | | ** | |
Lipper Multi-Cap Value Funds Avg.5 | | | | 11.99 | | | 18.21 | | | 39.19 | | | *** | |
| | | | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | | | |
| | | | | | | | One Year | | | Five Year | | | Since Inception2 | |
Class A3 | | | | | | | 5.64 | % | | N/A | | | 6.74 | % |
Class B4 | | | | | | | 6.06 | | | N/A | | | 7.17 | |
Class C | | | | | | | 10.06 | | | 7.96 | % | | 7.63 | |
Class L3 | | | | | | | 5.22 | | | 7.20 | | | 6.92 | |
Class M4 | | | | | | | 4.98 | | | 7.64 | | | 7.34 | |
Class X | | | | | | | 4.97 | | | 7.51 | | | 7.34 | |
S&P 500 Index5 | | | | | | | 11.72 | | | 3.97 | | | * | |
Russell 1000 Value Index5 | | | | | | | 13.31 | | | 7.79 | | | ** | |
Lipper Multi-Cap Value Funds Avg.5 | | | | | | | 12.99 | | | 7.45 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 3/1/01.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and 15.30% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and 2.57% for Class C, Class L, Class M, and Class X.
**Russell 1000 Value Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 31.48% for Class A and Class B; and 43.95% for Class C, Class L, Class M, and Class X. Russell 1000 Value Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 13.24% for Class A and Class B; and 6.90% for Class C, Class L, Class M, and Class X.
***Lipper Multi-Cap Value Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 26.91% for Class A and Class B; and 41.87% for Class C, Class L, Class M, and Class X. Lipper Multi-Cap Value Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 11.54% for Class A and Class B; and 6.57% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Exxon Mobil Corp., Oil & Gas | | 6.4 | % |
Citigroup, Inc., Financial Services | | 5.0 | |
Bank of America Corp., Financial—Bank & Trust | | 4.0 | |
Pfizer, Inc., Pharmaceuticals | | 2.8 | |
JP Morgan Chase & Co., Financial Services | | 2.6 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Large Cap Core Fund
Fund objective
The investment objective of the Strategic Partners Large Cap Core Fund is to outperform the Standard & Poor’s 500 Composite Stock Price Index (S&P 500 Index) through stock selection, resulting in different weightings of common stocks relative to the Index. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 7.29 | % | | 13.48 | % | | N/A | | | 12.87 | % |
Class B4 | | 6.93 | | | 12.67 | | | N/A | | | 11.15 | |
Class C | | 6.93 | | | 12.80 | | | 6.70 | % | | –1.36 | |
Class L3 | | 7.17 | | | 13.26 | | | 9.26 | | | 1.68 | |
Class M4 | | 7.04 | | | 12.80 | | | 6.70 | | | –1.36 | |
Class X | | 6.95 | | | 12.59 | | | 6.60 | | | –1.66 | |
S&P 500 Index5 | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Russell 1000 Index5 | | 9.92 | | | 16.71 | | | 18.08 | | | ** | |
Lipper Large-Cap Core Funds Avg.5 | | 9.23 | | | 15.51 | | | 7.46 | | | *** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 3.51 | % | | N/A | | | 2.85 | % |
Class B4 | | | | | 3.66 | | | N/A | | | 3.07 | |
Class C | | | | | 7.78 | | | 2.27 | % | | –0.36 | |
Class L3 | | | | | 3.06 | | | 1.56 | | | –0.80 | |
Class M4 | | | | | 2.78 | | | 1.91 | | | –0.51 | |
Class X | | | | | 2.57 | | | 1.68 | | | –0.72 | |
S&P 500 Index5 | | | | | 11.72 | | | 3.97 | | | * | |
Russell 1000 Index5 | | | | | 13.20 | | | 4.74 | | | ** | |
Lipper Large-Cap Core Funds Avg.5 | | | | | 11.63 | | | 2.57 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 11/1/99.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and –6.55% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and 0.78% for Class C, Class L, Class M, and Class X.
**Russell 1000 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 22.85% for Class A and Class B; and 11.85% for Class C, Class L, Class M, and Class X. Russell 1000 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 10.18% for Class A and Class B; and 1.57% for Class C, Class L, Class M, and Class X.
***Lipper Large-Cap Core Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 17.92% for Class A and Class B; and 5.19% for Class C, Class L, Class M, and Class X. Lipper Large-Cap Core Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 7.92% for Class A and Class B; and 0.37% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
General Electric Co., Conglomerates | | 4.0 | % |
Exxon Mobil Corp., Oil & Gas | | 3.7 | |
Citigroup, Inc., Financial Services | | 3.2 | |
Bank of America Corp., Financial—Bank & Trust | | 2.9 | |
Procter & Gamble Co., Consumer Products & Services | | 2.6 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Equity Income Fund
Fund objective
The investment objective of the Strategic Partners Equity Income Fund is long-term growth of capital and income while attempting to avoid excessive fluctuations in market value. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 10.15 | % | | 14.23 | % | | N/A | | | 17.14 | % |
Class B4 | | 9.78 | | | 13.20 | | | N/A | | | 15.04 | |
Class C | | 9.80 | | | 13.22 | | | 10.64 | % | | 59.64 | |
Class L3 | | 10.05 | | | 13.75 | | | 13.41 | | | 66.19 | |
Class M4 | | 9.71 | | | 13.20 | | | 10.63 | | | 59.85 | |
Class X | | 9.73 | | | 13.15 | | | 10.65 | | | 59.54 | |
S&P 500 Index5 | | 9.63 | | | 15.41 | | | 14.22 | | | * | |
Russell 1000 Value Index5 | | 12.87 | | | 18.30 | | | 42.25 | | | ** | |
Lipper Large-Cap Core Funds Avg.5 | | 9.23 | | | 15.51 | | | 7.46 | | | *** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 3.71 | % | | N/A | | | 4.23 | % |
Class B4 | | | | | 3.77 | | | N/A | | | 4.38 | |
Class C | | | | | 7.71 | | | 3.46 | % | | 5.58 | |
Class L3 | | | | | 3.04 | | | 2.76 | | | 5.34 | |
Class M4 | | | | | 2.77 | | | 3.12 | | | 5.60 | |
Class X | | | | | 2.79 | | | 2.95 | | | 5.58 | |
S&P 500 Index5 | | | | | 11.72 | | | 3.97 | | | * | |
Russell 1000 Value Index5 | | | | | 13.31 | | | 7.79 | | | ** | |
Lipper Large-Cap Core Funds Avg.5 | | | | | 11.63 | | | 2.57 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 12/31/97.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*S&P 500 Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 20.79% for Class A and Class B; and 53.52% for Class C, Class L, Class M, and Class X. S&P 500 Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 9.17% for Class A and Class B; and 5.16% for Class C, Class L, Class M, and Class X.
**Russell 1000 Value Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 31.48% for Class A and Class B; and 86.61% for Class C, Class L, Class M, and Class X. Russell 1000 Value Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 13.24% for Class A and Class B; and 7.53% for Class C, Class L, Class M, and Class X.
***Lipper Large-Cap Core Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 17.92% for Class A and Class B; and 42.51% for Class C, Class L, Class M, and Class X. Lipper Large-Cap Core Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 7.92% for Class A and Class B; and 4.02% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
JP Morgan Chase & Co., Financial Services | | 4.0 | % |
Microsoft Corp., Computer Services & Software | | 3.4 | |
General Electric Co., Utilities | | 3.1 | |
Bank of America Corp., Financial—Bank & Trust | | 2.8 | |
American International Group, Inc., Insurance | | 2.8 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners Balanced Fund
Fund objective
The investment objective of the Strategic Partners Balanced Fund is to seek capital growth and current income. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 5.95 | % | | 9.33 | % | | N/A | | | 13.41 | % |
Class B4 | | 5.64 | | | 8.62 | | | N/A | | | 11.91 | |
Class C | | 5.65 | | | 8.63 | | | 16.44 | % | | 49.19 | |
Class L3 | | 5.90 | | | 9.07 | | | 19.34 | | | 56.05 | |
Class M4 | | 5.57 | | | 8.55 | | | 16.44 | | | 49.19 | |
Class X | | 5.57 | | | 8.55 | | | 16.45 | | | 49.08 | |
Blended Index5 | | 5.76 | | | 9.15 | | | 21.98 | | | * | |
Lipper Mix-Asset Target Allocation Moderate Funds Avg.5 | | 7.30 | | | 11.27 | | | 23.21 | | | ** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 1.09 | % | | N/A | | | 3.13 | % |
Class B4 | | | | | 1.19 | | | N/A | | | 3.47 | |
Class C | | | | | 5.28 | | | 3.99 | % | | 4.63 | |
Class L3 | | | | | 0.55 | | | 3.27 | | | 4.44 | |
Class M4 | | | | | 0.28 | | | 3.64 | | | 4.63 | |
Class X | | | | | 0.20 | | | 3.45 | | | 4.62 | |
Blended Index5 | | | | | 7.83 | | | 4.80 | | | * | |
Lipper Balanced Funds Avg.5 | | | | | 9.48 | | | 4.42 | | | ** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 5.50% and 5.75%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and/or expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 7/28/97.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*Blended Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 13.16% for Class A and Class B; and 65.24% for Class C, Class L, Class M, and Class X. Blended Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.01% for Class A and Class B; and 5.88% for Class C, Class L, Class M, and Class X.
**Lipper Mix-Asset Target Allocation Moderate Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 15.16% for Class A and Class B; and 54.48% for Class C, Class L, Class M, and Class X. Lipper Balanced Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.80% for Class A and Class B; and 5.11% for Class C, Class L, Class M, and Class X. Lipper Inc. reclassified the Fund from the Lipper Balanced Funds Average into the Lipper Mixed-Asset Target Allocation Moderate Funds Average on April 18, 2006.
| | | |
| Five Largest Holdings expressed as a percentage of net assets as of 4/30/06 | | | |
Exxon Mobil Corp., Oil & Gas | | 2.8 | % |
International Business Machines Corp., Computer Hardware | | 1.6 | |
Boeing Co., Aerospace | | 1.3 | |
Goldman Sachs Group, Inc., Financial Services | | 1.3 | |
Hewlett-Packard Co., Computer Hardware | | 1.3 | |
Holdings reflect only long-term investments and are subject to change.
Your Fund’s Performance
Strategic Partners High Yield Bond Fund
Fund objective
The investment objective of the Strategic Partners High Yield Bond Fund is to seek a high level of current income and may also consider the potential for capital appreciation. There can be no assurance that the Fund will achieve its investment objective.
Performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance data quoted. An investor may obtain performance data as of the most recent month-end by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. Class A and Class L shares have a maximum initial sales charge of 4.50% and 4.25%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans).
| | | | | | | | | | | | |
| Cumulative Total Returns1 as of 4/30/06 | | | | | | | | | | | | |
| | | Six Months | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | 5.71 | % | | 8.27 | % | | N/A | | | 13.97 | % |
Class B4 | | 5.18 | | | 7.47 | | | N/A | | | 12.25 | |
Class C | | 5.33 | | | 7.47 | | | 37.17 | % | | 39.41 | |
Class L3 | | 5.44 | | | 8.00 | | | 40.60 | | | 45.63 | |
Class M4 | | 5.18 | | | 7.32 | | | 36.99 | | | 39.28 | |
Class X | | 5.17 | | | 7.45 | | | 37.14 | | | 39.34 | |
Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index5 | | 5.00 | | | 8.88 | | | 51.89 | | | * | |
Lehman Brothers U.S. Corporate High Yield Index5 | | 4.95 | | | 9.15 | | | 50.63 | | | ** | |
Lipper High Current Yield Funds Avg.5 | | 5.10 | | | 8.78 | | | 42.49 | | | *** | |
| | | | | | | | | | | | | |
| Average Annual Total Returns1 as of 3/31/06 | | | | | | | | | | | | |
| | | | | | One Year | | | Five Years | | | Since Inception2 | |
Class A3 | | | | | 1.31 | % | | N/A | | | 4.16 | % |
Class B4 | | | | | 0.43 | | | N/A | | | 3.95 | |
Class C | | | | | 4.37 | | | 6.20 | % | | 3.86 | |
Class L3 | | | | | 1.31 | | | 5.79 | | | 3.87 | |
Class M4 | | | | | –0.55 | | | 5.88 | | | 3.85 | |
Class X | | | | | –0.57 | | | 5.73 | | | 3.86 | |
Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index5 | | | | | 7.15 | | | 8.32 | | | * | |
Lehman Brothers U.S. Corporate High Yield Index5 | | | | | 7.43 | | | 8.13 | | | ** | |
Lipper High Current Yield Funds Avg.5 | | | | | 6.77 | | | 6.92 | | | *** | |
The cumulative total returns do not reflect the deduction of applicable sales charges. If reflected, the applicable sales charges would reduce the cumulative total return performance quoted. Class A and Class L shares are subject to a maximum front-end sales charge of 4.50% and 4.25%, respectively. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M and Class X shares are also closed to most new purchases (with the exception of reinvested dividends). Class L, Class M, and Class X shares are exchangeable only with Class L, Class M, and Class X shares, respectively, offered by the other Strategic Partners Funds. Under certain circumstances, Class A and Class L shares may be subject to a contingent deferred sales charge (CDSC) of 1%. Class B, Class C, Class M, and Class X shares are subject to a maximum CDSC of 5%, 1%, 6%, and 6%, respectively.
1Source: Prudential Investments LLC and Lipper Inc. The average annual total returns do take into account applicable sales charges. The returns in the tables do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares. During certain periods shown, fee waivers and/or expense reimbursements were in effect. Without such fee waivers and expense reimbursements, the returns for the share classes would have been lower. Without a distribution and service (12b-1) fee waiver of 0.05% for Class A shares, the returns would have been lower. Class A shares are subject to a 12b-1 fee of up to 0.30% annually. Class B, Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1.00%. Class L shares are subject to a 12b-1 fee of 0.50%.
2Inception dates: Class A and Class B, 4/12/04; Class C, Class L, Class M, and Class X, 7/28/97.
3Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened.
4Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened.
5See page 1 for a summary of definitions for the Fund’s benchmarks.
*Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 15.17% for Class A and Class B; and 62.92% for Class C, Class L, Class M, and Class X. Lehman Brothers U.S. Corporate High Yield 2% Issuer Capped Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.98% for Class A and Class B; and 5.72% for Class C, Class L, Class M, and Class X.
**Lehman Brothers U.S. Corporate High Yield Index Closest Month-End to Inception cumulative total returns as of 4/30/06 are 15.48% for Class A and Class B; and 61.13% for Class C, Class L, Class M, and Class X. Lehman Brothers U.S. Corporate High Yield Index Closest Month-End to Inception average annual total returns as of 3/31/06 are 7.13% for Class A and Class B; and 5.58% for Class C, Class L, Class M, and Class X.
***Lipper High Current Yield Funds Average Closest Month-End to Inception cumulative total returns as of 4/30/06 are 14.36% for Class A and Class B; and 43.45% for Class C, Class L, Class M, and Class X. Lipper High Current Yield Funds Average Closest Month-End to Inception average annual total returns as of 3/31/06 are 6.56% for Class A and Class B; and 4.01% for Class C, Class L, Class M, and Class X.
| | | |
| Five Largest Issues expressed as a percentage of net assets as of 4/30/06 | | | |
TRAINS, 7.65%, 06/15/15, Financial Services | | 2.2 | % |
Midwest Generation LLC, 8.75%, 05/01/34, Utilities—Electric | | 1.3 | |
Wind Acquisition Finance SA, 10.75%, 12/01/15, Telecommunications—Cellular | | 1.1 | |
NRG Energy, Inc., 7.375%, 7.375%, 02/01/16, Utilities—Electric | | 1.0 | |
MGM Mirage, Inc., 8.375%, 02/01/11, Gaming | | 1.0 | |
Issues are subject to change.
Your Fund’s Performance
Strategic Partners Money Market Fund
Fund objective
The investment objectives of the Strategic Partners Money Market Fund are to seek high current income and maintain high levels of liquidity. There can be no assurance that the Fund will achieve its investment objectives.
Yields will fluctuate from time to time, and past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the Fund.
| | | | | | | | | | | | | | | |
| Fund Facts as of 4/30/06* | | | | | | | | | | | | | | |
| | | Six Months
Total Return | | | 7-Day
Current Yield | | | Net Asset
Value
(NAV) | | Weighted
Avg. Maturity
(WAM) | | | Net
Assets
(Millions) | |
Class A | | 1.60 | % | | 3.55 | % | | $ | 1.00 | | 50 | Days | | $31 | *** |
Class C | | 1.23 | | | 2.80 | | | | 1.00 | | 50 | | | 9 | |
Class D | | 1.48 | | | 3.30 | | | | 1.00 | | 50 | | | 11 | |
Class L | | 1.48 | | | 3.30 | | | | 1.00 | | 50 | | | 15 | |
Class M | | 1.23 | | | 2.80 | | | | 1.00 | | 50 | | | 45 | |
Class X | | 1.23 | | | 2.81 | | | | 1.00 | | 50 | | | 11 | |
Lipper Money Market Instrument Funds Avg.1 | | 1.74 | | | N/A | | | | N/A | | N/A | | | N/A | |
Source: Prudential Investments LLC and Lipper Inc. The six-month total return in the table does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or following the redemption of Fund shares.
1See page 1 for a summary of definitions for the Fund’s benchmark.
*Class D and Class L shares are subject to a distribution and service (12b-1) fee of 0.50%. Class C, Class M, and Class X shares are subject to a 12b-1 fee of 1%. Class A shares are subject to a 12b-1 fee of 0.125%.
***(Thousands)
Fees and Expenses (Unaudited)
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemptions, as applicable, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses, as applicable. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested on November 1, 2005, at the beginning of the period, and held through the six-month period ended April 30, 2006.
The Fund’s transfer agent may charge additional fees to holders of certain accounts that are not included in the expenses shown in the table on the following page. These fees apply to Individual Retirement Accounts (IRAs) and Section 403(b) accounts. As of the close of the six-month period covered by the table, IRA fees included an annual maintenance fee of $15 per account (subject to a maximum annual maintenance fee of $25 for all accounts held by the same shareholder). Section 403(b) accounts are charged an annual $25 fiduciary maintenance fee. Some of the fees may vary in amount, or may be waived, based on your total account balance or the number of JennisonDryden or Strategic Partners Funds, including the Fund, that you own. You should consider the additional fees that were charged to your Fund account over the six-month period when you estimate the total ongoing expenses paid over the period and the impact of these fees on your ending account value, as these additional expenses are not reflected in the information provided in the expense table. Additional fees have the effect of reducing investment returns.
Actual Expenses
The first line for each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number on the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line for each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Fees and Expenses (continued)
Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs such as sales charges (loads). Therefore the second line for each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | | | | | | | | | | | | | |
Strategic Partners
International Growth Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,245.60 | | 1.86 | % | | $ | 10.36 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,015.57 | | 1.86 | % | | $ | 9.30 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,240.80 | | 2.61 | % | | $ | 14.50 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,011.85 | | 2.61 | % | | $ | 13.02 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,241.70 | | 2.61 | % | | $ | 14.51 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,011.85 | | 2.61 | % | | $ | 13.02 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,244.00 | | 2.11 | % | | $ | 11.74 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.33 | | 2.11 | % | | $ | 10.54 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,240.80 | | 2.61 | % | | $ | 14.50 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,011.85 | | 2.61 | % | | $ | 13.02 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,240.60 | | 2.61 | % | | $ | 14.50 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,011.85 | | 2.61 | % | | $ | 13.02 |
| | | | | | | | | | | | | | |
Strategic Partners
Small Cap
Growth Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,160.50 | | 1.55 | % | | $ | 8.30 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.11 | | 1.55 | % | | $ | 7.75 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,155.90 | | 2.30 | % | | $ | 12.29 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.39 | | 2.30 | % | | $ | 11.48 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,156.60 | | 2.30 | % | | $ | 12.30 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.39 | | 2.30 | % | | $ | 11.48 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,159.80 | | 1.80 | % | | $ | 9.64 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,015.87 | | 1.80 | % | | $ | 9.00 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,156.60 | | 2.30 | % | | $ | 12.30 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.39 | | 2.30 | % | | $ | 11.48 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,156.30 | | 2.30 | % | | $ | 12.30 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.39 | | 2.30 | % | | $ | 11.48 |
| | | | | | | | | | | | | | |
Strategic Partners
Mid Cap Growth Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,118.80 | | 1.65 | % | | $ | 8.67 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.61 | | 1.65 | % | | $ | 8.25 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,115.30 | | 2.40 | % | | $ | 12.59 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,113.60 | | 2.40 | % | | $ | 12.58 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,117.40 | | 1.90 | % | | $ | 9.97 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,015.37 | | 1.90 | % | | $ | 9.49 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,113.30 | | 2.40 | % | | $ | 12.58 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,113.60 | | 2.40 | % | | $ | 12.58 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | |
Strategic Partners
Mid Cap Value Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,149.40 | | 1.47 | % | | $ | 7.83 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.50 | | 1.47 | % | | $ | 7.35 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,145.40 | | 2.22 | % | | $ | 11.81 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.79 | | 2.22 | % | | $ | 11.08 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,145.60 | | 2.22 | % | | $ | 11.81 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.79 | | 2.22 | % | | $ | 11.08 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,148.40 | | 1.72 | % | | $ | 9.16 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.27 | | 1.72 | % | | $ | 8.60 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,145.00 | | 2.22 | % | | $ | 11.81 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.79 | | 2.22 | % | | $ | 11.08 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,148.40 | | 1.56 | % | | $ | 8.31 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.27 | | 1.56 | % | | $ | 7.80 |
| | | | | | | | | | | | | | | |
| Class Z** | | Actual | | $ | 1,000.00 | | $ | 1,097.20 | | 1.22 | % | | $ | 5.50 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,018.74 | | 1.22 | % | | $ | 6.11 |
Fees and Expenses (continued)
| | | | | | | | | | | | | | |
Strategic Partners
Technology Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,126.40 | | 1.65 | % | | $ | 8.70 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.61 | | 1.65 | % | | $ | 8.25 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,120.30 | | 2.40 | % | | $ | 12.62 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,119.40 | | 2.40 | % | | $ | 12.61 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,123.20 | | 1.90 | % | | $ | 10.00 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,015.37 | | 1.90 | % | | $ | 9.49 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,119.90 | | 2.40 | % | | $ | 12.61 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,123.10 | | 2.40 | % | | $ | 12.63 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,012.89 | | 2.40 | % | | $ | 11.98 |
| | | | | | | | | | | | | | |
Strategic Partners
Managed OTC Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,085.20 | | 1.50 | % | | $ | 7.76 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.36 | | 1.50 | % | | $ | 7.50 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,084.00 | | 2.25 | % | | $ | 11.63 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.64 | | 2.25 | % | | $ | 11.23 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,084.00 | | 2.25 | % | | $ | 11.63 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.64 | | 2.25 | % | | $ | 11.23 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,085.80 | | 1.75 | % | | $ | 9.05 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.12 | | 1.75 | % | | $ | 8.75 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,083.70 | | 2.25 | % | | $ | 11.62 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.64 | | 2.25 | % | | $ | 11.23 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,083.70 | | 2.25 | % | | $ | 11.62 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.64 | | 2.25 | % | | $ | 11.23 |
| | | | | | | | | | | | | | |
Strategic Partners
Capital Growth Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,088.40 | | 1.48 | % | | $ | 7.66 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.46 | | 1.48 | % | | $ | 7.40 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,084.50 | | 2.23 | % | | $ | 11.53 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.74 | | 2.23 | % | | $ | 11.13 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,084.00 | | 2.23 | % | | $ | 11.52 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.74 | | 2.23 | % | | $ | 11.13 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,086.90 | | 1.73 | % | | $ | 8.95 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.22 | | 1.73 | % | | $ | 8.65 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,083.90 | | 2.23 | % | | $ | 11.52 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.74 | | 2.23 | % | | $ | 11.13 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,084.00 | | 2.23 | % | | $ | 11.52 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.74 | | 2.23 | % | | $ | 11.13 |
| | | | | | | | | | | | | | |
Strategic Partners
Concentrated Growth Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,112.30 | | 1.51 | % | | $ | 7.91 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.31 | | 1.51 | % | | $ | 7.55 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,109.40 | | 2.26 | % | | $ | 11.82 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.59 | | 2.26 | % | | $ | 11.28 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,108.60 | | 2.26 | % | | $ | 11.82 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.59 | | 2.26 | % | | $ | 11.28 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,112.10 | | 1.76 | % | | $ | 9.22 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.07 | | 1.76 | % | | $ | 8.80 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,108.20 | | 2.26 | % | | $ | 11.81 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.59 | | 2.26 | % | | $ | 11.28 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,109.10 | | 2.26 | % | | $ | 11.82 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.59 | | 2.26 | % | | $ | 11.28 |
Fees and Expenses (continued)
| | | | | | | | | | | | | | |
Strategic Partners
Core Value Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,131.00 | | 1.45 | % | | $ | 7.66 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.60 | | 1.45 | % | | $ | 7.25 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,126.30 | | 2.20 | % | | $ | 11.60 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.88 | | 2.20 | % | | $ | 10.99 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,127.10 | | 2.20 | % | | $ | 11.60 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.88 | | 2.20 | % | | $ | 10.99 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,130.10 | | 1.70 | % | | $ | 8.98 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.36 | | 1.70 | % | | $ | 8.50 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,126.30 | | 2.20 | % | | $ | 11.60 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.88 | | 2.20 | % | | $ | 10.99 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,126.20 | | 2.20 | % | | $ | 11.60 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,013.88 | | 2.20 | % | | $ | 10.99 |
| | | | | | | | | | | | | | |
Strategic Partners
Large Cap Core Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,072.90 | | 1.25 | % | | $ | 6.42 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,018.60 | | 1.25 | % | | $ | 6.26 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,069.30 | | 2.00 | % | | $ | 10.26 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.88 | | 2.00 | % | | $ | 9.99 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,069.30 | | 2.00 | % | | $ | 10.26 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.88 | | 2.00 | % | | $ | 9.99 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,071.70 | | 1.50 | % | | $ | 7.71 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.36 | | 1.50 | % | | $ | 7.50 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,070.40 | | 2.00 | % | | $ | 10.27 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.88 | | 2.00 | % | | $ | 9.99 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,069.50 | | 2.00 | % | | $ | 10.26 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.88 | | 2.00 | % | | $ | 9.99 |
| | | | | | | | | | | | | | |
Strategic Partners
Equity Income Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,101.50 | | 1.42 | % | | $ | 7.40 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.75 | | 1.42 | % | | $ | 7.10 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,097.10 | | 2.17 | % | | $ | 11.28 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.03 | | 2.17 | % | | $ | 10.84 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,098.00 | | 2.17 | % | | $ | 11.29 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.03 | | 2.17 | % | | $ | 10.84 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,100.70 | | 1.67 | % | | $ | 8.70 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.51 | | 1.67 | % | | $ | 8.35 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,097.10 | | 2.17 | % | | $ | 11.28 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.03 | | 2.17 | % | | $ | 10.84 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,097.30 | | 2.17 | % | | $ | 11.28 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.03 | | 2.17 | % | | $ | 10.84 |
| | | | | | | | | | | | | | |
Strategic Partners
Balanced Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,059.50 | | 1.41 | % | | $ | 7.20 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.86 | | 1.41 | % | | $ | 7.05 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,056.40 | | 2.16 | % | | $ | 11.01 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.08 | | 2.16 | % | | $ | 10.79 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,056.50 | | 2.16 | % | | $ | 11.01 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.08 | | 2.16 | % | | $ | 10.79 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,059.00 | | 1.66 | % | | $ | 8.47 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,016.56 | | 1.66 | % | | $ | 8.30 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,055.70 | | 2.16 | % | | $ | 11.01 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.08 | | 2.16 | % | | $ | 10.79 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,055.70 | | 2.16 | % | | $ | 11.01 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.08 | | 2.16 | % | | $ | 10.79 |
Fees and Expenses (continued)
| | | | | | | | | | | | | | |
Strategic Partners
High Yield Bond Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,057.10 | | 1.26 | % | | $ | 6.43 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,018.55 | | 1.26 | % | | $ | 6.31 |
| | | | | | | | | | | | | | | |
| Class B | | Actual | | $ | 1,000.00 | | $ | 1,051.80 | | 2.01 | % | | $ | 10.23 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,053.30 | | 2.01 | % | | $ | 10.23 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,054.40 | | 1.51 | % | | $ | 7.69 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.31 | | 1.51 | % | | $ | 7.55 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,051.80 | | 2.01 | % | | $ | 10.23 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,051.70 | | 2.01 | % | | $ | 10.23 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | |
Strategic Partners
Money Market Fund | | Beginning Account
Value
November 1, 2005 | | Ending Account
Value
April 30, 2006 | | Annualized
Expense Ratio
Based on the
Six-Month Period | | | Expenses Paid
During the Six-
Month Period* |
| | | | | | | | | | | | | | | |
| Class A | | Actual | | $ | 1,000.00 | | $ | 1,016.00 | | 1.14 | % | | $ | 5.70 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,019.14 | | 1.14 | % | | $ | 5.71 |
| | | | | | | | | | | | | | | |
| Class C | | Actual | | $ | 1,000.00 | | $ | 1,012.30 | | 2.01 | % | | $ | 10.03 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | | |
| Class D | | Actual | | $ | 1,000.00 | | $ | 1,014.80 | | 1.51 | % | | $ | 7.54 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.31 | | 1.51 | % | | $ | 7.55 |
| | | | | | | | | | | | | | | |
| Class L | | Actual | | $ | 1,000.00 | | $ | 1,014.80 | | 1.51 | % | | $ | 7.54 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,017.31 | | 1.51 | % | | $ | 7.55 |
| | | | | | | | | | | | | | | |
| Class M | | Actual | | $ | 1,000.00 | | $ | 1,012.30 | | 2.01 | % | | $ | 10.03 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
| | | | | | | | | | | | | | | |
| Class X | | Actual | | $ | 1,000.00 | | $ | 1,012.30 | | 2.01 | % | | $ | 10.03 |
| | | Hypothetical | | $ | 1,000.00 | | $ | 1,014.83 | | 2.01 | % | | $ | 10.04 |
* Fund expenses (net of fee waivers or subsidies, if any) for each share class are equal to the annualized expense ratio for each share class (provided in the table), multiplied by the average account value over the period, multiplied by the 181 days in the six-month period ended April 30, 2006, and divided by the 365 days in the Fund’s fiscal year ending October 31, 2006 (to reflect the six-month period) with the exception of the Strategic Partners Mid Cap Value Class Z “Actual” information, which reflects the 157-day period ended April 30, 2006, due to its inception date of November 25, 2005.
** Class Z shares commenced operations on November 25, 2005.
Strategic Partners International Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 98.8% | | | | | |
Common Stocks — 97.9% | | | | | |
Australia — 2.3% | | | | | |
BHP Billiton Ltd. | | 152,000 | | $ | 3,383,629 |
Macquarie Bank Ltd. | | 48,949 | | | 2,655,300 |
Sigma Pharmaceuticals Ltd. | | 217,539 | | | 446,243 |
| | | | |
|
|
| | | | | | 6,485,172 |
| | | | |
|
|
Austria — 1.0% | | | | | |
Erste Bank der Oesterreichischen Sparkassen AG | | 24,956 | | | 1,514,412 |
Raiffeisen International Bank Holding AG * | | 15,200 | | | 1,324,899 |
| | | | |
|
|
| | | | | | 2,839,311 |
| | | | |
|
|
Brazil — 1.9% | | | | | |
Companhia de Concessoes Rodviarias (CCR) | | 72,400 | | | 633,457 |
Gol-Linhas Aereas Inteligentes SA (a) | | 22,000 | | | 815,540 |
Localiza Rent A Car SA | | 18,900 | | | 394,844 |
Natura Cosmeticos SA | | 57,400 | | | 729,945 |
Petroleo Brasileiro SA | | 125,800 | | | 2,792,676 |
| | | | |
|
|
| | | | | | 5,366,462 |
| | | | |
|
|
Canada — 4.3% | | | | | |
Canadian National Railway Co. | | 141,000 | | | 6,322,016 |
Manulife Financial Corp. | | 66,100 | | | 4,315,818 |
Shoppers Drug Mart Corp. | | 30,500 | | | 1,208,488 |
| | | | |
|
|
| | | | | | 11,846,322 |
| | | | |
|
|
China — 0.6% | | | | | |
Foxconn International Holding Ltd. * | | 810,000 | | | 1,744,676 |
| | | | |
|
|
Columbia — 0.4% | | | | | |
Bancolombia SA, ADR | | 32,300 | | | 1,117,580 |
| | | | |
|
|
France — 10.0% | | | | | |
BNP Paribas | | 41,800 | | | 3,949,864 |
BNP Paribas * | | 4,320 | | | 394,318 |
Dassault Systemes SA | | 26,700 | | | 1,448,451 |
Essilor International SA | | 28,100 | | | 2,818,366 |
Eurazeo | | 11,800 | | | 1,426,915 |
Hermes International | | 360 | | | 92,380 |
Iliad SA | | 8,000 | | | 822,568 |
L’Oreal SA | | 84,400 | | | 7,826,251 |
LVMH Moet Hennessy Louis Vuitton SA | | 39,600 | | | 4,169,131 |
Technip SA | | 33,600 | | | 2,121,619 |
Vinci SA | | 28,400 | | | 2,821,583 |
| | | | |
|
|
| | | | | | 27,891,446 |
| | | | |
|
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Germany — 9.4% | | | | | |
Bijou Brigitte AG | | 2,500 | | $ | 717,539 |
Celesio AG | | 23,300 | | | 2,192,900 |
Continental AG | | 25,110 | | | 2,989,542 |
E.ON AG * | | 38,200 | | | 4,652,107 |
Qiagen NV * | | 88,000 | | | 1,311,163 |
SAP AG | | 37,400 | | | 8,172,285 |
Siemens AG | | 66,200 | | | 6,263,877 |
| | | | |
|
|
| | | | | | 26,299,413 |
| | | | |
|
|
Greece — 1.9% | | | | | |
Coca-Cola Hellenic Bottling Co. SA | | 64,800 | | | 2,123,920 |
EFG Eurobank Ergasias SA | | 38,140 | | | 1,519,556 |
National Bank of Greece SA * | | 31,700 | | | 1,574,122 |
| | | | |
|
|
| | | | | | 5,217,598 |
| | | | |
|
|
Hong Kong — 1.7% | | | | | |
China Life Insurance Co. Ltd. * | | 942,000 | | | 1,269,640 |
Esprit Holdings Ltd. | | 175,200 | | | 1,398,744 |
Li & Fung Ltd. | | 925,000 | | | 2,195,194 |
| | | | |
|
|
| | | | | | 4,863,578 |
| | | | |
|
|
India — 2.1% | | | | | |
Bharat Heavy Electricals Ltd. | | 32,600 | | | 1,701,735 |
Bharti Televentures * | | 116,800 | | | 1,055,362 |
HDFC Bank Ltd. | | 89,200 | | | 1,623,778 |
Housing Development Finance Corp. Ltd. | | 50,100 | | | 1,450,166 |
| | | | |
|
|
| | | | | | 5,831,041 |
| | | | |
|
|
Ireland — 1.6% | | | | | |
Anglo Irish Bank Corp. PLC | | 166,384 | | | 2,741,262 |
Ryanair Holdings PLC, ADR *(a) | | 35,500 | | | 1,671,340 |
| | | | |
|
|
| | | | | | 4,412,602 |
| | | | |
|
|
Israel — 1.1% | | | | | |
Teva Pharmaceutical Industries Ltd., ADR | | 79,000 | | | 3,199,500 |
| | | | |
|
|
Italy — 3.0% | | | | | |
Luxottica Group SpA | | 163,800 | | | 4,872,835 |
Saipem SpA | | 142,400 | | | 3,560,719 |
| | | | |
|
|
| | | | | | 8,433,554 |
| | | | |
|
|
Japan — 20.1% | | | | | |
Aeon Credit Service Co. Ltd. | | 40,700 | | | 1,125,939 |
Aeon Mall Co. Ltd. | | 29,200 | | | 1,461,731 |
Chiyoda Corp. | | 61,000 | | | 1,371,449 |
Denso Corp. | | 130,800 | | | 5,134,818 |
Honeys Co., Ltd. | | 18,700 | | | 1,018,223 |
Hoya Corp. | | 72,000 | | | 2,915,031 |
39
Strategic Partners International Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
JSR Corp. | | 56,000 | | $ | 1,726,255 |
Keyence Corp. | | 11,690 | | | 3,067,643 |
KK DaVinci Advisors * | | 409 | | | 456,181 |
Komatsu Ltd. | | 172,000 | | | 3,678,215 |
Misumi Corp. | | 40,200 | | | 884,389 |
Mitsubishi UFG Financial Group, Inc. | | 438 | | | 6,885,522 |
NEOMAX Co. Ltd. | | 16,000 | | | 459,491 |
Nitto Denko Corp. | | 28,100 | | | 2,356,782 |
ORIX Corp. | | 25,100 | | | 7,538,928 |
Point, Inc. | | 11,900 | | | 842,348 |
Ryohin Keikaku Co. Ltd. | | 11,600 | | | 1,041,163 |
Sharp Corp. | | 274,400 | | | 4,817,333 |
Shimamura Co. Ltd. | | 5,100 | | | 628,850 |
Toyota Motor Corp. | | 100,400 | | | 5,872,428 |
United Arrows Ltd. | | 30,600 | | | 784,719 |
Yamada Denki Co. Ltd. | | 16,900 | | | 1,841,909 |
| | | | |
|
|
| | | | | | 55,909,347 |
| | | | |
|
|
Malaysia — 0.4% | | | | | |
Bumiputra - Commerce Holdings BHD | | 608,700 | | | 1,057,879 |
| | | | |
|
|
Mexico — 1.6% | | | | | |
America Movil SA de CV | | 980,300 | | | 1,808,694 |
Wal-Mart de Mexico SA de CV | | 929,900 | | | 2,650,856 |
| | | | |
|
|
| | | | | | 4,459,550 |
| | | | |
|
|
Netherlands — 0.5% | | | | | |
TomTom NV * | | 30,600 | | | 1,381,293 |
| | | | |
|
|
Norway — 2.4% | | | | | |
Statoil ASA * | | 203,750 | | | 6,708,825 |
| | | | |
|
|
Singapore — 1.0% | | | | | |
CapitaLand Ltd. | | 941,000 | | | 2,916,630 |
| | | | |
|
|
South Africa — 1.9% | | | | | |
MTN Group Ltd. | | 130,500 | | | 1,302,287 |
Naspers Ltd. | | 65,900 | | | 1,446,786 |
Sasol Ltd. * | | 59,800 | | | 2,516,324 |
| | | | |
|
|
| | | | | | 5,265,397 |
| | | | |
|
|
South Korea — 1.7% | | | | | |
Kookmin Bank * | | 17,410 | | | 1,559,738 |
Samsung Electronics Co. Ltd. | | 2,970 | | | 2,027,863 |
Shinsegae Co. Ltd. | | 2,300 | | | 1,124,152 |
| | | | |
|
|
| | | | | | 4,711,753 |
| | | | |
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Spain — 2.0% | | | | | |
Grupo Ferrovial SA | | 17,800 | | $ | 1,460,802 |
Industria de Diseno Textil SA | | 104,000 | | | 4,231,429 |
| | | | |
|
|
| | | | | | 5,692,231 |
| | | | |
|
|
Sweden — 1.6% | | | | | |
Capio AB * | | 31,100 | | | 612,779 |
Ericsson, (L.M.) Telefonaktiebolaget (Class B Stock) * | | 777,800 | | | 2,769,137 |
Modern Times Group AB (Class B Stock) | | 17,000 | | | 933,266 |
| | | | |
|
|
| | | | | | 4,315,182 |
| | | | |
|
|
Switzerland — 9.2% | | | | | |
EFG International * | | 33,100 | | | 987,502 |
Kuehne & Nagel International AG * | | 2,600 | | | 942,872 |
Nobel Biocare Holding AG * | | 5,500 | | | 1,359,257 |
Phonak Holding AG | | 16,600 | | | 1,030,640 |
Roche Holding AG | | 56,400 | | | 8,672,376 |
SGS SA * | | 2,050 | | | 2,028,181 |
Synthes, Inc. | | 24,200 | | | 3,004,999 |
UBS AG | | 63,560 | | | 7,533,720 |
| | | | |
|
|
| | | | | | 25,559,547 |
| | | | |
|
|
Taiwan — 1.7% | | | | | |
High Tech Computer Corp. | | 68,000 | | | 2,173,886 |
Himax Technologies, Inc., ADR | | 27,600 | | | 245,640 |
HON HAI Precision Industry Co. Ltd. | | 325,165 | | | 2,206,424 |
| | | | |
|
|
| | | | | | 4,625,950 |
| | | | |
|
|
United Kingdom — 12.5% | | | | | |
BG Group PLC | | 604,970 | | | 8,130,546 |
Cairn Energy PLC * | | 42,500 | | | 1,802,673 |
Carphone Warehouse Group | | 212,000 | | | 1,297,987 |
HBOS PLC | | 362,700 | | | 6,366,001 |
Northern Rock PLC | | 165,000 | | | 3,189,394 |
Reckitt Benckiser PLC | | 95,610 | | | 3,485,255 |
Rolls-Royce Group PLC * | | 665,800 | | | 5,785,289 |
Standard Chartered PLC | | 125,000 | | | 3,318,866 |
Tesco PLC | | 226,870 | | | 1,321,802 |
| | | | |
|
|
| | | | | | 34,697,813 |
| | | | |
|
|
Total Common Stocks
(Cost $190,359,252) | | | | | 272,849,652 |
| | | | |
|
|
Preferred Stocks — 0.9% | | | | | |
Austria — 0.3% | | | | | |
Erste Bank Der Oesterreichischen Sparkassen AG 3.89% | | 12,042 | | | 722,368 |
| | | | |
|
|
40
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Brazil — 0.6% | | | | | | |
Banco Itau Holding Financeira SA 2.10% | | 56,600 | | $ | 1,815,431 | |
| | | | |
|
|
|
Total Preferred Stocks
(Cost $1,221,947) | | | | | 2,537,799 | |
| | | | |
|
|
|
Rights | | | | | | |
Sweden | | | | | | |
Capio AB - Rights expiring on 05/23/06 *(cost $0) | | 31,100 | | | 22,820 | |
| | | | |
|
|
|
Total Long-Term Investments
(Cost $191,581,199) | | | | | 275,410,271 | |
| | | | |
|
|
|
Short-Term Investment — 2.1% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series
(Cost $5,780,237; includes $3,022,730 of cash collateral received for securities on loan) (b)(w) | | 5,780,237 | | | 5,780,237 | |
| | | | |
|
|
|
Total Investments — 100.9%
(Cost $197,361,436; Note 5) | | | | | 281,190,508 | |
Liabilities In Excess of Other Assets — (0.9)% | | | | | (2,580,801 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 278,609,707 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| ADR | American Depositary Receipt |
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $2,916,441; cash collateral of $3,022,730 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (w) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of portfolio holdings and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Financial - Bank & Trust | | 16.5 | % |
Oil, Gas & Consumable Fuels | | 9.9 | |
Retail | | 8.0 | |
Automobile Manufacturers | | 7.2 | |
Diversified Financial Services | | 6.2 | |
Electrical Components & Equipment | | 5.2 | |
Pharmaceuticals | | 5.0 | |
Diversified Operations | | 5.0 | |
Software | | 3.7 | |
Telecommunications | | 3.1 | |
Consumer Products & Services | | 3.1 | |
Transportation | | 2.8 | |
Medical Supplies & Equipment | | 2.8 | |
Computers | | 2.1 | |
Healthcare-Products | | 2.1 | |
Affiliated Money Market Mutual Funds (1.1% represents (investments purchased with collateral received from securities on loan) | | 2.1 | |
Building Materials | | 2.0 | |
Insurance | | 2.0 | |
Machinery & Equipment | | 1.9 | |
Real Estate | | 1.6 | |
Distribution/Wholesale | | 1.3 | |
Household Products | | 1.3 | |
Airlines | | 0.9 | |
Media | | 0.9 | |
Chemicals | | 0.8 | |
Beverages | | 0.8 | |
Commercial Services | | 0.7 | |
Semiconductors | | 0.7 | |
Metals & Mining | | 0.5 | |
Food | | 0.5 | |
Consulting Services | | 0.2 | |
| | |
|
|
| | | 100.9 | % |
Liabilities in Excess of Other Assets | | (0.9 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
41
Strategic Partners Small Cap Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 95.9% | | | | | |
Common Stocks | | | | | |
Advertising — 0.2% | | | | | |
Marchex, Inc. (Class B Stock) | | 12,880 | | $ | 280,269 |
| | | | |
|
|
Aerospace — 0.5% | | | | | |
AAR Corp. * | | 22,131 | | | 590,455 |
| | | | |
|
|
Apparel — 0.5% | | | | | |
Iconix Brand Group, Inc. * (a) | | 30,570 | | | 525,804 |
| | | | |
|
|
Automobile Manufacturers — 0.8% | | | | | |
A.S.V., Inc. (a) | | 35,330 | | | 883,250 |
| | | | |
|
|
Automotive Parts — 0.3% | | | | | |
CSK Auto Corp. * | | 22,300 | | | 286,555 |
| | | | |
|
|
Banking — 1.0% | | | | | |
Virginia Commerce Bancorp., Inc. * | | 5,900 | | | 214,170 |
Wintrust Financial Corp. | | 17,900 | | | 926,325 |
| | | | |
|
|
| | | | | | 1,140,495 |
| | | | |
|
|
Biotechnology — 2.6% | | | | | |
Cambrex Corp. | | 56,155 | | | 1,138,823 |
Illumina, Inc. * (a) | | 31,812 | | | 1,006,214 |
Lifecell Corp. * | | 27,460 | | | 742,518 |
| | | | |
|
|
| | | | | | 2,887,555 |
| | | | |
|
|
Building Materials — 1.8% | | | | | |
Building Material Holding Corp. (a) | | 13,300 | | | 444,486 |
Genlyte Group, Inc. | | 5,850 | | | 403,124 |
Hexel Corp. * | | 27,870 | | | 615,648 |
U.S. Concrete, Inc. | | 36,960 | | | 507,091 |
| | | | |
|
|
| | | | | | 1,970,349 |
| | | | |
|
|
Business Services — 0.6% | | | | | |
Ctrip.com International Ltd., ADR (China) * | | 11,540 | | | 519,245 |
Harbor Florida Bancshares, Inc. | | 2,200 | | | 82,632 |
PRA International | | 1,750 | | | 40,705 |
| | | | |
|
|
| | | | | | 642,582 |
| | | | |
|
|
Commercial Services — 7.9% | | | | | |
AMN Healthcare Services, Inc. * | | 32,660 | | | 627,725 |
Arbitron, Inc. | | 7,600 | | | 271,016 |
Barrett Business Services | | 30,130 | | | 796,034 |
CRA International, Inc. * | | 23,551 | | | 1,148,347 |
Digitas, Inc. | | 42,000 | | | 592,620 |
FirstService Corp. | | 32,580 | | | 812,545 |
ICT Group, Inc. * | | 11,928 | | | 286,272 |
Korn/Ferry International * | | 19,750 | | | 414,750 |
Laureate Education, Inc. (a) | | 11,010 | | | 551,491 |
Mcgrath Rentcorp | | 23,410 | | | 629,495 |
Providence Service Corp. | | 17,000 | | | 532,440 |
Rollins, Inc. | | 33,980 | | | 688,095 |
|
| | |
| | | Shares | | Value (Note 2) |
|
Steiner Leisure Ltd. | | 15,930 | | $ | 686,902 |
Team, Inc. | | 18,690 | | | 586,866 |
TeleTech Holdings, Inc. * | | 12,100 | | | 155,364 |
| | | | |
|
|
| | | | | | 8,779,962 |
| | | | |
|
|
Computer Services & Software — 7.6% | | | | | |
Computer Programs & Systems, Inc. | | 8,850 | | | 417,897 |
Concur Technologies, Inc. * | | 24,590 | | | 383,358 |
Equinix, Inc. | | 9,060 | | | 597,054 |
Hyperion Solutions Corp. * | | 24,598 | | | 753,191 |
Informatica Corp. | | 23,531 | | | 361,671 |
M-Systems Flash Disk Pioneers * (a) | | 19,360 | | | 667,339 |
Mantech International Corp. (Class A Stock) * | | 9,250 | | | 305,528 |
Microsemi Corp. * (a) | | 16,340 | | | 446,409 |
Neoware, Inc. * | | 23,540 | | | 510,112 |
Optimal Group, Inc. (Class A Stock) | | 45,090 | | | 693,935 |
Pdf Solutions, Inc. * | | 35,450 | | | 553,020 |
Radware Ltd * | | 26,200 | | | 415,270 |
Retalix Ltd. (a) | | 21,770 | | | 535,107 |
Synplicity, Inc. | | 74,250 | | | 486,337 |
The9 Ltd., ADR (China)* (a) | | 14,400 | | | 431,856 |
THQ, Inc. (a) | | 16,884 | | | 432,737 |
Ultimate Software Group, Inc. * | | 17,740 | | | 453,612 |
| | | | |
|
|
| | | | | | 8,444,433 |
| | | | |
|
|
Computers — 0.9% | | | | | |
Par Technology Corp. * | | 3,235 | | | 54,154 |
Radiant Systems, Inc. * | | 44,250 | | | 575,250 |
Sigma Designs, Inc. * | | 23,700 | | | 328,956 |
| | | | |
|
|
| | | | | | 958,360 |
| | | | |
|
|
Construction — 1.7% | | | | | |
Champion Enterprises, Inc. * | | 34,600 | | | 527,996 |
Shaw Group, Inc. | | 44,670 | | | 1,366,902 |
| | | | |
|
|
| | | | | | 1,894,898 |
| | | | |
|
|
Consumer Products & Services — 0.7% | | | | | |
Central Garden & Pet Co. | | 16,050 | | | 790,623 |
| | | | |
|
|
Distribution/Wholesale — 0.4% | | | | | |
Navarre Corp. (a) | | 113,038 | | | 445,370 |
| | | | |
|
|
Diversified Financial Services — 1.3% | | | | | |
Cohen & Steers, Inc. | | 28,205 | | | 722,894 |
GFI Group, Inc. * | | 12,030 | | | 684,267 |
| | | | |
|
|
| | | | | | 1,407,161 |
| | | | |
|
|
Diversified Machinery — 4.0% | | | | | |
Flow International Corp. * (a) | | 31,470 | | | 425,474 |
Gardner Denver, Inc. | | 21,169 | | | 1,577,725 |
Gehl Co. * | | 15,970 | | | 573,004 |
42
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Intermec, Inc. * | | 46,153 | | $ | 1,222,593 |
Regal-Beloit Corp. | | 14,050 | | | 655,573 |
| | | | |
|
|
| | | | | | 4,454,369 |
| | | | |
|
|
Education — 0.2% | | | | | |
Blackboard, Inc. * (a) | | 7,900 | | | 232,023 |
| | | | |
|
|
Electronic Components — 1.0% | | | | | |
IXYS Corp. * | | 19,450 | | | 196,640 |
Trimble Navigation Ltd. * | | 20,230 | | | 958,497 |
| | | | |
|
|
| | | | | | 1,155,137 |
| | | | |
|
|
Electronics — 3.0% | | | | | |
Coherent, Inc. * (a) | | 31,673 | | | 1,172,218 |
Itron, Inc. * | | 6,420 | | | 430,461 |
Novatel, Inc. * | | 3,600 | | | 123,912 |
Rogers Corp. | | 17,557 | | | 1,083,267 |
SRS Labs, Inc. | | 85,000 | | | 508,300 |
| | | | |
|
|
| | | | | | 3,318,158 |
| | | | |
|
|
Entertainment & Leisure — 2.4% | | | | | |
Century Casinos, Inc. | | 53,200 | | | 537,852 |
Progressive Gaming International, Corp. * (a) | | 50,000 | | | 544,500 |
Scientific Games Corp. (Class A Stock) | | 27,710 | | | 1,055,474 |
Shuffle Master, Inc. * (a) | | 13,756 | | | 508,284 |
| | | | |
|
|
| | | | | | 2,646,110 |
| | | | |
|
|
Financial – Bank & Trust — 2.6% | | | | | |
Boston Private Financial Holdings, Inc. | | 20,700 | | | 688,275 |
Glacier Bancorp, Inc. | | 10,500 | | | 318,780 |
PrivateBancorp, Inc. | | 18,670 | | | 826,148 |
Texas Capital Banshares, Inc. * | | 47,153 | | | 1,087,348 |
| | | | |
|
|
| | | | | | 2,920,551 |
| | | | |
|
|
Financial Services — 4.8% | | | | | |
Digital Insight, Corp. * | | 45,433 | | | 1,566,984 |
Financial Federal Corp. (a) | | 29,622 | | | 841,265 |
Portfolio Recovery Associates, Inc. * | | 14,100 | | | 725,445 |
Valueclick, Inc. * (a) | | 92,121 | | | 1,552,239 |
Websense, Inc. * (a) | | 24,226 | | | 602,258 |
| | | | |
|
|
| | | | | | 5,288,191 |
| | | | |
|
|
Healthcare Services — 1.3% | | | | | |
Connectics Corp * | | 14,250 | | | 215,888 |
Five Star Quality Care, Inc. | | 61,310 | | | 631,493 |
Healthways, Inc. * (a) | | 6,850 | | | 336,061 |
|
| | |
| | | Shares | | Value (Note 2) |
|
United Surgical Partners International, Inc. * | | 9,750 | | $ | 321,847 |
| | | | |
|
|
| | | | | | 1,505,289 |
| | | | |
|
|
Healthcare – Products — 6.5% | | | | | |
Inverness Medical Innovations, Inc. * | | 32,622 | | | 848,172 |
Kensey Nash Corp. * (a) | | 25,200 | | | 760,284 |
Neurometrix, Inc. * | | 7,300 | | | 275,356 |
NuVasive, Inc. * | | 29,430 | | | 586,246 |
Orthovita, Inc. (a) | | 106,390 | | | 420,241 |
PolyMedica Corp. | | 15,910 | | | 657,242 |
PSS World Medical, Inc. * (a) | | 46,028 | | | 830,345 |
ResMed, Inc. * | | 13,150 | | | 567,422 |
Solexa, Inc. * (a) | | 36,630 | | | 344,688 |
SonoSite, Inc. | | 11,010 | | | 415,628 |
Spectranetics Corp. | | 58,260 | | | 748,641 |
Vital Signs, Inc. | | 14,880 | | | 739,536 |
| | | | |
|
|
| | | | | | 7,193,801 |
| | | | |
|
|
Insurance — 1.4% | | | | | |
Amerisafe, Inc. * | | 65,670 | | | 768,339 |
Navigators Group, Inc. * | | 15,980 | | | 756,014 |
| | | | |
|
|
| | | | | | 1,524,353 |
| | | | |
|
|
Internet Services — 4.0% | | | | | |
CNET Networks, Inc. * (a) | | 4,250 | | | 45,815 |
ivillage, Inc. * | | 3,900 | | | 32,994 |
J2 Global Communications, Inc. * (a) | | 18,666 | | | 916,314 |
Jupitermedia Corp. * (a) | | 65,288 | | | 1,150,374 |
NetFlix, Inc.* (a) | | 20,850 | | | 617,994 |
Nutri/System, Inc. * (a) | | 12,520 | | | 849,607 |
Online Resources Corp. * | | 54,379 | | | 705,296 |
TIBCO Software, Inc. * | | 10,700 | | | 92,234 |
| | | | |
|
|
| | | | | | 4,410,628 |
| | | | |
|
|
Internet Software & Services — 0.5% | | | | | |
Openwave Systems, Inc. * | | 27,436 | | | 510,584 |
| | | | |
|
|
Machinery — 0.5% | | | | | |
Intevac, Inc. * | | 19,320 | | | 542,892 |
| | | | |
|
|
Machinery & Equipment — 3.3% | | | | | |
Avocent Corp. * | | 37,086 | | | 999,097 |
Franklin Electric Co., Inc. | | 6,800 | | | 396,644 |
IDEX Corp. | | 13,815 | | | 701,802 |
JLG Industries, Inc. | | 21,900 | | | 628,092 |
Kennametal, Inc. | | 15,392 | | | 951,995 |
| | | | |
|
|
| | | | | | 3,677,630 |
| | | | |
|
|
43
Strategic Partners Small Cap Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Medical Supplies & Equipment — 2.8% | | | | | |
Adeza Biomedical Corp. * | | 26,960 | | $ | 461,825 |
Angiodynamics, Inc. * | | 15,210 | | | 472,574 |
Immucor, Inc. * | | 18,880 | | | 548,464 |
LCA-Vision, Inc. (a) | | 8,100 | | | 454,896 |
Mentor Corp. | | 27,845 | | | 1,206,524 |
| | | | |
|
|
| | | | | | 3,144,283 |
| | | | |
|
|
Metals & Mining — 0.8% | | | | | |
Dynamic Materials Corp. (a) | | 8,410 | | | 321,178 |
Ladish Company, Inc. * | | 14,900 | | | 531,483 |
| | | | |
|
|
| | | | | | 852,661 |
| | | | |
|
|
Miscellaneous Manufacturers — 0.5% | | | | | |
American Railcar Industries, Inc. | | 15,020 | | | 536,214 |
| | | | |
|
|
Office Equipment — 1.2% | | | | | |
Global Imaging Systems, Inc. * | | 35,538 | | | 1,327,344 |
| | | | |
|
|
Oil, Gas & Consumable Fuels — 8.1% | | | | | |
Berry Petroleum Co. (Class A Stock) | | 3,650 | | | 269,005 |
Cabot Oil & Gas Corp. | | 7,675 | | | 378,071 |
Comstock Resources, Inc. * | | 11,650 | | | 362,082 |
Frontier Oil Corp. | | 10,300 | | | 623,459 |
Hydril Co. * | | 18,635 | | | 1,493,782 |
Maverick Tube Corp. * (a) | | 10,620 | | | 577,940 |
Oil States International, Inc. * (a) | | 42,664 | | | 1,722,346 |
Parker Drilling Co. | | 6,000 | | | 50,400 |
St. Mary Land & Exploration Co. | | 10,850 | | | 457,436 |
Superior Energy Services, Inc. | | 59,096 | | | 1,899,936 |
Unit Corp. * | | 10,530 | | | 608,107 |
Warrior Energy Service, Corp. * | | 18,020 | | | 540,600 |
| | | | |
|
|
| | | | | | 8,983,164 |
| | | | |
|
|
Personal Services — 0.7% | | | | | |
Administaff, Inc. | | 6,500 | | | 375,375 |
Labor Ready, Inc. * | | 15,350 | | | 405,700 |
| | | | |
|
|
| | | | | | 781,075 |
| | | | |
|
|
Pharmaceuticals — 4.0% | | | | | |
American Medical Systems Holdings, Inc. * | | 72,606 | | | 1,612,579 |
HealthExtras, Inc. | | 24,133 | | | 701,305 |
I-Flow Corp. * | | 34,100 | | | 466,488 |
Integra LifeSciences Holdings Corp. * | | 28,795 | | | 1,208,238 |
United Therapeutics, Corp. * | | 8,400 | | | 500,220 |
| | | | |
|
|
| | | | | | 4,488,830 |
| | | | |
|
|
|
| | | Shares | | Value (Note 2) |
|
Real Estate Investment Trust — 1.0% | | | | | |
KKR Financial Corp. * | | 25,020 | | $ | 540,432 |
RADvision Ltd. * | | 32,920 | | | 574,454 |
| | | | |
|
|
| | | | | | 1,114,886 |
| | | | |
|
|
Retail & Merchandising — 3.4% | | | | | |
Cache, Inc. * | | 41,020 | | | 815,068 |
GameStop Corp. (Class B Stock) * | | 9,200 | | | 390,724 |
Hibbett Sporting Goods, Inc. * | | 10,575 | | | 320,528 |
JOS. A. Bank Clothiers, Inc. * | | 12,421 | | | 521,682 |
Select Comfort Corp. * (a) | | 14,900 | | | 595,404 |
Stein Mart, Inc. | | 3,700 | | | 58,460 |
Tractor Supply Co. | | 17,270 | | | 1,118,923 |
| | | | |
|
|
| | | | | | 3,820,789 |
| | | | |
|
|
Semiconductors — 3.0% | | | | | |
Aeroflex, Inc. * | | 84,701 | | | 1,068,080 |
Anadigics, Inc. * | | 42,000 | | | 375,900 |
Emulex Corp. * | | 14,700 | | | 266,805 |
GSI Group, Inc. * | | 49,820 | | | 498,698 |
O2Micro International Ltd., ADR (Cayman Islands)* | | 57,040 | | | 612,609 |
Volterra Semiconductor Corp. | | 28,870 | | | 474,334 |
| | | | |
|
|
| | | | | | 3,296,426 |
| | | | |
|
|
Telecommunications — 2.3% | | | | | |
Dril-Quip, Inc. * | | 20,076 | | | 1,445,071 |
ID Systems, Inc. * | | 20,700 | | | 488,520 |
SafeNet, Inc. * | | 31,580 | | | 634,442 |
| | | | |
|
|
| | | | | | 2,568,033 |
| | | | |
|
|
Transportation — 3.8% | | | | | |
American Commercial Lines, Inc. * | | 12,920 | | | 696,776 |
Forward Air Corp. | | 25,669 | | | 1,031,124 |
Kirby Corp. * | | 4,350 | | | 320,595 |
Knight Transportation, Inc. | | 23,250 | | | 454,072 |
Old Dominion Freight Line * | | 19,025 | | | 612,605 |
Vitran Corp., Inc. | | 34,150 | | | 687,781 |
Werner Enterprises, Inc. * | | 20,629 | | | 395,664 |
| | | | |
|
|
| | | | | | 4,198,617 |
| | | | |
|
|
Total Long-Term Investments
(Cost $90,389,294) | | | | | 106,420,159 |
| | | | |
|
|
44
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Short-Term Investment — 20.7% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series
(Cost $22,981,123; includes $18,308,138 of cash collateral received for securities on loan) (b)(w) | | 22,981,123 | | $ | 22,981,123 | |
| | | | |
|
|
|
Total Investments — 116.6%
(Cost $95,062,279; Note 5) | | | | | 129,401,282 | |
Liabilities In Excess of Other Assets — (16.6)% | | | | | (18,399,053 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 111,002,229 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| | |
ADR | | American Depositary Receipt |
| |
* | | Non-income producing security. |
| |
(a) | | All or a portion of security is on loan. The aggregate market value of such is $17,887,630; cash collateral of $18,308,138 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| |
(b) | | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| |
(w) | | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Affiliated Money Market Mutual Fund (16.5% represents investment purchased with collateral received from securities on loan) | | 20.7 | % |
Oil, Gas & Consumable Fuels | | 8.1 | |
Commercial Services | | 7.9 | |
Computer Services & Software | | 7.6 | |
Healthcare-Products | | 6.5 | |
Financial Services | | 4.8 | |
Diversified Machinery | | 4.0 | |
Internet Services | | 4.0 | |
Pharmaceuticals | | 4.0 | |
Transportation | | 3.8 | |
Retail & Merchandising | | 3.4 | |
Machinery & Equipment | | 3.3 | |
Electronics | | 3.0 | |
Semiconductors | | 3.0 | |
Medical Supplies & Equipment | | 2.8 | |
Biotechnology | | 2.6 | |
Financial - Bank & Trust | | 2.6 | |
Entertainment & Leisure | | 2.4 | |
Telecommunications | | 2.3 | |
Building Materials | | 1.8 | |
Construction | | 1.7 | |
Insurance | | 1.4 | |
Diversified Financial Services | | 1.3 | |
Healthcare Services | | 1.3 | |
Office Equipment | | 1.2 | |
Banking | | 1.0 | |
Electronic Components | | 1.0 | |
Real Estate Investment Trust | | 1.0 | |
Computers | | 0.9 | |
Automobile Manufacturers | | 0.8 | |
Metals & Mining | | 0.8 | |
Consumer Products & Services | | 0.7 | |
Personal Services | | 0.7 | |
Business Services | | 0.6 | |
Aerospace | | 0.5 | |
Apparel | | 0.5 | |
Internet Software & Services | | 0.5 | |
Machinery | | 0.5 | |
Miscellaneous Manufacturers | | 0.5 | |
Distribution/Wholesale | | 0.4 | |
Automotive Parts | | 0.3 | |
Advertising | | 0.2 | |
Education | | 0.2 | |
| | |
|
|
| | | 116.6 | % |
Liabilities In Excess of Other Assets | | (16.6 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
45
Strategic Partners Mid-Cap Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 100.0% | | | | | |
Common Stocks | | | | | |
Advertising — 2.5% | | | | | |
Getty Images, Inc. * (a) | | 6,800 | | $ | 435,268 |
Lamar Advertising Co. * | | 51,750 | | | 2,845,733 |
| | | | |
|
|
| | | | | | 3,281,001 |
| | | | |
|
|
Aerospace & Defense — 1.9% | | | | | |
Alliant Techsystems, Inc. * (a) | | 30,784 | | | 2,462,412 |
| | | | |
|
|
Apparel/Shoes — 2.8% | | | | | |
Chico’s FAS, Inc. * | | 48,750 | | | 1,806,675 |
Urban Outfitters, Inc. * | | 76,300 | | | 1,770,160 |
| | | | |
|
|
| | | | | | 3,576,835 |
| | | | |
|
|
Audio & Visual Equipment — 1.8% | | | | | |
Harman International Industries, Inc. | | 26,900 | | | 2,366,931 |
| | | | |
|
|
Audio Technology — 1.1% | | | | | |
Dolby Laboratories, Inc. (Class A Stock) * | | 59,500 | | | 1,400,630 |
| | | | |
|
|
Auto Parts & Related — 1.5% | | | | | |
Gentex Corp. | | 128,700 | | | 1,886,742 |
| | | | |
|
|
Banks — 1.5% | | | | | |
Commerce Bancorp, Inc. (a) | | 23,500 | | | 947,990 |
TCF Financial Corp. | | 35,300 | | | 948,158 |
| | | | |
|
|
| | | | | | 1,896,148 |
| | | | |
|
|
Beverages — 2.0% | | | | | |
Fortune Brands, Inc. | | 32,700 | | | 2,625,810 |
| | | | |
|
|
Biotechnology — 1.4% | | | | | |
MedImmune, Inc. * | | 55,500 | | | 1,746,585 |
| | | | |
|
|
Broadcasting & Cable/Satellite TV — 4.0% | | | | | |
Entravision Communications Corp. (Class A Stock) * | | 242,825 | | | 2,034,873 |
Univision Communications, Inc. (Class A Stock) * | | 22,375 | | | 798,564 |
XM Satellite Radio Holdings, Inc. (Class A Stock) (a) | | 112,100 | | | 2,266,662 |
| | | | |
|
|
| | | | | | 5,100,099 |
| | | | |
|
|
Business Software and Services — 3.2% | | | | | |
ChoicePoint, Inc. * | | 41,200 | | | 1,814,036 |
Cognizant Technology Solutions Corp. * (a) | | 37,000 | | | 2,353,570 |
| | | | |
|
|
| | | | | | 4,167,606 |
| | | | |
|
|
Commercial Services — 5.4% | | | | | |
Alliance Data Systems Corp. * (a) | | 46,600 | | | 2,563,000 |
ARAMARK Corp. (Class B Stock) | | 79,150 | | | 2,224,906 |
|
| | |
| | | Shares | | Value (Note 2) |
|
Iron Mountain, Inc. * | | 53,837 | | $ | 2,105,027 |
Suntech Power Holdings Co., ADR * (China) | | 1,400 | | | 48,006 |
| | | | |
|
|
| | | | | | 6,940,939 |
| | | | |
|
|
Computer Hardware — 1.4% | | | | | |
Avocent Corp. * | | 30,300 | | | 816,282 |
Zebra Technologies Corp. (Class A Stock) * | | 26,600 | | | 1,055,754 |
| | | | |
|
|
| | | | | | 1,872,036 |
| | | | |
|
|
Computer Services — 3.3% | | | | | |
Ceridian Corp. * | | 85,000 | | | 2,059,550 |
MoneyGram International, Inc. | | 63,200 | | | 2,142,480 |
| | | | |
|
|
| | | | | | 4,202,030 |
| | | | |
|
|
Computer Software — 5.6% | | | | | |
Activision, Inc. * (a) | | 163,433 | | | 2,319,114 |
Cogent, Inc. * (a) | | 75,744 | | | 1,239,172 |
Cognos, Inc. * (Canada) | | 56,800 | | | 2,116,936 |
NAVTEQ Corp. * (a) | | 23,800 | | | 988,176 |
Salesforce.com, Inc. * | | 15,600 | | | 546,780 |
| | | | |
|
|
| | | | | | 7,210,178 |
| | | | |
|
|
Consumer Products & Services — 0.9% | | | | | |
Weight Watchers | | 23,800 | | | 1,174,530 |
| | | | |
|
|
Consumer Services — 0.9% | | | | | |
VCA Antech, Inc. * | | 38,200 | | | 1,187,638 |
| | | | |
|
|
Drugs & Medicine — 1.0% | | | | | |
OSI Pharmaceuticals, Inc. * (a) | | 46,800 | | | 1,243,476 |
| | | | |
|
|
Electronic Components & Equipment — 0.5% | | | | | |
Jabil Circuit, Inc. * | | 16,800 | | | 655,032 |
| | | | |
|
|
Exploration & Production — 1.0% | | | | | |
Dresser Rand Group, Inc. * | | 51,800 | | | 1,293,446 |
| | | | |
|
|
Food — 1.3% | | | | | |
Hershey Foods Corp. | | 31,000 | | | 1,653,540 |
| | | | |
|
|
Gaming/Lodging — 2.3% | | | | | |
Harrah’s Entertainment, Inc. | | 22,575 | | | 1,843,023 |
Hilton Hotels Corp. | | 25,900 | | | 697,746 |
Marriott International, Inc. (Class A Stock) | | 6,550 | | | 478,609 |
| | | | |
|
|
| | | | | | 3,019,378 |
| | | | |
|
|
Healthcare Services — 2.5% | | | | | |
Covance, Inc. | | 25,100 | | | 1,464,585 |
Omnicare, Inc. (a) | | 32,000 | | | 1,814,720 |
| | | | |
|
|
| | | | | | 3,279,305 |
| | | | |
|
|
46
| | | | | | |
| | |
| | | Shares | | Value (Note 2) | |
| |
Insurance — 0.9% | | | | | | |
Willis Group Holdings Ltd. (United Kingdom) | | 32,775 | | $ | 1,152,041 | |
| | | | |
|
|
|
Internet & Online — 1.1% | | | | | | |
CNET Networks, Inc. * | | 134,400 | | | 1,448,832 | |
| | | | |
|
|
|
Manufacturing — 5.2% | | | | | | |
American Standard Cos., Inc. | | 53,170 | | | 2,314,490 | |
Pentair, Inc. | | 41,700 | | | 1,596,276 | |
Rockwell Automation, Inc. | | 37,600 | | | 2,724,496 | |
| | | | |
|
|
|
| | | | | | 6,635,262 | |
| | | | |
|
|
|
Medical Products — 7.7% | | | | | | |
Advanced Medical Optics, Inc. * (a) | | 43,300 | | | 2,017,780 | |
Bard (C.R.), Inc. | | 35,400 | | | 2,635,884 | |
Fisher Scientific International, Inc. * (a) | | 39,376 | | | 2,777,977 | |
Gen-Probe, Inc. | | 17,200 | | | 919,684 | |
St. Jude Medical, Inc. * | | 38,900 | | | 1,535,772 | |
| | | | |
|
|
|
| | | | | | 9,887,097 | |
| | | | |
|
|
|
Medical Supplies & Equipment — 2.7% | | | | | | |
Biomet, Inc. (a) | | 24,500 | | | 910,910 | |
Charles River Laboratories International, Inc. * (a) | | 54,225 | | | 2,562,131 | |
| | | | |
|
|
|
| | | | | | 3,473,041 | |
| | | | |
|
|
|
Networking/Telecommunications Equipment — 4.8% | | | | | | |
Amphenol Corp. | | 47,800 | | | 2,762,840 | |
FLIR Systems, Inc. * (a) | | 57,546 | | | 1,407,000 | |
Research in Motion Ltd. * | | 26,900 | | | 2,061,347 | |
| | | | |
|
|
|
| | | | | | 6,231,187 | |
| | | | |
|
|
|
Oil & Gas — 3.3% | | | | | | |
Chesapeake Energy Corp. (a) | | 40,500 | | | 1,283,040 | |
Hugoton Royalty Trust * | | 1,134 | | | 31,365 | |
Newfield Exploration Co. * | | 20,900 | | | 932,140 | |
Quicksilver Resources, Inc. * (a) | | 29,200 | | | 1,210,048 | |
XTO Energy, Inc. | | 19,033 | | | 806,048 | |
| | | | |
|
|
|
| | | | | | 4,262,641 | |
| | | | |
|
|
|
Oil Well Services & Equipment — 7.8% | | | | | | |
Cooper Cameron Corp. * (a) | | 54,000 | | | 2,712,960 | |
Grant Prideco, Inc. * | | 25,900 | | | 1,326,080 | |
Smith International, Inc. | | 61,650 | | | 2,603,479 | |
Weatherford International Ltd. | | 63,200 | | | 3,345,176 | |
| | | | |
|
|
|
| | | | | | 9,987,695 | |
| | | | |
|
|
|
Producer Goods — 2.0% | | | | | | |
Grainger, (W.W.), Inc. | | 34,140 | | | 2,626,049 | |
| | | | |
|
|
|
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Restaurants — 1.2% | | | | | | |
Chang’s China Bistro, (P.F.), Inc. * (a) | | 35,400 | | $ | 1,508,394 | |
| | | | |
|
|
|
Retailing — 2.1% | | | | | | |
Williams-Sonoma, Inc. * | | 63,585 | | | 2,662,304 | |
| | | | |
|
|
|
Semiconductors — 5.4% | | | | | | |
Advanced Micro Devices, Inc. * (a) | | 26,000 | | | 841,100 | |
Linear Technology Corp. | | 80,100 | | | 2,843,550 | |
Marvell Technology Group Ltd. * (Bermuda) | | 22,200 | | | 1,267,398 | |
Microchip Technology, Inc. | | 17,500 | | | 652,050 | |
Xilinx, Inc. (a) | | 49,200 | | | 1,361,364 | |
| | | | |
|
|
|
| | | | | | 6,965,462 | |
| | | | |
|
|
|
Semiconductors/Semi Cap Equipment — 2.5% | | | | | | |
Formfactor, Inc. * | | 25,900 | | | 1,079,771 | |
Tessera Technologies, Inc. * (a) | | 64,957 | | | 2,083,171 | |
| | | | |
|
|
|
| | | | | | 3,162,942 | |
| | | | |
|
|
|
Telecommunications — 3.5% | | | | | | |
Crown Castle International Corp. * | | 70,150 | | | 2,360,547 | |
Neustar, Inc. (Class A Stock) * | | 59,500 | | | 2,088,450 | |
| | | | |
|
|
|
| | | | | | 4,448,997 | |
| | | | |
|
|
|
Total Long-Term Investments
(Cost $105,230,710) | | | | | 128,694,271 | |
| | | | |
|
|
|
SHORT-TERM INVESTMENT — 28.0% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (Cost $35,993,253; includes $35,801,659 of cash collateral received for securities on loan) (b)(w) | | 35,993,253 | | | 35,993,253 | |
| | | | |
|
|
|
Total Investments — 128.0%
(Cost $141,223,963; Note 5) | | | | | 164,687,524 | |
Liabilities In Excess of Other Assets — (28.0)% | | | | | (36,023,938 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 128,663,586 | |
| | | | |
|
|
|
47
Strategic Partners Mid-Cap Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
The following abbreviations are used in portfolio descriptions:
| ADR | American Depositary Receipt |
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $34,311,139; cash collateral of $35,801,659 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Affiliated Money Market Mutual Fund (27.8% represents investment purchased with collateral received from securities on loan) | | 28.0 | % |
Medical Products | | 7.7 | |
Computer Software | | 5.6 | |
Commercial Services | | 5.4 | |
Manufacturing | | 5.2 | |
Oil Well Services & Equipment | | 5.2 | |
Networking/Telecommunications Equipment | | 4.8 | |
Semiconductors | | 4.8 | |
Broadcasting & Cable/Satellite TV | | 4.0 | |
Telecommunications | | 3.5 | |
Computer Services | | 3.3 | |
Oil & Gas | | 3.3 | |
Business Software and Services | | 3.2 | |
Apparel/Shoes | | 2.8 | |
Medical Supplies & Equipment | | 2.7 | |
Oil, Gas & Consumable Fuels | | 2.6 | |
Advertising | | 2.5 | |
Healthcare Services | | 2.5 | |
Semiconductors/Semi Cap Equipment | | 2.5 | |
Retailing | | 2.1 | |
Beverages | | 2.0 | |
Producer Goods | | 2.0 | |
Aerospace & Defense | | 1.9 | |
Audio & Visual Equipment | | 1.8 | |
Gaming/Lodging | | 1.8 | |
Auto Parts & Related | | 1.5 | |
Banks | | 1.5 | |
Biotechnology | | 1.4 | |
Computer Hardware | | 1.4 | |
Food | | 1.3 | |
Restaurants | | 1.2 | |
Audio Technology | | 1.1 | |
Internet & Online | | 1.1 | |
Drugs & Medicine | | 1.0 | |
Exploration & Production | | 1.0 | |
Consumer Products & Services | | 0.9 | |
Consumer Services | | 0.9 | |
Insurance | | 0.9 | |
Semiconductors & Semiconductor Equipment | | 0.6 | |
Electronic Equipment & Instruments | | 0.5 | |
Hotels, Restaurants & Leisure | | 0.5 | |
| | |
|
|
| | | 128.0 | % |
Liabilities In Excess of Other Assets | | (28.0 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
48
Strategic Partners Mid Cap Value Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 100.3% | | | | | |
Common Stocks | | | | | |
Automotive Parts — 2.9% | | | | | |
Advance Auto Parts, Inc. * | | 155,250 | | $ | 6,244,155 |
Johnson Controls, Inc. | | 72,800 | | | 5,936,840 |
| | | | |
|
|
| | | | | | 12,180,995 |
| | | | |
|
|
Beverages — 1.3% | | | | | |
Constellation Brands, Inc. (Class A Stock) | | 216,300 | | | 5,342,610 |
| | | | |
|
|
Business Services — 0.3% | | | | | |
Manpower, Inc. | | 18,700 | | | 1,218,305 |
| | | | |
|
|
Cable Television — 0.6% | | | | | |
Cablevision Systems New York Group (Class A Stock) * | | 124,000 | | | 2,513,480 |
| | | | |
|
|
Commercial Services — 0.5% | | | | | |
United Rentals, Inc. * | | 55,200 | | | 1,968,984 |
| | | | |
|
|
Communication Equipment — 0.8% | | | | | |
Avaya, Inc. *(a) | | 280,100 | | | 3,361,200 |
| | | | |
|
|
Computer Hardware — 1.4% | | | | | |
Ingram Micro, Inc. (Class A Stock) * | | 55,300 | | | 1,016,967 |
Lexmark International, Inc. (Class A Stock) *(a) | | 104,500 | | | 5,089,150 |
| | | | |
|
|
| | | | | | 6,106,117 |
| | | | |
|
|
Computer Services & Software — 3.1% | | | | | |
Activision, Inc. * | | 359,800 | | | 5,105,562 |
BEA Systems, Inc. * | | 124,900 | | | 1,654,925 |
Computer Sciences Corp. * | | 18,500 | | | 1,083,175 |
Take-Two Interactive Software, Inc. *(a) | | 222,200 | | | 3,788,510 |
Tech Data Corp. * | | 41,900 | | | 1,538,568 |
| | | | |
|
|
| | | | | | 13,170,740 |
| | | | |
|
|
Conglomerates — 0.7% | | | | | |
Cendant Corp. | | 179,300 | | | 3,125,199 |
| | | | |
|
|
Construction — 12.1% | | | | | |
Beazer Homes USA, Inc. (a) | | 31,200 | | | 1,798,056 |
Centex Corp. | | 124,900 | | | 6,944,440 |
Chicago Bridge & Iron Co. NV (Netherlands) | | 273,200 | | | 6,548,604 |
Hovnanian Enterprises, Inc. (Class A Stock) * | | 141,300 | | | 5,619,501 |
KB Home | | 94,900 | | | 5,842,993 |
Lennar Corp. (Class A Stock) (a) | | 136,400 | | | 7,492,452 |
Masco Corp. | | 109,400 | | | 3,489,860 |
NVR, Inc. * | | 8,000 | | | 6,040,000 |
|
| | |
| | | Shares | | Value (Note 2) |
|
Pulte Homes, Inc. | | 196,800 | | $ | 7,350,480 |
| | | | |
|
|
| | | | | | 51,126,386 |
| | | | |
|
|
Consumer Products & Services — 2.0% | | | | | |
Jarden Corp. *(a) | | 101,400 | | | 3,447,600 |
Whirlpool Corp. (a) | | 56,400 | | | 5,061,900 |
| | | | |
|
|
| | | | | | 8,509,500 |
| | | | |
|
|
Diversified Machinery — 2.3% | | | | | |
Ingersoll-Rand Co. Ltd. (Class A Stock) | | 111,900 | | | 4,895,625 |
The Manitowoc Company, Inc. | | 98,300 | | | 4,874,697 |
| | | | |
|
|
| | | | | | 9,770,322 |
| | | | |
|
|
Electronic Components — 1.4% | | | | | |
Duke Energy Corp. | | 50,856 | | | 1,480,927 |
International Rectifier Corp. *(a) | | 95,400 | | | 4,312,080 |
| | | | |
|
|
| | | | | | 5,793,007 |
| | | | |
|
|
Entertainment & Leisure — 1.2% | | | | | |
Harley-Davidson, Inc. | | 102,600 | | | 5,216,184 |
| | | | |
|
|
Financial – Bank & Trust — 2.8% | | | | | |
Hudson City Bancorp, Inc. | | 544,200 | | | 7,297,722 |
Washington Mutual, Inc. | | 100,500 | | | 4,528,530 |
| | | | |
|
|
| | | | | | 11,826,252 |
| | | | |
|
|
Financial Services — 3.1% | | | | | |
Ambac Financial Group, Inc. | | 9,350 | | | 770,066 |
Bear Stearns Cos., Inc. | | 40,100 | | | 5,714,651 |
IndyMac Bancorp, Inc. (a) | | 134,000 | | | 6,474,880 |
| | | | |
|
|
| | | | | | 12,959,597 |
| | | | |
|
|
Food – Wholesale — 0.8% | | | | | |
NBTY, Inc. * | | 159,100 | | | 3,603,615 |
| | | | |
|
|
Food Products — 0.2% | | | | | |
ConAgra Foods, Inc. | | 41,700 | | | 945,756 |
| | | | |
|
|
Gas Utilities — 1.1% | | | | | |
National Fuel Gas Co. | | 135,300 | | | 4,498,725 |
| | | | |
|
|
Healthcare Services — 5.9% | | | | | |
Aetna, Inc. * | | 133,300 | | | 5,132,050 |
Coventry Health Care, Inc. * | | 125,850 | | | 6,250,969 |
Lifepoint Hospitals, Inc. * | | 130,400 | | | 4,133,680 |
Omnicare, Inc. | | 121,300 | | | 6,878,923 |
Triad Hospitals, Inc. * | | 64,800 | | | 2,669,760 |
| | | | |
|
|
| | | | | | 25,065,382 |
| | | | |
|
|
Hotels, Restaurants & Leisure — 0.6% | | | | | |
Carnival Corp. | | 56,000 | | | 2,621,920 |
| | | | |
|
|
49
Strategic Partners Mid Cap Value Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Insurance — 2.4% | | | | |
Endurance Specialty Holdings Ltd. (Bermuda) | | 183,700 | | 5,687,352 |
PMI Group, Inc. (The) | | 94,500 | | 4,361,175 |
| | | | |
|
| | | | | 10,048,527 |
| | | | |
|
Internet Services — 1.7% | | | | |
Check Point Software Technologies Ltd. * | | 265,700 | | 5,141,295 |
McAfee, Inc. * | | 77,400 | | 2,019,366 |
| | | | |
|
| | | | | 7,160,661 |
| | | | |
|
Machinery & Equipment — 5.5% | | | | |
Eaton Corp. | | 67,300 | | 5,158,545 |
Joy Global, Inc. (a) | | 152,800 | | 10,037,432 |
Terex Corp. * | | 93,400 | | 8,083,770 |
| | | | |
|
| | | | | 23,279,747 |
| | | | |
|
Metals & Mining — 6.4% | | | | |
Arch Coal, Inc. | | 123,000 | | 11,683,770 |
Foundation Coal Holdings, Inc. | | 70,900 | | 3,594,630 |
Phelps Dodge Corp. | | 96,700 | | 8,334,573 |
Timken Co. | | 101,500 | | 3,542,350 |
| | | | |
|
| | | | | 27,155,323 |
| | | | |
|
Oil & Gas — 16.4% | | | | |
BJ Services Co. | | 39,900 | | 1,518,195 |
Cabot Oil & Gas Corp. | | 13,500 | | 665,010 |
Canadian Natural Resources Ltd. | | 180,500 | | 10,866,100 |
Denbury Resources, Inc. | | 268,600 | | 8,756,360 |
General Maritime Corp. | | 62,000 | | 2,059,640 |
Hugoton Royalty Trust | | 9,980 | | 275,947 |
Kerr-McGee Corp. | | 2,000 | | 199,720 |
Murphy Oil Corp. | | 23,600 | | 1,184,248 |
Noble Energy, Inc. | | 36,800 | | 1,655,264 |
NRG Energy, Inc. *(a) | | 72,100 | | 3,431,239 |
Quicksilver Resources, Inc. *(a) | | 177,250 | | 7,345,240 |
Southwestern Energy Co. * | | 174,100 | | 6,271,082 |
Sunoco, Inc. | | 52,000 | | 4,214,080 |
Talisman Energy, Inc. (Canada) | | 142,600 | | 8,054,048 |
Williams Cos., Inc. | | 267,700 | | 5,870,661 |
XTO Energy, Inc. | | 167,466 | | 7,092,185 |
| | | | |
|
| | | | | 69,459,019 |
| | | | |
|
Pharmaceuticals — 1.3% | | | | |
Shire Pharmaceuticals Group PLC, ADR (United Kingdom) | | 112,200 | | 5,313,792 |
| | | | |
|
Printing & Publishing — 0.2% | | | | |
Knight-Ridder, Inc. | | 15,000 | | 930,000 |
| | | | |
|
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Real Estate Investment Trust — 3.4% | | | | | |
Colonial Properties Trust (a) | | 75,700 | | $ | 3,727,468 |
Developers Diversified Realty Corp. | | 73,300 | | | 3,899,560 |
Equity Office Properties Trust | | 27,200 | | | 878,560 |
First Industrial Realty Trust, Inc. | | 23,900 | | | 937,836 |
iStar Financial, Inc. | | 97,900 | | | 3,745,654 |
Trizec Properties, Inc. | | 53,300 | | | 1,333,566 |
| | | | |
|
|
| | | | | | 14,522,644 |
| | | | |
|
|
Retail & Merchandising — 6.8% | | | | | |
Aeropostale, Inc. * | | 104,900 | | | 3,221,479 |
Dollar Tree Stores, Inc. * | | 30,100 | | | 784,707 |
Foot Locker, Inc. | | 38,500 | | | 892,430 |
Gap, Inc. | | 234,500 | | | 4,242,105 |
Hot Topic, Inc. *(a) | | 255,700 | | | 3,792,031 |
Ross Stores, Inc. | | 159,700 | | | 4,893,208 |
TJX Cos., Inc. | | 280,900 | | | 6,778,117 |
Yum! Brands, Inc. | | 81,000 | | | 4,186,080 |
| | | | |
|
|
| | | | | | 28,790,157 |
| | | | |
|
|
Schools — 0.7% | | | | | |
Career Education Corp. *(a) | | 82,800 | | | 3,052,836 |
| | | | |
|
|
Telecommunications — 1.9% | | | | | |
Amdocs Ltd. * | | 82,600 | | | 3,072,720 |
Arris Group, Inc. | | 430,600 | | | 5,102,610 |
| | | | |
|
|
| | | | | | 8,175,330 |
| | | | |
|
|
Transportation — 0.9% | | | | | |
Frontline Ltd. (a) | | 99,800 | | | 3,209,568 |
Ship Finance International Ltd. | | 16,850 | | | 286,956 |
Teekay Shipping Corp. (a) | | 3,300 | | | 126,951 |
| | | | |
|
|
| | | | | | 3,623,475 |
| | | | |
|
|
Utilities — 7.6% | | | | | |
DPL, Inc. (a) | | 174,600 | | | 4,743,882 |
Edison International | | 87,800 | | | 3,547,998 |
Peabody Energy Corp. | | 165,100 | | | 10,543,285 |
The Mirant Corp. | | 177,000 | | | 4,347,120 |
TXU Corp. | | 180,000 | | | 8,933,400 |
| | | | |
|
|
| | | | | | 32,115,685 |
| | | | |
|
|
Total Long-Term Investments
(Cost $344,510,883) | | | | | 424,551,472 |
| | | | |
|
|
50
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Short-Term Investment — 17.2% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (Cost $72,820,039; includes $70,717,317 of cash collateral received for securities on loan) (b)(w) | | 72,820,039 | | $ | 72,820,039 | |
| | | | |
|
|
|
Total Investments — 117.5%
(Cost $417,330,922; Note 5) | | | | | 497,371,511 | |
Liabilities In Excess of Other Assets — (17.5)% | | | | | (74,127,268 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 423,244,243 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| ADR | American Depositary Receipt |
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $68,505,453; cash collateral of $70,717,317 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Affiliated Money Market Mutual Fund (16.7% represents investment purchased with collateral received from securities on loan) | | 17.2 | % |
Oil & Gas | | 16.4 | |
Construction | | 12.1 | |
Utilities | | 7.6 | |
Retail & Merchandising | | 6.8 | |
Metals & Mining | | 6.4 | |
Healthcare Services | | 5.9 | |
Machinery & Equipment | | 5.5 | |
Real Estate Investment Trust | | 3.4 | |
Computer Services & Software | | 3.1 | |
Financial Services | | 3.1 | |
Automotive Parts | | 2.9 | |
Financial - Bank & Trust | | 2.8 | |
Insurance | | 2.4 | |
Diversified Machinery | | 2.3 | |
Consumer Products & Services | | 2.0 | |
Telecommunications | | 1.9 | |
Internet Services | | 1.7 | |
Computer Hardware | | 1.4 | |
Electronic Components | | 1.4 | |
Beverages | | 1.3 | |
Pharmaceuticals | | 1.3 | |
Entertainment & Leisure | | 1.2 | |
Gas Utilities | | 1.1 | |
Transportation | | 0.9 | |
Communication Equipment | | 0.8 | |
Food - Wholesale | | 0.8 | |
Conglomerates | | 0.7 | |
Schools | | 0.7 | |
Cable Television | | 0.6 | |
Hotels, Restaurants & Leisure | | 0.6 | |
Commercial Services | | 0.5 | |
Business Services | | 0.3 | |
Food Products | | 0.2 | |
Printing & Publishing | | 0.2 | |
| | |
|
|
| | | 117.5 | % |
Liabilities In Excess of Other Assets | | (17.5 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
51
Strategic Partners Technology Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 97.1% | | | | | |
Common Stocks | | | | | |
Business Services — 5.9% | | | | | |
Accenture Ltd. (Class A Stock) * | | 14,400 | | $ | 418,608 |
Automatic Data Processing, Inc. | | 10,400 | | | 458,432 |
| | | | |
|
|
| | | | | | 877,040 |
| | | | |
|
|
Computer Hardware — 8.5% | | | | | |
Apple Computer, Inc. * | | 7,700 | | | 542,003 |
Dell, Inc. * | | 7,500 | | | 196,500 |
Hewlett-Packard Co. | | 8,600 | | | 279,242 |
Seagate Technology * | | 8,800 | | | 233,728 |
| | | | |
|
|
| | | | | | 1,251,473 |
| | | | |
|
|
Computer Services & Software — 21.9% | | | | | |
Adobe Systems, Inc. | | 11,200 | | | 439,040 |
Avid Technology, Inc. * | | 3,500 | | | 134,925 |
Citrix Systems, Inc. | | 5,600 | | | 223,552 |
Cognizant Technology Solutions Corp. * | | 6,600 | | | 419,826 |
Electronic Arts, Inc. * | | 6,100 | | | 346,480 |
EMC Corp. * | | 28,900 | | | 390,439 |
Infosys Technologies Ltd., ADR (India) | | 3,600 | | | 283,140 |
Microsoft Corp. | | 12,500 | | | 301,875 |
Red Hat, Inc. * | | 4,500 | | | 132,255 |
Salesforce.com, Inc. * | | 4,200 | | | 147,210 |
SAP AG, ADR (Germany) | | 7,600 | | | 415,188 |
| | | | |
|
|
| | | | | | 3,233,930 |
| | | | |
|
|
Computers – Networking — 7.6% | | | | | |
Cisco Systems, Inc. * | | 17,800 | | | 372,910 |
Juniper Networks, Inc. * | | 20,300 | | | 375,144 |
Network Appliance, Inc. * | | 10,200 | | | 378,114 |
| | | | |
|
|
| | | | | | 1,126,168 |
| | | | |
|
|
Electronics — 2.9% | | | | | |
Garmin Ltd. | | 5,000 | | | 431,800 |
| | | | |
|
|
Internet Services — 11.0% | | | | | |
Akamai Technologies, Inc. * | | 8,900 | | | 299,841 |
Checkfree Corp. * | | 8,100 | | | 436,347 |
Digital Insight, Corp. * | | 1,100 | | | 37,939 |
Google, Inc. (Class A Stock) * | | 900 | | | 376,146 |
Yahoo!, Inc. * | | 14,700 | | | 481,866 |
| | | | |
|
|
| | | | | | 1,632,139 |
| | | | |
|
|
Pharmaceuticals — 3.3% | | | | | |
Amgen, Inc. * | | 2,100 | | | 142,170 |
Genentech, Inc. * | | 2,300 | | | 183,333 |
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Teva Pharmaceutical Industries Ltd., ADR (Israel) | | 3,900 | | $ | 157,950 | |
| | | | |
|
|
|
| | | | | | 483,453 | |
| | | | |
|
|
|
Semiconductors — 19.1% | | | | | | |
Advanced Micro Devices, Inc. * | | 6,700 | | | 216,745 | |
Broadcom Corp., (Class A Stock) * | | 11,000 | | | 452,210 | |
Intel Corp. | | 5,700 | | | 113,886 | |
Marvell Technology Group Ltd. * (Bermuda) | | 8,100 | | | 462,429 | |
MEMC Electronic Materials, Inc. * | | 6,400 | | | 259,840 | |
National Semiconductor Corp. | | 8,500 | | | 254,830 | |
Sirf Technology Holdings, Inc. | | 2,600 | | | 88,790 | |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | | 55,800 | | | 584,784 | |
Texas Instruments, Inc. | | 11,200 | | | 388,752 | |
| | | | |
|
|
|
| | | | | | 2,822,266 | |
| | | | |
|
|
|
Telecommunications — 16.9% | | | | | | |
Amdocs Ltd. * | | 11,400 | | | 424,080 | |
Comverse Technology, Inc. * | | 18,200 | | | 412,230 | |
Corning, Inc. * | | 26,900 | | | 743,247 | |
Motorola, Inc. | | 16,400 | | | 350,140 | |
QUALCOMM, Inc. | | 11,200 | | | 575,008 | |
| | | | |
|
|
|
| | | | | | 2,504,705 | |
| | | | |
|
|
|
Total Long-Term Investments
(Cost $10,388,782) | | | | | 14,362,974 | |
| | | | |
|
|
|
Short-Term Investment — 6.2% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (Cost $913,367) (w) | | 913,367 | | | 913,367 | |
| | | | |
|
|
|
Total Investments — 103.3%
(Cost $11,302,149; Note 5) | | | | | 15,276,341 | |
Liabilities In Excess of Other Assets — (3.3)% | | | | | (494,262 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 14,782,079 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| ADR | American Depositary Receipt |
| * | Non-income producing security. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
52
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Computer Services & Software | | 21.9 | % |
Semiconductors | | 19.1 | |
Telecommunications | | 16.9 | |
Internet Services | | 11.0 | |
Computer Hardware | | 8.5 | |
Computers - Networking | | 7.6 | |
Affiliated Money Market Mutual Fund | | 6.2 | |
Business Services | | 5.9 | |
Pharmaceuticals | | 3.3 | |
Electronics | | 2.9 | |
| | |
|
|
| | | 103.3 | % |
Liabilities In Excess of Other Assets | | (3.3 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
53
Strategic Partners Managed OTC Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 91.8% | | | | | |
Common Stocks | | | | | |
Advertising — 0.3% | | | | | |
Lamar Advertising Co. * | | 1,320 | | $ | 72,587 |
| | | | |
|
|
Automobile Manufacturers — 0.9% | | | | | |
PACCAR, Inc. | | 2,940 | | | 211,474 |
| | | | |
|
|
Biotechnology — 5.3% | | | | | |
Amgen, Inc. * | | 8,820 | | | 597,114 |
Biogen Idec, Inc. * | | 5,760 | | | 258,336 |
Genzyme Corp. * | | 4,980 | | | 304,577 |
MedImmune, Inc. * | | 4,080 | | | 128,397 |
| | | | |
|
|
| | | | | | 1,288,424 |
| | | | |
|
|
Broadcasting — 1.0% | | | | | |
Discovery Holding Co. (Class A Stock) * | | 3,660 | | | 54,534 |
Sirius Satellite Radio, Inc. | | 22,320 | | | 104,457 |
XM Satellite Radio Holdings, Inc. (Class A Stock) | | 4,140 | | | 83,711 |
| | | | |
|
|
| | | | | | 242,702 |
| | | | |
|
|
Cable Television — 0.3% | | | | | |
Liberty Global, Inc. (Class A Stock) * | | 3,720 | | | 77,041 |
| | | | |
|
|
Chemicals — 0.3% | | | | | |
Sigma-Aldrich Corp. * | | 1,020 | | | 69,982 |
| | | | |
|
|
Commercial Services — 1.5% | | | | | |
Apollo Group, Inc. (Class A Stock) * | | 2,700 | | | 147,528 |
Paychex, Inc. | | 5,580 | | | 225,376 |
| | | | |
|
|
| | | | | | 372,904 |
| | | | |
|
|
Computer Services & Software — 1.7% | | | | | |
Activision, Inc. * | | 3,840 | | | 54,489 |
Autodesk, Inc. | | 3,720 | | | 156,389 |
Cognizant Technology Solutions Corp. * | | 2,100 | | | 133,581 |
Red Hat, Inc. * | | 2,700 | | | 79,353 |
| | | | |
|
|
| | | | | | 423,812 |
| | | | |
|
|
Computers — 9.7% | | | | | |
Apple Computer, Inc. * | | 18,300 | | | 1,288,137 |
Dell, Inc. * | | 13,380 | | | 350,556 |
Network Appliance, Inc. * | | 6,060 | | | 224,644 |
Research in Motion Ltd. * | | 2,880 | | | 220,694 |
SanDisk Corp. | | 2,760 | | | 176,171 |
Sun Microsystems, Inc. | | 23,280 | | | 116,400 |
| | | | |
|
|
| | | | | | 2,376,602 |
| | | | |
|
|
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Distribution/Wholesale — 0.8% | | | | | |
CDW Corp. | | 1,320 | | $ | 78,567 |
Fastenal Co. | | 2,220 | | | 103,918 |
| | | | |
|
|
| | | | | | 182,485 |
| | | | |
|
|
Electronic Components & Equipment — 0.6% | | | | | |
American Power Conversion Corp. | | 3,060 | | | 68,054 |
Cadence Design Systems, Inc. * | | 4,620 | | | 87,457 |
| | | | |
|
|
| | | | | | 155,511 |
| | | | |
|
|
Electronics — 1.0% | | | | | |
Flextronics International Ltd. * | | 9,720 | | | 110,419 |
Garmin Ltd. | | 1,560 | | | 134,722 |
| | | | |
|
|
| | | | | | 245,141 |
| | | | |
|
|
Entertainment & Leisure — 0.5% | | | | | |
Wynn Resorts Ltd. * | | 1,680 | | | 127,865 |
| | | | |
|
|
Food — 0.5% | | | | | |
Whole Foods Market, Inc. | | 2,100 | | | 128,898 |
| | | | |
|
|
Healthcare Services — 0.2% | | | | | |
Lincare Holdings, Inc. | | 1,440 | | | 56,923 |
| | | | |
|
|
Healthcare-Products — 0.8% | | | | | |
Biomet, Inc. | | 5,160 | | | 191,849 |
| | | | |
|
|
Internet Services — 11.4% | | | | | |
Akamai Technologies, Inc. * | | 2,280 | | | 76,813 |
Amazon.Com, Inc. * | | 4,260 | | | 149,995 |
Check Point Software Technologies Ltd. * | | 3,720 | | | 71,982 |
Checkfree Corp. * | | 1,320 | | | 71,108 |
eBay, Inc. * | | 16,200 | | | 557,442 |
Expedia, Inc. * | | 5,280 | | | 98,472 |
Google, Inc. (Class A Stock) * | | 1,860 | | | 777,369 |
IAC/InterActiveCorp | | 5,160 | | | 148,969 |
Monster Worldwide, Inc. * | | 2,100 | | | 120,540 |
Symantec Corp. * | | 16,860 | | | 276,167 |
VeriSign, Inc. * | | 3,600 | | | 84,672 |
Yahoo!, Inc. * | | 10,560 | | | 346,157 |
| | | | |
|
|
| | | | | | 2,779,686 |
| | | | |
|
|
Machinery & Equipment — 0.5% | | | | | |
Joy Global, Inc. | | 1,860 | | | 122,183 |
| | | | |
|
|
Media — 2.3% | | | | | |
Comcast Corp. (Class A Stock) | | 14,760 | | | 456,822 |
EchoStar Communications Corp. (Class A Stock) | | 3,360 | | | 103,824 |
| | | | |
|
|
| | | | | | 560,646 |
| | | | |
|
|
54
| | | | | |
|
| | | Shares | | Value (Note 2) |
|
Medical Supplies & Equipment — 0.6% | | | | | |
Intuitive Surgical, Inc. | | 540 | | $ | 68,580 |
Patterson Cos, Inc. * | | 2,040 | | | 66,463 |
| | | | |
|
|
| | | | | | 135,043 |
| | | | |
|
|
Oil & Gas — 0.4% | | | | | |
Patterson-UTI Energy, Inc. | | 2,700 | | | 87,372 |
| | | | |
|
|
Pharmaceuticals — 5.5% | | | | | |
Amylin Pharmaceuticals, Inc. * | | 1,800 | | | 78,390 |
Celgene Corp. * | | 5,280 | | | 222,605 |
Express Scripts, Inc. | | 2,040 | | | 159,405 |
Gilead Sciences, Inc. * | | 7,020 | | | 403,650 |
Sepracor, Inc. * | | 1,620 | | | 72,317 |
Teva Pharmaceutical Industries Ltd., ADR (Israel) | | 9,720 | | | 393,660 |
| | | | |
|
|
| | | | | | 1,330,027 |
| | | | |
|
|
Precious Metals — 0.3% | | | | | |
Dentsply International, Inc. | | 1,140 | | | 68,024 |
| | | | |
|
|
Retail — 7.4% | | | | | |
Bed Bath & Beyond, Inc. * | | 6,180 | | | 237,003 |
Costco Wholesale, Inc. | | 3,840 | | | 209,011 |
PetSmart, Inc. | | 2,160 | | | 59,746 |
Ross Stores, Inc. | | 2,220 | | | 68,021 |
Sears Holdings Corp. * | | 2,580 | | | 370,720 |
Staples, Inc. | | 7,560 | | | 199,659 |
Starbucks Corp. * | | 16,440 | | | 612,719 |
Urban Outfitters, Inc. * | | 2,640 | | | 61,248 |
| | | | |
|
|
| | | | | | 1,818,127 |
| | | | |
|
|
Semiconductors — 11.5% | | | | | |
Altera Corp. | | 7,860 | | | 171,662 |
Applied Materials, Inc. * | | 12,720 | | | 228,324 |
ATI Technologies, Inc. * | | 3,840 | | | 59,597 |
Broadcom Corp., (Class A Stock) * | | 6,540 | | | 268,859 |
Intel Corp. | | 31,860 | | | 636,563 |
KLA-Tencor Corp. * | | 3,720 | | | 179,155 |
Lam Research Corp. | | 2,220 | | | 108,514 |
Linear Technology Corp. | | 6,300 | | | 223,650 |
Marvell Technology Group Ltd. * | | 4,260 | | | 243,203 |
Maxim Integrated Products, Inc. | | 6,960 | | | 245,410 |
Microchip Technology, Inc. | | 2,760 | | | 102,838 |
Nvidia Corp. | | 5,160 | | | 150,775 |
Xilinx, Inc. | | 7,080 | | | 195,904 |
| | | | |
|
|
| | | | | | 2,814,454 |
| | | | |
|
|
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Software — 12.8% | | | | | |
Adobe Systems, Inc. | | 9,120 | | $ | 357,504 |
BEA Systems, Inc. | | 6,360 | | | 84,270 |
Citrix Systems, Inc. | | 3,240 | | | 129,341 |
Electronic Arts, Inc. * | | 4,740 | | | 269,232 |
Fiserv, Inc. * | | 3,540 | | | 159,583 |
Intuit, Inc. * | | 3,420 | | | 185,262 |
Microsoft Corp. | | 55,020 | | | 1,328,733 |
Oracle Corp. * | | 33,300 | | | 485,847 |
Pixar, Inc. * | | 1,860 | | | 119,579 |
| | | | |
|
|
| | | | | | 3,119,351 |
| | | | |
|
|
Telecommunications — 12.2% | | | | | |
Cisco Systems, Inc. * | | 33,960 | | | 711,462 |
Comverse Technology, Inc. * | | 3,240 | | | 73,386 |
JDS Uniphase Corp. | | 29,700 | | | 103,653 |
Juniper Networks, Inc. * | | 5,700 | | | 105,336 |
NII Holdings, Inc. * | | 2,280 | | | 136,572 |
NTL, Inc. * | | 4,800 | | | 131,904 |
QUALCOMM, Inc. | | 30,900 | | | 1,586,406 |
Telefonaktiebolaget LM Ericsson, ADR (Sweden) | | 1,680 | | | 59,590 |
Tellabs, Inc. * | | 3,960 | | | 62,766 |
| | | | |
|
|
| | | | | | 2,971,075 |
| | | | |
|
|
Textiles — 0.5% | | | | | |
Cintas Corp. | | 3,120 | | | 130,978 |
| | | | |
|
|
Transportation — 1.0% | | | | | |
C.H. Robinson Worldwide, Inc. | | 2,580 | | | 114,423 |
Expeditors International of Washington, Inc. | | 1,620 | | | 138,688 |
| | | | |
|
|
| | | | | | 253,111 |
| | | | |
|
|
Total Long-Term Investments
(Cost $14,563,740) | | | | | 22,414,277 |
| | | | |
|
|
Short-Term Investment — 6.1% | | | | | |
Affiliated Money Market Mutual Fund | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (Cost $1,501,648) (w) | | 1,501,648 | | | 1,501,648 |
| | | | |
|
|
Total Investments — 97.9%
(Cost $16,065,388; Note 5) | | | | | 23,915,925 |
Other Assets In Excess of Liabilities (u) — 2.1% | | | | | 502,259 |
| | | | |
|
|
Net Assets — 100.0% | | | | $ | 24,418,184 |
| | | | |
|
|
55
Strategic Partners Managed OTC Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
The following abbreviations are used in portfolio descriptions:
| | |
ADR | | American Depositary Receipt |
| |
* | | Non-income producing security. |
| |
(u) | | Other assets in excess of liabilities includes unrealized appreciation on futures contracts as follows: |
| | | | | | | | | | | | | | |
Number of Contracts | | Type | | Expiration
Month | | Value at Trade Date | | Value at
April 30, 2005 | | Unrealized
Appreciation | |
| |
Long Positions: 48 | | NASDAQ 100 | | Jun 06 | | $ | 8,035,850 | | $ | 8,212,800 | | $ | 176,950 | (1) |
| | | | | | | | | | | | |
|
|
|
| (1) | Cash of $615,000 has been segregated with the custodian to cover requirements for open futures contracts at April 30, 2006. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and other assets in excess of liabilities shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Software | | 12.8 | % |
Telecommunications | | 12.2 | |
Semiconductors | | 11.5 | |
Internet Services | | 11.4 | |
Computers | | 9.7 | |
Retail | | 7.4 | |
Affiliated Money Market Mutual Fund | | 6.1 | |
Pharmaceuticals | | 5.5 | |
Biotechnology | | 5.3 | |
Media | | 2.3 | |
Computer Services & Software | | 1.7 | |
Commercial Services | | 1.5 | |
Broadcasting | | 1.0 | |
Electronics | | 1.0 | |
Transportation | | 1.0 | |
Automobile Manufacturers | | 0.9 | |
Distribution/Wholesale | | 0.8 | |
Healthcare-Products | | 0.8 | |
Electronic Components & Equipment | | 0.6 | |
Medical Supplies & Equipment | | 0.6 | |
Entertainment & Leisure | | 0.5 | |
Food | | 0.5 | |
Machinery & Equipment | | 0.5 | |
Textiles | | 0.5 | |
Oil & Gas | | 0.4 | |
Advertising | | 0.3 | |
Cable Television | | 0.3 | |
Chemicals | | 0.3 | |
Precious Metals | | 0.3 | |
Healthcare Services | | 0.2 | |
| | |
|
|
| | | 97.9 | % |
Other Assets In Excess of Liabilities | | 2.1 | |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
56
Strategic Partners Capital Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 99.4% | | | | | |
Common Stocks | | | | | |
Aerospace — 5.4% | | | | | |
General Dynamics Corp. | | 249,484 | | $ | 16,371,140 |
Lockheed Martin Corp. | | 111,794 | | | 8,485,165 |
United Technologies Corp. | | 136,741 | | | 8,588,702 |
| | | | |
|
|
| | | | | | 33,445,007 |
| | | | |
|
|
Cable Television — 1.4% | | | | | |
Comcast Corp. | | 284,182 | | | 8,795,433 |
| | | | |
|
|
Chemicals — 0.1% | | | | | |
Air Products & Chemicals, Inc. | | 12,317 | | | 843,961 |
| | | | |
|
|
Construction — 3.6% | | | | | |
KB Home (a) | | 148,990 | | | 9,173,314 |
Lennar Corp. (Class A Stock) (a) | | 181,346 | | | 9,961,336 |
Toll Brothers, Inc. * | | 98,922 | | | 3,180,342 |
| | | | |
|
|
| | | | | | 22,314,992 |
| | | | |
|
|
Consumer Products & Services — 4.2% | | | | | |
Procter & Gamble Co. | | 447,406 | | | 26,043,503 |
| | | | |
|
|
Entertainment & Leisure — 4.0% | | | | | |
Las Vegas Sands Corp. | | 180,478 | | | 11,696,779 |
Wynn Resorts Ltd. * (a) | | 175,000 | | | 13,319,250 |
| | | | |
|
|
| | | | | | 25,016,029 |
| | | | |
|
|
Financial – Bank & Trust — 4.2% | | | | | |
UBS AG, ADR (Switzerland) | | 224,551 | | | 26,238,784 |
| | | | |
|
|
Financial Services — 11.2% | | | | | |
Chicago Mercantile Exchange Holdings, Inc. (a) | | 34,125 | | | 15,629,250 |
Goldman Sachs Group, Inc. | | 119,910 | | | 19,220,374 |
Lehman Brothers Holdings, Inc. | | 150,774 | | | 22,789,490 |
SLM Corp. | | 223,899 | | | 11,839,779 |
| | | | |
|
|
| | | | | | 69,478,893 |
| | | | |
|
|
Food — 0.3% | | | | | |
Archer-Daniels-Midland Co. | | 49,967 | | | 1,815,801 |
| | | | |
|
|
Healthcare Services — 6.5% | | | | | |
UnitedHealth Group, Inc. | | 810,473 | | | 40,312,927 |
| | | | |
|
|
Hotels & Motels — 5.1% | | | | | |
Four Seasons Hotels, Inc. (Canada) (a) | | 281,463 | | | 15,204,631 |
MGM Mirage, Inc. * | | 363,037 | | | 16,300,362 |
| | | | |
|
|
| | | | | | 31,504,993 |
| | | | |
|
|
Insurance — 1.3% | | | | | |
Genworth Financial, Inc. (Class A Stock) | | 48,343 | | | 1,604,987 |
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Progressive Corp. | | 61,275 | | $ | 6,650,176 |
| | | | |
|
|
| | | | | | 8,255,163 |
| | | | |
|
|
Machinery & Equipment — 4.0% | | | | | |
Caterpillar, Inc. | | 248,787 | | | 18,843,128 |
Deere & Co. | | 68,431 | | | 6,006,873 |
| | | | |
|
|
| | | | | | 24,850,001 |
| | | | |
|
|
Manufacturing — 0.7% | | | | | |
Coach, Inc. * | | 137,991 | | | 4,556,463 |
| | | | |
|
|
Medical Supplies & Equipment — 2.3% | | | | | |
Genzyme Corp. * | | 91,170 | | | 5,575,957 |
Medtronic, Inc. (a) | | 176,650 | | | 8,853,698 |
| | | | |
|
|
| | | | | | 14,429,655 |
| | | | |
|
|
Metals & Mining — 2.3% | | | | | |
Companhia Vale Do Rio Doce, ADR (Brazil) | | 125,048 | | | 6,442,473 |
Peabody Energy Corp. | | 118,538 | | | 7,569,837 |
| | | | |
|
|
| | | | | | 14,012,310 |
| | | | |
|
|
Oil & Gas — 4.8% | | | | | |
Halliburton Co. | | 196,202 | | | 15,333,187 |
Schlumberger Ltd. | | 204,702 | | | 14,153,096 |
| | | | |
|
|
| | | | | | 29,486,283 |
| | | | |
|
|
Pharmaceuticals — 6.3% | | | | | |
Amylin Pharmaceuticals, Inc. * (a) | | 205,514 | | | 8,950,135 |
Genentech, Inc. * | | 377,357 | | | 30,079,126 |
| | | | |
|
|
| | | | | | 39,029,261 |
| | | | |
|
|
Railroads — 5.9% | | | | | |
Burlington North Santa Fe Corp. | | 272,119 | | | 21,641,624 |
Union Pacific Corp. | | 163,773 | | | 14,937,735 |
| | | | |
|
|
| | | | | | 36,579,359 |
| | | | |
|
|
Real Estate — 0.8% | | | | | |
St. Joe Co. (The) (a) | | 83,440 | | | 4,685,990 |
| | | | |
|
|
Restaurants — 4.0% | | | | | |
Starbucks Corp. * | | 256,786 | | | 9,570,414 |
Yum! Brands, Inc. | | 295,448 | | | 15,268,753 |
| | | | |
|
|
| | | | | | 24,839,167 |
| | | | |
|
|
Retail & Merchandising — 6.5% | | | | | |
Home Depot, Inc. | | 281,354 | | | 11,234,465 |
Lowe’s Cos., Inc. | | 301,021 | | | 18,979,374 |
Target Corp. | | 188,767 | | | 10,023,528 |
| | | | |
|
|
| | | | | | 40,237,367 |
| | | | |
|
|
57
Strategic Partners Capital Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | |
| |
| | | Shares | | Value (Note 2) | |
| |
Semiconductors — 1.2% | | | | | | |
Texas Instruments, Inc. | | 215,671 | | $ | 7,485,940 | |
| | | | |
|
|
|
Telecommunications — 7.9% | | | | | | |
America Movil, Series L ADR (Mexico) | | 252,739 | | | 9,328,597 | |
Cisco Systems, Inc. * | | 184,002 | | | 3,854,842 | |
Motorola, Inc. | | 783,927 | | | 16,736,841 | |
QUALCOMM, Inc. | | 375,952 | | | 19,301,376 | |
| | | | |
|
|
|
| | | | | | 49,221,656 | |
| | | | |
|
|
|
Transportation — 5.4% | | | | | | |
FedEx Corp. | | 291,784 | | | 33,593,092 | |
| | | | |
|
|
|
Total Long-Term Investments
(Cost $438,677,820) | | | | | 617,072,030 | |
| | | | |
|
|
|
Short-Term Investment — 14.6% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series
(Cost $90,710,848; includes $86,613,296 of cash collateral received
for securities on loan) (b)(w) | | 90,710,848 | | | 90,710,848 | |
| | | | |
|
|
|
Total Investments — 114.0%
(Cost $529,388,668; Note 5) | | | | | 707,782,878 | |
Liabilities In Excess of Other Assets — (14.0)% | | | | | (87,160,880 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 620,621,998 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| ADR | American Depositary Receipt |
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $83,385,297; cash collateral of $86,613,296 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Affiliated Money Market Mutual Fund (14.0% represents investment purchased with collateral
received from securities on loan) | | 14.6 | % |
Financial Services | | 11.2 | |
Telecommunications | | 7.9 | |
Healthcare Services | | 6.5 | |
Retail & Merchandising | | 6.5 | |
Pharmaceuticals | | 6.3 | |
Railroads | | 5.9 | |
Aerospace | | 5.4 | |
Transportation | | 5.4 | |
Hotels & Motels | | 5.1 | |
Oil & Gas | | 4.8 | |
Consumer Products & Services | | 4.2 | |
Financial - Bank & Trust | | 4.2 | |
Entertainment & Leisure | | 4.0 | |
Machinery & Equipment | | 4.0 | |
Restaurants | | 4.0 | |
Construction | | 3.6 | |
Medical Supplies & Equipment | | 2.3 | |
Metals & Mining | | 2.3 | |
Cable Television | | 1.4 | |
Insurance | | 1.3 | |
Semiconductors | | 1.2 | |
Real Estate | | 0.8 | |
Manufacturing | | 0.7 | |
Food | | 0.3 | |
Chemicals | | 0.1 | |
| | |
|
|
| | | 114.0 | % |
Liabilities In Excess of Other Assets | | (14.0 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
58
Strategic Partners Concentrated Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 100.7% | | | | | |
Common Stocks | | | | | |
Beverages — 3.8% | | | | | |
PepsiCo, Inc. | | 186,770 | | $ | 10,877,485 |
| | | | |
|
|
Biotechnology — 2.8% | | | | | |
Amgen, Inc. * | | 79,000 | | | 5,348,300 |
MedImmune, Inc. * | | 83,500 | | | 2,627,745 |
| | | | |
|
|
| | | | | | 7,976,045 |
| | | | |
|
|
Broadcasting & Cable/Satellite TV — 5.9% | | | | | |
Univision Communications, Inc. (Class A Stock) * (a) | | 285,687 | | | 10,196,169 |
XM Satellite Radio Holdings, Inc. (Class A Stock) (a) | | 326,210 | | | 6,595,966 |
| | | | |
|
|
| | | | | | 16,792,135 |
| | | | |
|
|
Commercial Services — 6.1% | | | | | |
McGraw-Hill Cos., Inc. | | 307,380 | | | 17,108,771 |
| | | | |
|
|
Computer Hardware — 0.9% | | | | | |
EMC Corp. * | | 192,680 | | | 2,603,107 |
| | | | |
|
|
Computer Services — 5.8% | | | | | |
First Data Corp. | | 343,070 | | | 16,361,008 |
| | | | |
|
|
Computer Software — 7.3% | | | | | |
Electronic Arts, Inc. * | | 164,330 | | | 9,333,944 |
Microsoft Corp. | | 465,726 | | | 11,247,283 |
| | | | |
|
|
| | | | | | 20,581,227 |
| | | | |
|
|
Computers — 2.6% | | | | | |
Research in Motion Ltd. * | | 96,890 | | | 7,424,681 |
| | | | |
|
|
Food — 1.4% | | | | | |
Wrigley, (Wm., Jr.) Co. * | | 69,100 | | | 3,252,537 |
Wrigley, (Wm., Jr.) Co., (Class B Stock) | | 17,275 | | | 816,676 |
| | | | |
|
|
| | | | | | 4,069,213 |
| | | | |
|
|
Gaming/Lodging — 8.0% | | | | | |
Carnival Corp. (a) | | 102,510 | | | 4,799,518 |
Cendant Corp. | | 368,490 | | | 6,422,781 |
Harrah’s Entertainment, Inc. | | 137,890 | | | 11,257,339 |
| | | | |
|
|
| | | | | | 22,479,638 |
| | | | |
|
|
Internet & Online — 5.0% | | | | | |
Google, Inc. (Class A Stock) * | | 16,180 | | | 6,762,269 |
Yahoo!, Inc. * | | 221,500 | | | 7,260,770 |
| | | | |
|
|
| | | | | | 14,023,039 |
| | | | |
|
|
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Medical Products — 5.0% | | | | | |
Medtronic, Inc. (a) | | 155,850 | | $ | 7,811,202 |
Stryker Corp. | | 143,600 | | | 6,282,500 |
| | | | |
|
|
| | | | | | 14,093,702 |
| | | | |
|
|
Movies & Entertainment — 3.7% | | | | | |
Time Warner, Inc. * | | 236,946 | | | 4,122,860 |
Viacom, Inc. (Class B Stock) * | | 161,395 | | | 6,428,363 |
| | | | |
|
|
| | | | | | 10,551,223 |
| | | | |
|
|
Networking/Telecom Equipment — 2.0% | | | | | |
Cisco Systems, Inc. * | | 271,210 | | | 5,681,850 |
| | | | |
|
|
Oil & Gas — 3.6% | | | | | |
Suncor Energy, Inc. | | 118,280 | | | 10,141,327 |
| | | | |
|
|
Oil Well Services & Equipment — 8.3% | | | | | |
Baker Hughes, Inc. | | 113,680 | | | 9,188,755 |
Schlumberger Ltd. | | 205,480 | | | 14,206,887 |
| | | | |
|
|
| | | | | | 23,395,642 |
| | | | |
|
|
Pharmacy Benefit Manager — 2.6% | | | | | |
Caremark Rx, Inc. * | | 160,710 | | | 7,320,340 |
| | | | |
|
|
Retailing — 4.0% | | | | | |
Lowe’s Cos., Inc. | | 90,530 | | | 5,707,917 |
Target Corp. | | 105,440 | | | 5,598,864 |
| | | | |
|
|
| | | | | | 11,306,781 |
| | | | |
|
|
Semiconductors — 6.1% | | | | | |
Linear Technology Corp. | | 178,690 | | | 6,343,495 |
Qualcomm, Inc. | | 212,460 | | | 10,907,696 |
| | | | |
|
|
| | | | | | 17,251,191 |
| | | | |
|
|
Specialty Finance — 11.2% | | | | | |
American Express Co. | | 104,650 | | | 5,631,216 |
Freddie Mac | | 295,000 | | | 18,012,700 |
Schwab, (Charles) Corp. (a) | | 442,220 | | | 7,915,738 |
| | | | |
|
|
| | | | | | 31,559,654 |
| | | | |
|
|
Telecommunications — 4.6% | | | | | |
American Tower Corp. (Class A Stock) (a) | | 192,970 | | | 6,587,996 |
Crown Castle International Corp. * (a) | | 192,110 | | | 6,464,501 |
| | | | |
|
|
| | | | | | 13,052,497 |
| | | | |
|
|
Total Long-Term Investments
(Cost $230,541,585) | | | | | 284,650,556 |
| | | | |
|
|
59
Strategic Partners Concentrated Growth Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | |
| |
| | | Shares | | Value (Note 2) | |
| |
Short-Term Investment — 10.3% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series
(Cost $29,252,394; includes $28,597,014 of cash collateral received for securities on loan) (b)(w) | | 29,252,394 | | $ | 29,252,394 | |
| | | | |
|
|
|
Total Investments — 111.0%
(Cost $259,793,979; Note 5) | | | | | 313,902,950 | |
Liabilities In Excess of Other Assets — (11.0)% | | | | | (31,159,483 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 282,743,467 | |
| | | | |
|
|
|
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $27,701,865; cash collateral of $28,597,014 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Specialty Finance | | 11.2 | % |
Affiliated Money Market Mutual Fund (10.1% represents investment purchased with collateral received from securities on loan) | | 10.3 | |
Oil Well Services & Equipment | | 8.3 | |
Gaming/Lodging | | 8.0 | |
Computer Software | | 7.3 | |
Commercial Services | | 6.1 | |
Semiconductors | | 6.1 | |
Broadcasting & Cable/Satellite TV | | 5.9 | |
Computer Services | | 5.8 | |
Internet & Online | | 5.0 | |
Medical Products | | 5.0 | |
Telecommunications | | 4.6 | |
Retailing | | 4.0 | |
Beverages | | 3.8 | |
Movies & Entertainment | | 3.7 | |
Oil & Gas | | 3.6 | |
Biotechnology | | 2.8 | |
Computers | | 2.6 | |
Pharmacy Benefit Manager | | 2.6 | |
Networking/Telecom Equipment | | 2.0 | |
Food | | 1.4 | |
Computer Hardware | | 0.9 | |
| | |
|
|
| | | 111.0 | % |
Liabilities In Excess of Other Assets | | (11.0 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
60
Strategic Partners Core Value Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 99.8% | | | | | |
Common Stocks | | | | | |
Advertising — 0.4% | | | | | |
Interpublic Group of Cos., Inc. (The) * | | 20,700 | | $ | 198,306 |
| | | | |
|
|
Aerospace — 2.2% | | | | | |
Boeing Co. | | 5,500 | | | 458,975 |
Goodrich Corp. | | 8,975 | | | 399,387 |
Northrop Grumman Corp. | | 2,600 | | | 173,940 |
| | | | |
|
|
| | | | | | 1,032,302 |
| | | | |
|
|
Automotive Parts — 1.5% | | | | | |
American Axle & Manufacturing Holdings, Inc. | | 3,700 | | | 65,157 |
Autoliv, Inc. | | 3,500 | | | 193,550 |
BorgWarner, Inc. | | 3,100 | | | 188,263 |
Cooper Tire & Rubber Co. | | 5,600 | | | 71,120 |
Lear Corp. | | 3,225 | | | 76,046 |
Magna International, Inc. (Class A Stock) | | 1,700 | | | 133,365 |
| | | | |
|
|
| | | | | | 727,501 |
| | | | |
|
|
Beverages — 1.3% | | | | | |
Coca-Cola Co. | | 11,700 | | | 490,932 |
Molson Coors Brewing Co. (Class B Stock) | | 1,000 | | | 73,860 |
PepsiCo, Inc. | | 1,000 | | | 58,240 |
| | | | |
|
|
| | | | | | 623,032 |
| | | | |
|
|
Broadcasting — 1.3% | | | | | |
CBS Corp. (Class B Stock) | | 13,600 | | | 346,392 |
Viacom, Inc. (Class B Stock) * | | 6,800 | | | 270,844 |
| | | | |
|
|
| | | | | | 617,236 |
| | | | |
|
|
Building Materials — 0.2% | | | | | |
Martin Marietta Materials, Inc. | | 700 | | | 74,312 |
| | | | |
|
|
Cable Television — 0.9% | | | | | |
Comcast Corp. (Class A Stock) * | | 13,500 | | | 417,825 |
| | | | |
|
|
Chemicals — 0.8% | | | | | |
Lubrizol Corp. (The) | | 3,900 | | | 170,079 |
PPG Industries, Inc. | | 3,200 | | | 214,784 |
| | | | |
|
|
| | | | | | 384,863 |
| | | | |
|
|
Clothing & Apparel — 0.8% | | | | | |
Jones Apparel Group, Inc. | | 7,000 | | | 240,450 |
VF Corp. | | 1,900 | | | 116,261 |
| | | | |
|
|
| | | | | | 356,711 |
| | | | |
|
|
Computer Hardware — 2.7% | | | | | |
Hewlett-Packard Co. | | 33,500 | | | 1,087,745 |
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
International Business Machines Corp. | | 2,000 | | $ | 164,680 |
| | | | |
|
|
| | | | | | 1,252,425 |
| | | | |
|
|
Computer Services & Software — 1.4% | | | | | |
Electronic Data Systems Corp. | | 15,400 | | | 417,032 |
Microsoft Corp. | | 10,300 | | | 248,745 |
| | | | |
|
|
| | | | | | 665,777 |
| | | | |
|
|
Conglomerates — 4.8% | | | | | |
Altria Group, Inc. | | 14,100 | | | 1,031,556 |
General Electric Co. | | 28,400 | | | 982,356 |
Textron, Inc. | | 2,500 | | | 224,875 |
| | | | |
|
|
| | | | | | 2,238,787 |
| | | | |
|
|
Consumer Products & Services — 1.0% | | | | | |
Clorox Co. | | 5,600 | | | 359,408 |
UST, Inc. | | 2,100 | | | 92,253 |
| | | | �� |
|
|
| | | | | | 451,661 |
| | | | |
|
|
Containers & Packaging — 1.0% | | | | | |
Crown Holdings, Inc. * | | 6,200 | | | 99,386 |
Owens-Illinois, Inc. * | | 10,450 | | | 191,026 |
Smurfit-Stone Container Corp. * | | 12,550 | | | 162,523 |
| | | | |
|
|
| | | | | | 452,935 |
| | | | |
|
|
Electronic Components & Equipment — 1.5% | | | | | |
Arrow Electronics, Inc. * | | 3,900 | | | 141,180 |
Celestica, Inc. * | | 5,900 | | | 66,434 |
Flextronics International Ltd. * (Singapore) | | 13,800 | | | 156,768 |
Sanmina-SCI Corp. * | | 35,100 | | | 182,169 |
Solectron Corp. * | | 36,500 | | | 146,000 |
| | | | |
|
|
| | | | | | 692,551 |
| | | | |
|
|
Entertainment & Leisure — 1.6% | | | | | |
Disney, (Walt) Co. | | 1,900 | | | 53,124 |
Mattel, Inc. | | 4,000 | | | 64,720 |
Time Warner, Inc. | | 37,900 | | | 659,460 |
| | | | |
|
|
| | | | | | 777,304 |
| | | | |
|
|
Farming & Agriculture — 0.2% | | | | | |
Bunge Ltd. (Bermuda) | | 1,800 | | | 96,030 |
| | | | |
|
|
Financial – Bank & Trust — 11.2% | | | | | |
Bank of America Corp. | | 38,000 | | | 1,896,960 |
BB&T Corp. | | 4,600 | | | 197,524 |
Comerica, Inc. | | 5,675 | | | 322,737 |
Huntington Bancshares, Inc. | | 13,300 | | | 321,195 |
National City Corp. | | 10,925 | | | 403,133 |
Regions Financial Corp. | | 5,000 | | | 182,550 |
SunTrust Banks, Inc. | | 1,400 | | | 108,262 |
61
Strategic Partners Core Value Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
U.S. Bancorp | | 10,300 | | $ | 323,832 |
Wachovia Corp. | | 17,000 | | | 1,017,450 |
Wells Fargo & Co. | | 7,000 | | | 480,830 |
| | | | |
|
|
| | | | | | 5,254,473 |
| | | | |
|
|
Financial Services — 16.0% | | | | | |
Citigroup, Inc. | | 46,900 | | | 2,342,655 |
Fannie Mae | | 12,225 | | | 618,585 |
Freddie Mac | | 5,900 | | | 360,254 |
Goldman Sachs Group, Inc. | | 700 | | | 112,203 |
J.P. Morgan Chase & Co. | | 27,300 | | | 1,238,874 |
KeyCorp | | 10,450 | | | 399,399 |
Lehman Brothers Holdings, Inc. | | 1,600 | | | 241,840 |
Mellon Financial Co. | | 10,800 | | | 406,404 |
Merrill Lynch & Co., Inc. | | 9,800 | | | 747,348 |
Morgan Stanley Dean Witter & Co. | | 3,200 | | | 205,760 |
PNC Financial Services Group, Inc. | | 2,500 | | | 178,675 |
Waddell & Reed Financial, Inc. (Class A Stock) | | 4,300 | | | 101,136 |
Washington Mutual, Inc. | | 13,012 | | | 586,321 |
| | | | |
|
|
| | | | | | 7,539,454 |
| | | | |
|
|
Food — 0.8% | | | | | |
Safeway, Inc. | | 9,000 | | | 226,170 |
Sara Lee Corp. | | 8,800 | | | 157,256 |
| | | | |
|
|
| | | | | | 383,426 |
| | | | |
|
|
Healthcare Providers & Services — 0.1% | | | | | |
Tenet Healthcare Corp. * | | 6,350 | | | 52,832 |
| | | | |
|
|
Industrial Products — 1.3% | | | | | |
Cooper Industries Ltd. (Class A Stock) | | 1,600 | | | 146,320 |
Crane Co. | | 4,400 | | | 185,900 |
SPX Corp. | | 5,400 | | | 295,650 |
| | | | |
|
|
| | | | | | 627,870 |
| | | | |
|
|
Insurance — 8.4% | | | | | |
ACE Ltd. (Cayman Island) | | 2,500 | | | 138,850 |
Allstate Corp. | | 900 | | | 50,841 |
American International Group, Inc. | | 8,800 | | | 574,200 |
Chubb Corp. | | 8,600 | | | 443,244 |
Genworth Financial, Inc. (Class A Stock) | | 10,800 | | | 358,560 |
Hartford Financial Services Group, Inc. (The) | | 6,600 | | | 606,738 |
MetLife, Inc. | | 7,400 | | | 385,540 |
MGIC Investment Corp. | | 1,700 | | | 120,190 |
PartnerRe Ltd. (Bermuda) | | 400 | | | 25,020 |
RenaissanceRe Holdings Ltd. (Bermuda) | | 4,800 | | | 201,840 |
|
|
| | |
| | | Shares | | Value (Note 2) |
|
St. Paul Travelers Cos., Inc. (The) | | 12,317 | | $ | 542,318 |
Torchmark Corp. | | 850 | | | 51,093 |
UnumProvident Corp. | | 12,600 | | | 255,906 |
XL Capital Ltd. (Class A Stock) (Cayman Islands) | | 3,100 | | | 204,259 |
| | | | |
|
|
| | | | | | 3,958,599 |
| | | | |
|
|
Machinery & Equipment — 0.4% | | | | | |
Eaton Corp. | | 2,700 | | | 206,955 |
| | | | |
|
|
Medical Supplies & Equipment — 0.5% | | | | | |
AmerisourceBergen Corp. | | 5,600 | | | 241,640 |
| | | | |
|
|
Oil & Gas — 13.9% | | | | | |
BP PLC, ADR (United Kingdom) | | 4,300 | | | 316,996 |
ChevronTexaco Corp. | | 15,100 | | | 921,402 |
ConocoPhillips | | 9,800 | | | 655,620 |
Diamond Offshore Drilling, Inc. | | 5,200 | | | 472,004 |
Exxon Mobil Corp. | | 47,400 | | | 2,989,992 |
GlobalSantaFe Corp. | | 7,400 | | | 452,954 |
Marathon Oil Corp. | | 4,000 | | | 317,440 |
Occidental Petroleum Corp. | | 500 | | | 51,370 |
Rowan Cos., Inc. | | 7,800 | | | 345,774 |
| | | | |
|
|
| | | | | | 6,523,552 |
| | | | |
|
|
Paper & Forest Products — 0.4% | | | | | |
Temple-Inland, Inc. | | 4,100 | | | 190,404 |
| | | | |
|
|
Pharmaceuticals — 5.0% | | | | | |
Lilly, (Eli) & Co. | | 5,000 | | | 264,600 |
Merck & Co., Inc. | | 22,500 | | | 774,450 |
Pfizer, Inc. | | 52,500 | | | 1,329,825 |
| | | | |
|
|
| | | | | | 2,368,875 |
| | | | |
|
|
Railroads — 1.7% | | | | | |
CSX Corp. | | 8,300 | | | 568,467 |
Norfolk Southern Corp. | | 4,000 | | | 216,000 |
| | | | |
|
|
| | | | | | 784,467 |
| | | | |
|
|
Restaurants — 1.1% | | | | | |
McDonald’s Corp. | | 15,000 | | | 518,550 |
| | | | |
|
|
Retail & Merchandising — 3.6% | | | | | |
Kroger Co. (The) * | | 20,200 | | | 409,252 |
Limited Brands, Inc. | | 14,600 | | | 374,344 |
Office Depot, Inc. * | | 14,600 | | | 592,468 |
SUPERVALU, Inc. | | 3,600 | | | 104,436 |
Target Corp. | | 4,000 | | | 212,400 |
| | | | |
|
|
| | | | | | 1,692,900 |
| | | | |
|
|
Semiconductors — 0.3% | | | | | |
Intel Corp. | | 7,000 | | | 139,860 |
| | | | |
|
|
62
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Telecommunications — 8.6% | | | | | |
ADC Telecommunications, Inc. * | | 8,628 | | $ | 193,181 |
American Tower Corp. (Class A Stock) * | | 2,200 | | | 75,108 |
AT&T, Inc. | | 15,100 | | | 395,771 |
BellSouth Corp. | | 22,500 | | | 760,050 |
Corning, Inc. * | | 4,300 | | | 118,809 |
Crown Castle International Corp. * | | 10,200 | | | 343,230 |
Nokia Corp. (Class A Stock), ADR (Finland) | | 12,500 | | | 283,250 |
Sprint Corp. | | 28,450 | | | 705,560 |
Tellabs, Inc. * | | 11,700 | | | 185,445 |
Verizon Communications, Inc. | | 29,350 | | | 969,430 |
| | | | |
|
|
| | | | | | 4,029,834 |
| | | | |
|
|
Utilities — 2.9% | | | | | |
American Electric Power Co., Inc. | | 9,775 | | | 327,071 |
Constellation Energy Group, Inc. | | 3,100 | | | 170,252 |
Dominion Resources, Inc. | | 5,700 | | | 426,759 |
Entergy Corp. | | 5,100 | | | 356,694 |
Wisconsin Energy Corp. | | 400 | | | 15,620 |
Xcel Energy, Inc. | | 2,600 | | | 48,984 |
| | | | |
|
|
| | | | | | 1,345,380 |
| | | | |
|
|
Total Investments — 99.8%
(Cost $36,702,239; Note 5) | | | | | 46,918,629 |
Other Assets In Excess of Liabilities — 0.2% | | | | | 85,513 |
| | | | |
|
|
Net Assets — 100.0% | | | | $ | 47,004,142 |
| | | | |
|
|
The following abbreviations are used in portfolio descriptions:
| | |
| ADR | | American Depositary Receipt |
| |
| * | | Non-income producing security. |
The industry classification of long-term portfolio holdings and other assets in excess of liabilities shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Financial Services | | 16.0 | % |
Oil & Gas | | 13.9 | |
Financial - Bank & Trust | | 11.2 | |
Telecommunications | | 8.6 | |
Insurance | | 8.4 | |
Pharmaceuticals | | 5.0 | |
Conglomerates | | 4.8 | |
Retail & Merchandising | | 3.6 | |
Utilities | | 2.9 | |
Computer Hardware | | 2.7 | |
Aerospace | | 2.2 | |
Railroads | | 1.7 | |
Entertainment & Leisure | | 1.6 | |
Automotive Parts | | 1.5 | |
Electronic Components & Equipment | | 1.5 | |
Computer Services & Software | | 1.4 | |
Beverages | | 1.3 | |
Broadcasting | | 1.3 | |
Industrial Products | | 1.3 | |
Restaurants | | 1.1 | |
Consumer Products & Services | | 1.0 | |
Containers & Packaging | | 1.0 | |
Cable Television | | 0.9 | |
Chemicals | | 0.8 | |
Clothing & Apparel | | 0.8 | |
Food | | 0.8 | |
Medical Supplies & Equipment | | 0.5 | |
Advertising | | 0.4 | |
Machinery & Equipment | | 0.4 | |
Paper & Forest Products | | 0.4 | |
Semiconductors | | 0.3 | |
Building Materials | | 0.2 | |
Farming & Agriculture | | 0.2 | |
Healthcare Providers & Services | | 0.1 | |
| | |
|
|
| | | 99.8 | % |
Other Assets In Excess of Liabilities | | 0.2 | |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
63
Strategic Partners Large Cap Core Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 100.5% | | | | | |
Common Stocks | | | | | |
Advertising — 0.1% | | | | | |
Interpublic Group of Cos., Inc. (The) * | | 13,110 | | $ | 125,594 |
| | | | |
|
|
Aerospace — 3.2% | | | | | |
Boeing Co. * | | 25,300 | | | 2,111,285 |
General Dynamics Corp. | | 14,600 | | | 958,052 |
Goodrich Corp. | | 7,500 | | | 333,750 |
Northrop Grumman Corp. | | 14,400 | | | 963,360 |
| | | | |
|
|
| | | | | | 4,366,447 |
| | | | |
|
|
Aerospace & Defense — 0.4% | | | | | |
Rockwell Collins, Inc. | | 9,300 | | | 531,960 |
| | | | |
|
|
Automobile Manufacturers — 1.0% | | | | | |
Ford Motor Co. | | 70,400 | | | 489,280 |
General Motors Corp. (a) | | 26,300 | | | 601,744 |
Toyota Motor Corp., ADR (Japan) | | 1,900 | | | 222,547 |
| | | | |
|
|
| | | | | | 1,313,571 |
| | | | |
|
|
Automotive Parts — 0.8% | | | | | |
BorgWarner, Inc. | | 6,950 | | | 422,074 |
Cooper Tire & Rubber Co. (a) | | 21,300 | | | 270,510 |
Lear Corp. (a) | | 17,200 | | | 405,576 |
| | | | |
|
|
| | | | | | 1,098,160 |
| | | | |
|
|
Beverages — 0.7% | | | | | |
Coca-Cola Co. | | 12,800 | | | 537,088 |
PepsiCo, Inc. | | 7,534 | | | 438,780 |
| | | | |
|
|
| | | | | | 975,868 |
| | | | |
|
|
Biotechnology — 2.6% | | | | | |
Amgen, Inc. * | | 22,980 | | | 1,555,746 |
Genentech, Inc. * | | 4,500 | | | 358,695 |
Gilead Sciences, Inc. * | | 21,440 | | | 1,232,800 |
MedImmune, Inc. * (a) | | 15,200 | | | 478,344 |
| | | | |
|
|
| | | | | | 3,625,585 |
| | | | |
|
|
Broadcasting — 0.8% | | | | | |
CBS Corp. (Class B Stock) | | 29,466 | | | 750,499 |
Viacom, Inc. (Class B Stock) * | | 7,966 | | | 317,286 |
| | | | |
|
|
| | | | | | 1,067,785 |
| | | | |
|
|
Building Materials — 0.8% | | | | | |
American Standard Cos., Inc. | | 15,000 | | | 652,950 |
Masco Corp. | | 12,310 | | | 392,689 |
| | | | |
|
|
| | | | | | 1,045,639 |
| | | | |
|
|
Cable Television — 0.5% | | | | | |
Comcast Corp. (Class A Stock) (a) | | 22,200 | | | 687,090 |
| | | | |
|
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Chemicals — 1.8% | | | | | |
Ashland, Inc. | | 7,900 | | $ | 519,978 |
Dow Chemical Co. | | 6,800 | | | 276,148 |
DuPont, (E.I.) de Nemours & Co. (a) | | 6,000 | | | 264,600 |
Lubrizol Corp. (The) | | 11,450 | | | 499,335 |
Lyondell Chemical Co. | | 17,800 | | | 428,980 |
PPG Industries, Inc. | | 6,300 | | | 422,856 |
| | | | |
|
|
| | | | | | 2,411,897 |
| | | | |
|
|
Clothing & Apparel — 0.5% | | | | | |
VF Corp. | | 10,912 | | | 667,705 |
| | | | |
|
|
Communication Equipment — 3.1% | | | | | |
Cisco Systems, Inc. * | | 16,250 | | | 340,437 |
Corning, Inc. * | | 39,600 | | | 1,094,148 |
Motorola, Inc. | | 30,700 | | | 655,445 |
QUALCOMM, Inc. | | 34,450 | | | 1,768,663 |
Tellabs, Inc. * | | 20,300 | | | 321,755 |
| | | | |
|
|
| | | | | | 4,180,448 |
| | | | |
|
|
Computer Hardware — 3.9% | | | | | |
Apple Computer, Inc. * | | 15,090 | | | 1,062,185 |
EMC Corp. * | | 58,470 | | | 789,929 |
Hewlett-Packard Co. | | 58,625 | | | 1,903,554 |
International Business Machines Corp. | | 18,370 | | | 1,512,586 |
| | | | |
|
|
| | | | | | 5,268,254 |
| | | | |
|
|
Computer Services & Software — 3.8% | | | | | |
Electronic Arts, Inc. * | | 20,380 | | | 1,157,584 |
Electronic Data Systems Corp. | | 19,000 | | | 514,520 |
Microsoft Corp. | | 135,300 | | | 3,267,495 |
Unisys Corp. * | | 49,150 | | | 306,696 |
| | | | |
|
|
| | | | | | 5,246,295 |
| | | | |
|
|
Conglomerates — 5.3% | | | | | |
General Electric Co. | | 159,900 | | | 5,530,941 |
Textron, Inc. | | 6,900 | | | 620,655 |
Tyco International Ltd. | | 42,490 | | | 1,119,611 |
| | | | |
|
|
| | | | | | 7,271,207 |
| | | | |
|
|
Construction — 0.2% | | | | | |
Pulte Homes, Inc. | | 8,000 | | | 298,800 |
| | | | |
|
|
Consumer Products & Services — 3.4% | | | | | |
Colgate-Palmolive Co. | | 9,470 | | | 559,866 |
Fortune Brands, Inc. | | 7,100 | | | 570,130 |
Procter & Gamble Co. | | 60,760 | | | 3,536,840 |
| | | | |
|
|
| | | | | | 4,666,836 |
| | | | |
|
|
64
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Containers & Packaging — 0.2% | | | | | |
Sonoco Products Co. | | 9,900 | | $ | 310,068 |
| | | | |
|
|
Education — 0.3% | | | | | |
Strayer Education, Inc. | | 3,900 | | | 405,561 |
| | | | |
|
|
Electrical Equipment — 0.4% | | | | | |
Emerson Electric Co. | | 3,000 | | | 254,850 |
Hubbell, Inc. (Class B Stock) | | 6,000 | | | 309,900 |
| | | | |
|
|
| | | | | | 564,750 |
| | | | |
|
|
Electronic Components & Equipment — 1.0% | | | | | |
Arrow Electronics, Inc. * | | 6,500 | | | 235,300 |
Avnet, Inc. * | | 9,700 | | | 253,655 |
Flextronics International Ltd. * | | 9,700 | | | 110,192 |
Solectron Corp. * | | 95,600 | | | 382,400 |
Tech Data Corp. * | | 11,200 | | | 411,264 |
| | | | |
|
|
| | | | | | 1,392,811 |
| | | | |
|
|
Energy – Energy Resources — 0.3% | | | | | |
Noble Energy, Inc. | | 8,600 | | | 386,828 |
| | | | |
|
|
Entertainment & Leisure — 1.8% | | | �� | | |
Disney, (Walt) Co. | | 25,360 | | | 709,066 |
Time Warner, Inc. * | | 99,500 | | | 1,731,300 |
| | | | |
|
|
| | | | | | 2,440,366 |
| | | | |
|
|
Financial – Bank & Trust — 6.6% | | | | | |
Bank of America Corp. | | 79,704 | | | 3,978,824 |
Comerica, Inc. | | 9,500 | | | 540,265 |
Commerce Bancorp, Inc. (a) | | 15,600 | | | 629,304 |
Huntington Bancshares, Inc. (a) | | 5,000 | | | 120,750 |
National City Corp. | | 29,300 | | | 1,081,170 |
SunTrust Banks, Inc. | | 9,200 | | | 711,436 |
Wachovia Corp. | | 28,900 | | | 1,729,665 |
Wells Fargo & Co. | | 4,360 | | | 299,488 |
| | | | |
|
|
| | | | | | 9,090,902 |
| | | | |
|
|
Financial Services — 11.3% | | | | | |
American Express Co. | | 7,180 | | | 386,356 |
Citigroup, Inc. | | 87,273 | | | 4,359,286 |
Fannie Mae | | 22,425 | | | 1,134,705 |
Franklin Resources, Inc. | | 6,400 | | | 595,968 |
Goldman Sachs Group, Inc. | | 3,880 | | | 621,925 |
JP Morgan Chase & Co. | | 67,542 | | | 3,065,056 |
KeyCorp | | 15,900 | | | 607,698 |
Legg Mason, Inc. | | 4,400 | | | 521,312 |
Lehman Brothers Holdings, Inc. | | 1,070 | | | 161,731 |
Merrill Lynch & Co., Inc. | | 27,300 | | | 2,081,898 |
Morgan Stanley Dean Witter & Co. | | 14,000 | | | 900,200 |
Washington Mutual, Inc. | | 22,500 | | | 1,013,850 |
| | | | |
|
|
| | | | | | 15,449,985 |
| | | | |
|
|
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Food — 1.2% | | | | | |
Albertson’s, Inc. | | 2,500 | | $ | 63,325 |
Archer-Daniels-Midland Co. | | 11,438 | | | 415,657 |
SUPERVALU, Inc. | | 7,400 | | | 214,674 |
Whole Foods Market, Inc. | | 7,500 | | | 460,350 |
Wrigley, (Wm., Jr.) Co. | | 8,800 | | | 414,216 |
Wrigley, (Wm., Jr.) Co. (Class B Stock) | | 2,200 | | | 104,005 |
| | | | |
|
|
| | | | | | 1,672,227 |
| | | | |
|
|
Healthcare Services — 2.3% | | | | | |
Caremark Rx, Inc. * | | 24,800 | | | 1,129,640 |
UnitedHealth Group, Inc. | | 39,200 | | | 1,949,808 |
| | | | |
|
|
| | | | | | 3,079,448 |
| | | | |
|
|
Industrial Products — 0.4% | | | | | |
Ingersoll-Rand Co. Ltd. (Class A Stock) | | 12,000 | | | 525,000 |
| | | | |
|
|
Insurance — 6.1% | | | | | |
ACE Ltd. (Cayman Islands) | | 12,600 | | | 699,804 |
American International Group, Inc. | | 51,199 | | | 3,340,735 |
Axis Capital Holdings Ltd. (Bermuda) | | 16,150 | | | 481,593 |
Chubb Corp. | | 8,950 | | | 461,283 |
Hartford Financial Services Group, Inc. (The) | | 3,200 | | | 294,176 |
Lincoln National Corp. (a) | | 8,100 | | | 470,448 |
Loews Corp. * | | 6,700 | | | 711,205 |
St. Paul Travelers Cos., Inc. (The) | | 20,697 | | | 911,289 |
UnumProvident Corp. (a) | | 25,100 | | | 509,781 |
XL Capital Ltd. (Class A Stock) | | 7,500 | | | 494,175 |
| | | | |
|
|
| | | | | | 8,374,489 |
| | | | |
|
|
Internet Services — 1.9% | | 38,430 | | | 1,322,376 |
eBay, Inc. * | | | | | |
Google, Inc. (Class A Stock) * | | 3,200 | | | 1,337,408 |
| | | | |
|
|
| | | | | | 2,659,784 |
| | | | |
|
|
Machinery & Equipment — 0.3% | | | | | |
Eaton Corp. | | 5,800 | | | 444,570 |
| | | | |
|
|
Medical Supplies & Equipment — 0.8% | | | | | |
Alcon, Inc. (Switzerland) | | 4,800 | | | 488,208 |
Becton Dickinson & Co. | | 10,100 | | | 636,704 |
| | | | |
|
|
| | | | | | 1,124,912 |
| | | | |
|
|
Metals & Mining — 0.2% | | | | | |
Alcan, Inc. (Canada) | | 3,700 | | | 193,362 |
Novelis, Inc. (Canada) | | 740 | | | 18,056 |
| | | | |
|
|
| | | | | | 211,418 |
| | | | |
|
|
65
Strategic Partners Large Cap Core Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | | Shares | | Value (Note 2) |
|
Oil & Gas — 7.5% | | | | | |
Baker Hughes, Inc. | | 6,100 | | $ | 493,063 |
BP PLC, ADR (United Kingdom) | | 5,495 | | | 405,091 |
ChevronTexaco Corp. | | 8,794 | | | 536,610 |
EOG Resources, Inc. | | 5,790 | | | 406,632 |
Exxon Mobil Corp. | | 79,400 | | | 5,008,552 |
FMC Technologies, Inc. * | | 6,000 | | | 327,480 |
GlobalSantaFe Corp. | | 7,700 | | | 471,317 |
Halliburton Co. | | 3,000 | | | 234,450 |
Nabors Industries Ltd. (Bermuda) * (a) | | 20,200 | | | 754,066 |
Noble Corp. (Cayman Islands) | | 8,620 | | | 680,463 |
Occidental Petroleum Corp. | | 3,900 | | | 400,686 |
Transocean, Inc. (Cayman Islands) * | | 6,340 | | | 513,984 |
| | | | |
|
|
| | | | | | 10,232,394 |
| | | | |
|
|
Personal Services — 0.3% | | | | | |
Apollo Group, Inc. (Class A Stock) * | | 7,300 | | | 398,872 |
| | | | |
|
|
Pharmaceuticals — 5.1% | | | | | |
Bristol-Meyers Squibb Co. | | 18,400 | | | 466,992 |
Johnson & Johnson | | 17,895 | | | 1,048,826 |
Lilly, (Eli) & Co. | | 36,360 | | | 1,924,171 |
Merck & Co., Inc. | | 47,300 | | | 1,628,066 |
Pfizer, Inc. | | 53,580 | | | 1,357,181 |
Wyeth | | 10,080 | | | 490,594 |
| | | | |
|
|
| | | | | | 6,915,830 |
| | | | |
|
|
Printing & Publishing — 0.2% | | | | | |
Donnelley, (R.R.) & Sons Co. | | 7,300 | | | 245,937 |
| | | | |
|
|
Railroads — 0.6% | | | | | |
CSX Corp. | | 12,300 | | | 842,427 |
| | | | |
|
|
Restaurants — 1.7% | | | | | |
McDonald’s Corp. | | 40,400 | | | 1,396,628 |
Starbucks Corp. * | | 24,900 | | | 928,023 |
| | | | |
|
|
| | | | | | 2,324,651 |
| | | | |
|
|
Retail & Merchandising — 6.0% | | | | | |
Home Depot, Inc. | | 51,700 | | | 2,064,381 |
Limited Brands, Inc. | | 18,500 | | | 474,340 |
Lowe’s Cos., Inc. | | 27,300 | | | 1,721,265 |
Target Corp. | | 34,770 | | | 1,846,287 |
Wal-Mart Stores, Inc. | | 8,370 | | | 376,901 |
Walgreen Co. | | 31,100 | | | 1,304,023 |
Williams-Sonoma, Inc. * (a) | | 9,900 | | | 414,513 |
| | | | |
|
|
| | | | | | 8,201,710 |
| | | | |
|
|
| | | | | |
|
| | | Shares | | Value (Note 2) |
|
Semiconductors — 3.2% | | | | | |
Advanced Micro Devices, Inc. * | | 20,000 | | $ | 647,000 |
Agere Systems, Inc. * | | 6,700 | | | 105,324 |
Broadcom Corp., (Class A Stock) * | | 21,075 | | | 866,393 |
Intel Corp. | | 58,500 | | | 1,168,830 |
LSI Logic Corp. * | | 16,600 | | | 176,790 |
Marvell Technology Group Ltd. * | | 10,470 | | | 597,732 |
Nvidia Corp. | | 18,000 | | | 525,960 |
Texas Instruments, Inc. | | 7,870 | | | 273,168 |
| | | | |
|
|
| | | | | | 4,361,197 |
| | | | |
|
|
Telecommunications — 3.2% | | | | | |
AT&T, Inc. | | 44,100 | | | 1,155,861 |
BellSouth Corp. | | 15,500 | | | 523,590 |
Sprint Corp. | | 58,895 | | | 1,460,596 |
Verizon Communications, Inc. | | 37,672 | | | 1,244,306 |
| | | | |
|
|
| | | | | | 4,384,353 |
| | | | |
|
|
Tobacco — 2.9% | | | | | |
Altria Group, Inc. | | 41,860 | | | 3,062,478 |
Reynolds America, Inc. | | 8,500 | | | 932,025 |
| | | | |
|
|
| | | | | | 3,994,503 |
| | | | |
|
|
Transportation — 1.1% | | | | | |
United Parcel Service, Inc. (Class B Stock) | | 18,300 | | | 1,483,581 |
| | | | |
|
|
Utilities — 0.7% | | | | | |
Dominion Resources Inc. | | 3,000 | | | 224,610 |
DTE Energy Co. | | 9,500 | | | 387,410 |
Entergy Corp. | | 1,210 | | | 84,627 |
Progress Energy, Inc. | | 6,200 | | | 265,360 |
| | | | |
|
|
| | | | | | 962,007 |
| | | | |
|
|
Total Long-Term Investments
(Cost $111,571,940) | | | | | 137,329,722 |
| | | | |
|
|
66
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Short-Term Investment — 4.3% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (Cost $5,911,195; includes $5,669,041 of cash collateral received for securities on loan) (b)(w) | | 5,911,195 | | $ | 5,911,195 | |
| | | | |
|
|
|
Total Investments — 104.8%
(Cost $117,483,135; Note 5) | | | | | 143,240,917 | |
Liabilities In Excess of Other Assets — (4.8)% | | | | | (6,496,415 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 136,744,502 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| | |
| ADR | | American Depositary Receipt |
| |
| * | | Non-income producing security. |
| |
| (a) | | All or a portion of security is on loan. The aggregate market value of such securities is $5,476,900; cash collateral of $5,669,041 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| |
| (b) | | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| |
| (w) | | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Financial Services | | 11.3 | % |
Oil & Gas | | 7.5 | |
Financial - Bank & Trust | | 6.6 | |
Insurance | | 6.1 | |
Retail & Merchandising | | 6.0 | |
Conglomerates | | 5.3 | |
Pharmaceuticals | | 5.1 | |
Affiliated Money Market Mutual Fund (4.1% represents investment purchased with collateral
received from securities on loan) | | 4.3 | |
Computer Hardware | | 3.9 | |
Computer Services & Software | | 3.8 | |
Consumer Products & Services | | 3.4 | |
Aerospace | | 3.2 | |
Semiconductors | | 3.2 | |
Telecommunications | | 3.2 | |
Communication Equipment | | 3.1 | |
Tobacco | | 2.9 | |
Biotechnology | | 2.6 | |
Healthcare Services | | 2.3 | |
Internet Services | | 1.9 | |
Chemicals | | 1.8 | |
Entertainment & Leisure | | 1.8 | |
Restaurants | | 1.7 | |
Food | | 1.2 | |
Transportation | | 1.1 | |
Automobile Manufacturers | | 1.0 | |
Electronic Components & Equipment | | 1.0 | |
Automotive Parts | | 0.8 | |
Broadcasting | | 0.8 | |
Building Materials | | 0.8 | |
Medical Supplies & Equipment | | 0.8 | |
Beverages | | 0.7 | |
Utilities | | 0.7 | |
Railroads | | 0.6 | |
Cable Television | | 0.5 | |
Clothing & Apparel | | 0.5 | |
Aerospace & Defense | | 0.4 | |
Electrical Equipment | | 0.4 | |
Industrial Products | | 0.4 | |
Education | | 0.3 | |
Energy - Energy Resources | | 0.3 | |
Machinery & Equipment | | 0.3 | |
Personal Services | | 0.3 | |
Construction | | 0.2 | |
Containers & Packaging | | 0.2 | |
Metals & Mining | | 0.2 | |
Printing & Publishing | | 0.2 | |
Advertising | | 0.1 | |
| | |
|
|
| | | 104.8 | % |
Liabilities In Excess of Other Assets | | (4.8 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
67
Strategic Partners Equity Income Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Long-Term Investments — 99.4% | | | | | |
Common Stocks | | | | | |
Aerospace & Defense — 3.0% | | | | | |
Honeywell International, Inc. | | 62,100 | | $ | 2,639,250 |
Lockheed Martin Corp. | | 10,100 | | | 766,590 |
Raytheon Co. | | 35,700 | | | 1,580,439 |
United Technologies Corp. | | 57,200 | | | 3,592,732 |
| | | | |
|
|
| | | | | | 8,579,011 |
| | | | |
|
|
Automobile Manufacturers — 0.3% | | | | | |
General Motors Corp. (a) | | 36,200 | | | 828,256 |
| | | | |
|
|
Beverages — 1.5% | | | | | |
Anheuser-Busch Cos., Inc. | | 47,000 | | | 2,095,260 |
Coca-Cola Co. | | 54,800 | | | 2,299,408 |
| | | | |
|
|
| | | | | | 4,394,668 |
| | | | |
|
|
Chemicals — 2.4% | | | | | |
Air Products & Chemicals, Inc. | | 54,100 | | | 3,706,932 |
Dow Chemical Co. | | 21,800 | | | 885,298 |
E.I. Du Pont de Nemours & Co. (a) | | 56,175 | | | 2,477,318 |
| | | | |
|
|
| | | | | | 7,069,548 |
| | | | |
|
|
Commercial Services — 0.8% | | | | | |
Waste Management, Inc. | | 60,400 | | | 2,262,584 |
| | | | |
|
|
Computer Hardware — 0.3% | | | | | |
Advanced Mirco Devices, Inc. * | | 26,200 | | | 847,570 |
| | | | |
|
|
Computer Services & Software — 6.4% | | | | | |
BEA Systems, Inc. * | | 35,000 | | | 463,750 |
EMC Corp. * | | 165,000 | | | 2,229,150 |
Fiserv, Inc. * | | 10,200 | | | 459,816 |
Hewlett-Packard Co. | �� | 28,600 | | | 928,642 |
International Business Machines Corp. | | 83,100 | | | 6,842,454 |
Microsoft Corp. | | 286,106 | | | 6,909,460 |
Sun Microsystems, Inc. | | 128,400 | | | 642,000 |
| | | | |
|
|
| | | | | | 18,475,272 |
| | | | |
|
|
Conglomerates — 3.6% | | | | | |
General Electric Co. | | 261,250 | | | 9,036,638 |
Tyco International Ltd. | | 63,800 | | | 1,681,130 |
| | | | |
|
|
| | | | | | 10,717,768 |
| | | | |
|
|
Consumer Products & Services — 3.4% | | | | | |
Avon Products, Inc. (a) | | 49,550 | | | 1,615,825 |
Colgate-Palmolive Co. | | 6,000 | | | 354,720 |
Fortune Brands, Inc. | | 46,000 | | | 3,693,800 |
Newell Rubbermaid, Inc. (a) | | 62,500 | | | 1,713,750 |
Procter & Gamble Co. | | 40,000 | | | 2,328,400 |
| | | | |
|
|
| | | | | | 9,706,495 |
| | | | |
|
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Distribution/Wholesale — 0.2% | | | | | |
Building Material Holding Corp. (a) | | 16,600 | | $ | 554,772 |
| | | | |
|
|
Financial – Bank & Trust — 7.6% | | | | | |
Bank of America Corp. | | 160,120 | | | 7,993,190 |
Bank of New York Co., Inc. (The) | | 25,000 | | | 878,750 |
Fifth Third Bancorp (a) | | 51,300 | | | 2,073,546 |
Goldman Sachs Group, Inc. | | 5,100 | | | 817,479 |
Mellon Financial Corp. | | 53,200 | | | 2,001,916 |
Northern Trust Corp. | | 32,500 | | | 1,913,925 |
State Street Corp. | | 31,600 | | | 2,064,112 |
U.S. Bancorp | | 80,600 | | | 2,534,064 |
Wachovia Corp. | | 23,500 | | | 1,406,475 |
| | | | |
|
|
| | | | | | 21,683,457 |
| | | | |
|
|
Financial Services — 12.8% | | | | | |
Ambac Financial Group, Inc. | | 4,900 | | | 403,564 |
American Express Co. | | 26,700 | | | 1,436,727 |
Ameriprise Financial, Inc. (a) | | 29,140 | | | 1,429,026 |
Citigroup, Inc. | | 194,577 | | | 9,719,121 |
Fannie Mae | | 122,139 | | | 6,180,233 |
JPMorgan Chase & Co. | | 252,349 | | | 11,451,598 |
Merrill Lynch & Co., Inc. | | 38,020 | | | 2,899,405 |
Morgan Stanley Dean Witter & Co. | | 33,671 | | | 2,165,045 |
Schwab, (Charles) Corp. | | 60,200 | | | 1,077,580 |
| | | | |
|
|
| | | | | | 36,762,299 |
| | | | |
|
|
Foods — 0.9% | | | | | |
Campbell Soup Co. | | 41,800 | | | 1,343,452 |
General Mills, Inc. | | 23,300 | | | 1,149,622 |
| | | | |
|
|
| | | | | | 2,493,074 |
| | | | |
|
|
Healthcare Services — 1.7% | | | | | |
Health Management Associates, Inc. (Class A Stock) | | 13,500 | | | 279,585 |
UnitedHealth Group, Inc. | | 6,700 | | | 333,258 |
WellPoint, Inc. * | | 58,900 | | | 4,181,900 |
| | | | |
|
|
| | | | | | 4,794,743 |
| | | | |
|
|
Hotels & Motels — 0.7% | | | | | |
Hilton Hotels Corp. | | 75,000 | | | 2,020,500 |
| | | | |
|
|
Insurance — 7.4% | | | | | |
ACE Ltd. | | 41,500 | | | 2,304,910 |
American International Group, Inc. | | 122,279 | | | 7,978,705 |
Axis Capital Holdings Ltd. (Bermuda) | | 84,979 | | | 2,534,074 |
Genworth Financial, Inc. (Class A Stock) | | 26,500 | | | 879,800 |
Hartford Financial Service Group, Inc. | | 20,300 | | | 1,866,179 |
Lincoln National Corp. (a) | | 19,200 | | | 1,115,136 |
68
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Marsh & McLennan Cos., Inc. | | 100,200 | | $ | 3,073,134 |
St. Paul Travelers Cos., Inc. (The) | | 38,500 | | | 1,695,155 |
| | | | |
|
|
| | | | | | 21,447,093 |
| | | | |
|
|
Manufacturing — 0.4% | | | | | |
Ball Corp. | | 12,000 | | | 479,760 |
ITT Industries, Inc. | | 11,000 | | | 618,530 |
| | | | |
|
|
| | | | | | 1,098,290 |
| | | | |
|
|
Media — 8.7% | | | | | |
CBS Corp. (Class B Stock) | | 48,700 | | | 1,240,389 |
Comcast Corp. (Class A Stock) (a) | | 56,500 | | | 1,748,675 |
Comcast Corp. (Special Class A Stock) (a) | | 44,400 | | | 1,368,852 |
Dow Jones & Co., Inc. | | 27,600 | | | 1,020,372 |
Liberty Media Corp. (Class A Stock) | | 253,400 | | | 2,115,890 |
New York Times Co. (Class A Stock) (a) | | 49,900 | | | 1,237,021 |
News Corp. (Class A Stock) | | 225,000 | | | 3,861,000 |
Time Warner, Inc. * | | 442,950 | | | 7,707,330 |
Viacom, Inc. (Class B Stock) | | 75,300 | | | 2,999,199 |
Walt Disney Co. (The) | | 58,000 | | | 1,621,680 |
Westwood One, Inc. * | | 20,000 | | | 193,000 |
| | | | |
|
|
| | | | | | 25,113,408 |
| | | | |
|
|
Medical Supplies & Equipment — 0.6% | | | | | |
Boston Scientific Corp. *(a) | | 48,600 | | | 1,129,464 |
Forest Laboratories, Inc. * | | 15,000 | | | 605,700 |
| | | | |
|
|
| | | | | | 1,735,164 |
| | | | |
|
|
Metals & Mining — 0.3% | | | | | |
Nucor Corp. | | 8,400 | | | 914,088 |
| | | | |
|
|
Oil & Gas — 11.6% | | | | | |
Baker Hughes, Inc. | | 59,245 | | | 4,788,773 |
ChevronTexaco Corp. | | 97,313 | | | 5,938,039 |
ConocoPhillips | | 17,501 | | | 1,170,817 |
Exxon Mobil Corp. | | 115,962 | | | 7,314,883 |
GlobalSantaFe Corp. | | 1,300 | | | 79,573 |
Murphy Oil Corp. | | 37,800 | | | 1,896,804 |
Nabors Industries Ltd. *(a) | | 59,800 | | | 2,232,334 |
NiSource, Inc. * | | 93,100 | | | 1,965,341 |
Noble Energy, Inc. | | 50,851 | | | 2,287,278 |
Royal Dutch Shell PLC, ADR (Netherlands) | | 22,500 | | | 1,532,925 |
Total SA, ADR (France) | | 29,900 | | | 4,126,798 |
| | | | |
|
|
| | | | | | 33,333,565 |
| | | | |
|
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Paper & Forest Products — 1.0% | | | | | |
Bowater, Inc. | | 28,200 | | $ | 769,014 |
International Paper Co. | | 60,700 | | | 2,206,445 |
| | | | |
|
|
| | | | | | 2,975,459 |
| | | | |
|
|
Pharmaceuticals — 5.0% | | | | | |
Bristol-Meyers Squibb Co. | | 50,300 | | | 1,276,614 |
Eli Lilly & Co. | | 16,500 | | | 873,180 |
Johnson & Johnson | | 34,100 | | | 1,998,601 |
Merck & Co., Inc. | | 102,700 | | | 3,534,934 |
Pfizer, Inc. | | 126,930 | | | 3,215,137 |
Schering-Plough Corp. | | 68,100 | | | 1,315,692 |
Wyeth | | 43,100 | | | 2,097,677 |
| | | | |
|
|
| | | | | | 14,311,835 |
| | | | |
|
|
Restaurants — 0.5% | | | | | |
McDonald’s Corp. | | 38,500 | | | 1,330,945 |
| | | | |
|
|
Retail & Merchandising — 3.6% | | | | | |
CVS Corp. | | 5,900 | | | 175,348 |
Gap, Inc. | | 20,000 | | | 361,800 |
Home Depot, Inc. | | 163,300 | | | 6,520,569 |
Lowe’s Cos., Inc. | | 11,300 | | | 712,465 |
RadioShack Corp. (a) | | 50,100 | | | 851,700 |
Wal-Mart Stores, Inc. | | 36,500 | | | 1,643,595 |
| | | | |
|
|
| | | | | | 10,265,477 |
| | | | |
|
|
Semiconductors & Semiconductor Equipment — 1.3% | | | | | |
Applied Materials, Inc. * | | 70,000 | | | 1,256,500 |
Intel Corp. | | 74,000 | | | 1,478,520 |
KLA-Tencor Corp. * | | 23,900 | | | 1,151,024 |
| | | | |
|
|
| | | | | | 3,886,044 |
| | | | |
|
|
Technology — 0.1% | | | | | |
Check Point Software Technologies Ltd. * | | 11,500 | | | 222,525 |
| | | | |
|
|
Telecommunications — 6.0% | | | | | |
Alltel Corp. | | 19,000 | | | 1,223,030 |
AT&T, Inc. | | 166,300 | | | 4,358,723 |
BellSouth Corp. | | 30,000 | | | 1,013,400 |
Cisco Systems, Inc. | | 116,900 | | | 2,449,055 |
Juniper Networks, Inc. * | | 11,300 | | | 208,824 |
Motorola, Inc. | | 35,000 | | | 747,250 |
Qwest Communications International, Inc. (a) | | 169,700 | | | 1,138,687 |
Sprint Nextel Corp. | | 83,600 | | | 2,073,280 |
Verizon Communications, Inc. | | 123,526 | | | 4,080,064 |
| | | | |
|
|
| | | | | | 17,292,313 |
| | | | |
|
|
69
Strategic Partners Equity Income Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Tobacco — 1.6% | | | | | | |
Altria Group, Inc. * | | 45,974 | | $ | 3,363,458 | |
Loews Corp. - Carolina Group | | 25,000 | | | 1,281,000 | |
| | | | |
|
|
|
| | | | | | 4,644,458 | |
| | | | |
|
|
|
Transportation — 2.6% | | | | | | |
Union Pacific Corp. | | 41,904 | | | 3,822,064 | |
United Parcel Service, Inc. (Class B Stock) | | 45,000 | | | 3,648,150 | |
| | | | |
|
|
|
| | | | | | 7,470,214 | |
| | | | |
|
|
|
Utilities — 3.1% | | | | | | |
Duke Energy Corp. | | 77,000 | | | 2,242,240 | |
Emerson Electric Co. | | 29,400 | | | 2,497,530 | |
FirstEnergy Corp. | | 49,375 | | | 2,503,806 | |
Illinois Tool Works, Inc. (a) | | 11,500 | | | 1,181,050 | |
| | | | |
|
|
|
| | | | | | 8,424,626 | |
| | | | |
|
|
|
Total Long-Term Investments
(Cost $235,243,134) | | | | | 285,655,521 | |
| | | | |
|
|
|
Short-Term Investment — 7.5% | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (b)(w) (Cost $21,598,843; includes $19,002,305 of cash collateral received for securities on loan) | | 21,598,843 | | | 21,598,843 | |
| | | | |
|
|
|
Total Investments — 106.9%
(Cost $256,841,977) | | | | | 307,254,364 | |
Liabilities In Excess of Other Assets — (6.9)% | | | | | (19,759,125 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 287,495,239 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| | |
| ADR | | American Depositary Receipt |
| |
| * | | Non-income producing security. |
| |
| (a) | | All or a portion of security is on loan. The aggregate market value of such securities is $18,395,100; cash collateral of $19,002,305 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| |
| (b) | | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| |
| (w) | | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investment and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Financial Services | | 12.8 | % |
Oil & Gas | | 11.6 | |
Media | | 8.7 | |
Financial - Bank & Trust | | 7.6 | |
Affiliated Money Market Mutual Fund (6.6% represents investment purchased with collateral received from securities on loan) | | 7.5 | |
Insurance | | 7.4 | |
Computer Services & Software | | 6.4 | |
Telecommunications | | 6.0 | |
Pharmaceuticals | | 5.0 | |
Conglomerates | | 3.6 | |
Retail & Merchandising | | 3.6 | |
Consumer Products & Services | | 3.4 | |
Utilities | | 3.1 | |
Aerospace & Defense | | 3.0 | |
Transportation | | 2.6 | |
Chemicals | | 2.4 | |
Healthcare Services | | 1.7 | |
Tobacco | | 1.6 | |
Beverages | | 1.5 | |
Semiconductors & Semiconductor Equipment | | 1.3 | |
Paper & Forest Products | | 1.0 | |
Foods | | 0.9 | |
Commercial Services | | 0.8 | |
Hotels & Motels | | 0.7 | |
Medical Supplies & Equipment | | 0.6 | |
Restaurants | | 0.5 | |
Manufacturing | | 0.4 | |
Automobile Manufacturers | | 0.3 | |
Computer Hardware | | 0.3 | |
Metals & Mining | | 0.3 | |
Distribution/Wholesale | | 0.2 | |
Technology | | 0.1 | |
| | |
|
|
| | | 106.9 | % |
Liabilities In Excess of Other Assets | | (6.9 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
70
Strategic Partners Balanced Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
| Long-Term Investments — 101.8% | | | | | |
Common Stocks — 61.6% | | | | | |
Aerospace — 1.7% | | | | | |
Boeing Co. * | | 15,990 | | $ | 1,334,365 |
Lockheed Martin Corp. | | 5,092 | | | 386,483 |
| | | | |
|
|
| | | | | | 1,720,848 |
| | | | |
|
|
Airlines | | | | | |
Southwest Airlines Co. | | 3,044 | | | 49,374 |
| | | | |
|
|
Automobile Manufacturers — 0.2% | | | | | |
Navistar International Corp. * | | 6,062 | | | 159,916 |
| | | | |
|
|
Automotive Parts — 0.5% | | | | | |
Goodyear Tire & Rubber Co. (The) * | | 20,316 | | | 284,424 |
Group 1 Automotive, Inc. | | 4,471 | | | 244,027 |
| | | | |
|
|
| | | | | | 528,451 |
| | | | |
|
|
Beverages — 2.4% | | | | | |
Brown-Forman Corp. | | 3,622 | | | 269,839 |
Coca-Cola Co. | | 26,416 | | | 1,108,415 |
Pepsi Bottling Group, Inc. | | 15,963 | | | 512,412 |
PepsiAmericas, Inc. | | 13,280 | | | 313,674 |
PepsiCo, Inc. | | 3,985 | | | 232,087 |
| | | | |
|
|
| | | | | | 2,436,427 |
| | | | |
|
|
Biotechnology | | | | | |
Biogen Idec, Inc. * | | 641 | | | 28,749 |
| | | | |
|
|
Broadcasting — 0.2% | | | | | |
CBS Corp. (Class B Stock) | | 3,942 | | | 100,403 |
Viacom, Inc. (Class B Stock) * | | 3,763 | | | 149,880 |
| | | | |
|
|
| | | | | | 250,283 |
| | | | |
|
|
Building Materials — 0.5% | | | | | |
USG Corp. * | | 4,271 | | | 456,869 |
| | | | |
|
|
Business Services — 1.4% | | | | | |
Accenture Ltd. (Class A Stock) * | | 21,859 | | | 635,441 |
Acxiom Corp. | | 19,571 | | | 507,280 |
Corporate Executive Board Co. (The) | | 57 | | | 6,106 |
Harland, (John H.) Co. | | 6,368 | | | 263,954 |
| | | | |
|
|
| | | | | | 1,412,781 |
| | | | |
|
|
Chemicals — 1.0% | | | | | |
Celanese Corp. | | 12,452 | | | 273,322 |
Lyondell Chemical Co. | | 18,551 | | | 447,079 |
UAP Holding Corp. | | 6,491 | | | 134,104 |
Westlake Chemical Corp. | | 4,557 | | | 138,305 |
| | | | |
|
|
| | | | | | 992,810 |
| | | | |
|
|
Clothing & Apparel — 0.1% | | | | | |
Brown Shoe Co., Inc. | | 2,103 | | | 79,977 |
| | | | |
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Computer Hardware — 3.0% | | | | | |
Apple Computer, Inc. * | | 1,369 | | $ | 96,364 |
Dell, Inc. * | | 1,757 | | | 46,033 |
Hewlett-Packard Co. | | 39,701 | | | 1,289,092 |
International Business Machines Corp. | | 19,594 | | | 1,613,370 |
| | | | |
|
|
| | | | | | 3,044,859 |
| | | | |
|
|
Computer Services & Software — 1.1% | | | | | |
Autodesk, Inc. | | 2,927 | | | 123,051 |
Cadence Design Systems, Inc. * | | 2,655 | | | 50,259 |
Computer Sciences Corp. * | | 403 | | | 23,595 |
Global Payments, Inc. | | 10,283 | | | 487,723 |
Intuit, Inc. * | | 2,841 | | | 153,897 |
Microsoft Corp. | | 10,598 | | | 255,942 |
Oracle Corp. * | | 3,829 | | | 55,865 |
| | | | |
|
|
| | | | | | 1,150,332 |
| | | | |
|
|
Conglomerates — 0.1% | | | | | |
Danaher Corp. | | 98 | | | 6,283 |
Teleflex, Inc. | | 1,953 | | | 127,414 |
| | | | |
|
|
| | | | | | 133,697 |
| | | | |
|
|
Construction — 0.1% | | | | | |
Building Material Holding Corp. | | 3,059 | | | 102,232 |
| | | | |
|
|
Consumer Products & Services — 1.3% | | | | | |
Colgate-Palmolive Co. | | 17,979 | | | 1,062,918 |
Johnson & Johnson | | 1,794 | | | 105,146 |
Loews Corp. - Carolina Group | | 1,958 | | | 100,328 |
Procter & Gamble Co. | | 498 | | | 28,989 |
| | | | |
|
|
| | | | | | 1,297,381 |
| | | | |
|
|
Electric — 0.4% | | | | | |
Pepco Holdings, Inc. | | 18,662 | | | 430,719 |
| | | | |
|
|
Electronic Components & Equipment — 1.3% | | | | | |
Arrow Electronics, Inc. * | | 16,622 | | | 601,716 |
AVX Corp. | | 2,357 | | | 41,955 |
Emerson Electric Co. | | 104 | | | 8,835 |
Jabil Circuit, Inc. * | | 7,423 | | | 289,423 |
Plexus Corp. * | | 3,560 | | | 155,073 |
WESCO International, Inc. * | | 2,754 | | | 206,550 |
| | | | |
|
|
| | | | | | 1,303,552 |
| | | | |
|
|
Entertainment & Leisure — 1.3% | | | | | |
Disney, (Walt) Co. | | 19,269 | | | 538,761 |
DreamWorks Animation SKG, Inc. (Class A Stock) * | | 8,991 | | | 243,656 |
Royal Caribbean Cruises Ltd. | | 890 | | | 37,193 |
Time Warner, Inc. * | | 30,742 | | | 534,911 |
| | | | |
|
|
| | | | | | 1,354,521 |
| | | | |
|
|
71
Strategic Partners Balanced Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | |
|
| | |
| | | Shares | | Value (Note 2) |
|
Environmental Services — 0.1% | | | | | |
Republic Services, Inc. | | 1,296 | | $ | 57,037 |
Waste Management, Inc. | | 179 | | | 6,705 |
| | | | |
|
|
| | | | | | 63,742 |
| | | | |
|
|
Farming & Agriculture — 0.2% | | | | | |
Monsanto Co. | | 1,955 | | | 163,047 |
| | | | |
|
|
Financial – Bank & Trust — 4.8% | | | | | |
Bank of America Corp. | | 20,993 | | | 1,047,970 |
Corus Bankshares, Inc. | | 5,691 | | | 380,955 |
Downey Financial Corp. | | 4,252 | | | 305,209 |
Golden West Financial Corp. | | 5,405 | | | 388,457 |
Mellon Financial Corp. | | 11,409 | | | 429,321 |
Northern Trust Corp. | | 6,758 | | | 397,979 |
State Street Corp. | | 2,933 | | | 191,584 |
Wachovia Corp. | | 9,475 | | | 567,079 |
Wells Fargo & Co. | | 16,096 | | | 1,105,634 |
| | | | |
|
|
| | | | | | 4,814,188 |
| | | | |
|
|
Financial Services — 6.0% | | | | | |
American Express Co. | | 14,177 | | | 762,864 |
AmeriCredit Corp. | | 19,799 | | | 599,514 |
Capital One Financial Corp. | | 12,373 | | | 1,071,997 |
Citigroup, Inc. | | 158 | | | 7,892 |
Federated Investors, Inc. | | 1,684 | | | 59,108 |
Goldman Sachs Group, Inc. | | 8,066 | | | 1,292,899 |
Lehman Brothers Holdings, Inc. | | 6,181 | | | 934,258 |
Moody’s Corp. | | 3,994 | | | 247,668 |
Morgan Stanley Dean Witter & Co. | | 5,057 | | | 325,165 |
PNC Financial Services Group, Inc. | | 746 | | | 53,317 |
Raymond James Financial, Inc. | | 13,501 | | | 409,755 |
Washington Mutual, Inc. | | 7,674 | | | 345,791 |
| | | | |
|
|
| | | | | | 6,110,228 |
| | | | |
|
|
Food — 1.7% | | | | | |
Campbell Soup Co. | | 13,226 | | | 425,084 |
General Mills, Inc. | | 11,836 | | | 583,988 |
Kroger Co. (The) * | | 23,061 | | | 467,216 |
Seaboard Corp. | | 132 | | | 203,544 |
| | | | |
|
|
| | | | | | 1,679,832 |
| | | | |
|
|
Healthcare Services — 1.7% | | | | | |
Humana, Inc. | | 347 | | | 15,677 |
McKesson Corp. | | 18,372 | | | 892,696 |
Sierra Health Services, Inc. * | | 3,320 | | | 130,177 |
UnitedHealth Group, Inc. | | 14,672 | | | 729,785 |
| | | | |
|
|
| | | | | | 1,768,335 |
| | | | |
|
|
Hotels & Motels — 0.5% | | | | | |
Choice Hotels International, Inc. | | 8,859 | | | 474,222 |
| | | | |
|
|
|
| | |
| | | Shares | | Value (Note 2) |
|
Insurance — 2.8% | | | | | |
ACE Ltd. | | 4,763 | | $ | 264,537 |
Aetna, Inc. * | | 372 | | | 14,322 |
Arch Capital Group Ltd. * | | 3,328 | | | 202,176 |
Berkley, (W.R.) Corp. | | 23,905 | | | 894,525 |
Chubb Corp. | | 9,162 | | | 472,209 |
First American Corp. | | 17,063 | | | 726,884 |
LandAmerica Financial Group, Inc. | | 1,844 | | | 127,937 |
Zenith National Insurance Corp. | | 3,914 | | | 172,686 |
| | | | |
|
|
| | | | | | 2,875,276 |
| | | | |
|
|
Internet Services — 0.2% | | | | | |
Google, Inc. (Class A Stock) * | | 69 | | | 28,838 |
RealNetworks, Inc. * | | 16,170 | | | 162,023 |
| | | | |
|
|
| | | | | | 190,861 |
| | | | |
|
|
Machinery & Equipment — 0.9% | | | | | |
Cummins, Inc. | | 9,045 | | | 945,203 |
| | | | |
|
|
Medical Supplies & Equipment — 2.0% | | | | | |
Abbott Laboratories | | 469 | | | 20,045 |
Alcon, Inc. (Switzerland) | | 207 | | | 21,054 |
Amgen, Inc. * | | 14,575 | | | 986,728 |
Applera Corp. - Applied Biosystems Group | | 3,692 | | | 106,477 |
Becton Dickinson & Co. | | 11,383 | | | 717,584 |
Kinetic Concepts, Inc. * | | 2,906 | | | 126,876 |
Medtronic, Inc. | | 326 | | | 16,339 |
| | | | |
|
|
| | | | | | 1,995,103 |
| | | | |
|
|
Metals & Mining — 1.5% | | | | | |
Cleveland-Cliffs, Inc. | | 305 | | | 26,105 |
Freeport-McMoRan Copper & Gold, Inc. (Class B Stock) | | 8,153 | | | 526,521 |
Nucor Corp. | | 7,185 | | | 781,872 |
Quanex Corp. | | 1,921 | | | 82,142 |
Reliance Steel & Aluminum Co. | | 1,074 | | | 95,532 |
| | | | |
|
|
| | | | | | 1,512,172 |
| | | | |
|
|
Oil & Gas — 7.0% | | | | | |
ChevronTexaco Corp. | | 8,360 | | | 510,127 |
ConocoPhillips | | 8,459 | | | 565,907 |
Exxon Mobil Corp. | | 45,251 | | | 2,854,433 |
Frontier Oil Corp. | | 139 | | | 8,414 |
Kerr-McGee Corp. | | 10,068 | | | 1,005,390 |
Marathon Oil Corp. | | 5,794 | | | 459,812 |
Occidental Petroleum Corp. | | 1,705 | | | 175,172 |
Sunoco, Inc. | | 9,623 | | | 779,848 |
Tesoro Corp. * | | 1,074 | | | 75,094 |
Valero Energy Corp. | | 10,519 | | | 681,000 |
| | | | |
|
|
| | | | | | 7,115,197 |
| | | | |
|
|
72
| | | | | | |
|
| | | Shares | | Value (Note 2) |
|
Paper & Forest Products — 0.4% | | | | | | |
Louisiana-Pacific Corp. | | | 13,087 | | $ | 360,939 |
| | | | | |
|
|
Personal Services — 0.2% | | | | | | |
Education Management, Corp. * | | | 4,814 | | | 204,402 |
| | | | | |
|
|
Pharmaceuticals — 3.3% | | | | | | |
Alkermes, Inc. * | | | 10,859 | | | 233,143 |
Alpharma, Inc. (Class A Stock) | | | 5,066 | | | 132,982 |
AmerisourceBergen Corp. | | | 22,837 | | | 985,417 |
Cardinal Health, Inc. | | | 11,748 | | | 791,228 |
Express Scripts, Inc. | | | 6,678 | | | 521,819 |
Genentech, Inc. * | | | 173 | | | 13,790 |
Gilead Sciences, Inc. * | | | 2,916 | | | 167,670 |
King Pharmaceuticals, Inc. * | | | 22,405 | | | 389,623 |
Merck & Co., Inc. | | | 3,267 | | | 112,450 |
Pfizer, Inc. | | | 662 | | | 16,768 |
| | | | | |
|
|
| | | | | | | 3,364,890 |
| | | | | |
|
|
Printing & Publishing — 0.1% | | | | | | |
Wiley, (John) & Sons, Inc. | | | 2,328 | | | 85,298 |
| | | | | |
|
|
Railroads — 0.1% | | | | | | |
Burlington North Santa Fe Corp. | | | 233 | | | 18,531 |
Norfolk Southern Corp. | | | 331 | | | 17,874 |
Union Pacific Corp. | | | 981 | | | 89,477 |
| | | | | |
|
|
| | | | | | | 125,882 |
| | | | | |
|
|
Real Estate Investment Trust — 0.7% | | | | | | |
CBL & Associates Properties, Inc. | | | 15,443 | | | 617,566 |
Taubman Centers, Inc. | | | 1,287 | | | 52,947 |
| | | | | |
|
|
| | | | | | | 670,513 |
| | | | | |
|
|
Restaurants — 1.1% | | | | | | |
Darden Restaurants, Inc. | | | 17,145 | | | 678,942 |
Domino’s Pizza, Inc. | | | 2,405 | | | 63,324 |
Papa John’s International, Inc. * | | | 2,208 | | | 73,791 |
Yum! Brands, Inc. | | | 5,946 | | | 307,289 |
| | | | | |
|
|
| | | | | | | 1,123,346 |
| | | | | |
|
|
Retail & Merchandising — 3.3% | | | | | | |
Barnes & Noble, Inc. * | | | 18,607 | | | 838,804 |
Dollar Tree Stores, Inc. * | | | 7,548 | | | 196,776 |
Home Depot, Inc. | | | 10,848 | | | 433,161 |
J.C. Penney Co., Inc. | | | 14,128 | | | 924,819 |
Longs Drug Stores Corp. | | | 7,181 | | | 340,451 |
Lowe’s Cos., Inc. | | | 5,883 | | | 370,923 |
Pantry, Inc. (The) * | | | 1,060 | | | 70,161 |
Payless Shoesource, Inc. * | | | 6,226 | | | 143,011 |
SUPERVALU, Inc. | | | 1,399 | | | 40,585 |
Target Corp. | | | 117 | | | 6,213 |
| | | | | |
|
|
| | | | | | | 3,364,904 |
| | | | | |
|
|
Semiconductors — 1.3% | | | | | | |
Lam Research Corp. | | | 6,193 | | $ | 302,714 |
National Semiconductor Corp. | | | 26,944 | | | 807,781 |
ON Semiconductor Corp. * | | | 6,128 | | | 43,938 |
Texas Instruments, Inc. | | | 6,051 | | | 210,030 |
| | | | | |
|
|
| | | | | | | 1,364,463 |
| | | | | |
|
|
Software | | | | | | |
BMC Software, Inc. * | | | 1,954 | | | 42,089 |
| | | | | |
|
|
Telecommunications — 2.2% | | | | | | |
AT&T, Corp. | | | 10,108 | | | 264,931 |
BellSouth Corp. | | | 6,383 | | | 215,618 |
CenturyTel, Inc. | | | 470 | | | 17,719 |
Cisco Systems, Inc. * | | | 32,891 | | | 689,066 |
Motorola, Inc. | | | 4,354 | | | 92,958 |
Sprint Corp. | | | 21,563 | | | 534,762 |
Verizon Communications, Inc. | | | 10,788 | | | 356,328 |
West Corp. * | | | 663 | | | 30,710 |
| | | | | |
|
|
| | | | | | | 2,202,092 |
| | | | | |
|
|
Transportation — 0.4% | | | | | | |
FedEx Corp. | | | 494 | | | 56,874 |
United Parcel Service, Inc. (Class B Stock) | | | 3,722 | | | 301,743 |
| | | | | |
|
|
| | | | | | | 358,617 |
| | | | | |
|
|
Utilities — 2.5% | | | | | | |
AES Corp. * | | | 39,793 | | | 675,287 |
FirstEnergy Corp. | | | 11,923 | | | 604,615 |
OGE Energy Corp. | | | 223 | | | 6,726 |
TXU Corp. | | | 22,616 | | | 1,122,432 |
UGI Corp. | | | 3,111 | | | 69,687 |
Vectren Corp. | | | 2,395 | | | 63,994 |
| | | | | |
|
|
| | | | | | | 2,542,741 |
| | | | | |
|
|
Total Common Stocks
(Cost $52,490,356) | | | | | | 62,451,360 |
| | | | | |
|
|
| | |
| | | Principal
Amount
(000)
| | |
U.S. Government Agency Mortgage-Backed Securities — 20.4% | | | | | | |
Federal Home Loan Bank | | | | | | |
4.625%, 09/11/20 | | $ | 300 | | | 269,871 |
Federal Home Loan Mortgage Corp. | | | | | | |
4.50%, 12/15/14 - 01/01/19 | | | 1,191 | | | 1,151,575 |
5.00%, 09/17/07 - 02/15/16 | | | 2,169 | | | 2,155,447 |
5.30%, 05/12/20 | | | 500 | | | 467,967 |
5.50%, 03/28/16 - 12/01/33 | | | 872 | | | 854,724 |
73
Strategic Partners Balanced Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
| | | | | Principal
Amount
(000) | | Value (Note 2) |
|
6.50%, 06/01/16 - 06/01/31 | | | | $ | 312 | | $ | 317,858 |
7.00%, 03/15/10 - 08/01/29 | | | | | 1,215 | | | 1,285,473 |
Federal National Mortgage Assoc. | | | | | | | | |
4.50%, 10/15/08 - 05/01/19 | | | | | 727 | | | 708,300 |
4.75%, 08/03/07 | | | | | 940 | | | 935,142 |
5.00%, 05/15/19 - 11/01/33 | | | | | 960 | | | 912,662 |
5.00%, TBA | | | | | 1,166 | | | 1,102,599 |
5.25%, 04/15/07 | | | | | 1,513 | | | 1,513,734 |
5.50%, 12/01/16 - 01/01/34 | | | | | 2,784 | | | 2,710,158 |
5.50%, TBA | | | | | 750 | | | 744,140 |
5.80%, 02/09/26 | | | | | 1,100 | | | 1,061,639 |
6.00%, 12/01/13 - 05/15/34 | | | | | 2,104 | | | 2,097,419 |
6.50%, 07/01/29 - 01/01/32 | | | | | 323 | | | 329,363 |
6.625%, 09/15/09 - 11/15/30 | | | | | 995 | | | 1,079,979 |
7.00%, 05/01/11 - 06/01/32 | | | | | 357 | | | 367,475 |
7.50%, 07/01/29 - 09/01/30 | | | | | 68 | | | 70,851 |
Government National Mortgage Assoc. | | | | | | | | |
6.00%, 08/15/28 | | | | | 35 | | | 35,261 |
6.50%, 05/15/28 - 03/15/29 | | | | | 291 | | | 300,099 |
7.00%, 08/15/29 - 05/15/31 | | | | | 119 | | | 123,411 |
7.50%, 05/15/30 | | | | | 38 | | | 39,803 |
| | | | | | | |
|
|
Total U.S. Government Agency Mortgage-Backed Securities
(Cost $20,961,329) | | | | | | | | 20,634,950 |
| | | | | | | |
|
|
U.S. Treasury Obligations — 6.6% | | | | | | | | |
U.S. Treasury Bonds | | | | | | | | |
4.50%, 02/28/11 - 02/15/36 | | | | | 3,445 | | | 3,348,803 |
7.125%, 02/15/23 | | | | | 1,050 | | | 1,259,836 |
8.125%, 08/15/21 | | | | | 1,295 | | | 1,676,216 |
U.S. Treasury Inflationary Bond TIPS | | | | | | | | |
2.00%, 01/15/16 | | | | | 400 | | | 386,703 |
| | | | | | | |
|
|
Total U.S. Treasury Obligations
(Cost $6,847,732) | | | | | | | | 6,671,558 |
| | | | | | | |
|
|
| | | |
| | | Moody’s
Ratings
(Unaudited)
| | | | |
Corporate Obligations — 6.6% | | | | | | | | |
Aerospace — 0.1% | | | | | | | | |
Lockheed Martin Corp., Bonds | | | | | | | | |
8.50%, 12/01/29 | | Baa1 | | | 36 | | | 45,551 |
| | | | | | | |
|
|
Automobile Manufacturers | | | | | | | | |
DaimlerChrysler NA, Gtd. Notes | | | | | | | | |
8.50%, 01/18/31 | | A3 | | | 36 | | | 41,732 |
| | | | | | | |
|
|
|
|
| | | |
| | | Moody’s
Ratings
(Unaudited) | | Principal
Amount
(000) | | Value (Note 2) |
|
Beverages — 0.2% | | | | | | | | |
Miller Brewing Co., Notes 144A (g) | | | | | | | | |
4.25%, 08/15/08 | | Baa1 | | $ | 200 | | $ | 194,881 |
| | | | | | | |
|
|
Biotechnology Healthcare | | | | | | | | |
Residential Capital, Sr. Notes | | | | | | | | |
6.50%, 04/17/13 | | Baa3 | | | 30 | | | 29,901 |
| | | | | | | |
|
|
Broadcasting — 0.3% | | | | | | | | |
Cox Communications, Inc., Notes | | | | | | | | |
7.125%, 10/01/12 | | Baa3 | | | 150 | | | 157,457 |
News America Holdings Co., Gtd. Notes | | | | | | | | |
7.75%, 01/20/24 | | Baa2 | | | 100 | | | 106,966 |
| | | | | | | |
|
|
| | | | | | | | | 264,423 |
| | | | | | | |
|
|
Chemicals | | | | | | | | |
Dow Chemical Co., Debs. | | | | | | | | |
7.375%, 11/01/29 | | A3 | | | 36 | | | 40,521 |
| | | | | | | |
|
|
Commercial Services — 0.1% | | | | | | | | |
D.R. Horton, Inc., Sr. Notes | | | | | | | | |
7.875%, 08/15/11 | | Baa3 | | | 120 | | | 128,665 |
| | | | | | | |
|
|
Entertainment & Leisure | | | | | | | | |
AOL Time Warner, Inc., Gtd. Bonds | | | | | | | | |
7.625%, 04/15/31 | | Baa2 | | | 36 | | | 38,971 |
| | | | | | | |
|
|
Environmental Services — 0.1% | | | | | | | | |
Waste Management, Inc., Sr. Notes | | | | | | | | |
7.00%, 07/15/28 | | Baa3 | | | 130 | | | 134,915 |
| | | | | | | |
|
|
Farming & Agriculture — 0.1% | | | | | | | | |
Archer-Daniels-Midland Co., Notes | | | | | | | | |
5.375%, 09/15/35 | | A2 | | | 70 | | | 61,633 |
| | | | | | | |
|
|
Financial – Bank & Trust — 0.3% | | | | | | | | |
HSBC Finance Corp., Sr. Notes | | | | | | | | |
4.625%, 09/15/10 | | Aa3 | | | 90 | | | 86,702 |
PNC Bank NA, Sub. Notes | | | | | | | | |
4.875%, 09/21/17 | | A2 | | | 110 | | | 100,571 |
74
| | | | | | | | |
|
| | | Moody’s
Ratings
(Unaudited) | | Principal
Amount
(000) | | Value (Note 2) |
|
Wells Fargo & Co., Sr. Notes | | | | | | | | |
4.625%, 08/09/10 | | Aa1 | | $ | 140 | | $ | 135,480 |
| | | | | | | |
|
|
| | | | | | | | | 322,753 |
| | | | | | | |
|
|
Financial – Brokerage — 0.5% | | | | | | | | |
Goldman Sachs Group, Inc., Notes | | | | | | | | |
5.25%, 10/15/13 | | Aa3 | | | 150 | | | 144,844 |
Merrill Lynch & Co., Inc., Notes | | | | | | | | |
2.07%, 06/12/06 | | Aa3 | | | 250 | | | 249,127 |
4.25%, 02/08/10 | | Aa3 | | | 100 | | | 95,819 |
Morgan Stanley, Notes | | | | | | | | |
4.00%, 01/15/10 | | Aa3 | | | 50 | | | 47,414 |
| | | | | | | |
|
|
| | | | | | | | | 537,204 |
| | | | | | | |
|
|
Financial Services — 1.0% | | | | | | | | |
Abbey National PLC, Sub. Notes | | | | | | | | |
7.95%, 10/26/29 | | A1 | | | 36 | | | 42,905 |
American General Finance, Notes | | | | | | | | |
4.50%, 11/15/07 | | A1 | | | 200 | | | 197,843 |
AXA Financial, Inc., Sub. Notes | | | | | | | | |
8.60%, 12/15/30 | | A3 | | | 36 | | | 44,468 |
Devon Financing Corp. LLC, Gtd. Notes | | | | | | | | |
7.875%, 09/30/31 | | Baa2 | | | 36 | | | 42,517 |
Ford Motor Credit Co., Notes | | | | | | | | |
6.50%, 01/25/07 | | Ba2 | | | 190 | | | 188,824 |
General Electric Capital Corp., Notes | | | | | | | | |
6.125%, 02/22/11 | | Aaa | | | 90 | | | 92,386 |
John Deere Capital Corp., Sr. Notes | | | | | | | | |
4.50%, 08/25/08 | | A3 | | | 140 | | | 137,377 |
Morgan Stanley, Notes | | | | | | | | |
4.25%, 05/15/10 | | Aa3 | | | 150 | | | 143,052 |
National Rural Utilities, Notes | | | | | | | | |
8.00%, 03/01/32 | | A2 | | | 36 | | | 43,992 |
Verizon Global Funding Corp., Notes | | | | | | | | |
7.75%, 12/01/30 | | A3 | | | 36 | | | 39,709 |
| | | | | | | |
|
|
| | | | | | | | | 973,073 |
| | | | | | | |
|
|
|
| | | Moody’s
Ratings
(Unaudited) | | Principal
Amount
(000) | | Value (Note 2) |
|
Food — 0.2% | | | | | | | | |
Cadbury Schweppes US Finance LLC, Notes 144A (g) | | | | | | | | |
3.875%, 10/01/08 | | Baa2 | | $ | 90 | | $ | 86,674 |
Kellogg Co. | | | | | | | | |
7.45%, 04/01/31 | | Baa1 | | | 36 | | | 41,167 |
Kraft Foods, Inc., Bonds | | | | | | | | |
6.50%, 11/01/31 | | A3 | | | 36 | | | 36,540 |
| | | | | | | |
|
|
| | | | | | | | | 164,381 |
| | | | | | | |
|
|
Insurance — 0.5% | | | | | | | | |
Genworth Financial, Inc., Notes | | | | | | | | |
4.95%, 10/01/15 | | A2 | | | 70 | | | 65,070 |
5.75%, 06/15/14 | | A2 | | | 150 | | | 148,524 |
Monumental Global Funding II, Notes 144A (g) | | | | | | | | |
3.85%, 03/03/08 | | Aa3 | | | 250 | | | 243,180 |
| | | | | | | |
|
|
| | | | | | | | | 456,774 |
| | | | | | | |
|
|
Medical Supplies & Equipment — 0.2% | | | | | | | | |
Laboratory Corporation of America | | | | | | | | |
5.625%, 12/15/15 | | Baa3 | | | 130 | | | 125,547 |
Schering-Plough Corp., Notes | | | | | | | | |
5.55%, 12/01/13(c) | | Baa1 | | | 100 | | | 97,887 |
| | | | | | | |
|
|
| | | | | | | | | 223,434 |
| | | | | | | |
|
|
Metals & Mining — 0.1% | | | | | | | | |
Alcan, Inc., Notes | | | | | | | | |
4.50%, 05/15/13 | | Baa1 | | | 100 | | | 92,502 |
| | | | | | | |
|
|
Oil & Gas — 0.7% | | | | | | | | |
Anadarko Finance Co., Gtd. Notes | | | | | | | | |
7.50%, 05/01/31 | | Baa1 | | | 36 | | | 40,710 |
ConocoPhillips Holding Co., Sr. Notes | | | | | | | | |
6.95%, 04/15/29 | | A1 | | | 36 | | | 39,704 |
Devon Energy Corp., Sr. Notes | | | | | | | | |
2.75%, 08/01/06 | | Baa2 | | | 200 | | | 198,638 |
Enterprise Products Operating LP, Sr. Notes | | | | | | | | |
4.95%, 06/01/10 | | Baa3 | | | 190 | | | 183,933 |
6.65%, 10/15/34 | | Baa3 | | | 60 | | | 58,284 |
75
Strategic Partners Balanced Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | | |
|
| | | Moody’s
Ratings
(Unaudited) | | Principal
Amount
(000) | | | Value (Note 2) |
|
Premcor Refining Group Co., Gtd. Notes | | | | | | | | | |
6.125%, 05/01/11 | | Baa3 | | $ | 140 | | | $ | 142,003 |
XTO Energy, Inc., Notes | | | | | | | | | |
5.30%, 06/30/15 | | Baa3 | | | 50 | | | | 47,625 |
| | | | | | | | |
|
|
| | | | | | | | | | 710,897 |
| | | | | | | | |
|
|
Railroads — 0.2% | | | | | | | | | |
Canandian National Railways Co., Bonds | | | | | | | | | |
6.25%, 08/01/34 | | A3 | | | 200 | | | | 204,129 |
Norfolk Southern Corp., Sr. Notes | | | | | | | | | |
7.80%, 05/15/27 | | Baa1 | | | 6 | | | | 7,025 |
| | | | | | | | |
|
|
| | | | | | | | | | 211,154 |
| | | | | | | | |
|
|
Retail & Merchandising — 0.4% | | | | | | | | | |
May Department Stores Co., Notes | | | | | | | | | |
4.80%, 07/15/09 | | Baa1 | | | 300 | | | | 293,634 |
Target Corp., Sr. Unsec’d. Notes | | | | | | | | | |
7.00%, 07/15/31 | | A2 | | | 36 | | | | 40,117 |
Walmart Stores, Inc., Sr. Unsec’d. Notes | | | | | | | | | |
7.55%, 02/15/30 | | Aa2 | | | 36 | | | | 42,048 |
| | | | | | | | |
|
|
| | | | | | | | | | 375,799 |
| | | | | | | | |
|
|
Telecommunications — 0.7% | | | | | | | | | |
AT&T Broadband Corp., Gtd. Notes | | | | | | | | | |
8.375%, 03/15/13 | | Baa2 | | | 38 | | | | 42,540 |
AT&T Corp., Notes | | | | | | | | | |
6.00%, 03/15/09 | | Baa2 | | | — | (r) | | | 203 |
Sr. Notes | | | | | | | | | |
9.05%, 11/15/11 | | Baa1 | | | 115 | | | | 124,008 |
BellSouth Corp., Notes | | | | | | | | | |
6.875%, 10/15/31 | | Aa3 | | | 36 | | | | 36,564 |
British Telecom PLC, Unsub. Notes (United Kingdom) (l) | | | | | | | | | |
8.625%, 12/15/30 | | Baa1 | | | 36 | | | | 45,504 |
Nextel Communications, Sr. Notes | | | | | | | | | |
5.95%, 03/15/14 | | Ba3 | | | 260 | | | | 255,677 |
Sprint Capital Corp., Gtd. Notes | | | | | | | | | |
8.375%, 03/15/12 | | Baa2 | | | 150 | | | | 168,651 |
|
|
| | | Moody’s
Ratings
(Unaudited) | | Principal
Amount
(000) | | | Value (Note 2) |
|
Telecom Italia Capital SA, Co. Gtd. Notes (Italy) (l) | | | | | | | | | |
4.00%, 01/15/10 | | Baa2 | | $ | 70 | | | $ | 65,915 |
| | | | | | | | |
|
|
| | | | | | | | | | 739,062 |
| | | | | | | | |
|
|
Utilities — 0.9% | | | | | | | | | |
Carolina Power & Light, First Mortgage, Notes | | | | | | | | | |
5.15%, 04/01/15 | | A3 | | | 30 | | | | 28,418 |
CenterPoint Energy Resources Corp., Debs. | | | | | | | | | |
6.50%, 02/01/08 | | Baa3 | | | 225 | | | | 228,371 |
Dominion Resources, Inc., Notes | | | | | | | | | |
4.125%, 02/15/08 | | Baa1 | | | 250 | | | | 244,178 |
4.75%, 12/15/10 | | Baa1 | | | 70 | | | | 67,132 |
FirstEnergy Corp., Notes | | | | | | | | | |
7.375%, 11/15/31 | | Baa3 | | | 36 | | | | 39,115 |
Hydro-Quebec, Notes | | | | | | | | | |
8.40%, 01/15/22 | | A1 | | | 36 | | | | 45,233 |
Nisource Finance Corp., Gtd. Notes | | | | | | | | | |
5.25%, 09/15/17 | | Baa3 | | | 70 | | | | 64,573 |
Pacific Gas & Electric Corp., Unsec’d. Bonds | | | | | | | | | |
6.05%, 03/01/34 | | Baa1 | | | 80 | | | | 76,524 |
Southern California Edison Co., Bonds | | | | | | | | | |
5.625%, 02/01/36 | | A3 | | | 80 | | | | 72,924 |
| | | | | | | | |
|
|
| | | | | | | | | | 866,468 |
| | | | | | | | |
|
|
Total Corporate Obligations
(Cost $6,741,443) | | | | | | | | | 6,654,694 |
| | | | | | | | |
|
|
Collateralized Mortgage Obligations — 4.3% | | | | | | | | | |
Banc of America Commercial Mortgage, Inc., Series 2004-1, Class XP, IO | | | | | | | | | |
0.80%, 11/10/39 | | AAA(d) | | | 2,551 | | | | 57,173 |
Banc of America Mortgage Securities, Series 2004-F, Class 2A5 (c) | | | | | | | | | |
4.155% 07/25/34 | | Aaa | | | 1,000 | | | | 960,309 |
Bear Stearns Commercial Mortgage Securities, Series 2004-T16, Class X2, IO | | | | | | | | | |
0.97%, 08/13/46 | | AAA(d) | | | 4,500 | | | | 147,420 |
76
| | | | | | | | | | |
|
| | | Moody’s
Ratings
(Unaudited) | | | Principal
Amount
(000) | | | Value (Note 2) |
|
Commercial Mortgage Acceptance Corp., Series 1998-C2, Class X, IO | | | | | | | | | | |
1.02%, 09/15/30 | | AAA | (d) | | $ | 5,420 | | | $ | 160,020 |
Countrywide Asset-Backed Certificate, Series 2006-6, Class 2A1 | | | | | | | | | | |
4.821%, 04/25/36 | | Aaa | | | | 177 | | | | 176,963 |
GMAC Commercial Mortgage Securities, Inc., Series 2002-C2, Class A1 | | | | | | | | | | |
4.321%, 10/15/38 | | Aaa | | | | 118 | | | | 117,691 |
LB-UBS Commercial Mortgage Trust, Series 2005-C3, Class A3 | | | | | | | | | | |
4.647%, 07/15/30 | | Aaa | | | | 500 | | | | 479,581 |
LB-UBS Commerical Mortgage Trust, Series 2003-C5, Class A2 | | | | | | | | | | |
3.478%, 07/15/27 | | AAA | (d) | | | 700 | | | | 672,942 |
Lehman Brothers Mortgage Trust, Series 2005-LLFA, Class A1 144A (c) | | | | | | | | | | |
5.001%, 07/15/18 | | Aaa | | | | 256 | | | | 256,360 |
Master Alternative Loans Trust, Series 2003-8, Class 4A1 | | | | | | | | | | |
7.00%, 12/25/33 | | AAA | (d) | | | 52 | | | | 51,705 |
Washington Mutual, Series 2004-AR4, Class A6 (c) | | | | | | | | | | |
3.803%, 06/25/34 | | Aaa | | | | 500 | | | | 475,799 |
Series 2004-AR9, Class A7 (c) | | | | | | | | | | |
4.177%, 08/25/34 | | Aaa | | | | 640 | | | | 615,408 |
Series 2005-AR11, Class A1C1 (c) | | | | | | | | | | |
5.159%, 07/25/45 | | Aaa | | | | 206 | | | | 205,532 |
| | | | | | | | | |
|
|
Total Collateralized Mortgage Obligations
(Cost $4,529,762) | | | | | | | | | | 4,376,903 |
| | | | | | | | | |
|
|
|
|
| | | Moody’s
Ratings
(Unaudited) | | | Principal
Amount
(000) | | | Value (Note 2) |
|
Asset-Backed Securities — 2.1% | | | | | | | | | | |
ABSC NIMS Trust, Series 2004-HE5, Class A1 144A (g) | | | | | | | | | | |
5.00%, 08/27/34 | | BBB+ | (d) | | $ | 4 | | | $ | 4,228 |
Accredited Mortgage Loan Trust, Series 2006-1, Class A1 | | | | | | | | | | |
5.019%, 04/25/36 | | Aaa | | | | 143 | | | | 143,021 |
Ameriquest Finance NIM Trust, Series 2004-RN5, Class A 144A (g) | | | | | | | | | | |
5.193%, 06/25/34 | | BBB+ | (d) | | | 2 | | | | 2,351 |
Ameriquest Mortgage Securities, Inc., Series 2006-R1, Class A2A | | | | | | | | | | |
5.039%, 03/25/36 | | Aaa | | | | 178 | | | | 177,616 |
Argent NIM Notes, Series 2004-WN9, Class A 144A (g) | | | | | | | | | | |
5.19%, 10/25/34 | | BBB | (d) | | | 2 | | | | 2,228 |
Asset Backed Funding Corp. NIM Trust, Series 2004-OPT4, Class N1 | | | | | | | | | | |
4.45%, 05/26/34 | | A- | (d) | | | — | (r) | | | 616 |
Capital One Prime Auto Receivables Trust, Series 2004-2, Class A4 (c) | | | | | | | | | | |
4.961%, 04/15/10 | | Aaa | | | | 550 | | | | 550,305 |
CNH Equipment Trust, Series 2004-A, Class A3A (c) | | | | | | | | | | |
4.971%, 10/15/08 | | Aaa | | | | 100 | | | | 100,037 |
Countrywide Asset-Backed Certificates, | | | | | | | | | | |
Series 2004-11N, Class-N 144A | | | | | | | | | | |
5.25%, 04/25/36 | | BBB | (d) | | | 3 | | | | 3,201 |
Series 2004-5N, Class N1 | | | | | | | | | | |
5.50%, 10/25/35 | | BBB | (d) | | | — | (r) | | | 911 |
77
Strategic Partners Balanced Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | | | | |
| |
| | | Moody’s
Ratings
(Unaudited) | | | Principal
Amount
(000) | | | Value (Note 2) | |
| |
Credit-Based Asset Servicing and Security, Series 2006-C3, Class A1 | | | | | | | | | | | |
4.883%, 03/30/26 | | Aaa | | | $ | 98 | | | $ | 98,257 | |
First Franklin Mortgage Loan, Series 2005-FF4, Class 2A1 (c)(g) | | | | | | | | | | | |
5.039%, 05/25/35 | | Aaa | | | | 375 | | | | 374,591 | |
GSAMP Trust, Series 2004-NIM1, Class N1 144A | | | | | | | | | | | |
5.50%, 09/25/34 | | BBB | (d) | | | 2 | | | | 1,729 | |
Indymac Residential Asset Backed Trust, Series 2006-B, Class 2A1 | | | | | | | | | | | |
4.65%, 06/25/36 | | Aaa | | | | 143 | | | | 143,264 | |
Long Beach Asset Holdings Corp., | | | | | | | | | | | |
Series 2005-1, Class N1 144A (g) | | | | | | | | | | | |
4.115%, 02/25/35 | | NR | | | | 15 | | | | 14,817 | |
Series 2004-5, Class Notes 144A (g) | | | | | | | | | | | |
5.00%, 09/25/34 | | AAA | (d) | | | — | (r) | | | 889 | |
Long Beach Mortgage Loan Trust, Series 2006-2, Class 2A1 | | | | | | | | | | | |
5.029%, 03/25/36 | | AAA | | | | 131 | | | | 131,440 | |
Residential Asset Mortgage Products, Inc., Series 2005-RS1, Class A1 | | | | | | | | | | | |
5.069%, 01/25/35 | | Aaa | | | | 149 | | | | 148,945 | |
Residential Asset Securities Corp., | | | | | | | | | | | |
4.71%, 03/25/34 | | Aaa | | | | 75 | | | | 72,069 | |
Sail Net Interest Margin Notes, | | | | | | | | | | | |
Series 2004-8A, Class A, 144A | | | | | | | | | | | |
5.00%, 09/27/34 | | A-(d) | | | | 4 | | | | 3,958 | |
Series 2004-BNCA, Class A, 144A | | | | | | | | | | | |
5.00%, 09/27/34 | | A-(d) | | | | — | (r) | | | 456 | |
|
| |
| | | Moody’s
Ratings
(Unaudited) | | | Principal
Amount
(000) | | | Value (Note 2) | |
| |
SLM Student Loan Trust, Series 2006-4, Class A1 | | | | | | | | | | | |
5.057%, 07/25/12 | | Aaa | | | $ | 200 | | | $ | 199,976 | |
| | | | | | | | | |
|
|
|
Total Asset-Backed Securities
(Cost $2,177,456) | | | | | | | | | | 2,174,905 | |
| | | | | | | | | |
|
|
|
Municipal Bond — 0.2% | | | | | | | | | | | |
Illinois — 0.2% | | | | | | | | | | | |
Illinois State Taxable Pension | | | | | | | | | | | |
5.10%, 06/01/33
(Cost $200,000) | | Aa3 | | | | 200 | | | | 180,120 | |
| | | | | | | | | |
|
|
|
| | | |
| | | | | | Units
| | | | |
Warrant | | | | | | | | | | | |
Telecommunications | | | | | | | | | | | |
Lucent Technologies, Inc.*, expiring on 12/10/07
(Cost $541) | | | | | | 398 | | | | 175 | |
| | | | | | | | | |
|
|
|
Total Long-Term Investments
(Cost $93,948,618) | | | | | | | | | | 103,144,665 | |
| | | | | | | | | |
|
|
|
| | | |
| | | | | | Shares
| | | | |
Short-Term Investments — 1.7% | | | | | | | | | | | |
Affiliated Money Market Mutual Fund | | | | | | | | | | | |
Dryden Core Investment Fund—Taxable Money Market Series
(w) (Cost $33,472) | | | | | | 33,472 | | | | 33,472 | |
| | | | | | | | | |
|
|
|
| | | |
| | | | | | Principal
amount
(000)
| | | | |
U.S. Government Agency Obligation — 1.7% | | | | | | | | | | | |
Federal Home Loan Bank | | | | | | | | | | | |
4.71%, 05/01/06 | | | | | $ | 1,640 | | | | 1,640,000 | |
| | | | | | | | | |
|
|
|
Total Short-Term Investments
(Cost $1,673,472) | | | | | | | | | | 1,673,472 | |
| | | | | | | | | |
|
|
|
Total Investments — 103.5%
(Cost $95,622,091; Note 5) | | | | | | | | | | 104,818,137 | |
Liabilities In Excess of Other Assets(u) — (3.5)% | | | | | | | | | | (3,506,437 | ) |
| | | | | | | | | |
|
|
|
Net Assets — 100.0% | | | | | | | | | $ | 101,311,700 | |
| | | | | | | | | |
|
|
|
78
The following abbreviations are used in portfolio descriptions:
| | |
| 144A | | Security was purchased pursuant to Rule 144A under the securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted 144A securities are deemed to be liquid. |
| |
| IO | | Interest Only |
| |
| NR | | Not Rated |
| |
| TBA | | Securities Purchased on a Forward Commitment Basis |
| |
| TIPS | | Treasury Inflation Protected Securities |
| |
| * | | Non-income producing security. |
| |
| (c) | | Indicates a variable rate security. |
| |
| (d) | | Standard & Poor’s rating. |
| |
| (g) | | Indicates a security that has been deemed illiquid. |
| |
| (l) | | US$ Denominated Foreign Bonds. |
| |
| (r) | | Less than $1,000 par. |
| |
| (u) | | Liabilities in excess of other assets includes unrealized appreciation on futures contracts as follows: |
| | | | | | | | | | | | | | |
| | | | | |
Number of Contracts
| | Type
| | Expiration
Month
| | Value at
Trade Date
| | Value at
April 30, 2006
| | Unrealized
Appreciation
| |
Long Position: | | | | | | | | | | | | | | |
1 | | S&P 500 | | Jun 06 | | $ | 323,287 | | $ | 328,975 | | $ | 5,688 | (1) |
| | | | | | | | | | | | |
|
|
|
| | |
| (1) | | Cash of $16,000 has been segregated with the custodian to cover requirements for open futures contracts at April 30, 2006. |
| |
| (w) | | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investments and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
U.S. Government Agency Mortgage-Backed Securities | | 20.4 | % |
Oil & Gas | | 7.7 | |
Financial Services | | 7.0 | |
U.S. Treasury Obligations | | 6.6 | |
Financial - Bank & Trust | | 5.1 | |
Collateralized Mortgage Obligations | | 4.3 | |
Retail & Merchandising | | 3.7 | |
Utilities | | 3.4 | |
Insurance | | 3.3 | |
Pharmaceuticals | | 3.3 | |
Computer Hardware | | 3.0 | |
Telecommunications | | 2.9 | |
Beverages | | 2.6 | |
Medical Supplies & Equipment | | 2.2 | |
Asset-Backed Securities | | 2.1 | |
Food | | 1.9 | |
Aerospace | | 1.7 | |
Affiliated Money Market Mutual Fund and other Short-Term | | 1.7 | |
Healthcare Services | | 1.7 | |
Metals & Mining | | 1.6 | |
Business Services | | 1.4 | |
Entertainment & Leisure | | 1.4 | |
Consumer Products & Services | | 1.3 | |
Electronic Components & Equipment | | 1.3 | |
Semiconductors | | 1.3 | |
Computer Services & Software | | 1.1 | |
Restaurants | | 1.1 | |
Chemicals | | 1.0 | |
Machinery & Equipment | | 0.9 | |
Real Estate Investment Trust | | 0.7 | |
Automotive Parts | | 0.5 | |
Broadcasting | | 0.5 | |
Building Materials | | 0.5 | |
Financial - Brokerage | | 0.5 | |
Hotels & Motels | | 0.5 | |
Electric | | 0.4 | |
Paper & Forest Products | | 0.4 | |
Transportation | | 0.4 | |
Farming & Agriculture | | 0.3 | |
Railroads | | 0.3 | |
Automobile Manufacturers | | 0.2 | |
Environmental Services | | 0.2 | |
Internet Services | | 0.2 | |
Municipal Bond | | 0.2 | |
Personal Services | | 0.2 | |
Clothing & Apparel | | 0.1 | |
Commercial Services | | 0.1 | |
Conglomerates | | 0.1 | |
Construction | | 0.1 | |
Printing & Publishing | | 0.1 | |
| | |
|
|
| | | 103.5 | % |
Liabilities In Excess of Other Assets | | (3.5 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
79
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Long-Term Investments — 97.5% | | | | | | | | |
Corporate Bonds — 96.5% | | | | | | | | |
Aerospace — 1.5% | | | | | | | | |
Argo-Tech Corp., Sr. Notes | | | | | | | | |
9.25%, 06/01/11 | | B3 | | $ | 250 | | $ | 263,437 |
Armor Holdings, Inc., Sr. Sub. Notes | | | | | | | | |
8.25%, 08/15/13 | | B1 | | | 160 | | | 170,800 |
K&F Acquisition, Inc., Gtd. Notes, PIK | | | | | | | | |
7.75%, 11/15/14 | | Caa1 | | | 510 | | | 521,475 |
Sequa Corp., Sr. Notes | | | | | | | | |
9.00%, 08/01/09 | | B1 | | | 250 | | | 268,750 |
Standard Aero Holdings, Inc., Sr. Gtd. Notes | | | | | | | | |
8.25%, 09/01/14 | | Caa1 | | | 125 | | | 110,625 |
TransDigm, Inc., Gtd. Notes | | | | | | | | |
8.375%, 07/15/11 | | B3 | | | 250 | | | 262,500 |
| | | | | | | |
|
|
| | | | | | | | | 1,597,587 |
| | | | | | | |
|
|
Agriculture — 1.2% | | | | | | | | |
Land O’ Lakes, Inc., | | | | | | | | |
Sr. Notes | | | | | | | | |
8.75%, 11/15/11 | | B2 | | | 15 | | | 15,638 |
Sec’d. Notes | | | | | | | | |
9.00%, 12/15/10 | | B2 | | | 125 | | | 133,125 |
National Beef Packaging Co., LLC, Sr. Notes | | | | | | | | |
10.50%, 08/01/11 | | B3 | | | 125 | | | 125,937 |
Smithfield Foods, Inc., Sr. Notes | | | | | | | | |
8.00%, 10/15/09 | | Ba2 | | | 250 | | | 256,250 |
Swift & Co., | | | | | | | | |
Gtd. Notes, 144A | | | | | | | | |
10.125%, 10/01/09 | | B1 | | | 125 | | | 129,375 |
Sr. Sub. Notes | | | | | | | | |
12.50%, 01/01/10(a) | | B2 | | | 125 | | | 125,000 |
UAP Holding Corp., Sr. Disc. Note, Zero Coupon (until 01/15/08), 144A | | | | | | | | |
10.75%, (v) 07/15/12 | | B3 | | | 400 | | | 360,500 |
United Agricultural Products, Sr. Notes, 144A | | | | | | | | |
8.25%, 12/15/11 | | B1 | | | 79 | | | 82,555 |
| | | | | | | |
|
|
| | | | | | | | | 1,228,380 |
| | | | | | | |
|
|
|
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Airlines | | | | | | | | |
Northwest Airlines, Inc., Gtd. Notes | | | | | | | | |
10.00%, 02/01/09 | | Caa1 | | $ | 68 | | $ | 28,560 |
| | | | | | | |
|
|
Automotive – OEM — 2.7% | | | | | | | | |
FCE Bank PLC (United Kingdom) | | | | | | | | |
3.492%, 09/30/09 (c) | | Ba2 | | EUR | 125 | | | 140,814 |
Ford Motor Co., Notes (a) | | | | | | | | |
7.45%, 07/16/31 | | Ba3 | | $ | 250 | | | 182,500 |
Ford Motor Credit Co., | | | | | | | | |
Sr. Notes | | | | | | | | |
7.25%, 10/25/11(a) | | Baa3 | | | 375 | | | 336,548 |
Notes | | | | | | | | |
7.875%, 06/15/10 | | Ba2 | | | 125 | | | 115,439 |
Sr. Unsec’d. Notes | | | | | | | | |
8.625%, 11/01/10 | | Ba2 | | | 125 | | | 118,235 |
General Motors Acceptance Corp., | | | | | | | | |
Notes | | | | | | | | |
6.75%, 12/01/14 (a) | | Ba1 | | | 750 | | | 683,569 |
6.875%, 09/15/11 | | Baa2 | | | 700 | | | 655,760 |
Notes (a) | | | | | | | | |
7.25%, 03/02/11 | | Baa2 | | | 250 | | | 239,031 |
Bonds (a) | | | | | | | | |
8.00%, 11/01/31 | | Baa2 | | | 250 | | | 237,053 |
General Motors Corp., Debs. | | | | | | | | |
8.375%, 07/15/33 | | B3 | | | 125 | | | 93,125 |
| | | | | | | |
|
|
| | | | | | | | | 2,802,074 |
| | | | | | | |
|
|
Automotive Parts — 2.7% | | | | | | | | |
Accuride Corp., Co. Gtd. (a) | | | | | | | | |
8.50%, 02/01/15 | | Caa1 | | | 125 | | | 123,438 |
Affinia Group, Inc., Sr. Sub. Notes | | | | | | | | |
9.00%, 11/30/14 | | Caa2 | | | 125 | | | 110,938 |
ArvinMeritor, Inc., Notes | | | | | | | | |
8.75%, 03/01/12 | | Ba2 | | | 200 | | | 205,250 |
Cooper-Standard Automotive, Inc., Co. Gtd. Notes | | | | | | | | |
7.00%, 12/15/12 | | B3 | | | 150 | | | 139,125 |
Goodyear Tire & Rubber Co., | | | | | | | | |
Notes | | | | | | | | |
7.857%, 08/15/11 | | B3 | | | 250 | | | 246,250 |
Sr. Notes | | | | | | | | |
9.00%, 07/01/15 | | B3 | | | 250 | | | 257,500 |
80
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Schefenaccker AG, Sr. Sub. Notes (Germany) | | | | | | | | |
9.50%, 02/11/14 | | B2 | | EUR | 125 | | $ | 145,873 |
Tenneco Automotive, Inc.,
| | | | | | | | |
Gtd. | | | | | | | | |
8.625%, 11/15/14(a) | | B3 | | $ | 295 | | | 298,687 |
Sec’d. Notes | | | | | | | | |
10.25%, 07/15/13 | | B2 | | | 340 | | | 376,550 |
TRW Automotive, Inc., | | | | | | | | |
Sr. Sub. Notes | | | | | | | | |
9.375%, 02/15/13 | | Ba3 | | | 344 | | | 369,800 |
11.00%, 02/15/13(a) | | B1 | | | 375 | | | 414,375 |
United Components, Inc., Sr. Sub. Notes, 144A | | | | | | | | |
9.375%, 06/15/13 | | B3 | | | 125 | | | 122,500 |
| | | | | | | |
|
|
| | | | | | | | | 2,810,286 |
| | | | | | | |
|
|
Building Materials — 0.2% | | | | | | | | |
Nortek, Inc., Sr. Sub. Notes | | | | | | | | |
8.50%, 09/01/14 | | Caa1 | | | 250 | | | 256,250 |
| | | | | | | |
|
|
Building Materials – Consumer — 0.2% | | | | | | | | |
Norcraft Cos. LP, Sr. Sub. Notes, 144A | | | | | | | | |
9.00%, 11/01/11 | | B3 | | | 125 | | | 130,625 |
Norcraft LLC. Holdings, Sr. Disc. Notes, Zero Coupon (until 09/01/08), 144A | | | | | | | | |
9.75%, (v) 09/01/12 | | Caa1 | | | 125 | | | 101,250 |
| | | | | | | |
|
|
| | | | | | | | | 231,875 |
| | | | | | | |
|
|
Building Materials – Fixtures & Fittings — 1.3% | | | | | | | | |
ACIH, Inc., Sr. Disc. Notes, Zero Coupon (until 12/15/07), 144A | | | | | | | | |
11.50%, (v) 12/15/12 | | Caa1 | | | 125 | | | 102,813 |
Associated Materials, Inc., | | | | | | | | |
Gtd. Notes | | | | | | | | |
9.75%, 04/15/12 | | Caa1 | | | 125 | | | 130,000 |
Sr. Disc. Notes, Zero Coupon (until 03/01/09) | | | | | | | | |
11.25%,(v) 03/01/14 | | Caa2 | | | 250 | | | 152,500 |
Goodman Global Holdings, Co. Inc., Sr. Sub. Notes (a) | | | | | | | | |
7.875%, 12/15/12 | | Caa1 | | | 250 | | | 250,000 |
Grohe Holding GMBH, Sr. Notes (Germany) | | | | | | | | |
8.625%, 10/01/14 | | B3 | | EUR | 375 | | | 473,103 |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
NTK Holdings, Inc., Sr. Disc. Notes, Zero Coupon (until 09/01/09) | | | | | | | | |
10.75%, (v) 03/01/14 | | Caa2 | | $ | 125 | | $ | 95,156 |
Ply Gem Industries, Inc., Sr. Sub Notes | | | | | | | | |
9.00%, 02/15/12 | | B3 | | | 125 | | | 120,312 |
| | | | | | | |
|
|
| | | | | | | | | 1,323,884 |
| | | | | | | |
|
|
Business Services — 0.3% | | | | | | | | |
Buhrmann US, Inc., Co. Gtd. Notes | | | | | | | | |
7.875%, 03/01/15 | | B2 | | | 275 | | | 278,438 |
| | | | | | | |
|
|
Cable — 0.2% | | | | | | | | |
Echostar DBS Corp., Sr. Notes | | | | | | | | |
6.375%, 10/01/11 | | Ba3 | | | 250 | | | 244,063 |
| | | | | | | |
|
|
Capital Goods – Others — 0.7% | | | | | | | | |
Briggs & Stratton Corp., Gtd. Notes | | | | | | | | |
8.875%, 03/15/11 | | Ba1 | | | 200 | | | 220,000 |
Mueller Group, Inc., Sr. Sub. Notes | | | | | | | | |
10.00%, 05/01/12 | | Caa1 | | | 250 | | | 273,750 |
Rexnord Corp., Gtd. Notes | | | | | | | | |
10.125%, 12/15/12 | | B3 | | | 250 | | | 274,375 |
| | | | | | | |
|
|
| | | | | | | | | 768,125 |
| | | | | | | |
|
|
Chemicals — 5.7% | | | | | | | | |
BCP Crystal Holdings Corp., Sr. Sub. Notes | | | | | | | | |
9.625%, 06/15/14 | | B3 | | | 312 | | | 343,200 |
Compass Minerals International, Sr. Notes Zero Coupon (until 12/15/07) | | | | | | | | |
10.50%, (v) 12/15/12 | | B-(d) | | | 250 | | | 237,500 |
Compass Minerals International, Inc., Sr. Disc. Notes, Zero Coupon (until 06/01/08) | | | | | | | | |
12.00%, (v) 06/01/13 | | B-(d) | | | 250 | | | 227,500 |
Crompton Corp., Sr. Notes, 144A | | | | | | | | |
9.875%, 08/01/12 | | B1 | | | 125 | | | 140,000 |
81
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Crystal US Holdings, Sr. Disc. Notes Zero Coupon (until 10/01/09) | | | | | | | | |
10.50%, (v) 10/01/14 | | Caa2 | | $ | 650 | | $ | 513,500 |
Equistar Chemicals LP, Gtd. Notes | | | | | | | | |
10.125%, 09/01/08 | | B2 | | | 250 | | | 267,813 |
Hexion US Finance Corp. Hexion Nova Scotia Finance ULC, Sec’d. Notes | | | | | | | | |
9.00%, 07/15/14 | | B3 | | | 125 | | | 129,063 |
Huntsman International LLC, Gtd. Notes | | | | | | | | |
10.125%, 07/01/09 | | B3 | | | 305 | | | 310,337 |
Ineos Group Holdings PLC, Bonds, 144A (United Kingdom) | | | | | | | | |
7.875%, 02/15/16 | | B2 | | EUR | 125 | | | 151,393 |
Ineos Group Holdings, PLC., Notes (United Kingdom) (a) | | | | | | | | |
8.50%, 02/15/16 | | B2 | | EUR | 125 | | | 118,750 |
INVISTA, Notes, 144A | | | | | | | | |
9.25%, 05/01/12 | | B1 | | $ | 250 | | | 266,875 |
KRATON Polymers LLC, Sr. Sub. Notes, 144A (a) | | | | | | | | |
8.125%, 01/15/14 | | Caa1 | | | 500 | | | 497,500 |
LBC Luxembourg Holdings SCA, Co., Gtd Notes, 144A (Luxembourg) | | | | | | | | |
11.00%, 05/15/14 | | Caa1 | | EUR | 125 | | | 182,144 |
Nalco Co., Sr. Sub. Notes | | | | | | | | |
8.875%, 11/15/13 | | Caa1 | | $ | 350 | | | 361,375 |
Nell AF SARL, Sr. Notes, 144A (Luxembourg) (a)(l) | | | | | | | | |
8.375%, 08/15/15 | | B2 | | | 250 | | | 247,813 |
PQ Corp., Sr. Sub. Notes | | | | | | | | |
7.50%, 02/15/13 | | B3 | | | 250 | | | 237,500 |
Resolution Performance Products LLC/RPP Capital Corp., Sec’d. Notes | | | | | | | | |
9.50%, 04/15/10 | | B3 | | | 125 | | | 131,250 |
Rhodia SA,
| | | | | | | | |
Sr. Sub. Notes | | | | | | | | |
8.875%, 06/01/11 | | Caa1 | | | 120 | | | 123,900 |
Sr. Notes | | | | | | | | |
10.25%, 06/01/10(a) | | B3 | | | 534 | | | 596,745 |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Rockwood Specialties Group, Sr. Sub. Notes | | | | | | | | |
7.625%, 11/15/14 | | B3 | | $ | 500 | | $ | 649,727 |
Rockwood Specialties Group, Inc., Sr. Sub. Notes | | | | | | | | |
10.625%, 05/15/11 | | B3 | | | 266 | | | 288,610 |
| | | | | | | |
|
|
| | | | | | | | | 6,022,495 |
| | | | | | | |
|
|
Commercial Services — 1.1% | | | | | | | | |
Alderwoods Group, Inc., Co. Gtd. Notes | | | | | | | | |
7.75%, 09/15/12 | | B2 | | | 225 | | | 241,875 |
Avis Budget Car Rental, Sr. Notes | | | | | | | | |
7.75%, 05/15/16 | | Ba3 | | | 200 | | | 204,000 |
Xerox Corp.,
| | | | | | | | |
Sr. Notes | | | | | | | | |
7.625%, 06/15/13 | | Ba2 | | | 125 | | | 129,062 |
Gtd. Notes | | | | | | | | |
9.75%, 01/15/09 | | Ba2 | | | 500 | | | 543,750 |
| | | | | | | |
|
|
| | | | | | | | | 1,118,687 |
| | | | | | | |
|
|
Conglomerates — 1.3% | | | | | | | | |
Bombardier, Inc., Notes, 144A (Canada) (a)(l) | | | | | | | | |
6.75%, 05/01/12 | | Ba2 | | | 250 | | | 239,375 |
Invensys PLC, Sr. Notes, 144A (United Kingdom) (a)(l) | | | | | | | | |
9.875%, 03/15/11 | | B3 | | | 375 | | | 395,625 |
Mark IV Industries, Inc., Sr. Sub. Notes | | | | | | | | |
7.50%, 09/01/07 | | Caa1 | | | 250 | | | 232,500 |
Noma Luxembourg SA, Sr. Notes, 144A (Luxembourg) | | | | | | | | |
9.75%, 07/15/11 | | B3 | | EUR | 125 | | | 179,385 |
Park-Ohio Industries, Inc., Sr. Sub. Notes | | | | | | | | |
8.375%, 11/15/14 | | Caa1 | | $ | 125 | | | 118,125 |
Polypore International, Inc., Sr. Disc. Notes, Zero Coupon (until 10/01/08) | | | | | | | | |
10.50%, (v) 10/01/12 | | Caa2 | | | 125 | | | 82,812 |
82
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value
(Note 2) |
|
Polypore, Inc., Notes, 144A | | | | | | | | |
8.75%, 05/15/12 | | Caa1 | | $ | 125 | | $ | 145,873 |
| | | | | | | |
|
|
| | | | | | | | | 1,393,695 |
| | | | | | | |
|
|
Consumer Products – Household & Leisure — 2.1% | | | | | | | | |
Affinion Group, Inc., Gtd. Notes (a) | | | | | | | | |
10.125%, 10/15/13 | | B3 | | | 125 | | | 129,062 |
AMES True Temper, Inc., Sr. Sub. Notes (a) | | | | | | | | |
10.00%, 07/15/12 | | Caa1 | | | 125 | | | 104,688 |
Bear Creek Corp., Sr. Notes | | | | | | | | |
9.00%, 03/01/13 | | B3 | | | 125 | | | 116,563 |
FTD, Inc., Gtd. Notes, 144A | | | | | | | | |
7.75%, 02/15/14 | | B3 | | | 125 | | | 123,281 |
Jostens Holdings Corp., Sr. Disc. Notes, Zero Coupon (until 12/01/08), 144A | | | | | | | | |
10.25%, (v) 12/01/13 | | Caa2 | | | 500 | | | 386,250 |
Safilo Capital International SA, Sr. Notes (Luxembourg) | | | | | | | | |
9.625%, 05/15/13 | | Caa2 | | EUR | 244 | | | 342,881 |
Sealy Mattress Co., Sr. Sub. Notes (a) | | | | | | | | |
8.25%, 06/15/14 | | B3 | | $ | 250 | | | 262,500 |
Simmons Bedding Co., Sr. Disc. Notes, Zero Coupon (until 12/15/09) (a)(i) | | | | | | | | |
10.00%, (v) 12/15/14 | | Caa2 | | | 125 | | | 86,250 |
Sleepmaster LLC, Co. Gtd. Notes 144A (i)(g) | | | | | | | | |
11.00%, 05/15/09 | | NR | | | 250 | | | 0 |
Solo Cup Co., Sr. Sub. Notes (a) | | | | | | | | |
8.50%, 02/15/14 | | B3 | | | 125 | | | 118,750 |
Spectrum Brands, Inc., Gtd. Notes | | | | | | | | |
7.375%, 02/01/15 | | B3 | | | 125 | | | 105,000 |
Spectrum Brands, Inc., Sr. Sub. Notes (a) | | | | | | | | |
8.50%, 10/01/13 | | Caa1 | | | 250 | | | 220,625 |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value
(Note 2) |
|
Visant Corp., Co. Gtd. | | | | | | | | |
7.625%, 10/01/12 | | B3 | | $ | 125 | | $ | 124,063 |
Visant Holding Corp., Sr. Notes (g) | | | | | | | | |
8.75%, 12/01/13 | | Caa2 | | | 125 | | | 121,875 |
| | | | | | | |
|
|
| | | | | | | | | 2,241,788 |
| | | | | | | |
|
|
Consumer Products – Industrial — 0.5% | | | | | | | | |
Bombardier Recreational Products, Inc., Sr. Sub. Notes (Canada) (l) | | | | | | | | |
8.375%, 12/15/13 | | B3 | | | 125 | | | 131,562 |
Johnsondiversified Holdings, Inc., Disc. Notes, Zero Coupon (until 05/15/07) | | | | | | | | |
10.67%, (v) 05/15/13 | | Caa1 | | | 250 | | | 216,250 |
Norcross Safety Products LLC, Sr. Sub. Notes | | | | | | | | |
9.875%, 08/15/11 | | B3 | | | 125 | | | 130,938 |
Safety Products Holdings, Inc., Sr. Unsec’d. Notes, PIK | | | | | | | | |
11.75%, 01/01/12 | | Caa1 | | | 70 | | | 73,077 |
| | | | | | | |
|
|
| | | | | | | | | 551,827 |
| | | | | | | |
|
|
Consumer Products – Non-Durable — 0.8% | | | | | | | | |
Chattem, Inc., Sr. Sub. Notes, 144A | | | | | | | | |
7.00%, 03/01/14 | | B2 | | | 250 | | | 250,000 |
DEL Laboratories, Inc., Gtd. Notes (a) | | | | | | | | |
8.00%, 02/01/12 | | B3 | | | 125 | | | 97,500 |
Playtex Products, Inc., Gtd. Notes (a) | | | | | | | | |
9.375%, 06/01/11 | | Caa1 | | | 125 | | | 130,312 |
Presige Brands, Inc., Sr. Sub. Notes., 144A | | | | | | | | |
9.25%, 04/15/12 | | B3 | | | 125 | | | 126,875 |
WH Holdings Ltd., Sr. Notes | | | | | | | | |
9.50%, 04/01/11 | | B2 | | | 250 | | | 267,500 |
| | | | | | | |
|
|
| | | | | | | | | 872,187 |
| | | | | | | |
|
|
Containers & Packaging — 1.1% | | | | | | | | |
Ball Corp., Co. (a) | | | | | | | | |
6.625%, 03/15/18 | | Ba2 | | | 270 | | | 262,237 |
Crown Americas, Inc., Sr. Notes, 144A | | | | | | | | |
7.75%, 11/15/15 | | B1 | | | 400 | | | 411,000 |
83
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value
(Note 2) |
|
Jefferson Smurfit Corp., Co. Gtd. Notes | | | | | | | | |
7.50%, 06/01/13 | | B2 | | $ | 175 | | $ | 163,188 |
Owens-Brockway Glass Container, Inc., Co. Gtd. | | | | | | | | |
6.75%, 12/01/14 | | B2 | | | 250 | | | 240,000 |
Stone Container Finance, Co. Gtd. Notes (Canada) | | | | | | | | |
7.375%, 07/15/14 | | B2 | | | 75 | | | 69,000 |
| | | | | | | |
|
|
| | | | | | | | | 1,145,425 |
| | | | | | | |
|
|
Defense — 1.1% | | | | | | | | |
Communications & Power Industries, Inc. Sr. Sub. Notes | | | | | | | | |
8.00%, 02/01/12 | | B3 | | | 250 | | | 256,875 |
DRS Technologies, Inc., Co. Gtd. | | | | | | | | |
7.625%, 02/01/18 | | B3 | | | 275 | | | 282,219 |
L-3 Communications Corp., Sr. Sub. Notes | | | | | | | | |
6.375%, 10/15/15 | | Ba3 | | | 650 | | | 630,500 |
| | | | | | | |
|
|
| | | | | | | | | 1,169,594 |
| | | | | | | |
|
|
Distribution/Wholesale — 0.3% | | | | | | | | |
Aviall, Inc., Sr. Notes | | | | | | | | |
7.625%, 07/01/11 | | Ba3 | | | 270 | | | 276,750 |
| | | | | | | |
|
|
Electronic Components — 0.3% | | | | | | | | |
Celestica, Inc., Sr. Sub. Notes (Canada) (l) | | | | | | | | |
7.625%, 07/01/13 | | B2 | | | 50 | | | 50,000 |
Solectron Global Finance Ltd., Sr. Sub. Notes (a) | | | | | | | | |
8.00%, 03/15/16 | | B3 | | | 250 | | | 253,125 |
| | | | | | | |
|
|
| | | | | | | | | 303,125 |
| | | | | | | |
|
|
Energy – Coal — 0.2% | | | | | | | | |
Foundation PA Coal Co., Sr. Notes, 144A | | | | | | | | |
7.25%, 08/01/14 | | B1 | | | 250 | | | 250,625 |
| | | | | | | |
|
|
Energy – E&P — 2.0% | | | | | | | | |
Chesapeake Energy Corp., Sr. Notes | | | | | | | | |
6.375%, 06/15/15 | | Ba2 | | | 875 | | | 837,812 |
6.50%, 08/15/17 | | Baa2 | | | 125 | | | 119,375 |
El Paso Production Holding Co., Gtd. Notes | | | | | | | | |
7.75%, 06/01/13 | | B3 | | | 500 | | | 515,625 |
|
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value
(Note 2) |
|
Encore Acquisition Co., Sr. Sub. Notes | | | | | | | | |
6.00%, 07/15/15 | | B2 | | $ | 250 | | $ | 231,250 |
Pride International, Inc., Oil & Gas Exp./Pro. Sr. Notes | | | | | | | | |
7.375%, 07/15/14 | | Ba2 | | | 125 | | | 129,688 |
Swift Energy Co., Sr. Sub. Notes | | | | | | | | |
9.375%, 05/01/12 | | B2 | | | 250 | | | 265,625 |
| | | | | | | |
|
|
| | | | | | | | | 2,099,375 |
| | | | | | | |
|
|
Entertainment & Leisure — 1.5% | | | | | | | | |
Boyd Gaming Corp., Sr. Sub. Notes | | | | | | | | |
7.125%, 02/01/16 | | B1 | | | 140 | | | 140,175 |
Choctaw Resort Development Enterprise, Sr. Notes | | | | | | | | |
7.25%, 11/15/19 | | B2 | | | 250 | | | 252,187 |
French Lick Resorts & Casinos LLC, First Mortgage 144A (g) | | | | | | | | |
10.75%, 04/15/14 | | B3 | | | 125 | | | 123,438 |
Six Flags, Inc., Sr. Notes | | | | | | | | |
9.75%, 04/15/13 | | Caa1 | | | 125 | | | 127,187 |
Universal City Development Partners, Sr. Notes | | | | | | | | |
11.75%, 04/01/10 | | B2 | | | 500 | | | 550,625 |
Warner Music Group, Sr. Sub. Notes | | | | | | | | |
7.375%, 04/15/14 | | B3 | | | 250 | | | 246,250 |
WMG Holdings Corp., Sr. Disc. Notes, Zero Coupon (until 12/15/09) | | | | | | | | |
9.50%, (v) 12/15/14 | | Caa2 | | | 250 | | | 183,750 |
| | | | | | | |
|
|
| | | | | | | | | 1,623,612 |
| | | | | | | |
|
|
Environmental — 1.5% | | | | | | | | |
Allied Waste North America Sec’d. Notes (a) | | | | | | | | |
6.125%, 02/15/14 | | B2 | | | 250 | | | 238,750 |
Allied Waste North America Co., Co. Gtd. Notes, Series B | | | | | | | | |
9.25%, 09/01/12 | | B2 | | | 167 | | | 179,943 |
84
| | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value
(Note 2) |
|
Allied Waste North America, Sr. Notes | | | | | | | |
7.25%, 03/15/15(a) | | B2 | | $ 310 | | $ | 315,425 |
Sr. Notes, Series B | | | | | | | |
8.50%, 12/01/08 | | B2 | | 225 | | | 236,812 |
Allied Waste North America, Inc., Co. Gtd. Notes, Series B | | | | | | | |
8.875%, 04/01/08 | | B2 | | 500 | | | 525,000 |
Waste Services, Inc., Sr. Sub. Notes | | | | | | | |
9.50%, 04/15/14 | | Ca | | 125 | | | 129,375 |
| | | | | | |
|
|
| | | | | | | | 1,625,305 |
| | | | | | |
|
|
Finance | | | | | | | |
Refco Finance Holdings LLC, Gtd. Notes 144A (i) | | | | | | | |
9.00%, 08/01/12 | | D (d) | | 14 | | | 10,920 |
| | | | | | |
|
|
Financial Services — 3.2% | | | | | | | |
Chukchansi Economic Development Authority, Sr. Notes, 144A | | | | | | | |
8.00%, 11/15/13 | | B2 | | 180 | | | 185,400 |
Ford Motor Credit Co., Bonds | | | | | | | |
7.375%, 02/01/11 | | Ba2 | | 770 | | | 697,972 |
General Motors Corp., Debs. | | | | | | | |
8.25%, 07/15/23 | | B3 | | 200 | | | 145,000 |
TRAINS, Sec’d. Notes 144A | | | | | | | |
7.65%, 06/15/15 | | B1 | | 2,305 | | | 2,327,927 |
| | | | | | |
|
|
| | | | | | | | 3,356,299 |
| | | | | | |
|
|
Food — 1.1% | | | | | | | |
Dole Foods Co., Inc., Sr. Notes | | | | | | | |
8.625%, 05/01/09 | | B2 | | 187 | | | 184,662 |
Eagle Family Foods, Inc., Gtd. Notes, Series B | | | | | | | |
8.75%, 01/15/08 | | Caa2 | | 125 | | | 93,438 |
Michael Foods, Inc., Sr. Sub. Notes | | | | | | | |
8.00%, 11/15/13 | | B3 | | 125 | | | 125,312 |
Pilgrim’s Pride Corp., Co. Gtd. Notes | | | | | | | |
9.625%, 09/15/11 | | Ba2 | | 100 | | | 104,250 |
Pinnacle Foods Holding Corp., Co., Sr. Sub. Notes | | | | | | | |
8.25%, 12/01/13 | | B3 | | 250 | | | 250,625 |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value
(Note 2) |
|
Tyson Foods, Inc., Sr. Unsec’d. Notes | | | | | | | |
6.60%, 04/01/16 | | Baa3 | | $ 200 | | $ | 196,198 |
United Biscuits Finance, Gtd. Notes (United Kingdom) | | | | | | | |
10.625%, 04/15/11 | | B1 | | EUR 125 | | | 166,769 |
| | | | | | |
|
|
| | | | | | | | 1,121,254 |
| | | | | | |
|
|
Food & Beverage — 0.8% | | | | | | | |
Delhaize America, Inc., Gtd. Notes | | | | | | | |
9.00%, 04/15/31 | | Ba1 | | $ 460 | | | 524,992 |
Ingles Markets, Inc., Gtd. Notes | | | | | | | |
8.875%, 12/01/11 | | B3 | | 270 | | | 282,150 |
| | | | | | |
|
|
| | | | | | | | 807,142 |
| | | | | | |
|
|
Forest & Paper — 0.3% | | | | | | | |
Georgia-Pacific Corp., Debs. | | | | | | | |
7.375%, 12/01/25 | | B2 | | 340 | | | 321,300 |
| | | | | | |
|
|
Gaming — 5.7% | | | | | | | |
Boyd Gaming Corp., Sr. Sub. Notes | | | | | | | |
8.75%, 04/15/12 | | B1 | | 250 | | | 265,000 |
Cirsa Finance Luxembourg SA, Sr. Notes (Luxembourg) | | | | | | | |
8.75%, 05/15/14 | | B1 | | EUR 125 | | | 171,894 |
Codere Finance SA, Sr. Notes (Luxembourg) | | | | | | | |
8.25%, 06/15/15 | | B2 | | EUR 125 | | | 168,740 |
Global Cash Finance Corp., Sr. Sub. Notes | | | | | | | |
8.75%, 03/15/12 | | Caa1 | | $ 97 | | | 103,911 |
Herbst Gaming, Inc., Co. Sr. Sub. Notes | | | | | | | |
7.00%, 11/15/14 | | B3 | | 150 | | | 150,000 |
Isle of Capri Casinos, Inc., Gtd. Notes | | | | | | | |
9.00%, 03/15/12 | | B2 | | 125 | | | 132,656 |
Las Vegas Sands Corp., Gtd. Notes | | | | | | | |
6.375%, 02/15/15 | | B2 | | 125 | | | 120,000 |
Mandalay Resort Group, Sr. Notes | | | | | | | |
9.50%, 08/01/08 | | Ba2 | | 50 | | | 53,313 |
Sr. Sub. Notes | | | | | | | |
10.25%, 08/01/07 | | Ba3 | | 625 | | | 654,687 |
85
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
MGM Mirage, Inc., Sr. Notes (g) | | | | | | | | |
6.875%, 04/01/16 | | Ba2 | | $ | 200 | | $ | 195,000 |
MGM Mirage, Inc., Co. Gtd. Notes (a) | | | | | | | | |
8.375%, 02/01/11 | | Ba3 | | | 1,000 | | | 1,052,500 |
Mohegan Tribal Gaming Authority, Sr. Sub. Notes | | | | | | | | |
8.00%, 04/01/12 | | Ba3 | | | 125 | | | 130,000 |
MTR Gaming Group, Inc., Gtd. Notes, Series B | | | | | | | | |
9.75%, 04/01/10 | | B2 | | | 125 | | | 132,812 |
Park Place Entertainment Corp., Sr. Sub. Notes | | | | | | | | |
8.125%, 05/15/11 | | Ba1 | | | 375 | | | 403,594 |
Penn National Gaming, Inc., Sr. Sub. Notes | | | | | | | | |
6.75%, 03/01/15 | | B3 | | | 125 | | | 122,813 |
Pinnacle Entertainment, Inc., Sr. Sub. Notes | | | | | | | | |
8.25%, 03/15/12 | | Caa1 | | | 125 | | | 130,625 |
River Rock Entertainment Authority, Sr. Notes | | | | | | | | |
9.75%, 11/01/11 | | B2 | | | 125 | | | 134,687 |
Seneca Gaming Corp., Sr. Notes | | | | | | | | |
7.25%, 05/01/12 | | B2 | | | 250 | | | 248,750 |
Station Casinos, Inc., Sr. Sub. Notes | | | | | | | | |
6.50%, 02/01/14(a) | | B1 | | | 500 | | | 486,250 |
6.875%, 03/01/16 | | B1 | | | 125 | | | 122,813 |
Wynn Las Vegas LLC, First Mortgage | | | | | | | | |
6.625%, 12/01/14 | | B2 | | | 1,000 | | | 972,500 |
| | | | | | | |
|
|
| | | | | | | | | 5,952,545 |
| | | | | | | |
|
|
Healthcare – Medical Products — 1.0% | | | | | | | | |
CDRV Investors, Inc., Sr. Disc. Notes, Zero Coupon (until 01/01/10) | | | | | | | | |
9.63%, 01/01/15(v) | | Caa2 | | | 375 | | | 265,312 |
Kinetic Concepts, Sr. Sub. Notes | | | | | | | | |
7.375%, 05/15/13 | | B3 | | | 114 | | | 116,850 |
Sybron Dental Specialties, Inc., Co. Gtd. Notes | | | | | | | | |
8.125%, 06/15/12 | | B1 | | | 125 | | | 132,188 |
|
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
VWR International, Inc., Sr. Sub. Notes 144A | | | | | | | | |
8.00%, 04/15/14 | | Caa1 | | $ | 550 | | $ | 550,000 |
| | | | | | | |
|
|
| | | | | | | | | 1,064,350 |
| | | | | | | |
|
|
Healthcare – Pharmaceuticals — 0.5% | | | | | | | | |
Nyco Holdings 2 APS, Sr. Notes (Denmark) | | | | | | | | |
11.50%, 03/31/13 | | B3 | | | EUR 125 | | | 183,327 |
Nycomed ASA, Sr. Notes., PIK (Denmark) | | | | | | | | |
11.75%, 09/15/13 | | NR | | | EUR 125 | | | 166,769 |
Warner Chilcott Corp., Sr. Sub. Notes | | | | | | | | |
8.75%, 02/01/15 | | Caa1 | | $ | 125 | | | 124,375 |
| | | | | | | |
|
|
| | | | | | | | | 474,471 |
| | | | | | | |
|
|
Healthcare – Services — 2.8% | | | | | | | | |
Accellant, Inc., Gtd. Notes | | | | | | | | |
10.50%, 12/01/13 | | Caa1 | | | 125 | | | 134,375 |
Alliance Imaging, Inc., Sr. Sub. Notes (a) | | | | | | | | |
7.25%, 12/15/12 | | B3 | | | 125 | | | 108,750 |
Ameripath, Inc., Gtd. Notes | | | | | | | | |
10.50%, 04/01/13 | | B3 | | | 375 | | | 398,437 |
DAVITA, Inc., Gtd. Notes (a) | | | | | | | | |
7.25%, 03/15/15 | | B3 | | | 530 | | | 530,000 |
HCA, Inc., Notes | | | | | | | | |
6.75%, 07/15/13 | | Ba2 | | | 350 | | | 346,836 |
Select Medical Corp., Gtd. Notes | | | | | | | | |
7.625%, 02/01/15 | | B3 | | | 125 | | | 112,813 |
Tenet Healthcare Corp., | | | | | | | | |
Sr. Unsec’d. Notes | | | | | | | | |
7.375%, 02/01/13(a) | | B3 | | | 350 | | | 326,375 |
Sr. Notes, 144A | | | | | | | | |
9.875%, 07/01/14 | | B3 | | | 250 | | | 259,375 |
Triad Hospitals, Inc., Sr. Notes | | | | | | | | |
7.00%, 05/15/12 | | B2 | | | 200 | | | 198,500 |
US Oncology, Inc., Sr. Notes, 144A | | | | | | | | |
9.00%, 08/15/12 | | B2 | | | 250 | | | 265,000 |
Vanguard Health Holdings Co. LLC, Sr. Sub. Notes | | | | | | | | |
9.00%, 10/01/14 | | Caa1 | | | 250 | | | 258,125 |
| | | | | | | |
|
|
| | | | | | | | | 2,938,586 |
| | | | | | | |
|
|
86
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal Amount
(000) | | Value (Note 2) |
|
Home Construction — 0.1% | | | | | | | | |
Meritage Homes Corp., Gtd. Notes | | | | | | | | |
6.25%, 03/15/15 | | Ba2 | | $ | 125 | | $ | 112,500 |
| | | | | | | |
|
|
Hospitals/Hospital Management — 0.9% | | | | | | | | |
Community Health Systems, Inc., Sr. Sub. Notes, 144A | | | | | | | | |
6.50%, 12/15/12 | | B3 | | | 275 | | | 267,437 |
Fresenius Medical Care Capital Trust, Gtd. Notes | | | | | | | | |
7.875%, 06/15/11 | | B1 | | | 400 | | | 419,000 |
Rotech Healthcare, Inc., Gtd. Notes (a) | | | | | | | | |
9.50%, 04/01/12 | | B3 | | | 300 | | | 248,250 |
| | | | | | | |
|
|
| | | | | | | | | 934,687 |
| | | | | | | |
|
|
Industrial — 0.2% | | | | | | | | |
Blount, Inc., Sr. Sub. Notes | | | | | | | | |
8.875%, 08/01/12 | | B2 | | | 250 | | | 260,000 |
| | | | | | | |
|
|
Internet Services — 0.2% | | | | | | | | |
Intelsat Bermuda Ltd., Sr. Notes, 144A (Bermuda) (l) | | | | | | | | |
8.625%, 01/15/15 | | Caa1 | | | 170 | | | 176,800 |
| | | | | | | |
|
|
Lodging — 0.8% | | | | | | | | |
Gaylord Entertainment Co., Gtd. Notes | | | | | | | | |
6.75%, 11/15/14 | | B3 | | | 250 | | | 239,375 |
HMH Properties, Inc., Gtd. Notes, Series B | | | | | | | | |
7.875%, 08/01/08 | | Ba2 | | | 21 | | | 21,026 |
Host Marriott LP, Sr. Notes | | | | | | | | |
7.00%, 08/15/12 | | Ba2 | | | 500 | | | 505,000 |
7.125%, 11/01/13 | | Ba2 | | | 25 | | | 25,375 |
| | | | | | | |
|
|
| | | | | | | | | 790,776 |
| | | | | | | |
|
|
Machinery — 0.5% | | | | | | | | |
Chart Industries, Inc., Sr. Sub. Notes | | | | | | | | |
9.125%, 10/15/15 | | B3 | | | 270 | | | 278,100 |
Columbus McKinnon Corp., Sec’d. Notes | | | | | | | | |
10.00%, 08/01/10 | | B2 | | | 81 | | | 89,100 |
Dresser-Rand Group, Inc., Sr. Sub. Notes | | | | | | | | |
7.375%, 11/01/14 | | B3 | | | 200 | | | 204,500 |
| | | | | | | |
|
|
| | | | | | | | | 571,700 |
| | | | | | | |
|
|
|
|
| | | Moody’s
Ratings | | Principal Amount
(000) | | Value (Note 2) |
|
Manufacturing — 0.3% | | | | | | | | |
Dresser, Inc., Gtd. Notes | | | | | | | | |
9.375%, 04/15/11 | | B2 | | $ | 330 | | $ | 344,025 |
| | | | | | | |
|
|
Media — 2.3% | | | | | | | | |
DirecTV Holdings LLC / DirecTV Financing Co., Sr. Notes | | | | | | | | |
8.375%, 03/15/13 | | Ba2 | | | 500 | | | 534,375 |
DirecTV Holdings LLC, Sr. Notes | | | | | | | | |
6.375%, 06/15/15 | | Ba2 | | | 140 | | | 136,850 |
Echostar DBS Corp., Sr. Notes | | | | | | | | |
5.75%, 10/01/08 | | Ba3 | | | 250 | | | 246,250 |
Gtd. Notes | | | | | | | | |
7.125%, 02/01/16(a) | | Ba3 | | | 660 | | | 644,325 |
Lighthouse International Co. SA, Gtd. Notes, 144A (Luxembourg) | | | | | | | | |
8.00%, 04/30/14 | | B3 | | EUR | 625 | | | 845,671 |
| | | | | | | |
|
|
| | | | | | | | | 2,407,471 |
| | | | | | | |
|
|
Media & Entertainment | | | | | | | | |
Universal City Florida, Holding Co., Sr. Notes | | | | | | | | |
8.375%, 05/01/10 | | B3 | | $ | 50 | | | 51,500 |
| | | | | | | |
|
|
Media – Broadcasting & Radio — 0.4% | | | | | | | | |
Emmis Operating Co., Sr. Sub. Notes (a) | | | | | | | | |
6.875%, 05/15/12 | | B2 | | | 125 | | | 121,719 |
Radio One, Inc., Gtd. Notes | | | | | | | | |
6.375%, 02/15/13 | | B2 | | | 125 | | | 117,500 |
Sinclair Broadcast Group, Inc., Co. Gtd. Notes | | | | | | | | |
8.75%, 12/15/11 | | B2 | | | 125 | | | 131,562 |
| | | | | | | |
|
|
| | | | | | | | | 370,781 |
| | | | | | | |
|
|
Media – Cable — 4.0% | | | | | | | | |
Adelphia Communications Corp., Sr. Notes 144A (g)(i) | | | | | | | | |
10.25%, 06/15/11 | | NR | | | 125 | | | 63,438 |
Cablevision Systems Corp., Sr. Notes, 144A (a) | | | | | | | | |
8.00%, 04/15/12 | | B3 | | | 500 | | | 498,750 |
CCH I Holdings LLC, Gtd. Notes | | | | | | | | |
9.92%, 04/01/14 | | Ca | | | 250 | | | 155,000 |
10.00%, 05/15/14 | | Ca | | | 250 | | | 155,000 |
87
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Charter Communications Holdings II LLC, Sr. Notes, 144A | | | | | | | | |
10.25%, 09/15/10 | | Caa1 | | $ | 250 | | $ | 251,875 |
Charter Communications Operating LLC, Sr. Notes, 144A (g) | | | | | | | | |
8.00%, 04/30/12 | | B2 | | | 410 | | | 412,050 |
Charter Communications Term B (g) | | | | | | | | |
Zero, 04/25/13 | | B2 | | | 500 | | | 502,260 |
CSC Holdings, Inc., | | | | | | | | |
Sr. Notes 144A | | | | | | | | |
6.75%, 04/15/12 | | B2 | | | 350 | | | 348,250 |
Sr. Notes | | | | | | | | |
8.125%, 07/15/09 | | B2 | | | 150 | | | 155,625 |
Ono Finance PLC, Gtd. Notes (United Kingdom) | | | | | | | | |
10.50%, 05/15/14 | | B3 | | | EUR 125 | | | 171,105 |
Ono Finance PLC (United Kingdom) | | | | | | | | |
8.00%, 05/16/14 | | B3 | | | EUR 125 | | | 151,787 |
Rogers Cable, Inc., (Canada) (l) | | | | | | | | |
7.25%, 12/15/11 | | Ba2 | | $ | 125 | | | 117,515 |
Tele Columbus AG Co., Sr. Sub. Notes (Germany) | | | | | | | | |
9.375%, 04/15/12 | | B3 | | | EUR 125 | | | 163,220 |
Telenet Communication NV, Sr. Notes (Belgium) | | | | | | | | |
9.00%, 12/15/13 | | B2 | | | EUR 187 | | | 261,522 |
Telenet Group Holdings NV, Disc. Notes, Zero Coupon (until 12/15/08) (Belgium) (a)(l) | | | | | | | | |
11.50%, (v) 06/15/14 | | Caa1 | | $ | 655 | | | 542,012 |
UPC Holding BV, Sr. Notes (Netherlands) | | | | | | | | |
7.75%, 01/15/14 | | B3 | | | EUR 250 | | | 303,968 |
| | | | | | | |
|
|
| | | | | | | | | 4,253,377 |
| | | | | | | |
|
|
Medical Supplies & Equipment — 0.9% | | | | | | | | |
HCA, Inc., Bonds | | | | | | | | |
6.50%, 02/15/16 | | Ba2 | | $ | 930 | | | 894,217 |
| | | | | | | |
|
|
Metals — 1.0% | | | | | | | | |
AK Steel Corp., Gtd. Notes (a) | | | | | | | | |
7.75%, 06/15/12 | | B1 | | | 125 | | | 126,563 |
| | | | | | | | |
|
| | | Moody’s Ratings | | Principal Amount
(000) | | Value (Note 2) |
|
Novelis, Inc., Sr. Notes, 144A (Canada) (l) | | | | | | | | |
7.25%, 02/15/15 | | B1 | | $ | 265 | | $ | 257,050 |
Ryerson Tull, Inc., Notes | | | | | | | | |
9.125%, 07/15/06 | | B2 | | | 250 | | | 251,562 |
UCAR Finance, Inc., Gtd. Notes | | | | | | | | |
10.25%, 02/15/12 | | B2 | | | 125 | | | 133,125 |
United States Steel LLC, Sr. Notes | | | | | | | | |
9.75%, 05/15/10 | | Ba1 | | | 250 | | | 270,000 |
| | | | | | | |
|
|
| | | | | | | | | 1,038,300 |
| | | | | | | |
|
|
Metals & Mining — 0.3% | | | | | | | | |
OM Group, Inc., Gtd. Notes | | | | | | | | |
9.25%, 12/15/11 | | Caa1 | | | 125 | | | 129,063 |
Peabody Energy Corp., Sr. Notes | | | | | | | | |
5.875%, 04/15/16 | | Ba2 | | | 190 | | | 180,025 |
| | | | | | | |
|
|
| | | | | | | | | 309,088 |
| | | | | | | |
|
|
Oil & Gas Exploration/Production — 0.7% | | | | | | | | |
Exco Resources, Inc., Gtd. Notes | | | | | | | | |
7.25%, 01/15/11 | | B2 | | | 150 | | | 148,125 |
Hanover Compressor Co., Sr. Notes | | | | | | | | |
9.00%, 06/01/14 | | B3 | | | 150 | | | 161,250 |
Roseton/Danskammer, Pass-Through Certs. | | | | | | | | |
7.27%, 11/08/10 | | B2 | | | 200 | | | 201,999 |
SemGroup LP, Sr. Notes | | | | | | | | |
8.75%, 11/15/15 | | B1 | | | 200 | | | 204,000 |
| | | | | | | |
|
|
| | | | | | | | | 715,374 |
| | | | | | | |
|
|
Oil, Gas & Consumable Fuels — 0.5% | | | | | | | | |
Amerigas Partners, Sr. Notes | | | | | | | | |
7.125%, 05/20/16 | | B1 | | | 540 | | | 534,600 |
| | | | | | | |
|
|
Packaging — 1.7% | | | | | | | | |
Consolidated Container Co. LLC, Sr. Disc. Notes | | | | | | | | |
10.75%, 06/15/09 | | B3 | | | 125 | | | 117,500 |
Gerresheimer Holdings GMBH, Gtd. Notes (Germany) | | | | | | | | |
7.875%, 03/01/15 | | Caa1 | | EUR | 125 | | | 157,701 |
Graham Packaging Co., Sub. Notes, 144A | | | | | | | | |
9.875%, 10/15/14 | | Caa2 | | $ | 500 | | | 513,750 |
88
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Graphic Packaging International Corp., Sr. Sub. Notes (a) | | | | | | | | |
9.50%, 08/15/13 | | B3 | | $ | 250 | | $ | 242,500 |
Huntsman Packaging Corp., Gtd. Notes (g) | | | | | | | | |
13.00%, 06/01/10 | | NR | | | 125 | | | 58,750 |
Owens-Brockway Glass Container, Inc., Gtd. Notes | | | | | | | | |
8.25%, 05/15/13 | | B2 | | | 125 | | | 128,438 |
Owens-Brockway Glass Containers, Inc., Co. Gtd. Notes | | | | | | | | |
8.875%, 02/15/09 | | B1 | | | 125 | | | 130,000 |
Pliant Corp., Notes, 144A (a)(g)(i) | | | | | | | | |
11.125%, 09/01/09 | | NR | | | 125 | | | 131,406 |
Portola Packaging, Inc., Sr. Notes | | | | | | | | |
8.25%, 02/01/12 | | Caa1 | | | 125 | | | 110,156 |
Pregis Corp., Gtd. Notes (a) | | | | | | | | |
12.375%, 10/15/13 | | Caa1 | | | 125 | | | 131,250 |
Russell-Stanley Holdings, Inc., Sr. Sub. Notes (g)(z) | | | | | | | | |
9.00%, 11/30/08 | | NR | | | 55 | | | 0 |
Tekni-Plex, Inc., Sec’d. Notes, 144A (a)(g) | | | | | | | | |
8.75%, 11/15/13 | | Caa2 | | | 125 | | | 118,125 |
| | | | | | | |
|
|
| | | | | | | | | 1,839,576 |
| | | | | | | |
|
|
Paper — 2.9% | | | | | | | | |
Ainsworth Lumber Co. Ltd., Gtd. Notes (Canada) | | | | | | | | |
7.25%, 10/01/12 | | B2 | | | 125 | | | 112,188 |
Boise Cascade LLC, Sr. Sub. Notes | | | | | | | | |
7.125%, 10/15/14 | | B2 | | | 125 | | | 118,750 |
Cascades, Inc., Sr. Notes (Canada) (l) | | | �� | | | | | |
7.25%, 02/15/13 | | Ba3 | | | 160 | | | 151,600 |
Georgia-Pacific Corp., | | | | | | | | |
Sr. Notes | | | | | | | | |
8.00%, 01/15/24 | | B2 | | | 285 | | | 284,287 |
Notes | | | | | | | | |
8.125%, 05/15/11 | | B2 | | | 500 | | | 518,750 |
JSG Funding PLC, Sr. Notes (Ireland) (l) | | | | | | | | |
9.625%, 10/01/12 | | B3 | | | 840 | | | 886,200 |
|
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
JSG Holding PLC., Sr. Notes (Ireland) | | | | | | | | |
11.50%, 10/01/15 | | Caa2 | | | EUR 153 | | $ | 200,532 |
NewPage Corp., Sec’d. Notes | | | | | | | | |
10.00%, 05/01/12 | | B3 | | $ | 125 | | | 133,906 |
Norampac, Inc., Sr. Notes (Canada) (l) | | | | | | | | |
6.75%, 06/01/13 | | Ba2 | | | 150 | | | 141,000 |
Smurfit-Stone Container Enterprises, Inc., | | | | | | | | |
8.375%, 07/01/12(a) | | B2 | | | 430 | | | 419,250 |
9.75%, 02/01/11(l) | | B2 | | | 125 | | | 127,812 |
| | | | | | | |
|
|
| | | | | | | | | 3,094,275 |
| | | | | | | |
|
|
Paper & Forest Products — 1.0% | | | | | | | | |
Abitibi-Consolidated, Inc., Notes (Canada) (a)(l) | | | | | | | | |
8.55%, 08/01/10 | | B1 | | | 800 | | | 820,000 |
Bowater Canada Finance, Gtd. Notes (Canada) (l) | | | | | | | | |
7.95%, 11/15/11 | | B1 | | | 160 | | | 160,400 |
Smurfit Capital Funding PLC, Debs. (Ireland) (l) | | | | | | | | |
7.50%, 11/20/25 | | B1 | | | 100 | | | 93,500 |
| | | | | | | |
|
|
| | | | | | | | | 1,073,900 |
| | | | | | | |
|
|
Personal Services — 0.1% | | | �� | | | | | |
Corrections Corp. of America, Gtd. Notes | | | | | | | | |
6.75%, 01/31/14 | | Ba3 | | | 130 | | | 126,750 |
| | | | | | | |
|
|
Printing — 0.2% | | | | | | | | |
SGS International, Inc., Sr. Sub. Notes, 144A | | | | | | | | |
12.00%, 12/15/13 | | Caa1 | | | 125 | | | 131,875 |
Vertis, Inc., Gtd. Notes, Series B (a) | | | | | | | | |
10.875%, 06/15/09 | | Caa1 | | | 125 | | | 119,375 |
| | | | | | | |
|
|
| | | | | | | | | 251,250 |
| | | | | | | |
|
|
Publishing — 2.9% | | | | | | | | |
Advanstar Communications, Inc., Notes | | | | | | | | |
10.75%, 08/15/10 | | B3 | | | 125 | | | 135,625 |
Gtd. Notes, Series B, 144A (g) | | | | | | | | |
12.00%, 02/15/11 | | Caa2 | | | 125 | | | 132,187 |
89
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Dex Media East LLC, Gtd. Notes | | | | | | | | |
12.125%, 11/15/12 | | B2 | | $ | 487 | | $ | 550,919 |
Dex Media West LLC, Sr. Sub. Notes | | | | | | | | |
9.875%, 08/15/13 | | B2 | | | 303 | | | 333,679 |
Dex Media, Inc., Notes, Zero Coupon (until 11/15/08) | | | | | | | | |
9.00%, (v) 11/15/13 | | B3 | | | 520 | | | 442,000 |
Houghton Mifflin Co., | | | | | | | | |
Sr. Sub. Notes | | | | | | | | |
9.875%, 02/01/13 (a) | | Caa1 | | | 125 | | | 133,750 |
Sr. Disc. Notes, Zero Coupon (until 10/15/08) | | | | | | | | |
11.50%, (v) 10/15/13 | | Caa2 | | | 125 | | | 106,250 |
Primedia, Inc., | | | | | | | | |
Sr. Notes | | | | | | | | |
8.00%, 05/15/13 | | B2 | | | 225 | | | 203,625 |
Gtd. Notes | | | | | | | | |
8.875%, 05/15/11 | | B2 | | | 125 | | | 120,313 |
WDAC Subsidiary Corp., Sr. Notes | | | | | | | | |
8.375%, 12/01/14 | | Caa1 | | EUR | 125 | | | 124,062 |
8.50%, 12/01/14 | | Caa1 | | EUR | 375 | | | 482,565 |
Yell Finance BV, Gtd. Notes, Zero Coupon (until 08/01/06) (Netherlands) | | | | | | | | |
13.50%, (v) 08/01/11 | | B1 | | $ | 250 | | | 261,875 |
| | | | | | | |
|
|
| | | | | | | | | 3,026,850 |
| | | | | | | |
|
|
Real Estate — 0.3% | | | | | | | | |
CB Richard Ellis Service, Sr. Notes | | | | | | | | |
9.75%, 05/15/10 | | Ba3 | | | 114 | | | 123,120 |
Forest City Enterprises, Sr. Unsec’d. Notes | | | | | | | | |
6.50%, 02/01/17 | | Ba3 | | | 150 | | | 144,000 |
| | | | | | | |
|
|
| | | | | | | | | 267,120 |
| | | | | | | |
|
|
Restaurants — 0.3% | | | | | | | | |
Dominos, Inc., Sr. Sub. Notes | | | | | | | | |
8.25%, 07/01/11 | | B2 | | | 82 | | | 84,870 |
Landry’s Restaurants, Inc., Gtd. Notes | | | | | | | | |
7.50%, 12/15/14 | | B2 | | | 250 | | | 240,000 |
| | | | | | | |
|
|
| | | | | | | | | 324,870 |
| | | | | | | |
|
|
|
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Retailers — 0.8% | | | | | | | | |
Ferrellgas Escrow LLC/Ferrellgas Finance Escrow Corp., Sr. Notes | | | | | | | | |
6.75%, 05/01/14 | | Ba3 | | $ | 350 | | $ | 336,000 |
Ferrellgas Partners LP/Ferrellgas Partners Finance, Sr. Notes | | | | | | | | |
8.75%, 06/15/12 | | B2 | | | 200 | | | 202,000 |
General Nutrition Center, Inc., Sr. Sub. Notes | | | | | | | | |
8.50%, 12/01/10 | | Caa1 | | | 100 | | | 97,125 |
Victoria Acqstion III BV, Sr. Notes, 144A (Netherlands) | | | | | | | | |
7.875%, 10/01/14 | | B2 | | EUR | 125 | | | 172,880 |
| | | | | | | |
|
|
| | | | | | | | | 808,005 |
| | | | | | | |
|
|
Retailers – Food & Drug — 0.6% | | | | | | | | |
Brake Brothers Finance PLC, Sr. Notes (United Kingdom) | | | | | | | | |
12.00%, 12/15/11 | | B3 | | GBP | 125 | | | 258,717 |
Couche-Tard US LP., Sr. Sub. Notes | | | | | | | | |
7.50%, 12/15/13 | | Ba3 | | $ | 125 | | | 127,187 |
Jean Coutu Group, Inc., Sr. Sub. Notes (Canada) (a)(l) | | | | | | | | |
8.50%, 08/01/14 | | B3 | | | 125 | | | 117,188 |
Rite Aid Corp., Sec’d. Notes (a) | | | | | | | | |
8.125%, 05/01/10 | | B2 | | | 125 | | | 127,812 |
| | | | | | | |
|
|
| | | | | | | | | 630,904 |
| | | | | | | |
|
|
| Semiconductors — 0.4% | | | | | | | | |
Avago Technologies Financial, Sr. Notes | | | | | | | | |
10.125%, 12/01/13 | | B3 | | | 125 | | | 135,313 |
Sensata Technologies, Sr. Notes | | | | | | | | |
8.00%, 05/01/14 | | B2 | | | 75 | | | 75,375 |
9.00%, 05/01/16 (g) | | Caa1 | | | 125 | | | 161,249 |
| | | | | | | |
|
|
| | | | | | | | | 371,937 |
| | | | | | | |
|
|
Services Cyclical – Business Services — 0.1% | | | | | | | | |
Cornell Cos., Inc., Sr. Notes | | | | | | | | |
10.75%, 07/01/12 | | B3 | | | 125 | | | 130,625 |
| | | | | | | |
|
|
90
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Services Cyclical – Consumer Services — 0.3% | | | | | | | | |
Brickman Group, Ltd., Gtd. Notes, Series B | | | | | | | | |
11.75%, 12/15/09 | | B2 | | $ | 250 | | $ | 271,575 |
| | | | | | | |
|
|
Services Cyclical – Distribution/Logistical — 1.1% | | | | | | | | |
ACCO Brands Corp., Co. Gtd. Notes | | | | | | | | |
7.625%, 08/15/15 | | B2 | | | 125 | | | 118,750 |
Interline Brands, Inc., Sr. Sub. Notes | | | | | | | | |
11.50%, 05/15/11 | | B3 | | | 125 | | | 138,750 |
Ray Acquisition SCA, Sr. Sub. Notes (France) | | | | | | | | |
9.375%, 03/15/15 | | Caa1 | | | EUR 625 | | | 851,585 |
| | | | | | | |
|
|
| | | | | | | | | 1,109,085 |
| | | | | | | |
|
|
Services Cyclical – Rental Equipment — 1.1% | | | | | | | | |
Hertz Corp., Sr. Sub. Notes | | | | | | | | |
8.875%, 01/01/14 | | | | $ | 465 | | | 494,062 |
10.50%, 01/01/16(a) | | | | | 250 | | | 276,563 |
United Rentals North America, Inc., Sr. Sub. Notes, 144A (a) | | | | | | | | |
7.75%, 11/15/13 | | B2 | | | 375 | | | 376,875 |
| | | | | | | |
|
|
| | | | | | | | | 1,147,500 |
| | | | | | | |
|
|
Technology — 0.2% | | | | | | | | |
Sanmina-SCI Corp., Sr. Sub. Notes | | | | | | | | |
8.125%, 03/01/16 | | B1 | | | 175 | | | 177,625 |
| | | | | | | |
|
|
Technology – Hardware — 0.2% | | | | | | | | |
Lucent Technologies, Inc., Debs. | | | | | | | | |
6.45%, 03/15/29 | | B2 | | | 250 | | | 221,875 |
| | | | | | | |
|
|
Technology – Software/Services — 0.9% | | | | | | | | |
Activant Solutions, Inc., Sr. Notes | | | | | | | | |
10.50%, 06/15/11 | | B2 | | | 125 | | | 137,944 |
Sungard Data Systems, Inc.,(a) | | | | | | | | |
Sr. Unsec’d. Notes, 144A | | | | | | | | |
9.125%, 08/15/13 | | B3 | | | 475 | | | 507,062 |
Sr. Sub. Notes, 144A | | | | | | | | |
10.25%, 08/15/15 | | Caa1 | | | 250 | | | 268,750 |
| | | | | | | |
|
|
| | | | | | | | | 913,756 |
| | | | | | | |
|
|
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Telecommunications — 5.8% | | | | | | | | |
Cincinnati Bell, Inc., Sr. Sub. Notes (a) | | | | | | | | |
8.375%, 01/15/14 | | B3 | | $ | 625 | | $ | 639,062 |
Citizens Communications Co., Sr. Notes | | | | | | | | |
6.25%, 01/15/13 | | Ba3 | | | 250 | | | 242,813 |
9.00%, 08/15/31 | | Ba3 | | | 10 | | | 10,725 |
9.25%, 05/15/11 | | Ba3 | | | 250 | | | 274,687 |
Eircom Funding, Gtd. Notes (Ireland) (l) | | | | | | | | |
8.25%, 08/15/13 | | B1 | | | 125 | | | 134,375 |
Hawaiian Telcom Communications, Inc., Sr. Notes, 144A | | | | | | | | |
9.75%, 05/01/13 | | B3 | | | 200 | | | 207,000 |
Nordic Tel Co. Holdings,. Sr. Notes (Denmark) (g)(l) | | | | | | | | |
8.875%, 05/01/16 | | B2 | | | 400 | | | 414,000 |
Qwest Capital Funding, Inc. Co. Gtd. | | | | | | | | |
7.625%, 08/03/21 | | B3 | | | 150 | | | 149,063 |
7.90%, 08/15/10 (a) | | Caa2 | | | 250 | | | 256,563 |
Qwest Communications International, Inc., Co. Gtd. Notes | | | | | | | | |
7.50%, 02/15/14 | | B2 | | | 650 | | | 654,875 |
Qwest Corp., Notes | | | | | | | | |
6.875%, 09/15/33 | | Ba3 | | | 975 | | | 900,656 |
8.875%, 03/15/12(a) | | Ba3 | | | 500 | | | 547,500 |
Rogers Wireless Communications, Inc., Sec’d. Notes (Canada) (l) | | | | | | | | |
6.375%, 03/01/14 | | Ba3 | | | 730 | | | 719,050 |
Rogers Wireless, Inc.(l) | | | | | | | | |
Sec’d. Notes | | | | | | | | |
7.50%, 03/15/15 | | Ba3 | | | 250 | | | 263,125 |
Sec’d. Notes, 144A | | | | | | | | |
8.00%, 12/15/12(a) | | B2 | | | 125 | | | 131,250 |
Rural Cellular Corp., Sr. Notes | | | | | | | | |
9.875%, 02/01/10 | | Caa1 | | | 250 | | | 265,625 |
91
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
Time Warner Telecom Holdings, Inc., Co. Gtd. Notes | | | | | | | | |
9.25%, 02/15/14 | | B3 | | $ | 250 | | $ | 266,250 |
| | | | | | | |
|
|
| | | | | | | | | 6,076,619 |
| | | | | | | |
|
|
Telecommunications – Cellular — 2.7% | | | | | | | | |
Alamosa Delaware, Inc., | | | | | | | | |
Sr. Notes | | | | | | | | |
8.50%, 01/31/12 | | Caa1 | | | 125 | | | 133,906 |
Co. Gtd. Notes | | | | | | | | |
12.00%, 07/31/09 | | Caa1 | | | 125 | | | 133,906 |
American Cellular Corp., Sr. Notes | | | | | | | | |
10.00%, 08/01/11 | | B3 | | | 250 | | | 271,250 |
American Tower Corp., Sr. Notes | | | | | | | | |
7.50%, 05/01/12 | | B3 | | | 250 | | | 256,250 |
Dobson Cellular Systems, Inc., Sec’d. Notes | | | | | | | | |
9.875%, 11/01/12 | | B3 | | | 125 | | | 136,563 |
Hellas Telecommunications, Sec’d. Notes (Luxembourg) | | | | | | | | |
8.50%, 10/15/13 | | B3 | | | EUR 250 | | | 335,114 |
Nextel Communications, Sr. Notes | | | | | | | | |
7.375%, 08/01/15 | | Ba3 | | $ | 125 | | | 130,497 |
Nextel Partners, Inc., Sr. Notes | | | | | | | | |
8.125%, 07/01/11 | | B3 | | | 100 | | | 104,750 |
US Unwired, Inc., Sec’d. Notes, 144A | | | | | | | | |
10.00%, 06/15/12 | | Caa1 | | | 250 | | | 280,000 |
Wind Acquisition Finance SA, Gtd. Notes (Luxembourg) (a)(g)(l) | | | | | | | | |
10.75%, 12/01/15 | | B3 | | | 1,000 | | | 1,105,000 |
| | | | | | | |
|
|
| | | | | | | | | 2,887,236 |
| | | | | | | |
|
|
Telecommunications – Satellites — 0.9% | | | | | | | | |
Inmarsat Finance PLC, Co. Gtd. Notes, Zero Coupon (until 11/15/08) | | | | | | | | |
10.375%, (v) 11/15/12 | | CCC+(d) | | | 250 | | | 215,000 |
Intelsat Ltd., Notes (Bermuda) (l) | | | | | | | | |
7.625%, 04/15/12 | | Caa1 | | | 250 | | | 214,375 |
|
|
| | | Moody’s
Ratings | | Principal
Amount (000) | | Value (Note 2) |
|
PanAmSat Corp., Gtd. Notes | | | | | | | | |
9.00%, 08/15/14 | | B1 | | $ | 325 | | $ | 341,656 |
PanAmSat Holding Corp., Sr. Disc. Notes, Zero Coupon (until 11/01/09) | | | | | | | | |
10.375%, (v) 11/01/14 | | B3 | | | 250 | | | 180,625 |
| | | | | | | |
|
|
| | | | | | | | | 951,656 |
| | | | | | | |
|
|
Textiles & Apparel — 1.2% | | | | | | | | |
Propex Fabrics, Inc., Co. Gtd. Notes | | | | | | | | |
10.00%, 12/01/12 | | B3 | | | 125 | | | 117,500 |
Quicksilver, Inc., Gtd. Notes (a) | | | | | | | | |
6.875%, 04/15/15 | | B1 | | | 600 | | | 579,000 |
Russell Corp., Gtd. Notes | | | | | | | | |
9.25%, 05/01/10 | | B1 | | | 275 | | | 287,375 |
Warnaco, Inc., Sr. Notes | | | | | | | | |
8.875%, 06/15/13 | | B1 | | | 250 | | | 263,125 |
| | | | | | | |
|
|
| | | | | | | | | 1,247,000 |
| | | | | | | |
|
|
Tobacco — 0.5% | | | | | | | | |
Alliance One International, Inc., Co. Gtd. Notes, 144A | | | | | | | | |
11.00%, 05/15/12 | | B2 | | | 250 | | | 237,500 |
RJ Reynolds Tobacco Holdings, Inc., Gtd. Notes | | | | | | | | |
7.25%, 06/01/12 | | Ba2 | | | 250 | | | 255,000 |
| | | | | | | |
|
|
| | | | | | | | | 492,500 |
| | | | | | | |
|
|
Transportation — 0.3% | | | | | | | | |
Horizon Lines LLC, Co. Gtd. Notes | | | | | | | | |
9.00%, 11/01/12 | | B3 | | | 200 | | | 208,250 |
Stena AB, Sr. Notes (l) | | | | | | | | |
9.625%, 12/01/12 | | Ba3 | | | 125 | | | 134,688 |
| | | | | | | |
|
|
| | | | | | | | | 342,938 |
| | | | | | | |
|
|
Utilities – Distribution — 0.4% | | | | | | | | |
Inergy LP Inergy Finance Corp., Sr. Notes | | | | | | | | |
6.875%, 12/15/14 | | B1 | | | 125 | | | 118,125 |
Suburban Propane Partners LP, Sr. Notes | | | | | | | | |
6.875%, 12/15/13 | | B1 | | | 305 | | | 288,988 |
| | | | | | | |
|
|
| | | | | | | | | 407,113 |
| | | | | | | |
|
|
92
| | | | | | | | |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Utilities – Electric — 5.6% | | | | | | | | |
AES Corp., Sec’d. Notes, 144A | | | | | | | | |
8.75%, 05/15/13 | | Ba3 | | $ | 500 | | $ | 541,250 |
Calpine Canada Energy, Gtd. Notes (Canada) (a)(i)(l) | | | | | | | | |
8.50%, 05/01/08 | | D(d) | | | 125 | | | 70,313 |
Calpine Corp., Sec’d. Notes (a)(i) | | | | | | | | |
8.50%, 07/15/10 | | D(d) | | | 250 | | | 228,750 |
CMS Energy Corp., Sr. Notes | | | | | | | | |
6.30%, 02/01/12 | | B1 | | | 410 | | | 398,725 |
Dynegy Holdins, Inc., Sr. Unsec’d. Notes (g) | | | | | | | | |
8.375%, 05/01/16 | | B2 | | | 450 | | | 447,750 |
Midwest Generation LLC, Sec’d. Notes | | | | | | | | |
8.75%, 05/01/34 | | B1 | | | 1,290 | | | 1,393,200 |
Mirant North America LLC, Sr. Notes, 144A (a) | | | | | | | | |
7.375%, 12/31/13 | | B1 | | | 125 | | | 125,469 |
Mission Energy Holding Co., Sec’d. Notes | | | | | | | | |
13.50%, 07/15/08 | | B2 | | | 125 | | | 142,031 |
NRG Energy, Inc., Co. Gtd. | | | | | | | | |
7.375%, 02/01/16 | | B1 | | | 1,065 | | | 1,074,319 |
PSEG Energy Holdings LLC, Sr. Notes, 144A | | | | | | | | |
8.50%, 06/15/11 | | Ba3 | | | 675 | | | 722,250 |
Reliant Energy, Inc., Sec’d. Notes | | | | | | | | |
6.75%, 12/15/14 | | B2 | | | 370 | | | 336,700 |
Reliant Resources, Inc., Sec’d. Notes (a) | | | | | | | | |
9.25%, 07/15/10 | | B1 | | | 250 | | | 253,437 |
Tenaska Alabama Partners LP, Sec’d. Notes | | | | | | | | |
7.00%, 06/30/21 | | B1 | | | 158 | | | 155,858 |
| | | | | | | |
|
|
| | | | | | | | | 5,890,052 |
| | | | | | | |
|
|
Utilities – Pipelines — 5.0% | | | | | | | | |
El Paso Corp., Sr. Notes | | | | | | | | |
6.75%, 05/15/09 | | Caa1 | | | 250 | | | 248,438 |
7.80%, 08/01/31 | | Caa1 | | | 750 | | | 742,500 |
Notes (a) | | | | | | | | |
7.875%, 06/15/12 | | Caa1 | | | 750 | | | 776,250 |
|
| | | Moody’s
Ratings | | Principal
Amount
(000) | | Value (Note 2) |
|
Southern Natural Gas Co., Notes | | | | | | | | |
8.00%, 03/01/32 | | B1 | | $ | 250 | | $ | 267,277 |
Tennessee Gas Pipeline Co., | | | | | | | | |
Debs. | | | | | | | | |
7.50%, 04/01/17 | | B1 | | | 500 | | | 521,951 |
Bonds | | | | | | | | |
8.375%, 06/15/32 | | B1 | | | 350 | | | 386,758 |
Transcont Gas Pipe Line Corp., Sr. Notes, Series B | | | | | | | | |
8.875%, 07/15/12 | | Ba2 | | | 475 | | | 538,531 |
Williams Cos., Inc., | | | | | | | | |
Sr. Notes | | | | | | | | |
7.625%, 07/15/19 | | B1 | | | 750 | | | 787,500 |
Notes | | | | | | | | |
7.875%, 09/01/21 (a) | | B1 | | | 500 | | | 532,500 |
8.125%, 03/15/12 | | B1 | | | 375 | | | 402,656 |
| | | | | | | |
|
|
| | | | | | | | | 5,204,361 |
| | | | | | | |
|
|
Total Corporate Bonds
(Cost $99,240,506) | | | | | | | | 101,363,028 |
| | | | | | | |
|
|
Foreign Government Bonds — 0.8% | | | | | | | | |
Federal Republic of Brazil | | | | | | | | |
10.50%, 07/14/14 | | EUR | | | 162 | | | 200,880 |
11.00%, 08/17/40 | | EUR | | | 523 | | | 673,362 |
| | | | | | | |
|
|
Total Foreign Government Bonds
(Cost $871,885) | | | | | | | | 874,242 |
| | | | | | | |
|
|
| | | |
| | | | | Shares
| | |
Preferred Stocks — 0.1% | | | | | | | | |
Publishing | | | | | | | | |
Ziff Davis Media, Inc., Series E, 10.00%, PIK | | | | | 2 | | | 360 |
| | | | | | | |
|
|
Retailers — 0.1% | | | | | | | | |
General Nutrition Center, Series A, 12.00%, PIK | | | | | 125 | | | 137,813 |
| | | | | | | |
|
|
Total Preferred Stocks
(Cost $125,751) | | | | | | | | 138,173 |
| | | | | | | |
|
|
93
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | | |
| |
| | |
| | | Units | | Value (Note 2) | |
| |
Warrants* — 0.1% | | | | | | | |
Chemicals | | | | | | | |
General Chemical Industry Product, Inc., Series A, 144A (g) Expiring 04/30/11 | | | 103 | | $ | 0 | |
General Chemical Industry Product, Inc., Series B, (g) Expiring 04/30/11 | | | 77 | | | 0 | |
| | | | | |
|
|
|
| | | | | | | 0 | |
| | | | | |
|
|
|
Metals — 0.1% | | | | | | | |
ACP Holding Corp., Expiring 10/07/13 | | | 39,024 | | | 65,365 | |
| | | | | |
|
|
|
Packaging | | | | | | | |
Pliant Corp., Expiring 06/01/10, 144A (g)(z) | | | 475 | | | 5 | |
| | | | | |
|
|
|
Paper | | | | | | | |
MDP Acquisitions PLC, Expiring 10/01/13 (Ireland) | | | 275 | | | 5,638 | |
| | | | | |
|
|
|
Publishing | | | | | | | |
Advanstar Holdings Corp., Expiring 10/15/11, 144A | | | 225 | | | 2 | |
Ziff Davis Media, Inc., Expiring 08/12/12 | | | 4,400 | | | 44 | |
| | | | | |
|
|
|
| | | | | | | 46 | |
| | | | | |
|
|
|
Total Warrants (Cost $434) | | | | | | 71,054 | |
| | | | | |
|
|
|
| | | Shares
| | | |
Common Stocks | | | | | | | |
Chemicals | | | | | | | |
General Chemicals Industry Products (g)* | | | 179 | | | 49,907 | |
| | | | | |
|
|
|
Packaging | | | | | | | |
Russell Stanley Holdings, Inc. (g)(z)* | | | 6,000 | | | 0 | |
| | | | | |
|
|
|
Total Common Stocks
(Cost $577,331) | | | | | | 49,907 | |
| | | | | |
|
|
|
Rights | | | | | | | |
Sleepmaster Membership Interests* (Cost $0) | | | 264 | | | 0 | |
| | | | | |
|
|
|
Total Long-Term Investments
(Cost $100,815,907) | | | | | | 102,496,404 | |
| |
| | |
| | | Shares | | Value (Note 2) | |
| |
Short-Term Investments — 21.0% | | | | | | | |
Affiliated Money Market Mutual Fund — 16.6% | | | | | | | |
Dryden Core Investment Fund -Taxable Money Market Series (Cost $17,386,040; includes $15,813,269 of cash collateral received for securities on loan) (b)(w) | | | 17,386,040 | | $ | 17,386,040 | |
| | | | | |
|
|
|
| | |
| | | Principal
Amount (000)
| | | |
U.S. Treasury Obligations — 4.4% | | | | | | | |
U. S. Treasury Bills (k)(n) | | | | | | | |
4.51%, 06/15/06 | | $ | 640 | | | 636,392 | |
4.52%, 06/15/06 | | | 640 | | | 636,384 | |
4.531%, 06/15/06 | | | 640 | | | 636,375 | |
4.545%, 06/15/06 | | | 60 | | | 59,646 | |
4.546%, 06/15/06 | | | 640 | | | 636,364 | |
4.55%, 06/15/06 | | | 140 | | | 139,175 | |
4.553%, 06/15/06 | | | 640 | | | 636,358 | |
4.565%, 06/15/06 | | | 1,280 | | | 1,272,454 | |
| | | | | |
|
|
|
Total U.S. Treasury Obligations
(Cost $4,653,432) | | | | | | 4,653,148 | |
| | | | | |
|
|
|
| | |
| | | Number of
Contracts
| | | |
Outstanding Options Purchased | | | | | | | |
Put Options | | | | | | | |
Eurodollar Futures, Strike Price $91.75, Expiring 03/19/07 | | | 47 | | | 294 | |
Eurodollar Futures, Strike Price $92.50, Expiring 12/18/06 | | | 21 | | | 52 | |
| | | | | |
|
|
|
Total Outstanding Options Purchased (Cost $646) | | | | | | 346 | |
| | | | | |
|
|
|
Total Short-Term Investments (Cost $22,040,118) | | | | | | 22,039,534 | |
| | | | | |
|
|
|
Total Investments — 118.5% (Cost $122,856,025; Note 5) (o) | | | | | | 124,535,938 | |
Liabilities In Excess of Other Assets (u) — (18.5)% | | | | | | (19,473,298 | ) |
| | | | | |
|
|
|
Net Assets — 100.0% | | | | | $ | 105,062,640 | |
| | | | | |
|
|
|
94
The following abbreviations are used in portfolio descriptions:
| 144A | Security was purchased pursuant to Rule 144A under the securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted 144A securities are deemed to be liquid. |
| NR | Not rated by Moody’s or Standard & Poor’s |
| * | Non-income producing security. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities is $15,352,064; cash collateral of $15,813,269 (included with liabilities) was received with which the portfolio purchased highly liquid short-term investments. |
| (b) | Represents security, or a portion thereof, purchased with cash collateral received for securities on loan. |
| (c) | Indicates a variable rate security. The maturity date presented for these instruments is the next date on which the rate of interest is adjusted. |
| (d) | Standard & Poor’s rating. |
| (g) | Indicates a security that has been deemed illiquid. |
| (i) | Represents issuer in default on interest payments. Non-income producing security. |
| (k) | Securities segregated as collateral for futures contracts. |
| (l) | US$ Denominated Foreign Bonds. |
| (n) | Rates shown are the effective yields at purchase date. |
| (o) | As of April 30, 2006, 5 securities representing $49,912 and 0.04% of the total market value were fair valued in accordance with policies adopted by the Board of Directors. |
| (u) | Liabilities in excess of other assets include net unrealized appreciation (depreciation) on financial futures, foreign currency contracts, interest rate and credit default swaps as follows: |
Open futures contracts at April 30, 2006:
| | | | | | | | | | | | | | |
Number of Contracts | | Type | | Expiration
Month | | Value at
Trade Date | | Value at
April 30, 2006 | | Unrealized
Appreciation
Depreciation | |
| |
Long Positions: | | | | | | | | | | | | | | |
44 | | Euro Dollar | | Jun 07 | | $ | 10,427,450 | | $ | 10,429,100 | | $ | 1,650 | |
44 | | Euro Dollar | | Sep 07 | | | 10,430,200 | | | 10,429,650 | | | (550 | ) |
44 | | Euro Dollar | | Dec 07 | | | 10,429,650 | | | 10,428,550 | | | (1,100 | ) |
47 | | Euro Dollar | | Mar 08 | | | 10,428,000 | | | 10,426,900 | | | (1,100 | ) |
| | | | | | | | | | | | |
|
|
|
| | | | | | | | | | | | | $ | (1,100 | ) |
| | | | | | | | | | | | |
|
|
|
| | | | | |
Number of Contracts | | Type | | Expiration
Month | | Value at
Trade Date | | Value at April 30, 2006 | | Unrealized
Appreciation | |
| |
Short Positions: | | | | | | | | | | | | | | |
| | | U.S. Treasury | | | | | | | | | | | | |
51 | | 10 Year Note | | Jun 06 | | $ | 5,397,234 | | $ | 5,384,484 | | $ | 12,750 | |
| | | | | | | | | | | | |
|
|
|
Forward foreign currency exchange contracts outstanding at April 30, 2006:
Purchase Contracts
| | | | | | | | | | | | | | |
Settlement Month | | Type | | Contracts to
Receive | | In Exchange For | | Value at April 30, 2006 | | Unrealized
Appreciation | |
| |
May 06 | | Buy EUR | | 9,864,506 | | $ | 12,028,515 | | $ | 12,461,257 | | $ | 432,742 | |
May 06 | | Buy GBP | | 293,771 | | | 515,922 | | | 535,797 | | | 19,875 | |
| | | | | | |
|
|
|
| | | | | | | $ | 12,544,437 | | $ | 12,997,054 | | $ | 452,617 | |
| | | | | | |
|
|
|
| | | | | |
Sale Contracts | | | | | | | | | | | | | | |
| | | | | |
Settlement Month | | Type | | Contracts to
Deliver | | In Exchange For | | Value at April 30, 2006 | | Unrealized
Depreciation | |
| |
May 06 | | Sell EUR | | 16,103,539 | | $ | 19,431,549 | | $ | 20,343,072 | | $ | (911,523 | ) |
May 06 | | Sell GBP | | 425,708 | | | 740,237 | | | 776,506 | | | (36,269 | ) |
| | | | | | |
|
|
|
| | | | | | | $ | 20,171,786 | | $ | 21,119,578 | | $ | (947,792 | ) |
| | | | | | |
|
|
|
Interest rate swap agreements outstanding at April 30, 2006:
| | | | | | | | | |
| Description | | Expiration
Month | | Notional
Amount
(000) | | Unrealized
Appreciation
(Depreciation) | |
| |
Receive variable rate payments on the three month LIBOR-BBA floating rate and pay fixed rate payments of 5.0%.(1) | | Jun 16 | | $ | 1,000 | | $ | 15,907 | |
Receive variable rate payments on the three month LIBOR-BBA floating rate and pay fixed rate payments of 5.0%.(1) | | Dec 07 | | | 7,500 | | | (681 | ) |
| | | | | | | |
|
|
|
| | | | | | | | $ | 15,226 | |
| | | | | | | |
|
|
|
See Notes to Financial Statements.
95
Strategic Partners High Yield Bond Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
Credit default swap agreements outstanding at April 30, 2006:
| | | | | | | | | |
| Description | | Expiration
Month | | Notional
Amount
(000) | | Unrealized
Depreciation | |
| |
Receive a fixed rate equal to 1.00% and the Portfolio will pay to the counterparty at par in the event of default of ABITIBI SP, 8.55%, due 08/01/10 (1) | | Sep 06 | | $ | 100 | | $ | (43 | ) |
| | | | | | | |
|
|
|
| | | | | | | | $ | (43 | ) |
| | | | | | | |
|
|
|
Broker/Counterparty:
| (v) | The rate shown reflects the coupon rate after the step date. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The industry classification of long-term portfolio holdings, short-term investments and liabilities in excess of other assets shown as a percentage of net assets as of April 30, 2006 were as follows:
| | | |
Affiliated Money Market Mutual Fund (14.6% represents investment purchased with collateral
received from securities on loan) | | 16.6 | % |
Telecommunications | | 5.8 | |
Chemicals | | 5.7 | |
Gaming | | 5.7 | |
Utilities - Electric | | 5.6 | |
Utilities - Pipelines | | 5.0 | |
U.S. Treasury Obligations | | 4.4 | |
Media - Cable | | 4.0 | |
Financial Services | | 3.2 | |
Paper | | 2.9 | |
Publishing | | 2.9 | |
Health Care - Services | | 2.8 | |
Automotive - OEM | | 2.7 | |
Automotive Parts | | 2.7 | |
Telecommunications - Cellular | | 2.7 | |
Media | | 2.3 | |
Consumer Products - Household & Leisure | | 2.1 | |
Packaging | | 1.7 | |
Aerospace | | 1.5 | |
Energy - E&P | | 2.0 | |
Entertainment & Leisure | | 1.5 | |
Environmental | | 1.5 | |
Building Materials - Fixtures & Fittings | | 1.3 | |
Conglomerates | | 1.3 | |
Agriculture | | 1.2 | |
Textiles & Apparel | | 1.2 | |
Commercial Services | | 1.1 | |
Containers & Packaging | | 1.1 | |
Defense | | 1.1 | |
Food | | 1.1 | |
Metals | | 1.1 | |
Services Cyclical - Distribution/Logistical | | 1.1 | |
Services Cyclical - Rental Equipment | | 1.1 | |
Paper & Forest Products | | 1.0 | |
Health Care - Medical Products | | 1.0 | |
Hospitals/Hospital Management | | 0.9 | |
Medical Supplies & Equipment | | 0.9 | |
Retailers | | 0.9 | |
Technology - Software/Services | | 0.9 | |
Telecommunications - Satellites | | 0.9 | |
Consumer Products - Non Durable | | 0.8 | |
Food & Beverage | | 0.8 | |
Foreign Government Bonds | | 0.8 | |
Lodging | | 0.8 | |
Capital Goods - Others | | 0.7 | |
Oil & Gas Exploration/Production | | 0.7 | |
Retailers - Food & Drug | | 0.6 | |
Consumer Products - Industrial | | 0.5 | |
Healthcare - Pharmaceuticals | | 0.5 | |
Machinery | | 0.5 | |
Oil, Gas & Consumable Fuels | | 0.5 | |
Tobacco | | 0.5 | |
Media - Broadcasting & Radio | | 0.4 | |
Semiconductors | | 0.4 | |
Utilities - Distribution | | 0.4 | |
Business Services | | 0.3 | |
Distribution/Wholesale | | 0.3 | |
Electronic Components | | 0.3 | |
Forest & Paper | | 0.3 | |
Manufacturing | | 0.3 | |
Metals & Mining | | 0.3 | |
Real Estate | | 0.3 | |
Restaurants | | 0.3 | |
Services Cyclical - Consumer Services | | 0.3 | |
Transportation | | 0.3 | |
Building Materials | | 0.2 | |
Building Materials - Consumer | | 0.2 | |
Cable | | 0.2 | |
Energy - Coal | | 0.2 | |
Industrial | | 0.2 | |
Internet Services | | 0.2 | |
Printing | | 0.2 | |
Technology | | 0.2 | |
Technology - Hardware | | 0.2 | |
Home Construction | | 0.1 | |
Personal Services | | 0.1 | |
Services Cyclical - Business Services | | 0.1 | |
| | |
|
|
| | | 118.5 | % |
Liabilities In Excess of Other Assets | | (18.5 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
96
Strategic Partners Money Market Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | |
|
| | |
| | | Principal Amount
(000) | | Value (Note 2) |
|
Commercial Paper — 42.4% | | | | | | |
Amsterdam Funding Corp. 144A (g)(n) | | | | | | |
4.90%, 05/22/06 | | $ | 1,600 | | $ | 1,595,427 |
Bank of Ireland 144A (g)(n) | | | | | | |
4.78%, 05/08/06 | | | 1,500 | | | 1,498,606 |
BASF AG (g)(n) 144A | | | | | | |
4.77%, 05/10/06 | | | 1,000 | | | 998,808 |
4.79%, 05/10/06 | | | 621 | | | 620,256 |
Citigroup Funding (n) | | | | | | |
4.77%, 05/08/06 | | | 1,000 | | | 999,073 |
4.77%, 05/09/06 | | | 1,000 | | | 998,940 |
Greenwich Capital Holdings, Inc. (c)(n) | | | | | | |
4.812%, 05/11/06 | | | 4,500 | | | 4,500,000 |
Norddeutsche Landesbank 144A (g)(n) | | | | | | |
4.78%, 05/04/06 | | | 1,750 | | | 1,749,303 |
Nyala Funding LLC 144A (g)(n) | | | | | | |
4.75%, 05/15/06 | | | 2,000 | | | 1,996,306 |
Old Line Funding Corp. 144A (g)(n) | | | | | | |
4.78%, 05/01/06 | | | 2,000 | | | 2,000,000 |
Park Granada 144A (g)(n) | | | | | | |
4.90%, 05/01/06 | | | 909 | | | 909,000 |
PB Finance Delaware (n) | | | | | | |
4.79%, 05/03/06 | | | 1,095 | | | 1,094,709 |
Sheffield Receivables 144A (g)(n) | | | | | | |
4.89%, 05/22/06 | | | 3,495 | | | 3,485,031 |
Skandinav Enskilda Bank, Notes 144A (c)(g) | | | | | | |
4.97%, 11/29/06 | | | 5,000 | | | 4,999,853 |
Societe Generale NA (n) | | | | | | |
4.78%, 05/10/06 | | | 2,000 | | | 1,997,610 |
Total Capital 144A (g)(n) | | | | | | |
4.83%, 05/01/06 | | | 4,000 | | | 4,000,000 |
Tulip Funding Corp. 144A (g)(n) | | | | | | |
4.97%, 05/31/06 | | | 2,000 | | | 1,991,717 |
4.99%, 05/31/06 | | | 2,000 | | | 1,991,683 |
UBS Finance (De) LLC (n) | | | | | | |
4.76%, 05/08/06 | | | 1,600 | | | 1,598,519 |
| | | | | |
|
|
Total Commercial Paper
(Cost $39,024,841) | | | | | | 39,024,841 |
| | | | | |
|
|
Certificates of Deposit — 20.1% | | | | | | |
Australia & New Zealand Bank | | | | | | |
4.81%, 01/29/07 | | | 2,000 | | | 1,999,711 |
|
| | |
| | | Principal
Amount
(000) | | Value (Note 2) |
|
BNP Paribas NY Branch (c) | | | | | | |
4.839%, 06/19/06 | | $ | 2,000 | | $ | 1,999,940 |
Branch Banking & Trust | | | | | | |
4.67%, 08/10/06 | | | 5,000 | | | 4,999,854 |
Credit Suisse First Boston NY (c) | | | | | | |
4.819%, 05/09/06 | | | 5,000 | | | 5,000,004 |
Royal Bank of Scotland PLC | | | | | | |
4.30%, 09/28/06 | | | 1,000 | | | 1,000,000 |
Wells Fargo & Co. | | | | | | |
4.80%, 01/06/07 | | | 3,500 | | | 3,500,295 |
| | | | | |
|
|
Total Certificates of Deposit
(Cost $18,499,804) | | | | | | 18,499,804 |
| | | | | |
|
|
Time Deposits — 4.3% | | | | | | |
National Australia | | | | | | |
4.83%, 05/01/06 (Cost $4,000,000) | | | 4,000 | | | 4,000,000 |
| | | | | |
|
|
Corporate Obligations — 33.1% | | | | | | |
American Express Credit Corp., Sr. Notes, MTN, 144A (c)(g) | | | | | | |
4.973%, 05/18/07 | | | 4,000 | | | 4,000,658 |
Bank of America Corp., Notes | | | | | | |
7.50%, 09/15/06 | | | 3,000 | | | 3,035,253 |
Bank One Corp., Notes, MTN (c) | | | | | | |
5.02%, 09/15/06 | | | 1,210 | | | 1,210,559 |
HSBC USA, Inc., Sr. Notes, MTN (c) | | | | | | |
4.881%, 05/15/07 | | | 4,000 | | | 4,000,000 |
Irish Life & Permanent PLC, Notes, MTN, 144A (c)(g) | | | | | | |
4.949%, 05/21/07 | | | 1,000 | | | 1,000,099 |
JPMorgan Chase & Co., Sr. Notes | | | | | | |
5.625%, 08/15/06 | | | 3,000 | | | 3,011,633 |
Merrill Lynch & Co., Notes, MTN (c) | | | | | | |
4.881%, 05/15/07 | | | 4,600 | | | 4,600,000 |
National City Bank (c) Notes, MTN | | | | | | |
4.97%, 07/26/06 | | | 1,650 | | | 1,650,101 |
Notes | | | | | | |
5.01%, 02/14/07 | | | 3,000 | | | 3,000,000 |
Nationwide Building Society, Notes, 144A (c)(g) | | | | | | |
5.025%, 04/27/07 | | | 3,000 | | | 3,001,865 |
Paccar Financial Corp., Notes, MTN (c) | | | | | | |
4.86%, 05/11/07 | | | 2,000 | | | 2,000,000 |
| | | | | |
|
|
Total Corporate Obligations
(Cost $30,510,168) | | | | | | 30,510,168 |
| | | | | |
|
|
Total Debt Instruments
(Cost $92,034,813) | | | | | | 92,034,813 |
| | | | | |
|
|
97
Strategic Partners Money Market Fund
SCHEDULE OF INVESTMENTS
April 30, 2006
(Unaudited)
| | | | | | |
| |
| | | Shares | | Value (Note 2) | |
| |
Affiliated Money Market Mutual Fund — 0.7% | | | | | | |
Dryden Core Investment Fund - Taxable Money Market Series (w)
(Cost $663,288) | | 663,288 | | $ | 663,288 | |
| | | | |
|
|
|
Total Investments — 100.7%
(Cost $92,698,101; Note 5) † | | | | | 92,698,101 | |
Liabilities In Excess of Other Assets — (0.7)% | | | | | (628,615 | ) |
| | | | |
|
|
|
Net Assets — 100.0% | | | | $ | 92,069,486 | |
| | | | |
|
|
|
The following abbreviations are used in portfolio descriptions:
| 144 | A Security was purchased pursuant to Rule 144A under the securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. At the end of the current reporting period, the aggregate amortized cost of such securities was $35,838,615. The aggregate market value of $35,838,615 is approximately 38.9% of net assets. These securities have been deemed liquid under procedures established by the Board of Directors. |
| † | The cost of securities for federal income tax purposes is substantially the same as for financial reporting purposes. |
| (c) | Indicates a variable rate security. The maturity date presented for these instruments is the next date on which the rate of interest is adjusted. |
| (g) | Indicates a security that has been deemed illiquid. |
| (n) | Rates shown are the effective yields at purchase date. |
| (w) | Prudential Investments LLC, the manager of the Fund also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series. |
The following is a breakdown of the money market portfolio by industry classification, as of April 30, 2006. Percentages are based on net assets:
| | | |
Commercial Paper | | 42.4 | % |
Financial Services | | 23.3 | |
Certificates of Deposit | | 20.1 | |
Financial - Bank & Trust | | 6.6 | |
Time Deposits | | 4.3 | |
Financial - Brokerage | | 3.3 | |
Affiliated Money Market Mutual Fund | | 0.7 | |
| | |
|
|
| | | 100.7 | % |
Liabilities In Excess of Other Assets | | (0.7 | ) |
| | |
|
|
Total | | 100.0 | % |
| | |
|
|
See Notes to Financial Statements.
98
This Page Intentionally Left Blank
99
Statements of Assets and Liabilities
APRIL 30, 2006 (UNAUDITED)
| | | | | | | | | | | | | | | | | | | | |
| |
| | | STRATEGIC
PARTNERS
INTERNATIONAL
GROWTH FUND
| | | STRATEGIC
PARTNERS
SMALL CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS
MID-CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS
MID CAP
VALUE FUND
| | | STRATEGIC
PARTNERS
TECHNOLOGY
FUND
| |
ASSETS | | | | | | | | | | | | | | | | | | | | |
Investments at Value: Unaffilliated investments (A) including Securities on Loan (D) | | $ | 275,410,271 | | | $ | 106,420,159 | | | $ | 128,694,271 | | | $ | 424,551,472 | | | $ | 14,362,974 | |
Affiliated investments (B) | | | 5,780,237 | | | | 22,981,123 | | | | 35,993,253 | | | | 72,820,039 | | | | 913,367 | |
Foreign Currency at Value (C) | | | 451,927 | | | | — | | | | — | | | | — | | | | — | |
Cash (F) | | | 806,483 | | | | 134 | | | | — | | | | — | | | | 71,693 | |
Receivable for: | | | | | | | | | | | | | | | | | | | | |
Securities Sold | | | 7,992,849 | | | | 1,088,541 | | | | 4,320,658 | | | | 4,090,969 | | | | — | |
Dividends and Interest | | | 952,749 | | | | 21,091 | | | | 38,630 | | | | 1,475,373 | | | | 3,261 | |
Fund Shares Sold | | | 867,032 | | | | 135,174 | | | | 96,117 | | | | 344,860 | | | | 18,191 | |
Receivable from Investment Manager | | | — | | | | — | | | | — | | | | — | | | | 44,624 | |
Prepaid Expenses | | | 47,881 | | | | 28,455 | | | | 21,241 | | | | 6,899 | | | | 7,892 | |
Due From Broker – Variation Margin | | | — | | | | 9,150 | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Assets | | | 292,309,429 | | | | 130,683,827 | | | | 169,164,170 | | | | 503,289,612 | | | | 15,422,002 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
LIABILITIES | | | | | | | | | | | | | | | | | | | | |
Payable to Broker for Collateral for Securities on Loan | | | 3,022,730 | | | | 18,308,138 | | | | 35,801,659 | | | | 70,717,317 | | | | — | |
Payable to Investment Manager | | | 190,319 | | | | 54,111 | | | | 58,019 | | | | 511,433 | | | | — | |
Payable for: | | | | | | | | | | | | | | | | | | | | |
Securities Purchased | | | 7,984,826 | | | | 592,446 | | | | 3,321,288 | | | | 4,246,062 | | | | 458,989 | |
Fund Shares Redeemed | | | 1,284,529 | | | | 406,305 | | | | 391,070 | | | | 2,433,226 | | | | 52,283 | |
Transfer Agents’ Fees (E) | | | 829,146 | | | | 164,785 | | | | 442,219 | | | | 488,703 | | | | 84,388 | |
Payable to Custodian | | | — | | | | — | | | | 231,707 | | | | 1,252,862 | | | | — | |
Distribution Fees | | | 194,256 | | | | 76,289 | | | | 89,701 | | | | 349,177 | | | | 11,376 | |
Accrued Expenses and other liabilities | | | 176,279 | | | | 71,219 | | | | 157,147 | | | | 37,946 | | | | 32,063 | |
Deferred Directors’ Fees | | | 17,637 | | | | 8,305 | | | | 7,774 | | | | 8,643 | | | | 824 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Liabilities | | | 13,699,722 | | | | 19,681,598 | | | | 40,500,584 | | | | 80,045,369 | | | | 639,923 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Assets | | $ | 278,609,707 | | | $ | 111,002,229 | | | $ | 128,663,586 | | | $ | 423,244,243 | | | $ | 14,782,079 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net assets were comprised of: | | | | | | | | | | | | | | | | | | | | |
Common Stock, at $.001 Par Value | | $ | 16,759 | | | $ | 19,066 | | | $ | 25,494 | | | $ | 23,633 | | | $ | 4,873 | |
Paid-In-Capital in Excess of Par | | | 329,471,588 | | | | 220,078,077 | | | | 253,701,334 | | | | 319,706,544 | | | | 51,431,208 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 329,488,347 | | | | 220,097,143 | | | | 253,726,828 | | | | 319,730,177 | | | | 51,436,081 | |
Accumulated net investment loss | | | (5,907,340 | ) | | | (949,743 | ) | | | (1,137,263 | ) | | | (502,160 | ) | | | (138,508 | ) |
Accumulated net realized gain (loss) on investments and foreign currency transactions | | | (128,762,326 | ) | | | (124,176,036 | ) | | | (147,389,540 | ) | | | 23,975,637 | | | | (40,489,686 | ) |
Net unrealized appreciation on investments and foreign currency transactions | | | 83,791,026 | | | | 16,030,865 | | | | 23,463,561 | | | | 80,040,589 | | | | 3,974,192 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Assets, April 30, 2006 | | $ | 278,609,707 | | | $ | 111,002,229 | | | $ | 128,663,586 | | | $ | 423,244,243 | | | $ | 14,782,079 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(A) Unaffiliated Investments at Cost | | $ | 191,581,199 | | | $ | 90,389,294 | | | $ | 105,230,710 | | | $ | 344,510,883 | | | $ | 10,388,782 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(B) Affiliated Investments at Cost | | $ | 5,493,872 | | | $ | 4,672,985 | | | $ | 35,993,253 | | | $ | 72,820,039 | | | $ | 913,367 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(C) Foreign Currency at Cost | | $ | 406,169 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(D) Securities on Loan at Value | | $ | 2,916,441 | | | $ | 17,887,630 | | | $ | 34,311,139 | | | $ | 68,505,453 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(E) Affiliated Transfer Agent Fees | | $ | 342,200 | | | $ | 29,200 | | | $ | 226,300 | | | $ | 209,350 | | | $ | 36,000 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(F) Amount Segregated to Cover Open Futures Contracts | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
100
| | | | | | | | | | | | | | | | | | | | |
| | | STRATEGIC
PARTNERS
INTERNATIONAL
GROWTH FUND
| | | STRATEGIC
PARTNERS
SMALL CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS
MID-CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS MID
CAP VALUE FUND
| | | STRATEGIC
PARTNERS
TECHNOLOGY
FUND
| |
NET ASSET VALUE: | | | | | | | | | | | | | | | | | | | | |
Class A: Net Assets | | $ | 24,357,549 | | | $ | 14,232,120 | | | $ | 13,129,425 | | | $ | 47,205,166 | | | $ | 2,826,497 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 1,429,434 | | | | 2,366,824 | | | | 2,534,355 | | | | 2,520,915 | | | | 907,011 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 17.04 | | | $ | 6.01 | | | $ | 5.18 | | | $ | 18.73 | | | $ | 3.12 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Maximum Sales Charge | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Offering Price Per Share* | | $ | 18.03 | | | $ | 6.36 | | | $ | 5.48 | | | $ | 19.82 | | | $ | 3.30 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class B: Net Assets | | $ | 4,303,229 | | | $ | 8,485,703 | | | $ | 2,570,577 | | | $ | 56,013,171 | | | $ | 402,180 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 260,906 | | | | 1,483,581 | | | | 511,345 | | | | 3,166,761 | | | | 134,790 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 16.49 | | | $ | 5.72 | | | $ | 5.03 | | | $ | 17.69 | | | $ | 2.98 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class C: Net Assets | | $ | 54,131,591 | | | $ | 21,647,636 | | | $ | 20,947,239 | | | $ | 95,505,898 | | | $ | 2,952,502 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 3,273,670 | | | | 3,753,487 | | | | 4,190,047 | | | | 5,406,266 | | | | 983,350 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 16.54 | | | $ | 5.77 | | | $ | 5.00 | | | $ | 17.67 | | | $ | 3.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class D: Net Assets | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class L: Net Assets | | $ | 44,878,543 | | | $ | 16,204,504 | | | $ | 22,658,018 | | | $ | 47,583,442 | | | $ | 2,207,342 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 2,642,451 | | | | 2,719,405 | | | | 4,409,683 | | | | 2,565,800 | | | | 711,899 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 16.98 | | | $ | 5.96 | | | $ | 5.14 | | | $ | 18.55 | | | $ | 3.10 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class M: Net Assets | | $ | 116,554,871 | | | $ | 40,595,829 | | | $ | 57,825,883 | | | $ | 136,818,159 | | | $ | 5,423,318 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 7,068,857 | | | | 7,040,513 | | | | 11,541,477 | | | | 7,749,399 | | | | 1,813,350 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 16.49 | | | $ | 5.77 | | | $ | 5.01 | | | $ | 17.66 | | | $ | 2.99 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class X: Net Assets | | $ | 34,383,924 | | | $ | 9,836,437 | | | $ | 11,532,444 | | | $ | 25,137,238 | | | $ | 970,240 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 2,084,138 | | | | 1,702,449 | | | | 2,307,461 | | | | 1,424,443 | | | | 322,336 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 16.50 | | | $ | 5.78 | | | $ | 5.00 | | | $ | 17.65 | | | $ | 3.01 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class Z: Net Assets | | $ | — | | | $ | — | | | $ | — | | | $ | 14,981,169 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | — | | | | — | | | | — | | | | 799,500 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | — | | | $ | — | | | $ | — | | | $ | 18.74 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| * | On sales of $50,000 or more, the offering price of Class A shares is reduced for High Yield Bond Fund. For all other funds with the exception of Money Market Fund the offering price is reduced for $25,000 or more. |
See Notes to Financial Statements.
101
Statements of Assets and Liabilities
APRIL 30, 2006 (UNAUDITED)
| | | | | | | | | | | | | | | |
| | | STRATEGIC
PARTNERS
MANAGED
OTC FUND
| | | STRATEGIC
PARTNERS
CAPITAL
GROWTH FUND
| | | STRATEGIC
PARTNERS
CONCENTRATED
GROWTH FUND
| | | STRATEGIC
PARTNERS
CORE VALUE
FUND
|
| ASSETS | | | | | | | | | | | | | | | |
Investments at Value: Unaffilliated investments (A) including Securities on Loan (D) | | $ | 22,414,277 | | | $ | 617,072,030 | | | $ | 284,650,556 | | | $ | 46,918,629 |
Affiliated investments (B) | | | 1,501,648 | | | | 90,710,848 | | | | 29,252,394 | | | | — |
Cash (F) | | | 763,160 | | | | — | | | | — | | | | 119,534 |
Receivable for: | | | | | | | | | | | | | | | |
Securities Sold | | | — | | | | 12,076,316 | | | | 722,364 | | | | 80,775 |
Fund Shares Sold | | | 12,116 | | | | 845,235 | | | | 893,872 | | | | 43,175 |
Dividends and Interest | | | 5,405 | | | | 562,498 | | | | 70,191 | | | | 79,860 |
Receivable from Investment Manager | | | 15,622 | | | | — | | | | — | | | | — |
Prepaid Expenses | | | 8,776 | | | | 47,179 | | | | 13,551 | | | | 33,096 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
Total Assets | | | 24,721,004 | | | | 721,314,106 | | | | 315,602,928 | | | | 47,275,069 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| LIABILITIES | | | | | | | | | | | | | | | |
Payable to Broker for Collateral for Securities on Loan | | | — | | | | 86,613,296 | | | | 28,597,014 | | | | — |
Payable to Investment Manager | | | — | | | | 691,594 | | | | 367,497 | | | | 17,197 |
Payable for: | | | | | | | | | | | | | | | |
Securities Purchased | | | — | | | | 8,728,650 | | | | 799,220 | | | | — |
Fund Shares Redeemed | | | 91,700 | | | | 2,535,885 | | | | 1,691,860 | | | | 107,378 |
Futures Variation Margin | | | 79,200 | | | | — | | | | — | | | | — |
Transfer Agents’ Fees (E) | | | 75,787 | | | | 982,735 | | | | 918,548 | | | | 71,401 |
Distribution Fees | | | 17,489 | | | | 452,315 | | | | 204,094 | | | | 32,466 |
Accrued Expenses | | | 37,755 | | | | 228,539 | | | | 129,209 | | | | 41,824 |
Payable to Custodian | | | — | | | | 431,626 | | | | 94,048 | | | | — |
Deferred Directors’ Fees | | | 889 | | | | 27,468 | | | | 57,971 | | | | 661 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
Total Liabilities | | | 302,820 | | | | 100,692,108 | | | | 32,859,461 | | | | 270,927 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| Net Assets | | $ | 24,418,184 | | | $ | 620,621,998 | | | $ | 282,743,467 | | | $ | 47,004,142 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
Net assets were comprised of: | | | | | | | | | | | | | | | |
Common Stock, at $.001 Par Value | | $ | 8,531 | | | $ | 38,707 | | | $ | 24,497 | | | $ | 3,441 |
Paid-In-Capital in Excess of Par | | | 56,932,899 | | | | 556,130,375 | | | | 1,211,124,746 | | | | 33,884,427 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| | | | 56,941,430 | | | | 556,169,082 | | | | 1,211,149,243 | | | | 33,887,868 |
Undistributed net investment income (loss) | | | (192,691 | ) | | | (3,685,865 | ) | | | (1,777,965 | ) | | | 51,110 |
Accumulated net realized gain (loss) on investments and foreign currency transactions | | | (40,358,042 | ) | | | (110,255,429 | ) | | | (980,736,782 | ) | | | 2,848,774 |
Net unrealized appreciation on investments and foreign currency transactions | | | 8,027,487 | | | | 178,394,210 | | | | 54,108,971 | | | | 10,216,390 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| Net Assets, April 30, 2006 | | $ | 24,418,184 | | | $ | 620,621,998 | | | $ | 282,743,467 | | | $ | 47,004,142 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
(A) Unaffiliated Investments at Cost | | $ | 14,563,740 | | | $ | 438,677,820 | | | $ | 230,541,585 | | | $ | 36,702,239 |
| | |
|
|
| |
|
|
| |
|
|
| �� |
|
|
(B) Affiliated Investments at Cost | | $ | 1,501,648 | | | $ | 90,710,848 | | | $ | 29,252,394 | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
(C) Foreign Currency at Cost | | $ | — | | | $ | — | | | $ | — | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
(D) Securities on Loan at Value | | $ | — | | | $ | 83,385,297 | | | $ | 27,701,865 | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
(E) Affiliated Transfer Agent Fees | | $ | 39,500 | | | $ | 591,000 | | | $ | 580,300 | | | $ | 44,500 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
(F) Amount Segregated to Cover Open Futures Contracts | | $ | 615,000 | | | $ | — | | | $ | — | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
See Notes to Financial Statements.
102
| | | | | | | | | | | | | | | | |
| | | STRATEGIC
PARTNERS
MANAGED
OTC FUND
| | | STRATEGIC
PARTNERS
CAPITAL
GROWTH
FUND
| | | STRATEGIC
PARTNERS
CONCENTRATED
GROWTH FUND
| | | STRATEGIC
PARTNERS
CORE
VALUE
FUND
| |
NET ASSET VALUE: | | | | | | | | | | | | | | | | |
Class A: Net Assets | | $ | 2,141,549 | | | $ | 39,586,565 | | | $ | 19,307,274 | | | $ | 4,697,870 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 730,025 | | | | 2,380,292 | | | | 1,476,964 | | | | 343,003 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 2.93 | | | $ | 16.63 | | | $ | 13.07 | | | $ | 13.70 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Maximum Sales Charge | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Offering Price Per Share* | | $ | 3.10 | | | $ | 17.60 | | | $ | 13.83 | | | $ | 14.50 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class B: Net Assets | | $ | 749,943 | | | $ | 10,071,104 | | | $ | 4,714,456 | | | $ | 1,177,719 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 264,224 | | | | 632,610 | | | | 422,598 | | | | 86,258 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 2.84 | | | $ | 15.92 | | | $ | 11.16 | | | $ | 13.65 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class C: Net Assets | | $ | 6,851,372 | | | $ | 142,376,943 | | | $ | 41,309,384 | | | $ | 9,323,714 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 2,412,918 | | | | 8,963,195 | | | | 3,711,883 | | | | 682,727 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 2.84 | | | $ | 15.88 | | | $ | 11.13 | | | $ | 13.66 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class D: Net Assets | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class L: Net Assets | | $ | 4,170,917 | | | $ | 98,774,851 | | | | 46,520,166 | | | $ | 6,979,382 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 1,434,382 | | | | 5,980,724 | | | | 3,578,696 | | | | 510,242 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 2.91 | | | $ | 16.52 | | | $ | 13.00 | | | $ | 13.68 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class M: Net Assets | | $ | 9,520,363 | | | $ | 279,403,236 | | | $ | 143,903,832 | | | $ | 20,596,405 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 3,343,444 | | | | 17,573,742 | | | | 12,892,588 | | | | 1,508,916 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value and Redemption Price Per Share | | $ | 2.85 | | | $ | 15.90 | | | $ | 11.16 | | | $ | 13.65 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class X: Net Assets | | $ | 984,040 | | | $ | 50,409,299 | | | $ | 26,988,355 | | | $ | 4,229,052 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | 345,621 | | | | 3,176,181 | | | | 2,414,584 | | | | 309,622 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 2.85 | | | $ | 15.87 | | | $ | 11.18 | | | $ | 13.66 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Class Z: Net Assets | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Shares Outstanding | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| * | On sales of $50,000 or more, the offering price of Class A shares is reduced for High Yield Bond Fund. For all other funds with the exception of Money Market Fund the offering price is reduced for $25,000 or more. |
See Notes to Financial Statements.
103
Statements of Assets and Liabilities
APRIL 30, 2006 (UNAUDITED)
| | | | | | | | | | | | | | | | | | | | |
| | | STRATEGIC
PARTNERS
LARGE CAP
CORE FUND
| | | STRATEGIC
PARTNERS
EQUITY
INCOME
FUND
| | | STRATEGIC
PARTNERS
BALANCED
FUND
| | | STRATEGIC
PARTNERS
HIGH
YIELD
BOND FUND
| | | STRATEGIC
PARTNERS
MONEY
MARKET
FUND
| |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
Investments at Value: Unaffilliated investments (A) including Securities on Loan (D) | | $ | 137,329,722 | | | $ | 285,655,521 | | | $ | 104,784,665 | | | $ | 107,149,898 | | | $ | 92,034,813 | |
Affiliated investments (B) | | | 5,911,195 | | | | 21,598,843 | | | | 33,472 | | | | 17,386,040 | | | | 663,288 | |
Foreign Currency at Value (C) | | | — | | | | — | | | | — | | | | 210,351 | | | | — | |
Cash (F) | | | — | | | | 2 | | | | 37,317 | | | | 305,576 | | | | 186 | |
Premium for Swaps Purchased | | | — | | | | — | | | | — | | | | 6,738 | | | | — | |
Receivable for: | | | | | | | | | | | | | | | | | | | | |
Securities Sold | | | 191,341 | | | | 2,811,024 | | | | 2,006,756 | | | | 345,848 | | | | — | |
Dividends and Interest | | | 200,701 | | | | 499,505 | | | | 358,047 | | | | 2,174,523 | | | | 353,895 | |
Unrealized Appreciation on Swaps | | | — | | | | — | | | | — | | | | 15,907 | | | | — | |
Fund Shares Sold | | | 60,999 | | | | 1,302,471 | | | | 218,051 | | | | 191,024 | | | | 400,608 | |
Prepaid Expenses | | | 29,444 | | | | 2,020 | | | | 9,701 | | | | 15,152 | | | | 30,252 | |
Interest Receivable on Swap Agreements | | | — | | | | — | | | | — | | | | 50 | | | | — | |
Due From Broker - Variation Margin | | | — | | | | — | | | | 200 | | | | 7,184 | | | | — | |
Unrealized Appreciation on Forward Currency Contracts | | | — | | | | — | | | | — | | | | 452,617 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Assets | | | 143,723,402 | | | | 311,869,386 | | | | 107,448,209 | | | | 128,260,908 | | | | 93,483,042 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| LIABILITIES | | | | | | | | | | | | | | | | | | | | |
Payable to Broker for Collateral for Securities on Loan | | | 5,669,041 | | | | 19,002,305 | | | | — | | | | 15,813,269 | | | | — | |
Payable to Investment Manager | | | 25,363 | | | | 486,522 | | | | 53,595 | | | | 15,830 | | | | 105,214 | |
Payable for: | | | | | | | | | | | | | | | | | | | | |
Securities Purchased | | | — | | | | 1,995,439 | | | | 5,232,094 | | | | 5,064,131 | | | | — | |
Fund Shares Redeemed | | | 534,864 | | | | 2,038,717 | | | | 450,281 | | | | 737,455 | | | | 732,403 | |
Transfer Agents’ Fees (E) | | | 174,728 | | | | 461,357 | | | | 176,591 | | | | 266,370 | | | | 308,069 | |
Unrealized Depreciation on Forward Currency Contracts | | | — | | | | — | | | | — | | | | 947,792 | | | | — | |
Accrued Expenses | | | 228,901 | | | | 160,098 | | | | 147,072 | | | | 96,577 | | | | 134,014 | |
Distribution Fees | | | 96,726 | | | | 207,237 | | | | 71,518 | | | | 78,066 | | | | 65,723 | |
Payable to Custodian | | | 243,534 | | | | — | | | | — | | | | — | | | | — | |
Dividends Payable | | | — | | | | — | | | | — | | | | 172,654 | | | | 40,024 | |
Deferred Directors’ Fees | | | 5,743 | | | | 21,110 | | | | 5,358 | | | | 4,577 | | | | 28,109 | |
Withholding Tax Payable | | | — | | | | 1,362 | | | | — | | | | 823 | | | | — | |
Unrealized Depreciation on Swaps | | | — | | | | — | | | | — | | | | 724 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Liabilities | | | 6,978,900 | | | | 24,374,147 | | | | 6,136,509 | | | | 23,198,268 | | | | 1,413,556 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Assets | | $ | 136,744,502 | | | $ | 287,495,239 | | | $ | 101,311,700 | | | $ | 105,062,640 | | | $ | 92,069,486 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net assets were comprised of: | | | | | | | | | | | | | | | | | | | | |
Common Stock, at $.001 Par Value | | $ | 13,799 | | | $ | 19,158 | | | $ | 7,311 | | | $ | 14,602 | | | $ | 92,116 | |
Paid-In-Capital in Excess of Par | | | 136,336,622 | | | | 272,550,443 | | | | 94,207,802 | | | | 136,577,851 | | | | 92,020,144 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 136,350,421 | | | | 272,569,601 | | | | 94,215,113 | | | | 136,592,453 | | | | 92,112,260 | |
Undistributed net investment income (loss) | | | 72,058 | | | | 317,837 | | | | 262,883 | | | | 145,654 | | | | (26,953 | ) |
Accumulated net realized loss on investments and foreign currency transactions | | | (25,435,759 | ) | | | (35,804,585 | ) | | | (2,368,030 | ) | | | (32,893,791 | ) | | | (15,821 | ) |
Net unrealized appreciation on investments and foreign currency transactions | | | 25,757,782 | | | | 50,412,386 | | | | 9,201,734 | | | | 1,218,324 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Net Assets, April 30, 2006 | | $ | 136,744,502 | | | $ | 287,495,239 | | | $ | 101,311,700 | | | $ | 105,062,640 | | | $ | 92,069,486 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(A) Unaffiliated Investments at Cost | | $ | 111,571,940 | | | $ | 235,243,134 | | | $ | 95,588,618 | | | $ | 105,469,985 | | | $ | 92,034,813 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(B) Affiliated Investments at Cost | | $ | 5,911,195 | | | $ | 21,598,843 | | | $ | 33,472 | | | $ | 17,386,040 | | | $ | 663,288 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(C) Foreign Currency at Cost | | $ | — | | | $ | — | | | $ | — | | | $ | 207,915 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(D) Securities on Loan at Value | | $ | 5,476,900 | | | $ | 18,395,100 | | | $ | — | | | $ | 15,352,064 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(E) Affiliated Transfer Agent Fees | | $ | 130,000 | | | $ | 294,000 | | | $ | 88,954 | | | $ | 97,870 | | | $ | 110,000 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(F) Amount Segregated to Cover Open Futures Contracts | | $ | — | | | $ | — | | | $ | 16,000 | | | $ | 4,653,148 | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
104
| | | | | | | | | | | | | | | | | | | |
| | | STRATEGIC
PARTNERS
LARGE CAP CORE FUND
| | | STRATEGIC
PARTNERS
EQUITY
INCOME
FUND
| | | STRATEGIC
PARTNERS
BALANCED
FUND
| | | STRATEGIC
PARTNERS
HIGH
YIELD
BOND FUND
| | | STRATEGIC
PARTNERS
MONEY
MARKET
FUND
|
| NET ASSET VALUE: | | | | | | | | | | | | | | | | | | | |
Class A: Net Assets | | $ | 14,438,293 | | | $ | 19,950,718 | | | $ | 10,699,958 | | | $ | 7,861,453 | | | $ | 1,059,946 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 1,423,327 | | | | 1,296,096 | | | | 770,126 | | | | 1,090,775 | | | | 1,059,930 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value and Redemption Price Per Share | | $ | 10.14 | | | $ | 15.39 | | | $ | 13.89 | | | $ | 7.21 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Maximum Sales Charge | | | 5.50 | % | | | 5.50 | % | | | 5.50 | % | | | 4.50 | % | | | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Offering Price Per Share* | | $ | 10.73 | | | $ | 16.29 | | | $ | 14.70 | | | $ | 7.55 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class B: Net Assets | | $ | 3,346,596 | | | $ | 3,749,105 | | | $ | 2,512,035 | | | $ | 1,927,124 | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 339,630 | | | | 251,194 | | | | 181,293 | | | | 267,621 | | | | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 9.85 | | | $ | 14.93 | | | $ | 13.86 | | | $ | 7.20 | | | $ | — |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class C: Net Assets | | $ | 23,604,735 | | | $ | 51,182,683 | | | $ | 12,950,545 | | | $ | 14,704,418 | | | $ | 9,622,285 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 2,397,020 | | | | 3,435,001 | | | | 934,965 | | | | 2,043,453 | | | | 9,629,124 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 9.85 | | | $ | 14.90 | | | $ | 13.85 | | | $ | 7.20 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class D: Net Assets | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 11,131,295 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | — | | | | — | | | | — | | | | — | | | | 11,136,050 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class L: Net Assets | | $ | 18,400,292 | | | $ | 42,112,022 | | | $ | 14,090,835 | | | $ | 10,623,521 | | | $ | 14,695,278 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 1,821,320 | | | | 2,746,741 | | | | 1,015,159 | | | | 1,475,321 | | | | 14,705,380 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value and Redemption Price Per Share | | $ | 10.10 | | | $ | 15.33 | | | $ | 13.88 | | | $ | 7.20 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class M: Net Assets | | $ | 68,825,092 | | | $ | 133,075,087 | | | $ | 49,396,185 | | | $ | 60,464,244 | | | $ | 44,568,020 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 6,990,176 | | | | 8,916,516 | | | | 3,566,981 | | | | 8,405,599 | | | | 44,588,217 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value and Redemption Price Per Share | | $ | 9.85 | | | $ | 14.92 | | | $ | 13.85 | | | $ | 7.19 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Class X: Net Assets | | $ | 8,129,494 | | | $ | 37,425,624 | | | $ | 11,662,142 | | | $ | 9,481,880 | | | $ | 10,992,662 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Shares Outstanding | | | 827,791 | | | | 2,512,633 | | | | 842,735 | | | | 1,318,860 | | | | 10,996,968 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
Net Asset Value, Offering and Redemption Price Per Share | | $ | 9.82 | | | $ | 14.89 | | | $ | 13.84 | | | $ | 7.19 | | | $ | 1.00 |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| * | On sales of $50,000 or more, the offering price of Class A shares is reduced for High Yield Bond Fund. For all other funds with the exception of Money Market Fund the offering price is reduced for $25,000 or more. |
See Notes to Financial Statements.
105
Statement of Operations
SIX MONTHS ENDED APRIL 30, 2006 (UNAUDITED)
| | | | | | | | | | | | | | | | | | | | |
| |
| | | | | |
| | | STRATEGIC
PARTNERS
INTERNATIONAL
GROWTH FUND
| | | STRATEGIC
PARTNERS
SMALL CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS
MID-CAP
GROWTH
FUND
| | | STRATEGIC
PARTNERS
MID CAP
VALUE
FUND
| | | STRATEGIC
PARTNERS
TECHNOLOGY
FUND
| |
INVESTMENT INCOME | | | | | | | | | | | | | | | | | | | | |
Unaffiliated Dividend Income | | $ | 1,828,551 | | | $ | 140,154 | | | $ | 337,729 | | | $ | 3,362,151 | | | $ | 24,004 | |
Affiliated Dividend Income | | | 51,641 | | | | 43,765 | | | | 8,580 | | | | 122,126 | | | | 5,536 | |
Affiliated Income from Securities Loaned, Net | | | 1,490 | | | | 59,408 | | | | 18,242 | | | | 88,351 | | | | — | |
Interest | | | 6,982 | | | | — | | | | 2,986 | | | | 15,606 | | | | — | |
Foreign Taxes Withheld | | | (233,210 | ) | | | — | | | | — | | | | (10,361 | ) | | | (318 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Income | | | 1,655,454 | | | | 243,327 | | | | 367,537 | | | | 3,577,873 | | | | 29,222 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
EXPENSES | | | | | | | | | | | | | | | | | | | | |
Advisory fee | | | 1,322,927 | | | | 525,296 | | | | 599,024 | | | | 1,825,026 | | | | 76,038 | |
Distribution Fees — Class A | | | 24,817 | | | | 16,178 | | | | 15,194 | | | | 51,653 | | | | 3,260 | |
Distribution Fees — Class B | | | 17,165 | | | | 40,804 | | | | 11,630 | | | | 239,647 | | | | 1,772 | |
Distribution Fees — Class C | | | 258,286 | | | | 109,462 | | | | 109,526 | | | | 449,111 | | | | 15,781 | |
Distribution Fees — Class L | | | 108,387 | | | | 41,087 | | | | 59,997 | | | | 122,608 | | | | 5,838 | |
Distribution Fees — Class M | | | 562,843 | | | | 204,886 | | | | 301,986 | | | | 695,049 | | | | 28,560 | |
Distribution Fees — Class X | | | 168,593 | | | | 50,906 | | | | 61,671 | | | | 42,644 | | | | 5,209 | |
Transfer agent’s fees and expenses (A) | | | 754,000 | | | | 174,000 | | | | 397,000 | | | | 456,000 | | | | 84,000 | |
Custodian Fees and Expenses | | | 118,000 | | | | 37,000 | | | | 24,000 | | | | 36,000 | | | | 20,000 | |
Report to Sharerholders | | | 46,000 | | | | 15,000 | | | | 10,000 | | | | 15,000 | | | | 3,000 | |
Audit and Legal Fees | | | 18,000 | | | | 15,000 | | | | 20,000 | | | | 20,000 | | | | 13,000 | |
Insurance Fees | | | — | | | | 3,000 | | | | — | | | | 9,000 | | | | 1,000 | |
Interest Expense | | | 13,465 | | | | — | | | | 145 | | | | — | | | | — | |
Registration Fees | | | 25,000 | | | | 13,000 | | | | 28,000 | | | | 30,000 | | | | 24,000 | |
Directors’ fees | | | 8,000 | | | | 8,000 | | | | 6,000 | | | | 6,000 | | | | 6,000 | |
Miscellaneous | | | 21,911 | | | | 7,258 | | | | 11,981 | | | | 73,624 | | | | 8,691 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Expenses | | | 3,467,394 | | | | 1,260,877 | | | | 1,656,154 | | | | 4,071,362 | | | | 296,149 | |
Less: Advisory Fee Waivers and Expense Reimbursements | | | (200,046 | ) | | | (78,727 | ) | | | (159,128 | ) | | | — | | | | (129,243 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Expenses | | | 3,267,348 | | | | 1,182,150 | | | | 1,497,026 | | | | 4,071,362 | | | | 166,906 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Investment Income (Loss) | | | (1,611,894 | ) | | | (938,823 | ) | | | (1,129,489 | ) | | | (493,489 | ) | | | (137,684 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | | | | | | | | | | | | | | | | | | | | |
Net Realized Gain (Loss) on: | | | | | | | | | | | | | | | | | | | | |
Investments | | | 31,243,867 | | | | 4,503,895 | | | | 6,829,921 | | | | 26,573,248 | | | | 928,317 | |
Futures | | | — | | | | 32,896 | | | | — | | | | — | | | | — | |
Foreign Currencies | | | (150,394 | ) | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 31,093,473 | | | | 4,536,791 | | | | 6,829,921 | | | | 26,573,248 | | | | 928,317 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Change in Unrealized Appreciation (Depreciation) on: | | | | | | | | | | | | | | | | | | | | |
Investments | | | 27,496,872 | | | | 12,735,860 | | | | 8,956,550 | | | | 23,769,885 | | | | 972,072 | |
Swap Agreements | | | — | | | | (9,736 | ) | | | — | | | | — | | | | — | |
Foreign Currencies | | | 146,054 | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 27,642,926 | | | | 12,726,124 | | | | 8,956,550 | | | | 23,769,885 | | | | 972,072 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Gain on Investments | | | 58,736,399 | | | | 17,262,915 | | | | 15,786,471 | | | | 50,343,133 | | | | 1,900,389 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase In Net Assets Resulting From Operations | | $ | 57,124,505 | | | $ | 16,324,092 | | | $ | 14,656,982 | | | $ | 49,849,644 | | | $ | 1,762,705 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(A) Affiliated Transfer Agent’s Fees and Expenses | | $ | 340,000 | | | $ | 29,000 | | | $ | 226,045 | | | $ | 335,000 | | | $ | 36,000 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
106
| | | | | | | | | | | | | | | | |
| |
| | | | |
| | | STRATEGIC
PARTNERS
MANAGED
OTC FUND
| | | STRATEGIC
PARTNERS
CAPITAL
GROWTH
FUND
| | | STRATEGIC
PARTNERS
CONCENTRATED
GROWTH FUND
| | | STRATEGIC
PARTNERS
CORE
VALUE
FUND
| |
INVESTMENT INCOME | | | | | | | | | | | | | | | | |
Unaffiliated Dividend Income | | $ | 66,934 | | | $ | 2,783,073 | | | $ | 1,381,490 | | | $ | 594,757 | |
Affiliated Dividend Income | | | 18,740 | | | | 99,092 | | | | 11,153 | | | | 7,404 | |
Affiliated Income from Securities Loaned, Net | | | — | | | | 191,881 | | | | 18,186 | | | | — | |
Interest | | | 53 | | | | — | | | | 4,875 | | | | — | |
Foreign Taxes Withheld | | | (196 | ) | | | (1,757 | ) | | | — | | | | (1,593 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Income | | | 85,531 | | | | 3,072,289 | | | | 1,415,704 | | | | 600,568 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
EXPENSES | | | | | | | | | | | | | | | | |
Advisory fee | | | 112,147 | | | | 2,840,996 | | | | 1,323,446 | | | | 198,116 | |
Distribution Fees — Class A | | | 2,609 | | | | 45,052 | | | | 21,082 | | | | 5,276 | |
Distribution Fees — Class B | | | 3,713 | | | | 45,474 | | | | 21,021 | | | | 5,302 | |
Distribution Fees — Class C | | | 37,731 | | | | 734,001 | | | | 216,312 | | | | 48,360 | |
Distribution Fees — Class L | | | 11,816 | | | | 258,518 | | | | 121,377 | | | | 17,537 | |
Distribution Fees — Class M | | | 51,101 | | | | 1,454,050 | | | | 762,139 | | | | 102,595 | |
Distribution Fees — Class X | | | 5,324 | | | | 265,727 | | | | 143,944 | | | | 20,645 | |
Transfer agent’s fees and expenses (A) | | | 57,000 | | | | 817,000 | | | | 762,000 | | | | 83,000 | |
Custodian Fees and Expenses | | | 26,000 | | | | 118,000 | | | | 41,000 | | | | 25,000 | |
Audit and Legal Fees | | | 15,000 | | | | 21,000 | | | | 16,000 | | | | 12,000 | |
Insurance Fees | | | 400 | | | | — | | | | 5,000 | | | | 1,000 | |
Interest Expense | | | — | | | | 192 | | | | 102 | | | | — | |
Registration Fees | | | 24,000 | | | | 23,000 | | | | 26,000 | | | | 32,000 | |
Report to Shareholders | | | 7,000 | | | | 62,000 | | | | 99,000 | | | | 7,000 | |
Directors’ fees | | | 6,000 | | | | 10,000 | | | | 6,000 | | | | 6,000 | |
Miscellaneous | | | 6,725 | | | | 35,676 | | | | 19,283 | | | | 4,389 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Expenses | | | 366,566 | | | | 6,730,686 | | | | 3,583,706 | | | | 568,220 | |
Less: Advisory Fee Waivers and Expense Reimbursements | | | (89,233 | ) | | | — | | | | (448,008 | ) | | | (88,182 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Expenses | | | 277,333 | | | | 6,730,686 | | | | 3,135,698 | | | | 480,038 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Investment Income (Loss) | | | (191,802 | ) | | | (3,658,397 | ) | | | (1,719,994 | ) | | | 120,530 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | | | | | | | | | | | | | | | | |
Net Realized Gain on: | | | | | | | | | | | | | | | | |
Investments | | | 863,430 | | | | 72,253,171 | | | | 13,460,068 | | | | 2,850,801 | |
Futures | | | 203,722 | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 1,067,152 | | | | 72,253,171 | | | | 13,460,068 | | | | 2,850,801 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Change in Unrealized Appreciation (Depreciation) on: | | | | | | | | | | | | | | | | |
Investments | | | 1,005,947 | | | | (15,845,663 | ) | | | 19,331,488 | | | | 2,655,629 | |
Futures | | | 253,170 | | | | — | | | | — | | | | — | |
Foreign Currencies | | | — | | | | (3,070 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 1,259,117 | | | | (15,848,733 | ) | | | 19,331,488 | | | | 2,655,629 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Gain on Investments | | | 2,326,269 | | | | 56,404,438 | | | | 32,791,556 | | | | 5,506,430 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase In Net Assets Resulting From Operations | | $ | 2,134,467 | | | $ | 52,746,041 | | | $ | 31,071,562 | | | $ | 5,626,960 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(A) Affiliated Transfer Agent’s Fees and Expenses | | $ | 39,000 | | | $ | 591,000 | | | $ | 578,000 | | | $ | 45,000 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
107
Statement of Operations
SIX MONTHS ENDED APRIL 30, 2006 (UNAUDITED)
| | | | | | | | | | | | | | | | | | | | |
| |
| | | | | |
| | | STRATEGIC
PARTNERS
LARGE CAP
CORE
FUND
| | | STRATEGIC
PARTNERS
EQUITY
INCOME
FUND
| | | STRATEGIC
PARTNERS
BALANCED
FUND
| | | STRATEGIC
PARTNERS
HIGH YIELD
BOND FUND
| | | STRATEGIC
PARTNERS
MONEY
MARKET
FUND
| |
INVESTMENT INCOME | | | | | | | | | | | | | | | | | | | | |
Unaffiliated Dividend Income | | $ | 1,392,461 | | | $ | 3,328,696 | | | $ | 587,035 | | | $ | — | | | $ | — | |
Affiliated Dividend Income | | | 12,937 | | | | 38,643 | | | | 1,223 | | | | 51,061 | | | | 1,964 | |
Affiliated Income from Securities Loaned, Net | | | 13,491 | | | | 15,260 | | | | — | | | | 40,445 | | | | — | |
Interest | | | — | | | | 173 | | | | 1,002,611 | | | | 4,733,664 | | | | 2,302,156 | |
Foreign Taxes Withheld | | | (1,149 | ) | | | (19,239 | ) | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Income | | | 1,417,740 | | | | 3,363,533 | | | | 1,590,869 | | | | 4,825,170 | | | | 2,304,120 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
EXPENSES | | | | | | | | | | | | | | | | | | | | |
Advisory fee | | | 573,974 | | | | 1,257,614 | | | | 395,771 | | | | 388,899 | | | | 258,397 | |
Distribution Fees — Class A | | | 16,957 | | | | 20,879 | | | | 12,418 | | | | 10,520 | | | | 191 | |
Distribution Fees — Class B | | | 16,194 | | | | 16,812 | | | | 11,704 | | | | 8,975 | | | | — | |
Distribution Fees — Class C | | | 127,260 | | | | 265,378 | | | | 67,266 | | | | 75,058 | | | | 53,617 | |
Distribution Fees — Class D | | | — | | | | — | | | | — | | | | — | | | | 29,767 | |
Distribution Fees — Class L | | | 49,227 | | | | 111,285 | | | | 36,819 | | | | 28,629 | | | | 45,691 | |
Distribution Fees — Class M | | | 364,849 | | | | 692,564 | | | | 262,757 | | | | 321,272 | | | | 252,615 | |
Distribution Fees — Class X | | | 42,883 | | | | 198,706 | | | | 62,656 | | | | 50,925 | | | | 58,101 | |
Transfer agent’s fees and expenses (A) | | | 248,000 | | | | 401,000 | | | | 164,000 | | | | 198,000 | | | | 326,000 | |
Custodian Fees and Expenses | | | 20,000 | | | | 28,000 | | | | 68,000 | | | | 45,000 | | | | 31,000 | |
Audit and Legal Fees | | | 16,000 | | | | 21,000 | | | | 23,000 | | | | 23,000 | | | | 20,000 | |
Reports to Shareholders | | | 25,000 | | | | 40,000 | | | | 7,000 | | | | 23,000 | | | | 32,000 | |
Insurance Fees | | | 2,000 | | | | 9,000 | | | | 2,000 | | | | 1,000 | | | | 2,000 | |
Interest Expense | | | 1,266 | | | | 473 | | | | — | | | | — | | | | — | |
Registration Fees | | | 22,000 | | | | 28,000 | | | | 26,000 | | | | 30,000 | | | | 27,000 | |
Directors’ fees | | | 7,000 | | | | 8,000 | | | | 6,000 | | | | 6,000 | | | | 6,000 | |
Miscellaneous | | | 23,941 | | | | 23,111 | | | | 9,814 | | | | 11,156 | | | | 13,094 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Expenses | | | 1,556,551 | | | | 3,121,822 | | | | 1,155,205 | | | | 1,221,434 | | | | 1,155,473 | |
Less: Advisory Fee Waivers and Expense Reimbursements | | | (217,004 | ) | | | (89,536 | ) | | | (87,978 | ) | | | (163,441 | ) | | | (194,492 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Expenses | | | 1,339,547 | | | | 3,032,286 | | | | 1,067,227 | | | | 1,057,993 | | | | 960,981 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Investment Income | | | 78,193 | | | | 331,247 | | | | 523,642 | | | | 3,767,177 | | | | 1,343,139 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | | | | | | | | | | | | | | | | | | | | |
Net Realized Gain (Loss) on: | | | | | | | | | | | | | | | | | | | | |
Investments | | | 8,237,379 | | | | 10,848,328 | | | | 3,404,284 | | | | 762,673 | | | | (358 | ) |
Futures | | | — | | | | 24,736 | | | | 18,651 | | | | 10,275 | | | | — | |
Swap Agreements | | | — | | | | — | | | | — | | | | (8,588 | ) | | | — | |
Foreign Currencies | | | (12,582 | ) | | | — | | | | 3,289 | | | | 420,622 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 8,224,797 | | | | 10,873,064 | | | | 3,426,224 | | | | 1,184,982 | | | | (358 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Change in Unrealized Appreciation (Depreciation) on: | | | | | | | | | | | | | | | | | | | | |
Investments | | | 1,561,532 | | | | 16,865,979 | | | | 1,981,616 | | | | 1,759,319 | | | | — | |
Futures | | | — | | | | — | | | | 14,747 | | | | 11,650 | | | | — | |
Swap Agreements | | | — | | | | — | | | | — | | | | 15,183 | | | | — | |
Foreign Currencies | | | 226 | | | | — | | | | — | | | | (963,660 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | 1,561,758 | | | | 16,865,979 | | | | 1,996,363 | | | | 822,492 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Gain (Loss) on Investments | | | 9,786,555 | | | | 27,739,043 | | | | 5,422,587 | | | | 2,007,474 | | | | (358 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase In Net Assets Resulting From Operations | | $ | 9,864,748 | | | $ | 28,070,290 | | | $ | 5,946,229 | | | $ | 5,774,651 | | | $ | 1,342,781 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(A) Affiliated Transfer Agent’s Fees and Expenses | | $ | 130,000 | | | $ | 269,000 | | | $ | 106,000 | | | $ | 98,000 | | | $ | 108,000 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
108
This Page Intentionally Left Blank
109
Statements of Changes in Net Assets
(UNAUDITED)
| | | | | | | | | | | | | | | | |
| | | STRATEGIC PARTNERS INTERNATIONAL GROWTH FUND
| | | STRATEGIC PARTNERS SMALL CAP GROWTH FUND
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30,
2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | |
Net Investment Loss | | $ | (1,611,894 | ) | | $ | (2,238,440 | ) | | $ | (938,823 | ) | | $ | (753,670 | ) |
Net Realized Gain on Investments and Foreign Currencies | | | 31,093,473 | | | | 47,463,257 | | | | 4,536,791 | | | | 3,115,784 | |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 27,642,926 | | | | (4,714,443 | ) | | | 12,726,124 | | | | 326,138 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase in Net Assets Resulting from Operations | | | 57,124,505 | | | | 40,510,374 | | | | 16,324,092 | | | | 2,688,252 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | (159,915 | ) | | | — | | | | — | |
Class B | | | — | | | | (6,278 | ) | | | — | | | | — | |
Class C | | | — | | | | (248,656 | ) | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | (588,340 | ) | | | — | | | | — | |
Class M | | | — | | | | (538,340 | ) | | | — | | | | — | |
Class X | | | — | | | | (156,884 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | — | | | | (1,698,413 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | (238,862 | ) | | | — | |
Class B | | | — | | | | — | | | | (164,047 | ) | | | — | |
Class C | | | — | | | | — | | | | (452,207 | ) | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | (328,561 | ) | | | — | |
Class M | | | — | | | | — | | | | (843,520 | ) | | | — | |
Class X | | | — | | | | — | | | | (207,016 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | (2,234,213 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 17,118,649 | | | | 27,324,745 | | | | 4,419,431 | | | | 80,392,640 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | — | | | | 1,567,606 | | | | 1,907,544 | | | | — | |
Cost of Shares Redeemed | | | (41,184,301 | ) | | | (101,317,370 | ) | | | (18,888,499 | ) | | | (18,197,839 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Increase (Decrease) in Net Assets from Fund Share Transactions | | | (24,065,652 | ) | | | (72,425,019 | ) | | | (12,561,524 | ) | | | 62,194,801 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | 33,058,853 | | | | (33,613,058 | ) | | | 1,528,355 | | | | 64,883,053 | |
NET ASSETS: | | | | | | | | | | | | | | | | |
Beginning of Period | | | 245,550,854 | | | | 279,163,912 | | | | 109,473,874 | | | | 44,590,821 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
End of Period(a) | | | 278,609,707 | | | $ | 245,550,854 | | | $ | 111,002,229 | | | $ | 109,473,874 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(a) Includes Undistributed Net Investment Income of: | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | | | $ | — | | | $ | 75,279,784 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
110
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | STRATEGIC PARTNERS MID-CAP GROWTH FUND
| | | STRATEGIC PARTNERS MID CAP VALUE FUND
| | | STRATEGIC PARTNERS TECHNOLOGY FUND
| |
| | | Six Months Ended April 30,
2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30,
2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30,
2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Investment Loss | | $ | (1,129,489 | ) | | $ | (2,712,154 | ) | | $ | (493,489 | ) | | $ | (2,838,928 | ) | | $ | (137,684 | ) | | $ | (238,326 | ) |
Net Realized Gain on Investments and Foreign Currencies | | | 6,829,921 | | | | 30,683,083 | | | | 26,573,248 | | | | 68,941,489 | | | | 928,317 | | | | 1,240,657 | |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 8,956,550 | | | | (16,087,988 | ) | | | 23,769,885 | | | | (17,963,024 | ) | | | 972,072 | | | | (347,908 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase in Net Assets Resulting from Operations | | | 14,656,982 | | | | 11,882,941 | | | | 49,849,644 | | | | 48,139,537 | | | | 1,762,705 | | | | 654,423 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class B | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class C | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class M | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class X | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | (4,078,457 | ) | | | (1,706,973 | ) | | | — | | | | — | |
Class B | | | — | | | | — | | | | (711,922 | ) | | | (152,535 | ) | | | — | | | | — | |
Class C | | | — | | | | — | | | | (11,460,673 | ) | | | (7,000,236 | ) | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | (9,783,292 | ) | | | (7,910,219 | ) | | | — | | | | — | |
Class M | | | — | | | | — | | | | (28,302,102 | ) | | | (17,653,222 | ) | | | — | | | | — | |
Class X | | | — | | | | — | | | | (5,113,048 | ) | | | (3,193,460 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | (59,449,494 | ) | | | (37,616,645 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 5,216,001 | | | | 16,221,389 | | | | 151,853,811 | | | | 43,259,968 | | | | 1,147,671 | | | | 3,353,896 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | — | | | | — | | | | 49,920,779 | | | | 34,307,054 | | | | — | | | | — | |
Cost of Shares Redeemed | | | (23,061,062 | ) | | | (62,055,106 | ) | | | (60,867,393 | ) | | | (111,069,994 | ) | | | (2,847,621 | ) | | | (10,414,208 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Increase (Decrease) in Net Assets from Fund Share Transactions | | | (17,845,061 | ) | | | (45,833,717 | ) | | | 140,907,197 | | | | (33,502,972 | ) | | | (1,699,950 | ) | | | (7,060,312 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (3,188,079 | ) | | | (33,950,776 | ) | | | 131,307,347 | | | | (22,980,080 | ) | | | 62,755 | | | | (6,405,889 | ) |
NET ASSETS: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of Period | | | 131,851,665 | | | | 165,802,441 | | | | 291,936,896 | | | | 314,916,976 | | | | 14,719,324 | | | | 21,125,213 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
End of Period(a) | | $ | 128,663,586 | | | $ | 131,851,665 | | | $ | 423,244,243 | | | $ | 291,936,896 | | | $ | 14,782,079 | | | $ | 14,719,324 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(a) Includes Undistributed Net Investment Income of: | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | | | $ | 129,015,263 | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
111
Statements of Changes in Net Assets
(UNAUDITED)
| | | | | | | | | | | | | | | | |
| | | STRATEGIC PARTNERS MANAGED OTC FUND
| | | STRATEGIC PARTNERS CAPITAL GROWTH FUND
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | |
Net Investment Income (Loss) | | $ | (191,802 | ) | | $ | (177,533 | ) | | $ | (3,658,397 | ) | | $ | (8,688,303 | ) |
Net Realized Gain on Investments and Foreign Currencies | | | 1,067,152 | | | | 2,255,770 | | | | 72,253,171 | | | | 81,583,024 | |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 1,259,117 | | | | (435,271 | ) | | | (15,848,733 | ) | | | 14,543,348 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase in Net Assets Resulting from Operations | | | 2,134,467 | | | | 1,642,966 | | | | 52,746,041 | | | | 87,438,069 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | — | | | | — | |
Class B | | | — | | | | — | | | | — | | | | — | |
Class C | | | — | | | | — | | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | — | | | | — | |
Class M | | | — | | | | — | | | | — | | | | — | |
Class X | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | — | | | | — | |
Class B | | | — | | | | — | | | | — | | | | — | |
Class C | | | — | | | | — | | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | — | | | | — | |
Class M | | | — | | | | — | | | | — | | | | — | |
Class X | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 2,155,502 | | | | 4,553,733 | | | | 21,693,475 | | | | 52,828,650 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | — | | | | — | | | | — | | | | — | |
Cost of Shares Redeemed | | | (5,759,347 | ) | | | (16,834,008 | ) | | | (87,917,274 | ) | | | (222,081,521 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Increase (Decrease) in Net Assets from Fund Share Transactions | | | (3,603,845 | ) | | | (12,280,275 | ) | | | (66,223,799 | ) | | | (169,252,871 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (1,469,378 | ) | | | (10,637,309 | ) | | | (13,477,758 | ) | | | (81,814,802 | ) |
NET ASSETS: | | | | | | | | | | | | | | | | |
Beginning of Period | | | 25,887,562 | | | | 36,524,871 | | | | 634,099,756 | | | | 715,914,558 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
End of Period(a) | | $ | 24,418,184 | | | $ | 25,887,562 | | | $ | 620,621,998 | | | $ | 634,099,756 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(a) Includes Undistributed Net Investment Income of: | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
112
| | | | | | | | | | | | | | | | |
| | | STRATEGIC PARTNERS CONCENTRATED GROWTH FUND
| | | STRATEGIC PARTNERS CORE VALUE FUND
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | |
Net Investment Income (Loss) | | $ | (1,719,994 | ) | | $ | (1,890,357 | ) | | $ | 120,530 | | | $ | 160,103 | |
Net Realized Gain on Investments and Foreign Currencies | | | 13,460,068 | | | | 20,098,023 | | | | 2,850,801 | | | | 2,714,388 | |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 19,331,488 | | | | (2,730,609 | ) | | | 2,655,629 | | | | 1,139,409 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase in Net Assets Resulting from Operations | | | 31,071,562 | | | | 15,477,057 | | | | 5,626,960 | | | | 4,013,900 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | (35,997 | ) | | | (27,263 | ) |
Class B | | | — | | | | — | | | | (2,001 | ) | | | (854 | ) |
Class C | | | — | | | | — | | | | (19,813 | ) | | | (9,707 | ) |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | (49,312 | ) | | | (70,548 | ) |
Class M | | | — | | | | — | | | | (40,826 | ) | | | (32,335 | ) |
Class X | | | — | | | | — | | | | (8,238 | ) | | | (3,884 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | — | | | | — | | | | (156,187 | ) | | | (144,591 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | (218,393 | ) | | | (56,822 | ) |
Class B | | | — | | | | — | | | | (58,984 | ) | | | (6,723 | ) |
Class C | | | — | | | | — | | | | (583,999 | ) | | | (263,393 | ) |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | (407,913 | ) | | | (194,959 | ) |
Class M | | | — | | | | — | | | | (1,203,351 | ) | | | (497,987 | ) |
Class X | | | — | | | | — | | | | (242,812 | ) | | | (105,395 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | (2,715,452 | ) | | | (1,125,279 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 6,577,980 | | | | 14,305,326 | | | | 3,055,553 | | | | 14,483,213 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | — | | | | — | | | | 2,415,733 | | | | 1,209,484 | |
Cost of Shares Redeemed | | | (50,624,003 | ) | | | (133,947,015 | ) | | | (7,993,049 | ) | | | (18,500,181 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Increase (Decrease) in Net Assets from Fund Share Transactions | | | (44,046,023 | ) | | | (119,641,689 | ) | | | (2,521,763 | ) | | | (2,807,484 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (12,974,461 | ) | | | (104,164,632 | ) | | | 233,558 | | | | (63,454 | ) |
NET ASSETS: | | | | | | | | | | | | | | | | |
Beginning of Period | | | 295,717,928 | | | | 399,882,560 | | | | 46,770,584 | | | | 46,834,038 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
End of Period(a) | | $ | 282,743,467 | | | $ | 295,717,928 | | | $ | 47,004,142 | | | $ | 46,770,584 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(a) Includes Undistributed Net Investment Income of: | | $ | — | | | $ | — | | | $ | 51,110 | | | $ | 86,767 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | | | | | | | | | | | | | |
| | |
| | | STRATEGIC PARTNERS LARGE CAP CORE FUND
| | | STRATEGIC PARTNERS EQUITY INCOME FUND
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | |
Net Investment Income (Loss) | | $ | 78,193 | | | $ | 380,918 | | | $ | 331,247 | | | $ | 565,208 | |
Net Realized Gain on Investments and Foreign Currencies | | | 8,224,797 | | | | 5,808,397 | | | | 10,873,064 | | | | 31,382,759 | |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 1,561,758 | | | | 2,995,424 | | | | 16,865,979 | | | | (10,895,123 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase in Net Assets Resulting from Operations | | | 9,864,748 | | | | 9,184,739 | | | | 28,070,290 | | | | 21,052,844 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | |
Class A | | | (108,420 | ) | | | — | | | | (20,184 | ) | | | (96,725 | ) |
Class B | | | (2,895 | ) | | | — | | | | — | | | | (1,065 | ) |
Class C | | | (23,935 | ) | | | — | | | | — | | | | (36,016 | ) |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | (122,594 | ) | | | — | | | | (9,947 | ) | | | (276,305 | ) |
Class M | | | (67,693 | ) | | | — | | | | — | | | | (93,218 | ) |
Class X | | | (7,977 | ) | | | — | | | | — | | | | (24,048 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | (333,514 | ) | | | — | | | | (30,131 | ) | | | (527,377 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | — | | | | — | |
Class B | | | — | | | | — | | | | — | | | | — | |
Class C | | | — | | | | — | | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | — | | | | — | |
Class M | | | — | | | | — | | | | — | | | | — | |
Class X | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 6,089,295 | | | | 50,979,313 | | | | 7,049,641 | | | | 128,360,865 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | 235,701 | | | | — | | | | 17,667 | | | | 510,840 | |
Cost of Shares Redeemed | | | (25,584,952 | ) | | | (62,627,777 | ) | | | (50,415,414 | ) | | | (79,614,309 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Increase (Decrease) in Net Assets from Fund Share Transactions | | | (19,259,956 | ) | | | (11,648,464 | ) | | | (43,348,106 | ) | | | 49,257,396 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (9,728,722 | ) | | | (2,463,725 | ) | | | (15,307,947 | ) | | | 69,782,863 | |
NET ASSETS: | | | | | | | | | | | | | | | | |
Beginning of Period | | | 146,473,224 | | | | 148,936,949 | | | | 302,803,186 | | | | 233,020,323 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
End of Period(a) | | $ | 136,744,502 | | | $ | 146,473,224 | | | $ | 287,495,239 | | | $ | 302,803,186 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(a) Includes Undistributed Net Investment Income of: | | $ | 72,058 | | | $ | 327,379 | | | $ | 317,837 | | | $ | 16,721 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | 32,727,939 | | | $ | — | | | $ | 112,897,042 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
|
See Notes to Financial Statements.
113
Statements of Changes in Net Assets
(UNAUDITED)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | STRATEGIC PARTNERS BALANCED FUND
| | | STRATEGIC PARTNERS HIGH YIELD BOND FUND
| | | STRATEGIC PARTNERS MONEY MARKET FUND
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Investment Income (Loss) | | $ | 523,642 | | | $ | 888,682 | | | $ | 3,767,177 | | | $ | 9,893,397 | | | $ | 1,343,139 | | | $ | 1,392,758 | |
Net Realized Gain (Loss) on Investments and Foreign Currencies | | | 3,426,224 | | | | 9,721,432 | | | | 1,184,982 | | | | 3,214,325 | | | | (358 | ) | | | (15,463 | ) |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | 1,996,363 | | | | (3,422,601 | ) | | | 822,492 | | | | (10,845,136 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations | | | 5,946,229 | | | | 7,187,513 | | | | 5,774,651 | | | | 2,262,586 | | | | 1,342,781 | | | | 1,377,295 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | | (71,625 | ) | | | (88,000 | ) | | | (318,841 | ) | | | (644,460 | ) | | | (5,350 | ) | | | (154 | ) |
Class B | | | (8,723 | ) | | | (9,094 | ) | | | (61,213 | ) | | | (78,721 | ) | | | — | | | | — | |
Class C | | | (53,189 | ) | | | (110,844 | ) | | | (513,213 | ) | | | (1,377,592 | ) | | | (131,230 | ) | | | (129,807 | ) |
Class D | | | — | | | | — | | | | — | | | | — | | | | (175,569 | ) | | | (206,044 | ) |
Class L | | | (96,454 | ) | | | (247,236 | ) | | | (420,623 | ) | | | (1,246,113 | ) | | | (269,412 | ) | | | (387,698 | ) |
Class M | | | (211,229 | ) | | | (422,177 | ) | | | (2,205,378 | ) | | | (5,924,059 | ) | | | (618,936 | ) | | | (571,379 | ) |
Class X | | | (49,731 | ) | | | (97,824 | ) | | | (346,748 | ) | | | (856,681 | ) | | | (142,642 | ) | | | (126,220 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Dividends | | | (490,951 | ) | | | (975,175 | ) | | | (3,866,016 | ) | | | (10,127,626 | ) | | | (1,343,139 | ) | | | (1,421,302 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Distributions from Net Realized Gains: | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class B | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class C | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class D | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class L | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class M | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class X | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | | | | | | | | | | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 4,761,114 | | | | 14,631,391 | | | | 14,269,599 | | | | 35,599,904 | | | | 16,856,107 | | | | 74,781,556 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | 406,557 | | | | 875,416 | | | | 2,533,104 | | | | 6,591,573 | | | | 1,078,529 | | | | 1,188,165 | |
Cost of Shares Redeemed | | | (17,665,204 | ) | | | (44,015,387 | ) | | | (26,891,792 | ) | | | (99,250,414 | ) | | | (47,080,147 | ) | | | (134,342,101 | ) |
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|
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|
|
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|
|
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|
|
| |
|
|
| |
|
|
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Increase (Decrease) in Net Assets from Fund Share Transactions | | | (12,497,533 | ) | | | (28,508,580 | ) | | | (10,089,089 | ) | | | (57,058,937 | ) | | | (29,145,511 | ) | | | (58,372,380 | ) |
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|
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|
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|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (7,042,255 | ) | | | (22,296,242 | ) | | | (8,180,454 | ) | | | (64,923,977 | ) | | | (29,145,869 | ) | | | (58,416,387 | ) |
NET ASSETS: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of Period | | | 108,353,955 | | | | 130,650,197 | | | | 113,243,094 | | | | 178,167,071 | | | | 121,215,355 | | | | 179,631,742 | |
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End of Period(a) | | $ | 101,311,700 | | | $ | 108,353,955 | | | $ | 105,062,640 | | | $ | 113,243,094 | | | $ | 92,069,486 | | | $ | 121,215,355 | |
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(a) Includes Undistributed Net Investment Income of: | | $ | 262,883 | | | $ | 230,192 | | | $ | 145,654 | | | $ | 244,493 | | | $ | — | | | $ | — | |
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(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
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See Notes to Financial Statements.
114
| | | | | | | | |
| | | STRATEGIC PARTNERS MONEY MARKET FUND
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| |
OPERATIONS: | | | | | | | | |
Net Investment Income (Loss) | | $ | 1,343,139 | | | $ | 1,392,758 | |
Net Realized Gain (Loss) on Investments and Foreign Currencies | | | (358 | ) | | | (15,463 | ) |
Net Change in Unrealized Appreciation (Depreciation) on Investments and Foreign Currencies | | | — | | | | — | |
| | |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations | | | 1,342,781 | | | | 1,377,295 | |
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| |
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DIVIDENDS AND DISTRIBUTIONS: | | | | | | | | |
Dividends from Net Investment Income: | | | | | | | | |
Class A | | | (5,350 | ) | | | (154 | ) |
Class B | | | — | | | | — | |
Class C | | | (131,230 | ) | | | (129,807 | ) |
Class D | | | (175,569 | ) | | | (206,044 | ) |
Class L | | | (269,412 | ) | | | (387,698 | ) |
Class M | | | (618,936 | ) | | | (571,379 | ) |
Class X | | | (142,642 | ) | | | (126,220 | ) |
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|
| |
|
|
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Total Dividends | | | (1,343,139 | ) | | | (1,421,302 | ) |
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| |
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|
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Distributions from Net Realized Gains: | | | | | | | | |
Class A | | | — | | | | — | |
Class B | | | — | | | | — | |
Class C | | | — | | | | — | |
Class D | | | — | | | | — | |
Class L | | | — | | | | — | |
Class M | | | — | | | | — | |
Class X | | | — | | | | — | |
| | |
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Total Distributions | | | — | | | | — | |
| | |
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| |
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FUND SHARE TRANSACTIONS (Note 4) | | | | | | | | |
Net Proceeds from Shares Sold(b) | | | 16,856,107 | | | | 74,781,556 | |
Net Asset Value of Shares Issued in Reinvestment of Dividends and Distributions | | | 1,078,529 | | | | 1,188,165 | |
Cost of Shares Redeemed | | | (47,080,147 | ) | | | (134,342,101 | ) |
| | |
|
|
| |
|
|
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Increase (Decrease) in Net Assets from Fund Share Transactions | | | (29,145,511 | ) | | | (58,372,380 | ) |
| | |
|
|
| |
|
|
|
Net Increase (Decrease) in Net Assets | | | (29,145,869 | ) | | | (58,416,387 | ) |
NET ASSETS: | | | | | | | | |
Beginning of Period | | | 121,215,355 | | | | 179,631,742 | |
| | |
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|
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End of Period(a) | | $ | 92,069,486 | | | $ | 121,215,355 | |
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(a) Includes Undistributed Net Investment Income of: | | $ | — | | | $ | — | |
| | |
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(b) Includes Value of Shares Issued in Merger (Note 8): | | $ | — | | | $ | — | |
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See Notes to Financial Statements.
115
APRIL 30, 2006
Notes to Financial Statements (Unaudited)
1. Organization
Strategic Partners Mutual Funds, Inc., formerly known as American Skandia Advisor Funds, Inc., (the “Company”) is an open-end management investment company, registered under the Investment Company Act of 1940, as amended. The Company was organized on March 5, 1997, as a Maryland Corporation. The Company operates as a series company and effective April 12, 2004, the name of the Company was changed to Strategic Partners Mutual Funds, Inc. At April 30, 2006, the Company consisted of 12 diversified and 2 non-diversified investment portfolios (Strategic Partners Mid-Cap Growth Fund and Strategic Partners Managed OTC Fund) (each a “Fund” and collectively the “Funds”).
The Funds of the Company have the following as investment objectives:
Strategic Partners International Growth Fund (“International Growth”): Capital growth by investing in equity securities of foreign companies.
Strategic Partners Small Cap Growth Fund (“Small Cap Growth”): Maximum capital growth by investing in equity securities of small capitalization companies included in the Russell 2000 Growth Index.
Strategic Partners Mid-Cap Growth Fund (“Mid-Cap Growth”): Long-term capital growth by investing primarily in equity securities of medium-sized companies.
Strategic Partners Mid Cap Value Fund (“Mid Cap Value”): Capital growth by investing primarily in common stocks of medium capitalization companies.
Strategic Partners Technology Fund (“Technology”): Capital growth by investing primarily in equity securities of companies engaged in technology-related industries.
Strategic Partners Managed OTC Fund (“Managed OTC”): Provide investment results that correlate to a multiple of the daily performance of the NASDAQ 100 Index by investing primarily in securities of companies included in the NASDAQ 100 and leveraged instruments, such as futures contracts and options, relating to the NASDAQ 100.
Strategic Partners Capital Growth Fund (“Capital Growth”): Capital growth by investing primarily in common stocks, with the majority of the Fund’s assets in large-cap stocks.
Strategic Partners Concentrated Growth Fund (“Concentrated Growth”): Capital growth by investing in equity securities of approximately 30-45 large-cap companies.
Strategic Partners Core Value Fund (“Core Value”): Long-term capital growth by investing primarily in common stocks of large capitalization companies that appear to be undervalued.
Strategic Partners Large Cap Core Fund (“Large Cap Core”): To outperform the S&P 500 Stock Index by investing primarily in common stocks included in the S&P 500.
Strategic Partners Equity Income Fund (“Equity Income”): Long term capital growth and income by investing primarily in common stocks that are believed to be selling at reasonable valuation in relation to their fundamental business prospects.
Strategic Partners Balanced Fund (“Balanced”): Capital growth and current income by investing in approximately 60% of its assets in equity securities and the remainder in bonds and other fixed income securities.
Strategic Partners High Yield Bond Fund (“High Yield Bond”): High current income by investing primarily in lower-quality fixed income securities.
Strategic Partners Money Market Fund (“Money Market”): Maximize current income and maintain high levels of liquidity by investing in high-quality, short-term, U.S. dollar-denominated instruments.
116
2. Significant Accounting Policies
The following accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Company and the Funds in the preparation of their financial statements.
Securities Valuation
Securities listed on a securities exchange (other than options on securities and indices) are valued at the last sale price on such exchange on the day of valuation or, if there was no sale on such day, at the mean between the last reported bid and asked prices, or at the last bid price on such day in the absence of an asked price. Securities that are actively traded via Nasdaq are valued at the official closing price as provided by Nasdaq. Securities that are actively traded in the over-the-counter market, including listed securities for which primary market is believed by Prudential Investments LLC (“PI” or “Manager”) in consultation with the subadviser, to be over-the-counter, are valued at market value using prices provided by an independent pricing agent or principal market maker. Futures contracts and options thereon traded on a commodities exchange or board of trade are valued at the last sale price at the close of trading on such exchange or board of trade or, if there was no sale on the applicable commodities exchange or board of trade on such day, at the mean between the most recently quoted prices on such exchange or board of trade or at the last bid price in the absence of an asked price. Prices may be obtained from independent pricing services which use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Securities for which reliable market quotations are not readily available, or whose values have been affected by events occurring after the close of the security’s foreign market and before the Fund’s normal pricing time, are valued at fair value in accordance with the Board of Directors’ approved fair valuation procedures. When determining the fair valuation of securities some of the factors influencing the valuation include, the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset value.
Investments in mutual funds are valued at the net asset value as of the close of the New York Stock Exchange on the date of valuation.
Short-term securities, which mature in sixty days or less, are valued at amortized cost, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase or market value on the 61st day, and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. Short-term securities, which mature in more than sixty days, are valued at current market quotations.
Foreign Currency Translation
Fund securities and other assets and liabilities denominated in foreign currencies are translated each business day into U.S. dollars based on the current rates of exchange. Purchases and sales of Fund securities and income and expenses are translated into U.S. dollars on the respective dates of such transactions. Gains and losses resulting from changes in exchange rates applicable to long-term foreign securities are not reported separately from gains and losses arising from movements in securities prices. Net realized foreign exchange gains and losses include gains and losses from sales and maturities of foreign currency exchange contracts, gains and losses realized between the trade and settlement dates of foreign securities transactions, and the difference between the amount of net investment income accrued on foreign securities and the U.S. dollar amount actually received. Net unrealized foreign exchange gains and losses include gains and losses from changes in the value of assets and liabilities other than Fund securities, resulting from changes in exchange rates.
117
Forward Currency Contracts
A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. Certain Funds, as defined in the prospectus, enter into forward currency contracts in order to hedge their exposure to changes in foreign currency exchange rates on their foreign portfolio holdings or on specific receivables and payables denominated in a foreign currency. The contracts are valued daily at forward exchange rates and any unrealized gain or loss is included in net unrealized appreciation or depreciation on investments. Gain or loss is realized on the settlement date of the contract equal to the difference between the settlement value of the original and renegotiated forward contracts. This gain or loss, if any, is included in net realized gain or loss on foreign currency transactions. Risks may arise upon entering into these contracts from the potential inability of the counter parties to meet the terms of their contracts.
Options
The Funds may either purchase or write options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates with respect to securities or financial instruments which the Fund currently owns or intends to purchase. The Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When the Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, the Fund realizes a gain or loss to the extent of the premium received or paid, respectively.
If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase. The difference between the premium and the amount received or paid on effecting a closing purchase or sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in net realized gain or loss on investment transactions. Gain or loss on written options is presented separately as net realized gain or loss on written option transactions.
The Fund, as writer of an option, may have no control over whether the underlying securities or financial instruments may be sold (called) or purchased (put). As a result, the Fund bears the market risk of an unfavorable change in the price of the security or financial instrument underlying the written option.
When a Fund writes an option on a swap, an amount equal to any premium received by the Fund is recorded as a liability and is subsequently adjusted to the current market value of the written option on the swap. If a call option on a swap is exercised, the Fund becomes obligated to pay (receive) a fixed interest rate (noted as the strike price) and receive (pay) a variable interest rate on a notional amount. If a put option on a swap is exercised, the Fund becomes obligated to pay a variable interest rate and receive a fixed interest rate (noted as the strike price) on a notional amount. Premiums received from writing options on swaps that expire or are exercised are treated as realized gains upon the expiration or exercise of such options on swaps. The risk associated with writing put and call options on swaps is that the Fund will be obligated to be party to a swap agreement if an option on a swap is exercised.
Financial Futures Contracts
A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the “initial margin.” Subsequent payments known as “variation margin,” are made or received by the Fund each day, depending on the daily fluctuations in the value of the underlying security. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain or loss. When the contract expires or is closed, the gain or loss is realized and is presented in the Statement of Operations as net realized gain or loss on financial futures contracts. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and underlying hedged assets.
118
Repurchase Agreements
A repurchase agreement is a commitment to purchase securities from a seller who agrees to repurchase the securities at an agreed-upon price and date. The excess of the resale price over the purchase price determines the yield on the transaction. Under the terms of the agreement, the market value, including accrued interest, of the securities will be at least equal to their repurchase price.
Repurchase agreements are recorded at cost, which, combined with accrued interest, approximates market value.
Repurchase agreements bear a risk of loss in the event that the seller defaults on its obligation to repurchase the securities. In such case, the Fund may be delayed or prevented from exercising its right to dispose of the securities.
Swap Agreements
The Funds may enter into swap agreements. A swap is an agreement to exchange the return generated by one instrument for the return generated by another instrument. The Funds may enter into interest rate, forward swap spread lock and credit default swap agreements to manage its exposure to interest rates and credit risk. Interest rate swap agreements involve the exchange by the Fund with another party of their respective commitments to pay or receive interest.
Forward spread lock swap agreements involve commitments to pay or receive a settlement amount calculated as the difference between the swap spread and a fixed spread, multiplied by the notional amount times the duration of the swap. The swap spread is the difference between the benchmark swap rate (market rate) and the specific Treasury rate. In a credit default swap, one party makes a stream of payments to another party in exchange for the right to receive a specified return in the event of a default by a third party, typically corporate issues or sovereign issues of an emerging country, on its obligation. Dividends and interest on the securities in the swap are included in the value of the exchange. The swaps are valued daily at current market value and any unrealized gain or loss is included in the net unrealized appreciation or depreciation on investments. Gain or loss is realized on the termination date of the swap and is equal to the difference between the Fund’s basis in the swap and the proceeds or costs of the closing transaction, including fees. During the period that the swap agreement is open, the Fund may be subject to risk from the potential inability of the counter party to meet the terms of the agreement.
Forward currency contracts, written options, financial futures contracts, and swap agreements involve elements of both market and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities.
Delayed Delivery Transactions
Certain Funds may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed delivery purchases are outstanding, the Fund will set aside and maintain until the settlement date in a segregated account, liquid assets in an amount sufficient to meet the purchase price. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its net asset value. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security.
119
Securities Loans
The Funds may lend their portfolio securities to broker-dealers. The loans are secured by collateral at least equal at all times to the market value of the securities loaned. Loans are subject to termination at the option of the borrower or the Funds. Upon termination of the loan, the borrower will return to the lender securities identical to the loaned securities. Should the borrower of the securities fail financially, the Funds have the right to repurchase the securities using the collateral in the open market. The Funds recognize income, net of any rebate and securities lending agent fees, for lending its securities in the form of fees or interest on the investment of any cash received as collateral. The Funds also continue to receive interest and dividends or amounts equivalent thereto, on the securities loaned and recognize any unrealized gain or loss in the market price of the securities loaned that may occur during the term of the loan.
Cash collateral received in connection with securities lending is invested in short-term investments by the lending agent. These may include the Prudential Core Money Market Series or Institutional Money Market Trust, advised by BlackRock Capital Management, Inc., or directly in high-quality, short-term instruments with a maturity date not to exceed 60 days.
Investment Transactions and Investment Income
Securities transactions are recorded on the trade date. Realized gains or losses on sales of investments and currency transactions are calculated on the identified cost basis. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. The Fund amortizes premiums and discounts on portfolio securities as adjustments to interest income. Expenses are recorded on the accrual basis which may require the use of certain estimates by management.
Net investment income or loss (other than distribution fees, which are charged directly to the respective class) and unrealized and realized gains or losses are allocated daily to each class of shares based upon the relative proportion of net assets of each class at the beginning of the day.
Traded Custody Receipts
The Trust invests in securities that represent an interest in a diversified portfolio (the “basket”) of debt instruments (the underlying securities). Under the term of the baskets, the Trust has direct ownership in each underlying security equal to its pro rata interest in the basket. In the event of default of any underlying security, the notional amount on which interest is earned is reduced by the par amount of the defaulted security, and the pro rata interest of such security is distributed to the Trust. Traded custody receipts (“TRACERS”) are custody receipts representing direct ownership in a static, unlevered portfolio of 28 investment-grade corporate bonds with an approximate 10-year final legal maturity. Purchasers of TRACERS will generally have all the rights and privileges of owners of the underlying bonds. Purchasers must withdraw any underlying bond that has defaulted or been downgraded below investment grade by Fitch, Ratings Ltd., either in the form of cash proceeds from liquidation or the transfer of their pro rata share of the underlying bond. As TRACERS approaches its final maturity date, it is expected that its market risk exposures will be reduced. Therefore, the volatility rating assigned to TRACERS is expected to improve (be lowered) over time.
Distributions to Shareholders
Distributions to shareholders are recorded on the ex-divided date. Dividends, if any, from net investment income are declared and paid at least annually by the International Growth, Small Cap Growth, Mid-Cap Growth, Mid Cap Value, Technology, Managed OTC, Capital Growth, Concentrated Growth, Core Value, Large Cap Core, Equity Income; semiannually by the Balanced, and declared daily and paid monthly by the High Yield Bond and Money Market.
These dividends and distributions are determined in accordance with federal income tax regulations and may differ from accounting principles generally accepted in the United States of America.
Net realized gains from investment transactions, if any are distributed at least annually. Permanent book/tax differences relating to income and gains are reclassified to paid-in capital when they arise.
120
Taxes
For federal income tax purposes, each Fund in the Company is treated as a separate tax paying entity. It is the Funds’ policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable net income and capital gains, if any, to shareholders. Therefore, no federal tax provision is required. Withholding taxes on foreign dividends are recorded net of reclaimable amounts, at the time the related income is earned.
Estimates
The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
3. Agreements and Other Transactions with Affiliates
The Funds have entered into investment management agreements with Prudential Investments LLC (“Investment Manager”) which provide that the Investment Manager will furnish each Fund with investment advice and investment management and administrative services. The Investment Manager has engaged the following firms as Sub-advisors for their respective Funds’/portion of a Fund, as of April 30, 2006:
| | |
FUND
| | Subadvisor
|
| |
International Growth | | William Blair & Company, LLC |
Small Cap Growth | | RS Investment Management, L.P. |
| | | Transamerica Asset Management, LLC |
Mid-Cap Growth | | Goldman Sachs Asset Management, L.P. |
Mid Cap Value | | Neuberger Berman Management, Inc. |
Technology | | The Dreyfus Corporation |
Managed OTC | | ProFund Advisors, LLC |
Capital Growth | | Marsico Capital Management, LLC |
Concentrated Growth | | Golman Sachs Asset Management, L.P. |
Core Value | | AllianceBernstein, L.P. |
Large Cap Core | | AllianceBernstein, L.P. |
Equity Income | | AllianceBernstein, L.P. |
| | | T. Rowe Price Associates, Inc. |
Balanced | | American Century Investment Management, Inc. |
High Yield | | Goldman Sachs Asset Management, L.P. * |
| | | Pacific Investment Management Company, LLC (PIMCO)* |
Money Market | | Prudential Investment Management, Inc. |
| | * | On or about June 16, 2006, PIMCO will be the sole subadvisor of High Yield. |
121
Advisory Fees and Expense Limitations
The Investment Manager receives a fee, computed daily and paid monthly, based on an annual rate of the average net assets. The Investment Manager pays each Sub-advisor a fee as compensation for advisory services provided to the Funds. The Investment Manager has voluntarily agreed to waive expenses in accordance with limitation expense policies as noted in the table below. The Investment Manager will reimburse each Fund for its respective operating expenses, exclusive of taxes, interest, brokerage commissions, distribution fees and extraordinary expenses, but inclusive of the advisory fee, which in the aggregate exceed specified percentages of the Funds’ average net assets while retaining their ability to be reimbursed for such fee waivers prior to the end of the fiscal year. The advisory fees and expense limitations are summarized as follows:
| | | | | | |
| | | Advisory Expense
| | Effective Advisory Fees
Net of Waiver
| | Fees
Limitations
|
International Growth Fund | | 1.00% to $500 million; 0.95% next $500 million; 0.90% $1 billion and over | | 0.95% | | 1.60% |
| | | |
Small Cap Growth Fund | | 0.95% | | 0.85% | | 1.30% |
| | | |
Mid-Cap Growth Fund | | 0.90% to $500 million; 0.85% next $500 million; 0.80% $1 billion and over | | 0.90% | | 1.40% |
| | | |
Mid Cap Value Fund | | 0.90% to $500 million; 0.85% next $500 million; 0.80% $1 billion and over | | 0.90% | | 1.35% |
| | | |
Technology Fund | | 1.00% | | 1.00% | | 1.40% |
| | | |
Managed OTC Fund | | 0.85% | | 0.85% | | 1.25% |
| | | |
Capital Growth Fund | | 0.90% to $500 million; 0.85% next $500 million; 0.80% $1 billion and over | | 0.90% | | 1.30% |
| | | |
Concentrated Growth Fund | | 0.90% to $500 million; 0.85% next $500 million; 0.80% $1 billion and over | | 0.90% | | 1.25% |
| | | |
Core Value Fund | | 0.85% | | 0.85% | | 1.20% |
| | | |
Large Cap Core Fund | | 0.80% to $500 million; 0.75% next $500 million; 0.70% $1 billion and over | | 0.80% | | 1.00% |
| | | |
Equity Income Fund | | 0.85% to $500 million; 0.80% next $500 million; 0.75% $1 billion and over | | 0.85% | | 1.15% |
| | | |
Balanced Fund | | 0.75% to $500 million; 0.70% next $500 million; 0.65% $1 billion and over | | 0.75% | | 1.15% |
| | | |
High Yield Bond Fund | | 0.70% to $500 million; 0.65% next $500 million; 0.60% $1 billion and over | | 0.70% | | 1.00% |
| | | |
Money Market Fund | | 0.50% | | 0.50% | | 1.00% |
The Investment Manager has voluntarily agreed to waive portions of its advisory fees equal to 0.05% of average daily net assets of International Growth, and 0.10% of average daily net assets of Small Cap Growth for the six months ended April 30, 2006. The Investment Manager will waive a portion of its advisory fee for the Money Market Fund to the extent necessary to keep net operating expenses from exceeding total investment income. Such voluntary fee waivers or reductions have been calculated prior to any fee reimbursements with respect to the expense limitations, and may be rescinded at any time and without notice to investors. All reimbursements by the Investment Manager are reflected in the Statements of Operations.
122
Management of the Company
Certain officers and directors of the Funds are officers or directors of the Investment Manager. The Funds pay no compensation directly to their officers or interested directors.
Distributor
Prudential Investment Management Services LLC (“PIMS”) and American Skandia Marketing, Incorporated (“ASMI”), both affiliates of Prudential Investments LLC and an indirect, wholly-owned subsidiary of Prudential serves as the distributor for the Funds. The Company has adopted a separate Distribution and Service plan (each a “Plan” and collectively the “Plans”) for Class A, B, C, D, L, M, X and Z shares of each Fund in accordance with the requirements of Rule 12b-1 of the Investment Company Act of 1940. No distribution or service fees are paid to PIMS as distributor for Class Z shares.
Under the Plans, the Funds compensate PIMS and ASMI a distribution and service fee at an annual rate up to 0.30%, 1.00%, 1.00%, 0.50%, 0.50%, 1.00% and 1.00% of the average daily net assets of the Class A, B, C, D, L, M and X shares, respectively. For the six months ended April 30, 2006, PIMS has contractually agreed to limit such fees to 0.25 of 1% of the average daily net assets of the Class A shares. Money Market Fund compensates PIMS and ASMI a distribution and service fee at an annual rate of 0.125% of the average daily net assets. Mid Cap Value’s Class X shares expense under the plan was 0.34 of 1% of the average daily net assets of Class X shares for the six months ended April 30, 2006.
During the six months ended April 30, 2006, PIMS has advised the Funds, front-end sales charges (“FESC”) and gross contingent deferred sales charges (“CDSC”) were approximately as follows:
| | | | | | | | | | | | | | | | | | |
| | | Class A
FESC
| | Class A
CDSC
| | Class B
CDSC
| | Class C
CDSC
| | Class M
CDSC
| | Class X
CDSC
|
International Growth | | $ | 50,700 | | $ | — | | $ | 8,600 | | $ | 600 | | $ | 12,700 | | $ | 2,900 |
Small Cap Growth | | | 17,100 | | | — | | | 9,400 | | | 600 | | | 5,800 | | | 1,600 |
Mid-Cap Growth | | | 26,200 | | | — | | | 7,000 | | | 300 | | | 10,500 | | | 1,700 |
Mid Cap Value | | | 88,600 | | | 4,900 | | | 74,200 | | | 1,900 | | | 21,900 | | | 3,200 |
Technology | | | — | | | — | | | 1,200 | | | 300 | | | 3,600 | | | 400 |
Managed OTC | | | 9,600 | | | — | | | 8,500 | | | 100 | | | 2,700 | | | 600 |
Capital Growth | | | 121,800 | | | — | | | 17,400 | | | 2,400 | | | 32,400 | | | 6,600 |
Concentrated Growth | | | 41,500 | | | — | | | 14,500 | | | 700 | | | 18,300 | | | 4,200 |
Core Value | | | 9,700 | | | — | | | 2,200 | | | 100 | | | 2,900 | | | 200 |
Large Cap Core | | | 23,000 | | | — | | | 12,700 | | | 600 | | | 31,900 | | | 900 |
Equity Income | | | 30,600 | | | — | | | 10,500 | | | 1,100 | | | 22,900 | | | 3,800 |
Balanced | | | 34,200 | | | — | | | 3,900 | | | 400 | | | 11,600 | | | 700 |
High Yield Bond | | | 24,800 | | | 1,600 | | | 3,600 | | | 200 | | | 13,400 | | | 700 |
Money Market | | | — | | | — | | | — | | | — | | | 16,100 | | | 4,500 |
Transfer Agent
Prudential Mutual Fund Services LLC (“PMFS”), an affiliate of Prudential Investments LLC and an indirect, wholly-owned subsidiary of Prudential, serves as the Funds’ transfer agent. Transfer agent fees and expenses are shown in the Statements of Operations.
Cash Sweep
The Funds invest in the Taxable Money Market Series (the “Series”), a portfolio of Dryden Core Investment Fund, pursuant to an exemptive order received from the Securities and Exchange Commission. The Series is a money market mutual fund registered under the Investment Company Act of 1940, as amended, and managed by PI.
Securities Lending Agent
Prudential Investment Management, Inc. (“PIM”), an indirect, wholly-owned subsidiary of Prudential, served as the Funds’ securities lending agent. For the six months ended April 30, 2006, PIM was compensated as follows for these services by the Funds’:
| | | |
FUND
| | PIM
|
International Growth | | $ | 639 |
Small Cap Growth | | | 25,461 |
Mid-Cap Growth | | | 7,818 |
Mid Cap Value | | | 37,865 |
Capital Growth | | | 82,235 |
Concentrated Growth | | | 7,794 |
Large Cap Core | | | 5,782 |
Equity Income | | | 6,540 |
High Yield | | | 17,334 |
123
Broker
For the six months ended April 30, 2006, Prudential Equity Group, LLC, and Wachovia Securities, LLC, earned brokerage commissions from transactions executed on behalf of the Funds:
| | | | | | |
FUND
| | Prudential
Equity Group
| | Wachovia
|
Mid Cap Value | | $ | 9,045 | | $ | 4,020 |
Technology | | | — | | | 96 |
Equity Income | | | — | | | 2,735 |
Balanced | | | 17 | | | — |
4. Shares of Capital Stock
Class A shares (except for Money Market) are sold with a front-end sales charge of up to 5.50%. Purchases of $1 million or more are subject to a contingent deferred sales charge (“CDSC”) if shares are redeemed within 12 months of their purchase. Class B shares (except for Money Market) are sold with a CDSC which declines from 5% to zero depending upon the period of time the shares are held. Class B shares will automatically convert to Class A shares approximately seven years after purchase. Class M shares will automatically convert to Class A shares approximately eight years after purchase. Class C shares are sold with a CDSC of 1% during the first 12 months. Class L shares are closed to most new purchases (with the exception of reinvested dividends and purchases by certain college savings plans). Class M shares are also closed to most new purchases (with the exception of reinvested dividends). Class L shares and Class M shares are only exchangeable with Class L shares and Class M shares, respectively, offered by the other Strategic Partners Funds. Class X shares are closed to new purchases. In addition, for Money Market only, Class D shares are offered with no sales charge. The authorized capital stock of the Funds is 5.5 billion shares, with a par value of $.001 per share. Class Z shares are not subject to any sales or redemption charge and are offered exclusively for sale to a limited group of investors.
Transactions in shares of capital stock, during the six months ended April 30, 2006, were as follows:
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
INTERNATIONAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 446,416 | | | $ | 6,985,739 | | | 133,742 | | | $ | 2,027,796 | | | 128,877 | | | $ | 1,971,170 | |
Redeemed | | (229,273 | ) | | | (3,587,731 | ) | | (68,968 | ) | | | (1,042,327 | ) | | (482,478 | ) | | | (7,273,611 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 217,143 | | | | 3,398,008 | | | 64,774 | | | | 985,469 | | | (353,601 | ) | | | (5,302,441 | ) |
Conversions from Class B and Class M into Class A | | 58,716 | | | | 910,429 | | | (1,334 | ) | | | (20,020 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 275,859 | | | $ | 4,308,437 | | | 63,440 | | | $ | 965,449 | | | (353,601 | ) | | $ | (5,302,441 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
SMALL CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 354,964 | | | $ | 2,023,107 | | | 73,841 | | | $ | 404,209 | | | 143,778 | | | $ | 777,429 | |
Reinvested | | 29,405 | | | | 161,730 | | | 30,084 | | | | 157,941 | | | 72,909 | | | | 385,687 | |
Redeemed | | (299,822 | ) | | | (1,702,687 | ) | | (161,807 | ) | | | (875,368 | ) | | (792,791 | ) | | | (4,308,086 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 84,547 | | | | 482,150 | | | (57,882 | ) | | | (313,218 | ) | | (576,104 | ) | | | (3,144,970 | ) |
Conversion from Class B and Class M into Class A | | 46,234 | | | | 260,344 | | | (8,059 | ) | | | (42,984 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 130,781 | | | $ | 742,494 | | | (65,941 | ) | | $ | (356,202 | ) | | (576,104 | ) | | $ | (3,144,970 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MID-CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 479,402 | | | $ | 2,406,525 | | | 122,320 | | | $ | 599,128 | | | 87,322 | | | $ | 429,058 | |
Redeemed | | (278,380 | ) | | | (1,400,201 | ) | | (78,320 | ) | | | (379,942 | ) | | (823,186 | ) | | | (3,992,007 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 201,022 | | | | 1,006,324 | | | 44,000 | | | | 219,186 | | | (735,864 | ) | | | (3,562,949 | ) |
Conversion from Class B and Class M into Class A | | 24,961 | | | | 125,509 | | | (316 | ) | | | (1,549 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 225,983 | | | $ | 1,131,833 | | | 43,684 | | | $ | 217,637 | | | (735,864 | ) | | $ | (3,562,949 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
INTERNATIONAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 45,568 | | | $ | 717,603 | | | 283,863 | | | $ | 4,358,310 | | | 68,775 | | | $ | 1,058,031 | |
Redeemed | | (393,263 | ) | | | (6,116,763 | ) | | (1,169,730 | ) | | | (17,691,212 | ) | | (356,040 | ) | | | (5,472,657 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (347,695 | ) | | | (5,399,160 | ) | | (885,867 | ) | | | (13,332,902 | ) | | (287,265 | ) | | | (4,414,626 | ) |
Conversions from Class B and Class M into Class A | | — | | | | — | | | (59,235 | ) | | | (890,409 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (347,695 | ) | | $ | (5,399,160 | ) | | (945,102 | ) | | $ | (14,223,311 | ) | | (287,265 | ) | | $ | (4,414,626 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
SMALL CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 24,655 | | | $ | 143,554 | | | 164,424 | | | $ | 905,453 | | | 30,127 | | | $ | 165,679 | |
Reinvested | | 52,720 | | | | 287,849 | | | 139,554 | | | | 738,235 | | | 33,227 | | | | 176,102 | |
Redeemed | | (523,629 | ) | | | (2,937,950 | ) | | (1,310,959 | ) | | | (7,153,958 | ) | | (346,150 | ) | | | (1,910,450 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (446,254 | ) | | | (2,506,547 | ) | | (1,006,981 | ) | | | (5,510,270 | ) | | (282,796 | ) | | | (1,568,669 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (40,129 | ) | | | (217,360 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (446,254 | ) | | $ | (2,506,547 | ) | | (1,047,110 | ) | | $ | (5,727,630 | ) | | (282,796 | ) | | $ | (1,568,669 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MID-CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 66,219 | | | $ | 338,813 | | | 214,149 | | | $ | 1,033,540 | | | 86,687 | | | $ | 408,937 | |
Redeemed | | (897,198 | ) | | | (4,481,417 | ) | | (2,112,387 | ) | | | (10,264,676 | ) | | (523,873 | ) | | | (2,542,819 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (830,979 | ) | | | (4,142,604 | ) | | (1,898,238 | ) | | | (9,231,136 | ) | | (437,186 | ) | | | (2,133,882 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (25,439 | ) | | | (123,960 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (830,979 | ) | | $ | (4,142,604 | ) | | (1,923,677 | ) | | $ | (9,355,096 | ) | | (437,186 | ) | | $ | (2,133,882 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
124
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MID CAP VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,621,752 | | | $ | 28,457,444 | | | 3,303,558 | | | $ | 54,623,425 | | | 2,673,588 | | | $ | 44,244,707 | |
Reinvested | | 149,136 | | | | 2,514,438 | | | 42,501 | | | | 679,291 | | | 593,277 | | | | 9,462,775 | |
Redeemed | | (286,543 | ) | | | (5,170,066 | ) | | (342,975 | ) | | | (5,847,203 | ) | | (770,490 | ) | | | (13,171,102 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 1,484,345 | | | | 25,801,816 | | | 3,003,084 | | | | 49,455,513 | | | 2,496,375 | | | | 40,536,380 | |
Conversion from Class B and Class M into Class A | | 33,005 | | | | 588,726 | | | (15,280 | ) | | | (252,699 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 1,517,350 | | | $ | 26,390,542 | | | 2,987,804 | | | $ | 49,202,814 | | | 2,496,375 | | | $ | 40,536,380 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MID CAP VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 105,344 | | | $ | 1,901,143 | | | 322,279 | | | $ | 5,444,892 | | | 93,506 | | | $ | 1,580,262 | |
Reinvested | | 480,517 | | | | 8,024,632 | | | 1,552,099 | | | | 24,755,971 | | | 282,170 | | | | 4,483,672 | |
Redeemed | | (476,877 | ) | | | (8,527,594 | ) | | (1,292,751 | ) | | | (22,215,949 | ) | | (245,280 | ) | | | (4,203,694 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 108,984 | | | | 1,398,181 | | | 581,627 | | | | 7,984,914 | | | 130,396 | | | | 1,860,240 | |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (19,597 | ) | | | (336,027 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 108,984 | | | $ | 1,398,181 | | | 562,030 | | | $ | 7,648,887 | | | 130,396 | | | $ | 1,860,240 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
TECHNOLOGY: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 170,969 | | | $ | 523,473 | | | 30,933 | | | $ | 90,920 | | | 42,496 | | | $ | 126,121 | |
Redeemed | | (101,406 | ) | | | (310,834 | ) | | (13,133 | ) | | | (38,049 | ) | | (264,316 | ) | | | (773,941 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 69,563 | | | $ | 212,639 | | | 17,800 | | | $ | 52,871 | | | (221,820 | ) | | $ | (647,820 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MANAGED OTC: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 186,933 | | | $ | 545,891 | | | 132,562 | | | $ | 376,171 | | | 154,199 | | | $ | 434,607 | |
Redeemed | | (146,714 | ) | | | (424,175 | ) | | (73,704 | ) | | | (211,525 | ) | | (649,656 | ) | | | (1,841,460 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 40,219 | | | | 121,716 | | | 58,858 | | | | 164,646 | | | (495,457 | ) | | | (1,406,853 | ) |
Conversion from Class B and Class M into Class A | | 2,448 | | | | 7,165 | | | (222 | ) | | | (621 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 42,667 | | | $ | 128,881 | | | 58,636 | | | $ | 164,025 | | | (495,457 | ) | | $ | (1,406,853 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CAPITAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 504,408 | | | $ | 8,229,822 | | | 132,184 | | | $ | 2,077,975 | | | 335,963 | | | $ | 5,285,060 | |
Redeemed | | (228,050 | ) | | | (3,725,435 | ) | | (43,667 | ) | | | (684,638 | ) | | (1,334,000 | ) | | | (20,844,153 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 276,358 | | | | 4,504,387 | | | 88,517 | | | | 1,393,337 | | | (998,037 | ) | | | (15,559,093 | ) |
Conversion from Class B, Class M and Class X into Class A | | 69,698 | | | | 1,138,141 | | | (5,901 | ) | | | (91,753 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 346,056 | | | $ | 5,642,528 | | | 82,616 | | | $ | 1,301,584 | | | (998,037 | ) | | $ | (15,559,093 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CONCENTRATED GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 324,572 | | | $ | 4,136,231 | | | 103,707 | | | $ | 1,127,702 | | | 56,951 | | | $ | 618,580 | |
Redeemed | | (161,601 | ) | | | (2,063,416 | ) | | (44,234 | ) | | | (482,309 | ) | | (722,912 | ) | | | (7,815,678 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 162,971 | | | | 2,072,815 | | | 59,473 | | | | 645,393 | | | (665,961 | ) | | | (7,197,098 | ) |
Conversion from Class B and Class M into Class A | | 82,193 | | | | 1,049,461 | | | (24 | ) | | | (254 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 245,164 | | | $ | 3,122,276 | | | 59,449 | | | $ | 645,139 | | | (665,961 | ) | | $ | (7,197,098 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CORE VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 109,063 | | | $ | 1,421,372 | | | 11,471 | | | $ | 150,761 | | | 17,770 | | | $ | 234,992 | |
Reinvested | | 9,468 | | | | 119,963 | | | 4,772 | | | | 60,460 | | | 39,231 | | | | 497,058 | |
Redeemed | | (55,625 | ) | | | (733,774 | ) | | (5,851 | ) | | | (76,597 | ) | | (190,148 | ) | | | (2,488,452 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 62,906 | | | | 807,561 | | | 10,392 | | | | 134,624 | | | (133,147 | ) | | | (1,756,402 | ) |
Conversion from Class B and Class M into Class A | | 1,965 | | | | 25,724 | | | (435 | ) | | | (5,622 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 64,871 | | | $ | 833,285 | | | 9,957 | | | $ | 129,002 | | | (133,147 | ) | | $ | (1,756,402 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
TECHNOLOGY: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 11,727 | | | $ | 37,378 | | | 106,307 | | | $ | 309,962 | | | 20,409 | | | $ | 59,817 | |
Redeemed | | (129,904 | ) | | | (395,706 | ) | | (381,429 | ) | | | (1,113,263 | ) | | (72,644 | ) | | | (215,828 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (118,177 | ) | | $ | (358,328 | ) | | (275,122 | ) | | $ | (803,301 | ) | | (52,235 | ) | | $ | (156,011 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MANAGED OTC: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 71,270 | | | $ | 205,678 | | | 148,056 | | | $ | 410,531 | | | 65,310 | | | $ | 182,624 | |
Redeemed | | (506,961 | ) | | | (1,469,112 | ) | | (557,191 | ) | | | (1,578,004 | ) | | (83,100 | ) | | | (235,071 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (435,691 | ) | | | (1,263,434 | ) | | (409,135 | ) | | | (1,167,473 | ) | | (17,790 | ) | | | (52,447 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (2,296 | ) | | | (6,544 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (435,691 | ) | | $ | (1,263,434 | ) | | (411,431 | ) | | $ | (1,174,017 | ) | | (17,790 | ) | | $ | (52,447 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CAPITAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 31,134 | | | $ | 520,531 | | | 301,389 | | | $ | 4,701,375 | | | 55,858 | | | $ | 878,712 | |
Redeemed | | (923,367 | ) | | | (14,994,417 | ) | | (2,537,963 | ) | | | (39,657,610 | ) | | (511,722 | ) | | | (8,011,021 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (892,233 | ) | | | (14,473,886 | ) | | (2,236,574 | ) | | | (34,956,235 | ) | | (455,864 | ) | | | (7,132,309 | ) |
Conversion from Class B, Class M and Class X into Class A | | — | | | | — | | | (66,906 | ) | | | (1,046,317 | ) | | (4 | ) | | | (71 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (892,233 | ) | | $ | (14,473,886 | ) | | (2,303,480 | ) | | $ | (36,002,552 | ) | | (455,868 | ) | | $ | (7,132,380 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CONCENTRATED GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 4,987 | | | $ | 84,719 | | | 50,513 | | | $ | 554,061 | | | 5,043 | | | $ | 56,687 | |
Redeemed | | (641,973 | ) | | | (8,098,404 | ) | | (2,505,780 | ) | | | (27,213,770 | ) | | (453,498 | ) | | | (4,950,426 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (636,986 | ) | | | (8,013,685 | ) | | (2,455,267 | ) | | | (26,659,709 | ) | | (448,455 | ) | | | (4,893,739 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (96,102 | ) | | | (1,049,207 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (636,986 | ) | | $ | (8,013,685 | ) | | (2,551,369 | ) | | $ | (27,708,916 | ) | | (448,455 | ) | | $ | (4,893,739 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CORE VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 15,078 | | | $ | 199,153 | | | 59,404 | | | $ | 780,755 | | | 20,315 | | | $ | 268,520 | |
Reinvested | | 32,416 | | | | 410,387 | | | 87,548 | | | | 1,109,236 | | | 17,242 | | | | 218,629 | |
Redeemed | | (88,619 | ) | | | (1,162,536 | ) | | (220,690 | ) | | | (2,887,357 | ) | | (49,246 | ) | | | (644,333 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (41,125 | ) | | | (552,996 | ) | | (73,738 | ) | | | (997,366 | ) | | (11,689 | ) | | | (157,184 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (1,536 | ) | | | (20,102 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (41,125 | ) | | $ | (552,996 | ) | | (75,274 | ) | | $ | (1,017,468 | ) | | (11,689 | ) | | $ | (157,184 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
125
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
LARGE CAP CORE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 302,665 | | | $ | 3,027,197 | | | 62,889 | | | $ | 612,077 | | | 78,979 | | | $ | 775,671 | |
Reinvested | | 5,754 | | | | 57,085 | | | 271 | | | | 2,622 | | | 2,049 | | | | 19,792 | |
Redeemed | | (218,984 | ) | | | (2,183,727 | ) | | (62,174 | ) | | | (600,471 | ) | | (604,667 | ) | | | (5,844,422 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 89,435 | | | | 900,555 | | | 986 | | | | 14,228 | | | (523,639 | ) | | | (5,048,959 | ) |
Conversion from Class B and Class M into Class A | | 19,799 | | | | 197,510 | | | (2,141 | ) | | | (20,700 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 109,234 | | | $ | 1,098,065 | | | (1,155 | ) | | $ | (6,472 | ) | | (523,639 | ) | | $ | (5,048,959 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
EQUITY INCOME: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 282,100 | | | $ | 4,219,938 | | | 50,188 | | | $ | 721,567 | | | 55,995 | | | $ | 820,015 | |
Reinvested | | 617 | | | | 9,020 | | | — | | | | — | | | — | | | | — | |
Redeemed | | (150,446 | ) | | | (2,230,726 | ) | | (24,298 | ) | | | (348,771 | ) | | (614,144 | ) | | | (8,822,552 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 132,271 | | | | 1,998,232 | | | 25,890 | | | | 372,796 | | | (558,149 | ) | | | (8,002,537 | ) |
Conversion from Class B and Class M into Class A | | 103,256 | | | | 1,537,498 | | | (1 | ) | | | (18 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 235,527 | | | $ | 3,535,730 | | | 25,889 | | | $ | 372,778 | | | (558,149 | ) | | $ | (8,002,537 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
BALANCED: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 160,226 | | | $ | 2,197,155 | | | 32,495 | | | $ | 444,892 | | | 48,790 | | | $ | 673,036 | |
Reinvested | | 3,467 | | | | 47,148 | | | 622 | | | | 8,461 | | | 3,286 | | | | 44,657 | |
Redeemed | | (114,495 | ) | | | (1,570,602 | ) | | (14,705 | ) | | | (202,014 | ) | | (169,563 | ) | | | (2,310,091 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 49,198 | | | | 673,701 | | | 18,412 | | | | 251,339 | | | (117,487 | ) | | | (1,592,398 | ) |
Conversion from Class B and Class M into Class A | | 32,042 | | | | 439,145 | | | (5 | ) | | | (72 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 81,240 | | | $ | 1,112,846 | | | 18,407 | | | $ | 251,267 | | | (117,487 | ) | | $ | (1,592,398 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
HIGH YIELD BOND: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 718,754 | | | $ | 5,156,688 | | | 52,006 | | | $ | 373,028 | | | 355,476 | | | $ | 2,538,886 | |
Reinvested | | 26,035 | | | | 187,436 | | | 5,380 | | | | 38,656 | | | 57,631 | | | | 413,864 | |
Redeemed | | (685,109 | ) | | | (4,924,542 | ) | | (28,362 | ) | | | (203,771 | ) | | (376,092 | ) | | | (2,698,547 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 59,680 | | | | 419,582 | | | 29,024 | | | | 207,913 | | | 37,015 | | | | 254,203 | |
Conversion from Class B and Class M into Class A | | 93,978 | | | | 674,646 | | | (1,636 | ) | | | (11,675 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 153,658 | | | $ | 1,094,228 | | | 27,388 | | | $ | 196,238 | | | 37,015 | | | $ | 254,203 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
LARGE CAP CORE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 12,763 | | | $ | 136,605 | | | 149,443 | | | $ | 1,480,309 | | | 5,588 | | | $ | 57,436 | |
Reinvested | | 10,495 | | | | 103,793 | | | 4,535 | | | | 45,788 | | | 688 | | | | 6,621 | |
Redeemed | | (366,978 | ) | | | (3,640,423 | ) | | (1,248,781 | ) | | | (12,091,203 | ) | | (126,713 | ) | | | (1,224,706 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (343,720 | ) | | | (3,400,025 | ) | | (1,094,803 | ) | | | (10,565,106 | ) | | (120,437 | ) | | | (1,160,649 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (18,215 | ) | | | (176,810 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (343,720 | ) | | $ | (3,400,025 | ) | | (1,113,018 | ) | | $ | (10,741,916 | ) | | (120,437 | ) | | $ | (1,160,649 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
EQUITY INCOME: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 14,302 | | | $ | 241,552 | | | 63,076 | | | $ | 907,007 | | | 9,661 | | | $ | 139,562 | |
Reinvested | | 594 | | | | 8,647 | | | — | | | | — | | | — | | | | — | |
Redeemed | | (591,772 | ) | | | (8,735,032 | ) | | (1,588,486 | ) | | | (22,796,642 | ) | | (519,897 | ) | | | (7,481,691 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (576,876 | ) | | | (8,484,833 | ) | | (1,525,410 | ) | | | (21,889,635 | ) | | (510,236 | ) | | | (7,342,129 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (106,341 | ) | | | (1,537,480 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (576,876 | ) | | $ | (8,484,833 | ) | | (1,631,751 | ) | | $ | (23,427,115 | ) | | (510,236 | ) | | $ | (7,342,129 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
BALANCED: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 13,474 | | | $ | 186,173 | | | 69,185 | | | $ | 943,983 | | | 23,157 | | | $ | 315,875 | |
Reinvested | | 5,931 | | | | 80,662 | | | 13,380 | | | | 181,838 | | | 3,222 | | | | 43,791 | |
Redeemed | | (163,289 | ) | | | (2,234,186 | ) | | (667,427 | ) | | | (9,120,726 | ) | | (162,768 | ) | | | (2,227,585 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (143,884 | ) | | | (1,967,351 | ) | | (584,862 | ) | | | (7,994,905 | ) | | (136,389 | ) | | | (1,867,919 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (32,092 | ) | | | (439,073 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (143,884 | ) | | $ | (1,967,351 | ) | | (616,954 | ) | | $ | (8,433,978 | ) | | (136,389 | ) | | $ | (1,867,919 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
HIGH YIELD BOND: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 44,219 | | | $ | 316,402 | | | 750,129 | | | $ | 5,378,089 | | | 71,128 | | | $ | 506,506 | |
Reinvested | | 43,470 | | | | 312,208 | | | 180,247 | | | | 1,293,032 | | | 40,139 | | | | 287,908 | |
Redeemed | | (326,984 | ) | | | (2,346,408 | ) | | (2,027,582 | ) | | | (14,521,488 | ) | | (306,912 | ) | | | (2,197,036 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (239,295 | ) | | | (1,717,798 | ) | | (1,097,206 | ) | | | (7,850,367 | ) | | (195,645 | ) | | | (1,402,622 | ) |
Conversion from Class B and Class M into Class A | | — | | | | — | | | (92,550 | ) | | | (662,971 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (239,295 | ) | | $ | (1,717,798 | ) | | (1,189,756 | ) | | $ | (8,513,338 | ) | | (195,645 | ) | | $ | (1,402,622 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS C
| | | CLASS D
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MONEY MARKET: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 232,001 | | | $ | 232,001 | | | 212,333 | | | $ | 212,333 | | | 115,759 | | | $ | 115,759 | |
Reinvested | | 5,217 | | | | 5,217 | | | 88,124 | | | | 88,124 | | | 117,379 | | | | 117,379 | |
Redeemed | | (56,532 | ) | | | (56,532 | ) | | (3,017,346 | ) | | | (3,017,346 | ) | | (2,116,886 | ) | | | (2,116,886 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | 180,686 | | | | 180,686 | | | (2,716,889 | ) | | | (2,716,889 | ) | | (1,883,748 | ) | | | (1,883,748 | ) |
Conversion from Class M into Class A | | 846,522 | | | | 846,522 | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | 1,027,208 | | | $ | 1,027,208 | | | (2,716,889 | ) | | $ | (2,716,889 | ) | | (1,883,748 | ) | | $ | (1,883,748 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MONEY MARKET: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 3,577,656 | | | $ | 3,577,656 | | | 8,955,863 | | �� | $ | 8,955,863 | | | 3,762,498 | | | $ | 3,762,495 | |
Reinvested | | 240,617 | | | | 240,617 | | | 505,679 | | | | 505,679 | | | 121,511 | | | | 121,513 | |
Redeemed | | (10,293,204 | ) | | | (10,293,204 | ) | | (24,943,301 | ) | | | (24,943,301 | ) | | (6,652,878 | ) | | | (6,652,878 | ) |
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|
| |
|
|
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|
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|
|
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|
| |
|
|
|
Net Increase / (Decrease) before Conversion | | (6,474,931 | ) | | | (6,474,931 | ) | | (15,481,759 | ) | | | (15,481,759 | ) | | (2,768,869 | ) | | | (2,768,870 | ) |
Conversion from Class M into Class A | | — | | | | — | | | (846,522 | ) | | | (846,522 | ) | | — | | | | — | |
| | |
|
| |
|
|
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|
| |
|
|
| |
|
| |
|
|
|
Net Increase / (Decrease) | | (6,474,931 | ) | | $ | (6,474,931 | ) | | (16,328,281 | ) | | $ | (16,328,281 | ) | | (2,768,869 | ) | | $ | (2,768,870 | ) |
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|
|
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|
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|
|
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|
| |
|
|
|
Transactions in shares of capital stock, during the year ended October 31, 2005, were as follows:
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
INTERNATIONAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 846,268 | | | $ | 10,858,026 | | | 343,850 | | | $ | 4,324,095 | | | 228,000 | | | $ | 2,870,635 | |
Reinvested | | 12,713 | | | | 159,672 | | | 477 | | | | 5,859 | | | 19,575 | | | | 240,965 | |
Redeemed | | (607,760 | ) | | | (7,898,438 | ) | | (234,803 | ) | | | (2,980,127 | ) | | (1,415,305 | ) | | | (17,833,016 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 251,221 | | | | 3,119,260 | | | 109,524 | | | | 1,349,827 | | | (1,167,730 | ) | | | (14,721,416 | ) |
Conversion from Class B into Class A | | 330 | | | | 4,392 | | | (339 | ) | | | (4,392 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 251,551 | | | $ | 3,123,652 | | | 109,185 | | | $ | 1,345,435 | | | (1,167,730 | ) | | $ | (14,721,416 | ) |
| | |
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|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
INTERNATIONAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 133,959 | | | $ | 1,720,179 | | | 505,054 | | | $ | 6,314,146 | | | 98,448 | | | $ | 1,237,664 | |
Reinvested | | 40,035 | | | | 502,843 | | | 41,086 | | | | 504,535 | | | 12,519 | | | | 153,732 | |
Redeemed | | (2,155,985 | ) | | | (27,702,830 | ) | | (2,834,329 | ) | | | (35,731,777 | ) | | (728,015 | ) | | | (9,171,182 | ) |
| | |
|
| |
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|
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|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (1,981,991 | ) | | | (25,479,808 | ) | | (2,288,189 | ) | | | (28,913,096 | ) | | (617,048 | ) | | | (7,779,786 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
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| |
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|
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| |
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| |
|
|
|
Net Increase/(Decrease) | | (1,981,991 | ) | | $ | (25,479,808 | ) | | (2,288,189 | ) | | $ | (28,913,096 | ) | | (617,048 | ) | | $ | (7,779,786 | ) |
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|
126
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
SMALL CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 2,195,380 | | | $ | 11,499,809 | | | 1,521,113 | | | $ | 7,042,374 | | | 3,301,876 | | | $ | 19,190,865 | |
Redeemed | | (368,336 | ) | | | (1,971,305 | ) | | (21,892 | ) | | | (145,944 | ) | | (684,627 | ) | | | (3,578,979 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 1,827,044 | | | | 9,528,504 | | | 1,499,221 | | | | 6,896,430 | | | 2,617,249 | | | | 15,611,886 | |
Conversion from Class B into Class A | | 6,116 | | | | 34,188 | | | (6,390 | ) | | | (34,188 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 1,833,160 | | | $ | 9,562,692 | | | 1,492,831 | | | $ | 6,862,242 | | | 2,617,249 | | | $ | 15,611,886 | |
| | |
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| |
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|
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|
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|
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| |
|
| |
|
|
|
MID-CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,840,530 | | | $ | 8,367,475 | | | 311,247 | | | $ | 1,382,274 | | | 484,092 | | | $ | 2,154,365 | |
Redeemed | | (1,392,069 | ) | | | (6,406,848 | ) | | (75,553 | ) | | | (339,019 | ) | | (2,203,787 | ) | | | (9,764,295 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 448,461 | | | | 1,960,627 | | | 235,694 | | | | 1,043,255 | | | (1,719,695 | ) | | | (7,609,930 | ) |
Conversion from Class B into Class A | | 2,133 | | | | 9,660 | | | (2,182 | ) | | | (9,660 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 450,594 | | | $ | 1,970,287 | | | 233,512 | | | $ | 1,033,595 | | | (1,719,695 | ) | | $ | (7,609,930 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MID CAP VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 788,399 | | | $ | 15,452,692 | | | 136,307 | | | $ | 2,529,641 | | | 387,615 | | | $ | 7,269,131 | |
Reinvested | | 92,981 | | | | 1,722,930 | | | 7,986 | | | | 142,787 | | | 356,992 | | | | 6,372,310 | |
Redeemed | | (588,135 | ) | | | (11,621,748 | ) | | (23,758 | ) | | | (461,129 | ) | | (962,832 | ) | | | (18,095,709 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 293,245 | | | | 5,553,874 | | | 120,535 | | | | 2,211,299 | | | (218,225 | ) | | | (4,454,268 | ) |
Conversion from Class B into Class A | | 1,910 | | | | 38,681 | | | (1,989 | ) | | | (38,681 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 295,155 | | | $ | 5,592,555 | | | 118,546 | | | $ | 2,172,618 | | | (218,225 | ) | | $ | (4,454,268 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
TECHNOLOGY: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 956,800 | | | $ | 2,594,595 | | | 90,803 | | | $ | 237,008 | | | 117,694 | | | $ | 310,732 | |
Redeemed | | (669,195 | ) | | | (1,829,720 | ) | | (32,982 | ) | | | (86,948 | ) | | (983,621 | ) | | | (2,583,134 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 287,605 | | | | 764,875 | | | 57,821 | | | | 150,060 | | | (865,927 | ) | | | (2,272,402 | ) |
Conversion from Class B into Class A | | 4,525 | | | | 12,308 | | | (4,698 | ) | | | (12,308 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 292,130 | | | $ | 777,183 | | | 53,123 | | | $ | 137,752 | | | (865,927 | ) | | $ | (2,272,402 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
HEALTH SCIENCES: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 359,276 | | | $ | 4,400,105 | | | 66,035 | | | $ | 781,531 | | | 49,241 | | | $ | 575,281 | |
Redeemed | | (99,140 | ) | | | (1,174,632 | ) | | (17,282 | ) | | | (242,729 | ) | | (139,229 | ) | | | (1,609,572 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 260,136 | | | | 3,225,473 | | | 48,753 | | | | 538,802 | | | (89,988 | ) | | | (1,034,291 | ) |
Conversion from Class B into Class A | | 4,649 | | | | 13,778 | | | (4,825 | ) | | | (13,778 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 264,785 | | | $ | 3,239,251 | | | 43,928 | | | $ | 525,024 | | | (89,988 | ) | | $ | (1,034,291 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MANAGED OTC: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 527,279 | | | $ | 1,394,087 | | | 231,562 | | | $ | 575,257 | | | 218,421 | | | $ | 559,968 | |
Redeemed | | (403,749 | ) | | | (1,068,351 | ) | | (241,588 | ) | | | (629,223 | ) | | (1,785,136 | ) | | | (4,592,306 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 123,530 | | | | 325,736 | | | (10,026 | ) | | | (53,966 | ) | | (1,566,715 | ) | | | (4,032,338 | ) |
Conversion from Class B into Class A | | 207 | | | | 573 | | | (212 | ) | | | (573 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 123,737 | | | $ | 326,309 | | | (10,238 | ) | | $ | (54,539 | ) | | (1,566,715 | ) | | $ | (4,032,338 | ) |
| | |
|
| |
|
|
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|
| |
|
|
| |
|
| |
|
|
|
CAPITAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,434,973 | | | $ | 21,140,891 | | | 373,816 | | | $ | 5,290,603 | | | 679,704 | | | $ | 9,660,684 | |
Redeemed | | (756,958 | ) | | | (11,275,079 | ) | | (51,741 | ) | | | (742,509 | ) | | (3,591,941 | ) | | | (51,104,127 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 678,015 | | | | 9,865,812 | | | 322,075 | | | | 4,548,094 | | | (2,912,237 | ) | | | (41,443,443 | ) |
Conversion from Class B into Class A | | 5,051 | | | | 78,298 | | | (5,247 | ) | | | (78,298 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 683,066 | | | $ | 9,944,110 | | | 316,828 | | | $ | 4,469,796 | | | (2,912,237 | ) | | $ | (41,443,443 | ) |
| | |
|
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|
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|
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|
|
|
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
SMALL CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,928,392 | | | $ | 6,691,923 | | | 5,443,416 | | | $ | 31,767,775 | | | 1,503,989 | | | $ | 4,199,894 | |
Redeemed | | (834,159 | ) | | | (4,471,436 | ) | | (1,270,203 | ) | | | (6,627,717 | ) | | (269,171 | ) | | | (1,402,458 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 1,094,233 | | | | 2,220,487 | | | 4,173,213 | | | | 25,140,058 | | | 1,234,818 | | | | 2,797,436 | |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 1,094,233 | | | $ | 2,220,487 | | | 4,173,213 | | | $ | 25,140,058 | | | 1,234,818 | | | $ | 2,797,436 | |
| | |
|
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|
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|
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|
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|
|
|
MID-CAP GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 181,141 | | | $ | 819,980 | | | 660,618 | | | $ | 2,940,137 | | | 124,542 | | | $ | 557,158 | |
Redeemed | | (3,946,048 | ) | | | (17,740,470 | ) | | (5,205,983 | ) | | | (23,160,141 | ) | | (1,054,621 | ) | | | (4,644,333 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (3,764,907 | ) | | | (16,920,490 | ) | | (4,545,365 | ) | | | (20,220,004 | ) | | (930,079 | ) | | | (4,087,175 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (3,764,907 | ) | | $ | (16,920,490 | ) | | (4,545,365 | ) | | $ | (20,220,004 | ) | | (930,079 | ) | | $ | (4,087,175 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MID CAP VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 183,538 | | | $ | 3,547,575 | | | 638,701 | | | $ | 12,027,462 | | | 129,564 | | | $ | 2,433,467 | |
Reinvested | | 367,808 | | | | 6,782,379 | | | 904,962 | | | | 16,153,566 | | | 176,016 | | | | 3,133,082 | |
Redeemed | | (1,620,680 | ) | | | (31,232,708 | ) | | (2,211,536 | ) | | | (41,715,526 | ) | | (423,011 | ) | | | (7,943,174 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (1,069,334 | ) | | | (20,902,754 | ) | | (667,873 | ) | | | (13,534,498 | ) | | (117,431 | ) | | | (2,376,625 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (1,069,334 | ) | | $ | (20,902,754 | ) | | (667,873 | ) | | $ | (13,534,498 | ) | | (117,431 | ) | | $ | (2,376,625 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
TECHNOLOGY: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 18,339 | | | $ | 49,314 | | | 50,060 | | | $ | 134,140 | | | 10,669 | | | $ | 28,107 | |
Redeemed | | (835,217 | ) | | | (2,285,139 | ) | | (1,133,160 | ) | | | (2,980,437 | ) | | (246,301 | ) | | | (648,830 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (816,878 | ) | | | (2,235,825 | ) | | (1,083,100 | ) | | | (2,846,297 | ) | | (235,632 | ) | | | (620,723 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (816,878 | ) | | $ | (2,235,825 | ) | | (1,083,100 | ) | | $ | (2,846,297 | ) | | (235,632 | ) | | $ | (620,723 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
HEALTH SCIENCES: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 19,634 | | | $ | 235,039 | | | 151,722 | | | $ | 1,770,145 | | | 11,682 | | | $ | 135,153 | |
Redeemed | | (171,677 | ) | | | (2,032,233 | ) | | (224,751 | ) | | | (2,629,328 | ) | | (41,737 | ) | | | (480,124 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (152,043 | ) | | | (1,797,194 | ) | | (73,029 | ) | | | (859,183 | ) | | (30,055 | ) | | | (344,971 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (152,043 | ) | | $ | (1,797,194 | ) | | (73,029 | ) | | $ | (859,183 | ) | | (30,055 | ) | | $ | (344,971 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
MANAGED OTC: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 122,482 | | | $ | 319,814 | | | 505,086 | | | $ | 1,326,578 | | | 141,295 | | | $ | 378,029 | |
Redeemed | | (1,112,597 | ) | | | (2,935,571 | ) | | (2,507,688 | ) | | | (6,532,170 | ) | | (410,122 | ) | | | (1,076,389 | ) |
| | |
|
| |
|
|
| |
|
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|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (990,115 | ) | | | (2,615,757 | ) | | (2,002,602 | ) | | | (5,205,592 | ) | | (268,827 | ) | | | (698,360 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
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|
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|
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| |
|
| |
|
|
|
Net Increase/(Decrease) | | (990,115 | ) | | $ | (2,615,757 | ) | | (2,002,602 | ) | | $ | (5,205,592 | ) | | (268,827 | ) | | $ | (698,360 | ) |
| | |
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|
CAPITAL GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 230,109 | | | $ | 3,351,268 | | | 745,504 | | | $ | 10,547,200 | | | 199,653 | | | $ | 2,838,004 | |
Redeemed | | (3,769,556 | ) | | | (55,064,330 | ) | | (6,207,302 | ) | | | (88,339,227 | ) | | (1,098,975 | ) | | | (15,556,249 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (3,539,447 | ) | | | (51,713,062 | ) | | (5,461,798 | ) | | | (77,792,027 | ) | | (899,322 | ) | | | (12,718,245 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
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| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (3,539,447 | ) | | $ | (51,713,062 | ) | | (5,461,798 | ) | | $ | (77,792,027 | ) | | (899,322 | ) | | $ | (12,718,245 | ) |
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127
| | | | | | | | | | | | | | | | | | | | | |
| | | CLASS A
| | | CLASS B
| | | CLASS C
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
CONCENTRATED GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 807,929 | | | $ | 9,328,743 | | | 252,796 | | | $ | 2,502,215 | | | 168,808 | | | $ | 1,669,985 | |
Redeemed | | (477,314 | ) | | | (5,516,812 | ) | | (56,229 | ) | | | (556,838 | ) | | (2,177,036 | ) | | | (21,573,820 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 330,615 | | | | 3,811,931 | | | 196,567 | | | | 1,945,377 | | | (2,008,228 | ) | | | (19,903,835 | ) |
Conversion from Class B into Class A | | 65 | | | | 750 | | | (76 | ) | | | (750 | ) | | — | | | | — | |
| | |
|
| |
|
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| |
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| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 330,680 | | | $ | 3,812,681 | | | 196,491 | | | $ | 1,944,627 | | | (2,008,228 | ) | | $ | (19,903,835 | ) |
| | |
|
| |
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|
CORE VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 242,808 | | | $ | 3,098,274 | | | 61,632 | | | $ | 781,681 | | | 204,051 | | | $ | 2,605,169 | |
Reinvested | | 6,748 | | | | 84,419 | | | 604 | | | | 7,563 | | | 20,523 | | | | 256,748 | |
Redeemed | | (113,046 | ) | | | (1,443,891 | ) | | (3,666 | ) | | | (46,975 | ) | | (337,631 | ) | | | (4,307,320 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 136,510 | | | | 1,738,802 | | | 58,570 | | | | 742,269 | | | (113,057 | ) | | | (1,445,403 | ) |
Conversion from Class B into Class A | | 1,514 | | | | 19,748 | | | (1,521 | ) | | | (19,748 | ) | | — | | | | — | |
| | |
|
| |
|
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| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 138,024 | | | $ | 1,758,550 | | | 57,049 | | | $ | 722,521 | | | (113,057 | ) | | $ | (1,445,403 | ) |
| | |
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|
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|
LARGE CAP CORE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,164,500 | | | $ | 11,376,095 | | | 247,968 | | | $ | 2,368,400 | | | 824,549 | | | $ | 7,496,115 | |
Redeemed | | (700,255 | ) | | | (6,610,683 | ) | | (55,640 | ) | | | (510,242 | ) | | (1,324,912 | ) | | | (12,098,955 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 464,245 | | | $ | 4,765,412 | | | 192,328 | | | $ | 1,858,158 | | | (500,363 | ) | | $ | (4,602,840 | ) |
| | |
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| |
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|
| |
|
|
|
EQUITY INCOME: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,016,385 | | | $ | 13,996,550 | | | 163,312 | | | $ | 2,188,574 | | | 1,546,648 | | | $ | 20,439,887 | |
Reinvested | | 6,975 | | | | 96,464 | | | 71 | | | | 961 | | | 2,525 | | | | 34,168 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Redeemed | | (658,544 | ) | | | (9,122,736 | ) | | (21,577 | ) | | | (292,954 | ) | | (921,495 | ) | | | (12,438,135 | ) |
Net Increase/(Decrease) before Conversion | | 364,816 | | | | 4,970,278 | | | 141,806 | | | | 1,896,581 | | | 627,678 | | | | 8,035,920 | |
Conversion from Class B into Class A | | 479 | | | | 6,768 | | | (490 | ) | | | (6,768 | ) | | — | | | | — | |
| | |
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| |
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| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 365,295 | | | $ | 4,977,046 | | | 141,316 | | | $ | 1,889,813 | | | 627,678 | | | $ | 8,035,920 | |
| | |
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|
| |
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| |
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| |
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|
|
BALANCED: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 502,705 | | | $ | 6,627,496 | | | 116,105 | | | $ | 1,518,703 | | | 100,606 | | | $ | 1,323,750 | |
Reinvested | | 5,387 | | | | 71,113 | | | 669 | | | | 8,840 | | | 7,617 | | | | 100,359 | |
Redeemed | | (174,296 | ) | | | (2,296,824 | ) | | (20,610 | ) | | | (271,437 | ) | | (519,177 | ) | | | (6,822,925 | ) |
| | |
|
| |
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| |
|
| |
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|
| |
|
| |
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|
|
Net Increase/(Decrease) before Conversion | | 333,796 | | | | 4,401,785 | | | 96,164 | | | | 1,256,106 | | | (410,954 | ) | | | (5,398,816 | ) |
Conversion from Class B into Class A | | 1,902 | | | | 25,069 | | | (1,906 | ) | | | (25,069 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 335,698 | | | $ | 4,426,854 | | | 94,258 | | | $ | 1,231,037 | | | (410,954 | ) | | $ | (5,398,816 | ) |
| | |
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| |
|
|
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| |
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|
|
HIGH YIELD BOND: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,266,984 | | | $ | 9,351,988 | | | 214,501 | | | $ | 1,589,584 | | | 747,611 | | | $ | 5,485,186 | |
Reinvested | | 67,114 | | | | 496,867 | | | 7,613 | | | | 55,768 | | | 144,217 | | | | 1,065,632 | |
Redeemed | | (1,409,600 | ) | | | (10,329,212 | ) | | (45,319 | ) | | | (332,955 | ) | | (2,386,334 | ) | | | (17,631,255 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (75,502 | ) | | | (480,357 | ) | | 176,795 | | | | 1,312,397 | | | (1,494,506 | ) | | | (11,080,437 | ) |
Conversion from Class B into Class A | | 3,378 | | | | 24,908 | | | (3,382 | ) | | | (24,908 | ) | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (72,124 | ) | | $ | (455,449 | ) | | 173,413 | | | $ | 1,287,489 | | | (1,494,506 | ) | | $ | (11,080,437 | ) |
| | |
|
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|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
CONCENTRATED GROWTH: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 9,880 | | | $ | 115,110 | | | 51,692 | | | $ | 518,050 | | | 17,043 | | | $ | 171,223 | |
Redeemed | | (2,210,745 | ) | | | (25,486,536 | ) | | (7,062,665 | ) | | | (70,121,999 | ) | | (1,075,766 | ) | | | (10,691,010 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (2,200,865 | ) | | | (25,371,426 | ) | | (7,010,973 | ) | | | (69,603,949 | ) | | (1,058,723 | ) | | | (10,519,787 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (2,200,865 | ) | | $ | (25,371,426 | ) | | (7,010,973 | ) | | $ | (69,603,949 | ) | | (1,058,723 | ) | | $ | (10,519,787 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
CORE VALUE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 91,147 | | | $ | 1,153,356 | | | 403,499 | | | $ | 5,136,882 | | | 134,409 | | | $ | 1,707,851 | |
Reinvested | | 20,365 | | | | 254,769 | | | 39,678 | | | | 496,372 | | | 8,755 | | | | 109,613 | |
Redeemed | | (261,230 | ) | | | (3,329,327 | ) | | (572,328 | ) | | | (7,341,694 | ) | | (158,358 | ) | | | (2,030,974 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (149,718 | ) | | | (1,921,202 | ) | | (129,151 | ) | | | (1,708,440 | ) | | (15,194 | ) | | | (213,510 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (149,718 | ) | | $ | (1,921,202 | ) | | (129,151 | ) | | $ | (1,708,440 | ) | | (15,194 | ) | | $ | (213,510 | ) |
| | |
|
| |
|
|
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|
| |
|
|
| |
|
| |
|
|
|
LARGE CAP CORE: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 696,238 | | | $ | 5,985,019 | | | 2,142,153 | | | $ | 20,155,199 | | | 396,300 | | | $ | 3,598,485 | |
Redeemed | | (1,253,136 | ) | | | (11,789,245 | ) | | (3,169,245 | ) | | | (29,003,478 | ) | | (286,674 | ) | | | (2,615,174 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (556,898 | ) | | $ | (5,804,226 | ) | | (1,027,092 | ) | | $ | (8,848,279 | ) | | 109,626 | | | $ | 983,311 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
EQUITY INCOME: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 1,350,811 | | | $ | 18,283,904 | | | 4,255,327 | | | $ | 56,360,024 | | | 1,293,533 | | | $ | 17,091,926 | |
Reinvested | | 19,535 | | | | 270,174 | | | 6,297 | | | | 85,324 | | | 1,755 | | | | 23,749 | |
Redeemed | | (1,272,716 | ) | | | (17,625,621 | ) | | (2,444,257 | ) | | | (33,014,820 | ) | | (529,193 | ) | | | (7,120,043 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | 97,630 | | | | 928,457 | | | 1,817,367 | | | | 23,430,528 | | | 766,095 | | | | 9,995,632 | |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 97,630 | | | $ | 928,457 | | | 1,817,367 | | | $ | 23,430,528 | | | 766,095 | | | $ | 9,995,632 | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
BALANCED: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 54,676 | | | $ | 713,289 | | | 282,142 | | | $ | 3,682,163 | | | 58,296 | | | $ | 765,990 | |
Reinvested | | 17,328 | | | | 228,515 | | | 28,379 | | | | 374,163 | | | 7,017 | | | | 92,426 | |
Redeemed | | (716,146 | ) | | | (9,434,322 | ) | | (1,570,329 | ) | | | (20,608,129 | ) | | (349,449 | ) | | | (4,581,750 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (644,142 | ) | | | (8,492,518 | ) | | (1,259,808 | ) | | | (16,551,803 | ) | | (284,136 | ) | | | (3,723,334 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (644,142 | ) | | $ | (8,492,518 | ) | | (1,259,808 | ) | | $ | (16,551,803 | ) | | (284,136 | ) | | $ | (3,723,334 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
HIGH YIELD BOND: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 287,108 | | | $ | 2,135,648 | | | 1,944,542 | | | $ | 14,420,806 | | | 353,039 | | | $ | 2,616,692 | |
Reinvested | | 117,688 | | | | 869,354 | | | 456,651 | | | | 3,366,446 | | | 100,084 | | | | 737,506 | |
Redeemed | | (1,787,750 | ) | | | (13,215,810 | ) | | (6,914,498 | ) | | | (51,090,595 | ) | | (896,567 | ) | | | (6,650,587 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) before Conversion | | (1,382,954 | ) | | | (10,210,808 | ) | | (4,513,305 | ) | | | (33,303,343 | ) | | (443,444 | ) | | | (3,296,389 | ) |
Conversion from Class B into Class A | | — | | | | — | | | — | | | | — | | | — | | | | — | |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (1,382,954 | ) | | $ | (10,210,808 | ) | | (4,513,305 | ) | | $ | (33,303,343 | ) | | (443,444 | ) | | $ | (3,296,389 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS A
| | | CLASS C
| | | CLASS D
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MONEY MARKET: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 55,097 | | | $ | 55,097 | | | 1,230,128 | | | $ | 1,230,128 | | | 5,389,855 | | | $ | 5,389,855 | |
Reinvested | | 140 | | | | 140 | | | 92,464 | | | | 92,464 | | | 143,713 | | | | 143,713 | |
Redeemed | | (22,515 | ) | | | (22,515 | ) | | (11,061,205 | ) | | | (11,061,217 | ) | | (8,493,037 | ) | | | (8,493,575 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | 32,722 | | | $ | 32,722 | | | (9,738,613 | ) | | $ | (9,738,625 | ) | | (2,959,469 | ) | | $ | (2,960,007 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
| | | |
| | | CLASS L
| | | CLASS M
| | | CLASS X
| |
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| | | SHARES
| | | AMOUNT
| |
MONEY MARKET: | | | | | | | | | | | | | | | | | | | | | |
Sold | | 11,887,327 | | | $ | 11,887,327 | | | 43,018,513 | | | $ | 43,018,513 | | | 13,200,636 | | | $ | 13,200,636 | |
Reinvested | | 352,300 | | | | 352,300 | | | 489,858 | | | | 489,859 | | | 109,688 | | | | 109,689 | |
Redeemed | | (35,857,788 | ) | | | (35,857,789 | ) | | (62,533,193 | ) | | | (62,533,195 | ) | | (16,373,810 | ) | | | (16,373,810 | ) |
| | |
|
| |
|
|
| |
|
| |
|
|
| |
|
| |
|
|
|
Net Increase/(Decrease) | | (23,618,161 | ) | | $ | (23,618,162 | ) | | (19,024,822 | ) | | $ | (19,024,823 | ) | | (3,063,486 | ) | | $ | (3,063,485 | ) |
| | |
|
| |
|
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| |
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|
|
| |
|
| |
|
|
|
128
5. Taxation
Each Fund intends to qualify as a regulated investment company under the Internal Revenue Code and to distribute all of its taxable income, including any net realized gains on investments, to shareholders. Accordingly, no provision for federal income or excise tax has been made.
At October 31, 2005, the following funds had, for federal income tax purposes, capital loss carryfor-wards available to offset future net realized capital gains. However, it is uncertain whether the Fund will be able to realize the full benefit prior to the expiration date.
| | | | | | | | | | | | | | | | | | | | | |
| | | EXPIRING OCTOBER 31,
|
| | | 2007
| | 2008
| | 2009
| | 2010
| | 2011
| | 2012
| | 2013
|
International Growth | | $ | 4,869,179 | | $ | 15,642,599 | | $ | 72,355,840 | | $ | 50,162,120 | | $ | 15,797,152 | | | — | | | — |
Small Cap Growth | | | 6,234,691 | | | 86,335,732 | | | 31,576,598 | | | 4,130,192 | | | — | | | — | | | — |
Mid-Cap Growth | | | — | | | 88,196,520 | | | 61,020,585 | | | 3,486,677 | | | 1,026,620 | | | — | | | — |
Mid Cap Value | | | — | | | — | | | — | | | 2,115,059 | | | — | | | — | | | — |
Technology | | | — | | | — | | | 16,299,417 | | | 17,782,577 | | | 6,709,869 | | $ | 52,275 | | | — |
Managed OTC | | | — | | | 1,097,897 | | | 13,155,667 | | | 12,453,037 | | | 4,038,335 | | | 4,246,151 | | $ | 566,946 |
Capital Growth | | | — | | | 15,284,085 | | | 83,527,795 | | | 81,004,983 | | | — | | | — | | | — |
Concentrated Growth | | | 19,361,142 | | | 304,073,150 | | | 384,441,491 | | | 201,055,611 | | | 82,009,725 | | | — | | | — |
Large Cap Core | | | — | | | 3,166,091 | | | 8,111,926 | | | 12,032,779 | | | 8,971,027 | | | 329,206 | | | — |
Equity Income | | | — | | | — | | | 19,147,340 | | | 15,133,362 | | | 10,532,980 | | | — | | | — |
Balanced | | | — | | | — | | | — | | | 1,737,156 | | | 3,468,656 | | | — | | | — |
High Yield Bond | | | — | | | — | | | 8,901,916 | | | 18,610,007 | | | 6,554,905 | | | — | | | — |
Money Market | | | — | | | — | | | — | | | — | | | — | | | — | | | 15,463 |
At April 30, 2006, the cost and unrealized appreciation or depreciation in value of the investments for federal income tax purposes, were as follows:
| | | | | | | | | | | | | |
| | | TAX BASIS
| | GROSS
UNREALIZED
APPRECIATION
| | GROSS
UNREALIZED
(DEPRECIATION)
| | | NET
UNREALIZED
APPRECIATION
(DEPRECIATION)
|
International Growth | | $ | 197,820,100 | | $ | 83,466,284 | | $ | (382,241 | ) | | $ | 83,084,043 |
Small Cap Growth | | | 95,605,595 | | | 17,508,253 | | | (2,020,704 | ) | | | 15,487,549 |
Mid-Cap Growth | | | 141,559,879 | | | 26,978,962 | | | (3,851,317 | ) | | | 23,127,645 |
Mid Cap Value | | | 418,038,906 | | | 89,715,014 | | | (10,382,409 | ) | | | 79,332,605 |
Technology | | | 11,847,478 | | | 3,521,430 | | | (92,567 | ) | | | 3,428,863 |
Managed OTC | | | 20,395,566 | | | 3,971,911 | | | (451,552 | ) | | | 3,520,359 |
Capital Growth | | | 531,787,958 | | | 179,365,013 | | | (3,370,093 | ) | | | 175,994,920 |
Concentrated Growth | | | 262,759,251 | | | 63,107,501 | | | (11,963,802 | ) | | | 51,143,699 |
Core Value | | | 36,702,242 | | | 11,798,702 | | | (1,582,315 | ) | | | 10,216,387 |
Large Cap Core | | | 118,276,961 | | | 29,766,615 | | | (4,802,659 | ) | | | 24,963,956 |
Equity Income | | | 259,392,566 | | | 51,840,107 | | | (3,978,309 | ) | | | 47,861,798 |
Balanced | | | 96,000,050 | | | 9,996,922 | | | (1,178,835 | ) | | | 8,818,087 |
High Yield Bond | | | 122,880,738 | | | 3,802,443 | | | (2,147,243 | ) | | | 1,655,200 |
129
The differences between book and tax basis of investments are primarily attributable to deferred losses on wash sales and straddles, as well as tax adjustment on investments in Passive Foreign Investment Companies, Real Estate Investments Trusts, foreign exchange contracts, and other temporary differences.
6. Portfolio Securities
Purchases and sales of securities, other than U.S. government securities and short-term obligations, during the six months ended April 30, 2006, were as follows:
| | | | | | |
| | | PURCHASES
| | SALES
|
International Growth | | $ | 102,435,651 | | $ | 127,114,672 |
Small Cap Growth | | | 97,589,647 | | | 115,392,987 |
Mid-Cap Growth | | | 41,541,796 | | | 61,182,919 |
Mid Cap Value | | | 206,444,924 | | | 249,402,348 |
Technology | | | 4,347,591 | | | 6,358,751 |
Managed OTC | | | 2,734,559 | | | 6,106,848 |
Capital Growth | | | 183,665,347 | | | 248,614,727 |
Concentrated Growth | | | 84,853,531 | | | 129,921,833 |
Core Value | | | 3,994,584 | | | 9,191,186 |
Large Cap Core | | | 25,728,906 | | | 44,374,712 |
Equity Income | | | 69,232,673 | | | 112,174,572 |
Balanced | | | 43,269,190 | | | 55,743,913 |
High Yield Bond | | | 47,264,050 | | | 55,685,454 |
Purchases and sales of U.S. government securities, during the six months ended April 30, 2006 were as follows:
| | | | | | |
| | | PURCHASES
| | SALES
|
Balanced | | $ | 45,418,893 | | $ | 45,415,065 |
7. Line of Credit
The Funds and other affiliated funds participated in a $500 million unsecured, committed line of credit, provided by PNC Bank and The Bank of New York, under a line of credit agreement (“SCA”). Under the terms, borrowings may be made for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. Any borrowings must be repaid within 30 days of their receipt. Interest is charged to each Fund, based on its borrowings, at a premium above the Federal Funds Rate. In addition, a commitment fee, equal to an annual rate of 0.0725 of 1% of the average daily unused portion of the line of credit, is allocated among the participants at the end of each quarter. The expiration date of the SCA will be October 27, 2006.
The following table summarizes the borrowing that occurred during the six months ended April 30, 2006:
| | | | | | | | |
| | | Average Loan
Outstanding During
the Borrowing Period
| | Average
Interest
Rate
| | | Number of Days
Outstanding
|
International Growth | | $ | 3,115,625 | | 4.862 | % | | 32 |
Mid-Cap Growth | | | 1,000,000 | | 5.220 | % | | 1 |
Capital Growth | | | 1,400,000 | | 4.940 | % | | 1 |
Concentrated Growth | | | 700,000 | | 5.240 | % | | 1 |
Large Cap Core | | | 671,429 | | 4.847 | % | | 14 |
Equity Income | | | 566,667 | | 5.004 | % | | 6 |
130
8. Reorganizations
Based on an approval by the shareholders on September 21, 2005 of an Agreement and Plan of Reorganization (the “Plan”) which provided for the transfer of the net assets of the Class A, B, C, and Z shares of Strategic Partners Opportunity Funds - Mid Cap Value Fund for like shares of Strategic Partners Mid Cap Value. A reorganization took place on November 25, 2005.
The reorganization was accomplished by a tax-free exchange of the following shares:
| | |
| Merged Fund |
Strategic Partners Opportunity Funds – Mid Cap Value Fund
|
| | | Shares
|
Class A | | 1,678,233 |
B | | 4,413,301 |
C | | 3,235,587 |
Z | | 1,213,367 |
| | | | | |
Acquiring Fund
|
Strategic Partners Mid Cap Value (formerly known as Strategic Partners Relative Value Fund)
|
| | | Shares
| | Value
|
Class A | | 1,202,819 | | $ | 20,965,128 |
B | | 3,240,103 | | | 53,526,504 |
C | | 2,378,032 | | | 39,237,531 |
Z | | 876,999 | | | 15,286,100 |
The aggregate net assets and unrealized appreciation of the Merged Fund immediately before the acquisitions and the acquired capital loss carryforwards from the merged funds were as follows:
| | | | | | |
Merged Fund
| | Total Net Assets
| | Net
Unrealized
Appreciation
(Depreciation)
|
| Strategic Partners Opportunity Funds – Mid Cap Value Fund | | $ | 129,015,263 | | $ | 25,786,234 |
Pursuant to the approval by the shareholders of the Strategic Partners Managed OTC Fund and Strategic Partners Technology Fund, the Managed OTC Fund and the Technology Fund were acquired by Jennison U.S. Emerging Growth Fund.
The following reorganizations occurred in the fiscal year ended October 31, 2005.
On May 26, 2004, September 1, 2004, November 16, 2004, and March 3, 2005 the Board of Directors of the Company approved an Agreement and Plan of Reorganization (the “Plan”) which provided for the transfer of all the assets of the Class A, B, C, L, M, and X shares of the following funds for like shares of the acquiring funds and the assumption of liabilities of the funds.
Shareholders approved the Plan at a meeting on September 12, 2005 and September 21, 2005, respectively, and the reorganization took place on September 19, 2005 and October 21, 2005.
The acquisition was accomplished by a tax-free exchange of the following shares:
| | |
| Merged Fund |
Strategic Partners Growth with Income Fund
|
| | | Shares
|
Class A | | 274,249 |
B | | 58,513 |
C | | 564,873 |
L | | 642,595 |
M | | 1,760,097 |
X | | 271,891 |
| | | | | |
| Acquiring Fund |
Strategic Partners Large Cap Core Fund
|
| | | Shares
| | Value
|
Class A | | 267,683 | | $ | 2,575,009 |
B | | 57,067 | | | 531,862 |
C | | 551,481 | | | 5,134,285 |
L | | 628,081 | | | 6,010,738 |
M | | 1,719,203 | | | 16,005,784 |
X | | 265,905 | | | 2,470,261 |
131
| | |
| Merged Fund |
Strategic Partners Capital Income Fund
|
| | | Shares
|
Class A | | 370,023 |
B | | 58,578 |
C | | 1,490,034 |
L | | 1,428,527 |
M | | 4,262,977 |
X | | 1,310,026 |
| | |
Strategic Partners Small Cap Growth Opportunity Fund
|
| | | Shares
|
Class A | | 412,547 |
B | | 72,565 |
C | | 1,023,758 |
L | | 920,866 |
M | | 2,709,038 |
X | | 746,657 |
| | |
Strategic Partners Style Specific Small Cap Growth Fund
|
| | | Shares
|
Class A | | 516,485 |
B | | 824,390 |
C | | 772,936 |
| | | | | |
| Acquiring Fund |
Strategic Partners Equity Income Fund
|
| | | Shares
| | Value
|
Class A | | 346,123 | | $ | 4,700,355 |
B | | 56,058 | | | 741,088 |
C | | 1,427,946 | | | 18,848,884 |
L | | 1,336,240 | | | 18,106,047 |
M | | 4,080,250 | | | 53,940,907 |
X | | 1,254,527 | | | 16,559,761 |
| | | | | |
Strategic Partners Small Cap Growth Fund
|
| | | Shares
| | Value
|
Class A | | 818,947 | | $ | 4,250,337 |
B | | 143,885 | | | 713,669 |
C | | 2,013,152 | | | 10,065,759 |
L | | 1,829,864 | | | 9,423,800 |
M | | 5,324,326 | | | 26,621,628 |
X | | 1,464,618 | | | 7,337,737 |
| | | | | |
Strategic Partners Small Cap Growth Fund
|
| | | Shares
| | Value
|
Class A | | 819,615 | | $ | 4,253,800 |
B | | 1,312,947 | | | 6,512,216 |
C | | 1,220,168 | | | 6,100,838 |
The aggregate net assets and unrealized appreciation of the Merged Funds immediately before the acquisitions and the acquired capital loss carryforwards from the merged funds were as follows:
| | | | | | | | | | |
| | | TOTAL NET ASSETS
| | UNREALIZED
APPRECIATION/
(DEPRECIATION)
| | | CAPITAL LOSS
CARRYFORWARDS*
|
Merged Funds | | | | | | | | | | |
Strategic Partners Growth with Income Fund | | $ | 32,727,939 | | $ | 5,803,180 | | | $ | 11,844,388 |
Strategic Partners Capital Income Fund | | | 112,897,042 | | | 5,399,053 | | | | 32,333,071 |
Strategic Partners Small Cap Growth Opportunity Fund | | | 58,412,930 | | | (658,303 | ) | | | 117,767,066 |
Strategic Partners Style Specific Small Cap Growth Fund | | | 16,868,950 | | | 1,585,911 | | | | 6,165,904 |
| | | |
Acquiring Funds | | | | | | | | | | |
Strategic Partners Large Cap Core Fund | | $ | 129,332,669 | | | | | | | |
Strategic Partners Equity Income Fund | | | 183,397,101 | | | | | | | |
Strategic Partners Small Cap Growth Fund | | | 33,145,223 | | | | | | | |
| * | The future utilization of the acquired capital loss carry forwards may be limited under certain conditions defined in the Internal Revenue Code of 1986, as amended. |
132
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class A
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended
October 31, 2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.68 | | | $ | 11.87 | | | $ | 12.13 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.01 | ) | | | (0.03 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.41 | | | | 1.97 | | | | (0.21 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.36 | | | | 1.96 | | | | (0.24 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.15 | ) | | | (0.02 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.15 | ) | | | (0.02 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 17.04 | | | $ | 13.68 | | | $ | 11.87 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.56 | % | | | 16.76 | % | | | (2.09 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 24.4 | | | $ | 15.8 | | | $ | 10.7 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.86 | % (b) | | | 1.85 | % | | | 1.85 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.10 | % | | | 2.12 | % (b) |
Net investment loss | | | (0.56 | )% (b) | | | (0.18 | )% | | | (0.55 | )% (b) |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
133
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class B
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended
October 31, 2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.29 | | | $ | 11.53 | | | $ | 11.82 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.10 | ) | | | (0.07 | ) | | | (0.08 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.30 | | | | 1.88 | | | | (0.21 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.20 | | | | 1.81 | | | | (0.29 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.05 | ) | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.05 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.49 | | | $ | 13.29 | | | $ | 11.53 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.08 | % | | | 15.87 | % | | | (2.54 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 4.3 | | | $ | 2.6 | | | $ | 1.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.61 | % (b) | | | 2.60 | % | | | 2.60 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.76 | % (b) | | | 2.85 | % | | | 2.87 | % (b) |
Net investment loss | | | (1.31 | )% (b) | | | (0.96 | )% | | | (1.34 | )% (b) |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
134
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.32 | | | $ | 11.55 | | | $ | 10.50 | | | $ | 8.08 | | | $ | 9.79 | | | $ | 17.06 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.14 | ) | | | (0.20 | ) | | | (0.13 | ) | | | (0.08 | ) | | | (0.05 | ) | | | (0.18 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.36 | | | | 2.02 | | | | 1.18 | | | | 2.50 | | | | (1.66 | ) | | | (6.62 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.22 | | | | 1.82 | | | | 1.05 | | | | 2.42 | | | | (1.71 | ) | | | (6.80 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.54 | | | $ | 13.32 | | | $ | 11.55 | | | $ | 10.50 | | | $ | 8.08 | | | $ | 9.79 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.17 | % | | | 15.93 | % | | | 9.91 | % | | | 29.95 | % | | | (17.47 | )% | | | (40.76 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 54.1 | | | $ | 48.3 | | | $ | 55.4 | | | $ | 34.3 | | | $ | 32.4 | | | $ | 56.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.61 | % (b) | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.56 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.76 | % (b) | | | 2.85 | % | | | 2.87 | % | | | 2.86 | % | | | 2.88 | % | | | 2.66 | % (e) |
Net investment loss | | | (1.36 | )% (b) | | | (0.97 | )% | | | (1.16 | )% | | | (0.94 | )% | | | (0.48 | )% | | | (1.13 | )% |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % | | | 126 | % | | | 56 | % | | | 69 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
135
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.65 | | | $ | 11.84 | | | $ | 10.72 | | | $ | 8.21 | | | $ | 9.90 | | | $ | 17.27 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | (0.10 | ) | | | (0.19 | ) | | | (0.08 | ) | | | (0.04 | ) | | | — | * | | | (0.13 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.43 | | | | 2.12 | | | | 1.22 | | | | 2.55 | | | | (1.69 | ) | | | (6.67 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.33 | | | | 1.93 | | | | 1.14 | | | | 2.51 | | | | (1.69 | ) | | | (6.80 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.12 | ) | | | (0.02 | ) | | | — | | | | — | | | | (0.57 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.12 | ) | | | (0.02 | ) | | | — | | | | — | | | | (0.57 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.98 | | | $ | 13.65 | | | $ | 11.84 | | | $ | 10.72 | | | $ | 8.21 | | | $ | 9.90 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.40 | % | | | 16.52 | % | | | 10.00 | % | | | 30.57 | % | | | (17.07 | )% | | | (40.46 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 44.9 | | | $ | 40.8 | | | $ | 58.9 | | | $ | 31.8 | | | $ | 31.5 | | | $ | 57.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.11 | %(b) | | | 2.10 | % | | | 2.10 | % | | | 2.10 | % | | | 2.10 | % | | | 2.06 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.26 | % (b) | | | 2.35 | % | | | 2.37 | % | | | 2.36 | % | | | 2.37 | % | | | 2.16 | % (f) |
Net investment income (loss) | | | (0.86 | )% (b) | | | (0.47 | )% | | | (0.66 | )% | | | (0.41 | )% | | | 0.03 | % | | | (0.64 | )% |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % | | | 126 | % | | | 56 | % | | | 69 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
136
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.29 | | | $ | 11.52 | | | $ | 10.48 | | | $ | 8.06 | | | $ | 9.77 | | | $ | 17.03 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.14 | ) | | | (0.19 | ) | | | (0.13 | ) | | | (0.08 | ) | | | (0.05 | ) | | | (0.17 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.34 | | | | 2.01 | | | | 1.17 | | | | 2.50 | | | | (1.66 | ) | | | (6.62 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.20 | | | | 1.82 | | | | 1.04 | | | | 2.42 | | | | (1.71 | ) | | | (6.79 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.49 | | | $ | 13.29 | | | $ | 11.52 | | | $ | 10.48 | | | $ | 8.06 | | | $ | 9.77 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.08 | % | | | 15.87 | % | | | 9.92 | % | | | 30.02 | % | | | (17.50 | )% | | | (40.78 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 116.6 | | | $ | 106.5 | | | $ | 118.7 | | | $ | 68.3 | | | $ | 65.3 | | | $ | 107.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.61 | % (b) | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.56 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.76 | % (b) | | | 2.85 | % | | | 2.87 | % | | | 2.86 | % | | | 2.88 | % | | | 2.66 | % (f) |
Net investment loss | | | (1.36 | )% (b) | | | (0.97 | )% | | | (1.16 | )% | | | (0.95 | )% | | | (0.47 | )% | | | (1.13 | )% |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % | | | 126 | % | | | 56 | % | | | 69 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
137
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners International Growth Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.30 | | | $ | 11.53 | | | $ | 10.48 | | | $ | 8.06 | | | $ | 9.77 | | | $ | 17.03 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.14 | ) | | | (0.19 | ) | | | (0.13 | ) | | | (0.08 | ) | | | (0.05 | ) | | | (0.15 | ) |
Net realized and unrealized gain (loss) on investments | | | 3.34 | | | | 2.01 | | | | 1.18 | | | | 2.50 | | | | (1.66 | ) | | | (6.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 3.20 | | | | 1.82 | | | | 1.05 | | | | 2.42 | | | | (1.71 | ) | | | (6.79 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.05 | ) | | | — | | | | — | | | | — | | | | (0.47 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.50 | | | $ | 13.30 | | | $ | 11.53 | | | $ | 10.48 | | | $ | 8.06 | | | $ | 9.77 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 24.06 | % | | | 15.96 | % | | | 10.02 | % (e) | | | 30.02 | % (e) | | | (17.50 | )% (e) | | | (40.79 | )% (e) |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 34.4 | | | $ | 31.5 | | | $ | 34.5 | | | $ | 20.5 | | | $ | 18.0 | | | $ | 27.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.61 | % (b) | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.60 | % | | | 2.56 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.76 | % (b) | | | 2.85 | % | | | 2.87 | % | | | 2.86 | % | | | 2.88 | % | | | 2.66 | % (f) |
Net investment loss | | | (1.36 | )% (b) | | | (0.97 | )% | | | (1.16 | )% | | | (0.95 | )% | | | (0.48 | )% | | | (1.13 | )% |
Portfolio turnover rate | | | 39 | % (c) | | | 89 | % | | | 87 | % | | | 126 | % | | | 56 | % | | | 69 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
138
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class A
| |
| | | Six Months
Ended April
30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.28 | | | $ | 5.12 | | | $ | 5.61 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.04 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.87 | | | | 0.20 | | | | (0.47 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.84 | | | | 0.16 | | | | (0.49 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 6.01 | | | $ | 5.28 | | | $ | 5.12 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 16.05 | % | | | 3.13 | % | | | (8.73 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 14.2 | | | $ | 11.8 | | | $ | 2.1 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.55 | % (b) | | | 1.65 | % | | | 1.65 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.69 | % (b) | | | 2.70 | % | | | 2.36 | % (b) |
Net investment loss | | | (1.11 | )% (b) | | | (1.19 | )% | | | (1.23 | )% (b) |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
139
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class B
| |
| | | Six Months
Ended April
30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.05 | | | $ | 4.93 | | | $ | 5.49 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.06 | ) | | | (0.03 | ) | | | (0.03 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.84 | | | | 0.15 | | | | (0.53 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.78 | | | | 0.12 | | | | (0.56 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.72 | | | $ | 5.05 | | | $ | 4.93 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 15.59 | % | | | 2.43 | % | | | (10.20 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 8.5 | | | $ | 7.8 | | | $ | 0.3 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.40 | % | | | 2.40 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.44 | % (b) | | | 3.45 | % | | | 3.11 | % (b) |
Net investment loss | | | (1.86 | )% (b) | | | (1.97 | )% | | | (2.01 | )% (b) |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
140
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class C
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.09 | | | $ | 4.97 | | | $ | 4.97 | | | $ | 3.46 | | | $ | 4.55 | | | $ | 8.04 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.06 | ) | | | (0.03 | ) | | | (0.13 | ) | | | (0.06 | ) | | | (0.08 | ) | | | (0.10 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.85 | | | | 0.15 | | | | 0.13 | | | | 1.57 | | | | (1.01 | ) | | | (3.39 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.79 | | | | 0.12 | | | | — | | | | 1.51 | | | | (1.09 | ) | | | (3.49 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.77 | | | $ | 5.09 | | | $ | 4.97 | | | $ | 4.97 | | | $ | 3.46 | | | $ | 4.55 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 15.66 | % | | | 2.41 | % | | | 0.00 | % | | | 43.64 | % | | | (23.96 | )% | | | 43.41 | % |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 21.6 | | | $ | 22.0 | | | $ | 8.5 | | | $ | 11.6 | | | $ | 8.1 | | | $ | 11.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.36 | % | | | 2.30 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.44 | % (b) | | | 3.45 | % | | | 3.11 | % | | | 3.11 | % | | | 3.15 | % | | | 3.13 | % (e) |
Net investment loss | | | (1.86 | )% (b) | | | (1.95 | )% | | | (2.04 | )% | | | (1.55 | )% | | | (1.78 | )% | | | (1.76 | )% |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % | | | 203 | % | | | 309 | % | | | 110 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
141
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class L (e)
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.24 | | | $ | 5.09 | | | $ | 5.06 | | | $ | 3.51 | | | $ | 4.59 | | | $ | 8.08 | |
| | |
|
|
| |
|
|
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|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.04 | ) | | | (0.05 | ) | | | (0.10 | ) | | | (0.04 | ) | | | (0.06 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.87 | | | | 0.20 | | | | 0.13 | | | | 1.59 | | | | (1.02 | ) | | | (3.42 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.83 | | | | 0.15 | | | | 0.03 | | | | 1.55 | | | | (1.08 | ) | | | (3.49 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.96 | | | $ | 5.24 | | | $ | 5.09 | | | $ | 5.06 | | | $ | 3.51 | | | $ | 4.59 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 15.98 | % | | | 2.95 | % | | | 0.59 | % | | | 44.16 | % | | | (23.53 | )% | | | (43.19 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 16.2 | | | $ | 16.6 | | | $ | 10.5 | | | $ | 15.3 | | | $ | 10.5 | | | $ | 17.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.80 | % (b) | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % | | | 1.86 | % | | | 1.80 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.94 | % (b) | | | 2.95 | % | | | 2.61 | % | | | 2.60 | % | | | 2.64 | % | | | 2.65 | % (f) |
Net investment loss | | | (1.36 | )% (b) | | | (1.44 | )% | | | (1.53 | )% | | | (1.05 | )% | | | (1.29 | )% | | | (1.24 | )% |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % | | | 203 | % | | | 309 | % | | | 110 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
142
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class M (e)
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.09 | | | $ | 4.97 | | | $ | 4.96 | | | $ | 3.46 | | | $ | 4.54 | | | $ | 8.04 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.06 | ) | | | (0.04 | ) | | | (0.12 | ) | | | (0.06 | ) | | | (0.08 | ) | | | (0.10 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.85 | | | | 0.16 | | | | 0.13 | | | | 1.56 | | | | (1.00 | ) | | | (3.40 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.79 | | | | 0.12 | | | | 0.01 | | | | 1.50 | | | | (1.08 | ) | | | (3.50 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.77 | | | $ | 5.09 | | | $ | 4.97 | | | $ | 4.96 | | | $ | 3.46 | | | $ | 4.54 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 15.66 | % | | | 2.41 | % | | | 0.20 | % | | | 43.35 | % | | | (23.79 | )% | | | (43.53 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 40.6 | | | $ | 41.1 | | | $ | 19.4 | | | $ | 22.0 | | | $ | 16.5 | | | $ | 23.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.36 | % | | | 2.30 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.44 | % (b) | | | 3.45 | % | | | 3.11 | % | | | 3.11 | % | | | 3.15 | % | | | 3.13 | % (f) |
Net investment loss | | | (1.86 | )% (b) | | | (1.95 | )% | | | (2.03 | )% | | | (1.55 | )% | | | (1.78 | )% | | | (1.76 | )% |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % | | | 203 | % | | | 309 | % | | | 110 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
143
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Small Cap Growth Fund — Class X
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 5.10 | | | $ | 4.98 | | | $ | 4.97 | | | $ | 3.47 | | | $ | 4.55 | | | $ | 8.05 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.06 | ) | | | (0.03 | ) | | | (0.12 | ) | | | (0.06 | ) | | | (0.08 | ) | | | (0.10 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.85 | | | | 0.15 | | | | 0.13 | | | | 1.56 | | | | (1.00 | ) | | | (3.40 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.79 | | | | 0.12 | | | | 0.01 | | | | 1.50 | | | | (1.08 | ) | | | (3.50 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.11 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.78 | | | $ | 5.10 | | | $ | 4.98 | | | $ | 4.97 | | | $ | 3.47 | | | $ | 4.55 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 15.63 | % | | | 2.41 | % | | | 0.20 | % (e) | | | 43.23 | % (e) | | | (23.74 | )% (e) | | | (43.48 | )% (e) |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 9.8 | | | $ | 10.1 | | | $ | 3.7 | | | $ | 4.1 | | | $ | 3.0 | | | $ | 3.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.36 | % | | | 2.30 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.44 | % (b) | | | 3.45 | % | | | 3.11 | % | | | 3.11 | % | | | 3.15 | % | | | 3.13 | % (f) |
Net investment loss | | | (1.86 | )% (b) | | | (1.95 | )% | | | (2.03 | )% | | | (1.55 | )% | | | (1.78 | )% | | | (1.76 | )% |
Portfolio turnover rate | | | 90 | % (c) | | | 288 | % | | | 242 | % | | | 203 | % | | | 309 | % | | | 110 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
144
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class A
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | April 12, 2004 (d) through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.63 | | | $ | 4.28 | | | $ | 4.27 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.06 | ) | | | (0.02 | ) |
Net realized and unrealized gain on investments | | | 0.58 | | | | 0.41 | | | | 0.03 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.55 | | | | 0.35 | | | | 0.01 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.18 | | | $ | 4.63 | | | $ | 4.28 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.88 | % | | | 8.18 | % | | | 0.23 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 13.1 | | | $ | 10.7 | | | $ | 8.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.65 | % (b) | | | 1.65 | % | | | 1.65 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.90 | % (b) | | | 2.22 | % | | | 2.18 | % (b) |
Net investment loss | | | (1.10 | )% (b) | | | (1.18 | )% | | | (1.12 | )% (b) |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
145
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class B
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.51 | | | $ | 4.20 | | | $ | 4.21 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.08 | ) | | | (0.04 | ) |
Net realized and unrealized gain on investments | | | 0.57 | | | | 0.39 | | | | 0.03 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.52 | | | | 0.31 | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.03 | | | $ | 4.51 | | | $ | 4.20 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.53 | % | | | 7.38 | % | | | (0.24 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 2.6 | | | $ | 2.1 | | | $ | 1.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.65 | % (b) | | | 2.97 | % | | | 2.93 | % (b) |
Net investment loss | | | (1.85 | )% (b) | | | (1.85 | )% | | | (1.85 | )% (b) |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
146
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.49 | | | $ | 4.18 | | | $ | 3.83 | | | $ | 3.06 | | | $ | 4.03 | | | $ | 10.01 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.10 | ) | | | (0.07 | ) | | | (0.06 | ) | | | (0.07 | ) | | | (0.09 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.56 | | | | 0.41 | | | | 0.42 | | | | 0.83 | | | | (0.90 | ) | | | (5.89 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.51 | | | | 0.31 | | | | 0.35 | | | | 0.77 | | | | (0.97 | ) | | | (5.98 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.00 | | | $ | 4.49 | | | $ | 4.18 | | | $ | 3.83 | | | $ | 3.06 | | | $ | 4.03 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.36 | % | | | 7.42 | % | | | 9.14 | % | | | 25.16 | % | | | (24.07 | )% | | | (59.72 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 20.9 | | | $ | 22.1 | | | $ | 27.8 | | | $ | 7.1 | | | $ | 3.6 | | | $ | 4.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.65 | % (b) | | �� | 2.97 | % | | | 2.93 | % | | | 3.54 | % | | | 3.65 | % | | | 3.40 | % (e) |
Net investment loss | | | (1.86 | )% (b) | | | (1.92 | )% | | | (1.79 | )% | | | (1.85 | )% | | | (1.88 | )% | | | (1.61 | )% |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % | | | 132 | % | | | 89 | % | | | 188 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
147
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.60 | | | $ | 4.26 | | | $ | 3.89 | | | $ | 3.09 | | | $ | 4.04 | | | $ | 10.01 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.08 | ) | | | (0.05 | ) | | | (0.04 | ) | | | (0.05 | ) | | | (0.06 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.57 | | | | 0.42 | | | | 0.42 | | | | 0.84 | | | | (0.90 | ) | | | (5.90 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.54 | | | | 0.34 | | | | 0.37 | | | | 0.80 | | | | (0.95 | ) | | | (5.96 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.14 | | | $ | 4.60 | | | $ | 4.26 | | | $ | 3.89 | | | $ | 3.09 | | | $ | 4.04 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.74 | % | | | 7.98 | % | | | 9.51 | % | | | 25.89 | % | | | (23.51 | )% | | | (59.56 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 22.7 | | | $ | 24.1 | | | $ | 38.4 | | | $ | 8.8 | | | $ | 5.8 | | | $ | 6.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.90 | % (b) | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.15 | %��(b) | | | 2.47 | % | | | 2.43 | % | | | 3.05 | % | | | 3.17 | % | | | 2.95 | % (f) |
Net investment loss | | | (1.36 | )% (b) | | | (1.42 | )% | | | (1.29 | )% | | | (1.34 | )% | | | (1.38 | )% | | | (1.13 | )% |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % | | | 132 | % | | | 89 | % | | | 188 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
148
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.50 | | | $ | 4.19 | | | $ | 3.84 | | | $ | 3.06 | | | $ | 4.03 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.10 | ) | | | (0.07 | ) | | | (0.06 | ) | | | (0.07 | ) | | | (0.09 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.56 | | | | 0.41 | | | | 0.42 | | | | 0.84 | | | | (0.90 | ) | | | (5.88 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.51 | | | | 0.31 | | | | 0.35 | | | | 0.78 | | | | (0.97 | ) | | | (5.97 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.01 | | | $ | 4.50 | | | $ | 4.19 | | | $ | 3.84 | | | $ | 3.06 | | | $ | 4.03 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.33 | % | | | 7.40 | % | | | 9.12 | % | | | 25.49 | % | | | (24.07 | )% | | | (59.68 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 57.8 | | | $ | 60.5 | | | $ | 75.4 | | | $ | 9.8 | | | $ | 7.3 | | | $ | 9.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.65 | % (b) | | | 2.97 | % | | | 2.93 | % | | | 3.56 | % | | | 3.65 | % | | | 3.37 | % (f) |
Net investment loss | | | (1.86 | )% (b) | | | (1.92 | )% | | | (1.79 | )% | | | (1.83 | )% | | | (1.88 | )% | | | (1.60 | )% |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % | | | 132 | % | | | 89 | % | | | 188 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
149
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid-Cap Growth Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 4.49 | | | $ | 4.18 | | | $ | 3.83 | | | $ | 3.06 | | | $ | 4.02 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.10 | ) | | | (0.07 | ) | | | (0.06 | ) | | | (0.07 | ) | | | (0.09 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.56 | | | | 0.41 | | | | 0.42 | | | | 0.83 | | | | (0.89 | ) | | | (5.89 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.51 | | | | 0.31 | | | | 0.35 | | | | 0.77 | | | | (0.96 | ) | | | (5.98 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 5.00 | | | $ | 4.49 | | | $ | 4.18 | | | $ | 3.83 | | | $ | 3.06 | | | $ | 4.02 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.36 | % | | | 7.42 | % | | | 9.14 | % (e) | | | 25.16 | % (e) | | | (23.88 | )% (e) | | | (59.78 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 11.5 | | | $ | 12.3 | | | $ | 15.3 | | | $ | 2.0 | | | $ | 0.9 | | | $ | 1.2 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.65 | % (b) | | | 2.97 | % | | | 2.93 | % | | | 3.54 | % | | | 3.65 | % | | | 3.47 | % (f) |
Net investment loss | | | (1.86 | )% (b) | | | (1.92 | )% | | | (1.79 | )% | | | (1.85 | )% | | | (1.88 | )% | | | (1.65 | )% |
Portfolio turnover rate | | | 31 | % (c) | | | 82 | % | | | 98 | % | | | 132 | % | | | 89 | % | | | 188 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
150
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class A
| |
| | | Six Months
Ended
April 30,
2006 (e)
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through
October 31,
2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 20.12 | | | $ | 19.33 | | | $ | 18.92 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income (loss) | | | 0.02 | | | | (0.07 | ) | | | (0.03 | ) |
Net realized and unrealized gain on investments | | | 2.57 | | | | 3.11 | | | | 0.44 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.59 | | | | 3.04 | | | | 0.41 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 18.73 | | | $ | 20.12 | | | $ | 19.33 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.94 | % | | | 16.74 | % | | | 2.17 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 47.2 | | | $ | 20.2 | | | $ | 13.7 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.47 | % (b) | | | 1.60 | % | | | 1.60 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.47 | % (b) | | | 1.65 | % | | | 1.64 | % (b) |
Net investment income (loss) | | | 0.22 | % (b) | | | (0.26 | )% | | | (0.29 | )% (b) |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
151
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class B
| |
| | | Six Months
Ended
April 30,
2006 (e)
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through
October 31,
2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 19.28 | | | $ | 18.74 | | | $ | 18.43 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.06 | ) | | | (0.17 | ) | | | (0.11 | ) |
Net realized and unrealized gain on investments | | | 2.45 | | | | 2.96 | | | | 0.42 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.39 | | | | 2.79 | | | | 0.31 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 17.69 | | | $ | 19.28 | | | $ | 18.74 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.54 | % | | | 18.85 | % | | | 1.68 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 56.0 | | | $ | 3.5 | | | $ | 1.1 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and
Expense Reimbursement | | | 2.22 | % (b) | | | 2.35 | % | | | 2.35 | % (b) |
Expenses Before Advisory Fee Waiver and
Expense Reimbursement | | | 2.22 | % (b) | | | 2.40 | % | | | 2.39 | % (b) |
Net investment loss | | | (0.65 | )% (b) | | | (1.02 | )% | | | (1.07 | )% (b) |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
152
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 19.25 | | | $ | 18.73 | | | $ | 16.40 | | | $ | 12.84 | | | $ | 13.17 | | | $ | 14.53 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.04 | ) | | | (0.21 | ) | | | (0.18 | ) | | | (0.16 | ) | | | (0.14 | ) | | | (0.11 | ) |
Net realized and unrealized gain (loss) on investments | | | 2.44 | | | | 2.98 | | | | 2.66 | | | | 3.72 | | | | (0.08 | ) | | | (1.17 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.40 | | | | 2.77 | | | | 2.48 | | | | 3.56 | | | | (0.22 | ) | | | (1.28 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 17.67 | | | $ | 19.25 | | | $ | 18.73 | | | $ | 16.40 | | | $ | 12.84 | | | $ | 13.17 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.56 | % | | | 15.75 | % | | | 15.21 | % | | | 27.73 | % | | | (1.78 | )% | | | (8.87 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 95.5 | | | $ | 56.0 | | | $ | 58.6 | | | $ | 42.7 | | | $ | 36.4 | | | $ | 34.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.22 | % (b) | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.22 | % (b) | | | 2.40 | % | | | 2.39 | % | | | 2.52 | % | | | 2.49 | % | | | 2.41 | % (e) |
Net investment loss | | | (0.48 | )% (b) | | | (1.03 | )% | | | (1.02 | )% | | | (1.16 | )% | | | (0.99 | )% | | | (0.73 | )% |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % | | | 61 | % | | | 109 | % | | | 219 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
153
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 19.98 | | | $ | 19.28 | | | $ | 16.79 | | | $ | 13.08 | | | $ | 13.35 | | | $ | 14.65 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | 0.01 | | | | (0.10 | ) | | | (0.10 | ) | | | (0.09 | ) | | | (0.07 | ) | | | (0.03 | ) |
Net realized and unrealized gain (loss) on investments | | | 2.54 | | | | 3.05 | | | | 2.74 | | | | 3.80 | | | | (0.09 | ) | | | (1.19 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.55 | | | | 2.95 | | | | 2.64 | | | | 3.71 | | | | (0.16 | ) | | | (1.22 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 18.55 | | | $ | 19.98 | | | $ | 19.28 | | | $ | 16.79 | | | $ | 13.08 | | | $ | 13.35 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.84 | % | | | 16.29 | % | | | 15.81 | % | | | 28.37 | % | | | (1.31 | )% | | | (8.39 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 47.6 | | | $ | 49.1 | | | $ | 68.0 | | | $ | 51.8 | | | $ | 43.3 | | | $ | 43.6 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.72 | % (b) | | | 1.85 | % | | | 1.85 | % | | | 1.85 | % | | | 1.85 | % | | | 1.85 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.72 | % (b) | | | 1.90 | % | | | 1.89 | % | | | 2.01 | % | | | 1.99 | % | | | 1.91 | % (f) |
Net investment income (loss) | | | 0.13 | % (b) | | | (0.53 | )% | | | (0.53 | )% | | | (0.66 | )% | | | (0.49 | )% | | | (0.24 | )% |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % | | | 61 | % | | | 109 | % | | | 219 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
154
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 19.25 | | | $ | 18.73 | | | $ | 16.40 | | | $ | 12.83 | | | $ | 13.17 | | | $ | 14.53 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.22 | ) | | | (0.18 | ) | | | (0.16 | ) | | | (0.14 | ) | | | (0.11 | ) |
Net realized and unrealized gain (loss) on investments | | | 2.42 | | | | 2.99 | | | | 2.66 | | | | 3.73 | | | | (0.09 | ) | | | (1.17 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.39 | | | | 2.77 | | | | 2.48 | | | | 3.57 | | | | (0.23 | ) | | | (1.28 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 17.66 | | | $ | 19.25 | | | $ | 18.73 | | | $ | 16.40 | | | $ | 12.83 | | | $ | 13.17 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.50 | % | | | 15.75 | % | | | 15.21 | % | | | 27.83 | % | | | (1.86 | )% | | | (8.87 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 136.8 | | | $ | 138.4 | | | $ | 147.1 | | | $ | 102.7 | | | $ | 94.7 | | | $ | 96.6 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.22 | % (b) | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.22 | % (b) | | | 2.40 | % | | | 2.39 | % | | | 2.52 | % | | | 2.49 | % | | | 2.41 | % (f) |
Net investment loss | | | (0.37 | )% (b) | | | (1.03 | )% | | | (1.02 | )% | | | (1.16 | )% | | | (0.99 | )% | | | (0.73 | )% |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % | | | 61 | % | | | 109 | % | | | 219 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
155
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Mid Cap Value Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 19.19 | | | $ | 18.69 | | | $ | 16.37 | | | $ | 12.81 | | | $ | 13.14 | | | $ | 14.50 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | 0.02 | | | | (0.22 | ) | | | (0.18 | ) | | | (0.16 | ) | | | (0.14 | ) | | | (0.11 | ) |
Net realized and unrealized gain (loss) on investments | | | 2.42 | | | | 2.97 | | | | 2.65 | | | | 3.72 | | | | (0.08 | ) | | | (1.17 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 2.44 | | | | 2.75 | | | | 2.47 | | | | 3.56 | | | | (0.22 | ) | | | (1.28 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (3.98 | ) | | | (2.25 | ) | | | (0.15 | ) | | | — | | | | (0.11 | ) | | | (0.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 17.65 | | | $ | 19.19 | | | $ | 18.69 | | | $ | 16.37 | | | $ | 12.81 | | | $ | 13.14 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 14.94 | % | | | 15.67 | % | | | 15.18 | % (e) | | | 27.79 | % (e) | | | (1.79 | )% (e) | | | (8.89 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 25.1 | | | $ | 24.8 | | | $ | 26.4 | | | $ | 19.8 | | | $ | 17.1 | | | $ | 15.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.56 | % (b) | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % | | | 2.35 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.56 | % (b) | | | 2.40 | % | | | 2.39 | % | | | 2.52 | % | | | 2.49 | % | | | 2.41 | % (f) |
Net investment income (loss) | | | 0.29 | % (b) | | | (1.03 | )% | | | (1.02 | )% | | | (1.16 | )% | | | (0.99 | )% | | | (0.73 | )% |
Portfolio turnover rate | | | 52 | % (c) | | | 98 | % | | | 80 | % | | | 61 | % | | | 109 | % | | | 219 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
156
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | |
| | | Strategic Partners Mid Cap Value Fund — Class Z
|
| | | | |
| | | November 28, 2005 (d) through April 30, 2006 (e)
| |
Per Share Operating Performance: | | | | |
Net Asset Value, beginning of period | | $ | 17.08 | |
| | |
|
|
|
Income From Investment Operations: | | | | |
Net investment income | | | 0.02 | |
Net realized and unrealized gain on investments | | | 1.64 | |
| | |
|
|
|
Total from investment operations | | | 1.66 | |
| | |
|
|
|
Less Dividends and Distributions: | | | | |
Dividends from net investment income | | | — | |
Distributions from net realized gains | | | — | |
| | |
|
|
|
Total dividends and distributions | | | — | |
| | |
|
|
|
Net Asset Value, end of period | | $ | 18.74 | |
| | |
|
|
|
Total Investment Return (a) | | | 9.72 | % |
| |
Ratios/Supplemental Data: | | | | |
Net assets, end of period (in millions) | | $ | 15.0 | |
Ratios to average net assets: | | | | |
Expenses After Advisory Fee Waiver and Expense
Reimbursement | | | 1.22 | % (b) |
Expenses Before Advisory Fee Waiver and Expense
Reimbursement | | | 1.22 | % (b) |
Net investment income | | | 0.33 | % (b) |
Portfolio turnover rate | | | 52 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
157
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Technology Fund — Class A
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.77 | | | $ | 2.66 | | | $ | 2.92 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.02 | ) | | | (0.03 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.37 | | | | 0.14 | | | | (0.24 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.35 | | | | 0.11 | | | | (0.26 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 3.12 | | | $ | 2.77 | | | $ | 2.66 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.64 | % | | | 4.14 | % | | | (8.90 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 2.8 | | | $ | 2.3 | | | $ | 1.5 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.65 | % (b) | | | 1.65 | % | | | 1.65 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 3.35 | % (b) | | | 3.26 | % | | | 3.05 | % (b) |
Net investment loss | | | (1.27 | )% (b) | | | (0.85 | )% | | | (1.31 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
158
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Technology Fund —
Class B
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d) through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.66 | | | $ | 2.58 | | | $ | 2.84 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.04 | ) | | | (0.03 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.35 | | | | 0.12 | | | | (0.23 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.32 | | | | 0.08 | | | | (0.26 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.98 | | | $ | 2.66 | | | $ | 2.58 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.03 | % | | | 3.10 | % | | | (9.16 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 0.4 | | | $ | 0.3 | | | $ | 0.2 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 4.10 | % (b) | | | 4.01 | % | | | 3.80 | % (b) |
Net investment loss | | | (2.02 | )% (b) | | | (1.69 | )% | | | (2.05 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
159
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Technology Fund —Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.68 | | | $ | 2.59 | | | $ | 2.73 | | | $ | 1.94 | | | $ | 3.14 | | | $ | 9.26 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.04 | ) | | | (0.06 | ) | | | (0.06 | ) | | | (0.05 | ) | | | (0.06 | ) | | | (0.08 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.36 | | | | 0.15 | | | | (0.08 | ) | | | 0.84 | | | | (1.14 | ) | | | (6.04 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.32 | | | | 0.09 | | | | (0.14 | ) | | | 0.79 | | | | (1.20 | ) | | | (6.12 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 3.00 | | | $ | 2.68 | | | $ | 2.59 | | | $ | 2.73 | | | $ | 1.94 | | | $ | 3.14 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.94 | % | | | 3.48 | % | | | (5.13 | )% | | | 40.72 | % | | | (38.22 | )% | | | (66.09 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 3.0 | | | $ | 3.2 | | | $ | 5.4 | | | $ | 6.7 | | | $ | 4.6 | | | $ | 6.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 4.10 | % (b) | | | 4.01 | % | | | 3.80 | % | | | 3.77 | % | | | 3.54 | % | | | 3.31 | % (e) |
Net investment loss | | | (2.01 | )% (b) | | | (1.47 | )% | | | (2.13 | )% | | | (2.09 | )% | | | (2.25 | )% | | | (1.68 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % | | | 89 | % | | | 91 | % | | | 74 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
160
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Technology Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.76 | | | $ | 2.66 | | | $ | 2.79 | | | $ | 1.97 | | | $ | 3.18 | | | $ | 9.27 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.02 | ) | | | (0.03 | ) | | | (0.04 | ) | | | (0.04 | ) | | | (0.05 | ) | | | (0.05 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.36 | | | | 0.13 | | | | (0.09 | ) | | | 0.86 | | | | (1.16 | ) | | | (6.03 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.34 | | | | 0.10 | | | | (0.13 | ) | | | 0.82 | | | | (1.21 | ) | | | (6.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 3.10 | | | $ | 2.76 | | | $ | 2.66 | | | $ | 2.79 | | | $ | 1.97 | | | $ | 3.18 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.32 | % | | | 3.76 | % | | | (4.66 | )% | | | 41.62 | % | | | (38.05 | )% | | | (65.64 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 2.2 | | | $ | 2.3 | | | $ | 4.4 | | | $ | 7.5 | | | $ | 4.8 | | | $ | 8.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.90 | % (b) | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % | | | 1.90 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 3.60 | % (b) | | | 3.51 | % | | | 3.30 | % | | | 3.27 | % | | | 3.03 | % | | | 2.90 | % (f) |
Net investment loss | | | (1.51 | )% (b) | | | (0.96 | )% | | | (1.64 | )% | | | (1.59 | )% | | | (1.74 | )% | | | (1.21 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % | | | 89 | % | | | 91 | % | | | 74 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
161
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Technology Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.67 | | | $ | 2.58 | | | $ | 2.72 | | | $ | 1.93 | | | $ | 3.13 | | | $ | 9.25 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.05 | ) | | | (0.06 | ) | | | (0.05 | ) | | | (0.07 | ) | | | (0.08 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.35 | | | | 0.14 | | | | (0.08 | ) | | | 0.84 | | | | (1.13 | ) | | | (6.04 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.32 | | | | 0.09 | | | | (0.14 | ) | | | 0.79 | | | | (1.20 | ) | | | (6.12 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.99 | | | $ | 2.67 | | | $ | 2.58 | | | $ | 2.72 | | | $ | 1.93 | | | $ | 3.13 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| | | | | | |
Total Investment Return (a) | | | 11.99 | % | | | 3.49 | % | | | (5.15 | )% | | | 40.93 | % | | | (38.34 | )% | | | (66.16 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 5.4 | | | $ | 5.7 | | | $ | 8.2 | | | $ | 9.7 | | | $ | 6.0 | | | $ | 10.3 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 4.10 | % (b) | | | 4.01 | % | | | 3.80 | % | | | 3.77 | % | | | 3.52 | % | | | 3.30 | % (f) |
Net investment loss | | | (2.02 | )% (b) | | | (1.49 | )% | | | (2.13 | )% | | | (2.10 | )% | | | (2.25 | )% | | | (1.67 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % | | | 89 | % | | | 91 | % | | | 74 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
162
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Technology Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002
(d)
| | | 2001
(d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.68 | | | $ | 2.60 | | | $ | 2.74 | | | $ | 1.94 | | | $ | 3.14 | | | $ | 9.25 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.05 | ) | | | (0.06 | ) | | | (0.05 | ) | | | (0.07 | ) | | | (0.08 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.36 | | | | 0.13 | | | | (0.08 | ) | | | 0.85 | | | | (1.13 | ) | | | (6.03 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.33 | | | | 0.08 | | | | (0.14 | ) | | | 0.80 | | | | (1.20 | ) | | | (6.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
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|
| |
|
|
| |
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|
|
Net Asset Value, end of period | | $ | 3.01 | | | $ | 2.68 | | | $ | 2.60 | | | $ | 2.74 | | | $ | 1.94 | | | $ | 3.14 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.31 | % | | | 3.08 | % | | | (5.11 | )% (e) | | | 41.24 | % (e) | | | (38.22 | )% (e) | | | (66.05 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 1.0 | | | $ | 1.0 | | | $ | 1.6 | | | $ | 1.6 | | | $ | 1.0 | | | $ | 1.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.40 | % (b) | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % | | | 2.40 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 4.10 | % (b) | | | 4.01 | % | | | 3.80 | % | | | 3.78 | % | | | 3.51 | % | | | 3.44 | % (f) |
Net investment loss | | | (2.02 | )% (b) | | | (1.47 | )% | | | (2.13 | )% | | | (2.10 | )% | | | (2.26 | )% | | | (1.71 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 39 | % | | | 136 | % | | | 89 | % | | | 91 | % | | | 74 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
163
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class A
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.70 | | | $ | 2.56 | | | $ | 2.60 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.01 | ) | | | (0.01 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.24 | | | | 0.15 | | | | (0.02 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.23 | | | | 0.14 | | | | (0.04 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.93 | | | $ | 2.70 | | | $ | 2.56 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.52 | % | | | 5.47 | % | | | (1.54 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 2.1 | | | $ | 1.9 | | | $ | 1.4 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.50 | % (b) | | | 1.50 | % | | | 1.50 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.18 | % (b) | | | 2.10 | % | | | 2.25 | % (b) |
Net investment loss | | | (0.87 | )% (b) | | | (0.19 | )% | | | (1.17 | )% (b) |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
164
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class B
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.62 | | | $ | 2.50 | | | $ | 2.57 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.02 | ) | | | (0.03 | ) | | | (0.03 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.24 | | | | 0.15 | | | | (0.04 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.22 | | | | 0.12 | | | | (0.07 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.84 | | | $ | 2.62 | | | $ | 2.50 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.40 | % | | | 4.80 | % | | | (2.72 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 0.7 | | | $ | 0.5 | | | $ | 0.5 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.25 | % (b) | | | 2.25 | % | | | 2.25 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.93 | % (b) | | | 2.85 | % | | | 3.00 | % (b) |
Net investment loss | | | (1.64 | )% (b) | | | (0.94 | )% | | | (1.94 | )% (b) |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
165
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class C
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.62 | | | $ | 2.50 | | | $ | 2.42 | | | $ | 1.60 | | | $ | 2.51 | | | $ | 8.21 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.02 | ) | | | (0.05 | ) | | | (0.04 | ) | | | (0.05 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.25 | | | | 0.14 | | | | 0.13 | | | | 0.86 | | | | (0.86 | ) | | | (5.63 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.22 | | | | 0.12 | | | | 0.08 | | | | 0.82 | | | | (0.91 | ) | | | (5.70 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.84 | | | $ | 2.62 | | | $ | 2.50 | | | $ | 2.42 | | | $ | 1.60 | | | $ | 2.51 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.40 | % | | | 4.80 | % | | | 3.31 | % | | | 51.25 | % | | | (36.26 | )% | | | (69.43 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 6.9 | | | $ | 7.6 | | | $ | 11.2 | | | $ | 13.5 | | | $ | 7.7 | | | $ | 7.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.25 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.93 | % (b) | | | 2.85 | % | | | 3.00 | % | | | 2.93 | % | | | 3.10 | % | | | 3.14 | % (e) |
Net investment loss | | | (1.60 | )% (b) | | | (0.69 | )% | | | (1.98 | )% | | | (1.96 | )% | | | (2.06 | )% | | | (1.93 | )% |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % | | | 17 | % | | | 30 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
166
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class L (e)
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.68 | | | $ | 2.55 | | | $ | 2.45 | | | $ | 1.61 | | | $ | 2.53 | | | $ | 8.22 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | (0.01 | ) | | | — | | | | (0.04 | ) | | | (0.03 | ) | | | (0.04 | ) | | | (0.05 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.24 | | | | 0.13 | | | | 0.14 | | | | 0.87 | | | | (0.88 | ) | | | (5.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.23 | | | | 0.13 | | | | 0.10 | | | | 0.84 | | | | (0.92 | ) | | | (5.69 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.91 | | | $ | 2.68 | | | $ | 2.55 | | | $ | 2.45 | | | $ | 1.61 | | | $ | 2.53 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.58 | % | | | 5.10 | % | | | 4.08 | % | | | 52.17 | % | | | (36.36 | )% | | | (69.22 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 4.2 | | | $ | 5.0 | | | $ | 7.3 | | | $ | 9.2 | | | $ | 5.1 | | | $ | 6.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.75 | % (b) | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.42 | % (b) | | | 2.35 | % | | | 2.50 | % | | | 2.42 | % | | | 2.58 | % | | | 2.59 | % (f) |
Net investment loss | | | (1.09 | )% (b) | | | (0.16 | )% | | | (1.48 | )% | | | (1.46 | )% | | | (1.56 | )% | | | (1.42 | )% |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % | | | 17 | % | | | 30 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
167
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class M (e)
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.63 | | | $ | 2.51 | | | $ | 2.43 | | | $ | 1.60 | | | $ | 2.52 | | | $ | 8.22 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.02 | ) | | | (0.05 | ) | | | (0.04 | ) | | | (0.05 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.25 | | | | 0.14 | | | | 0.13 | | | | 0.87 | | | | (0.87 | ) | | | (5.63 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.22 | | | | 0.12 | | | | 0.08 | | | | 0.83 | | | | (0.92 | ) | | | (5.70 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.85 | | | $ | 2.63 | | | $ | 2.51 | | | $ | 2.43 | | | $ | 1.60 | | | $ | 2.52 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.37 | % | | | 4.78 | % | | | 3.29 | % | | | 51.88 | % | | | (36.51 | )% | | | (69.34 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 9.5 | | | $ | 9.9 | | | $ | 14.5 | | | $ | 17.1 | | | $ | 11.0 | | | $ | 13.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.25 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.93 | % (b) | | | 2.85 | % | | | 3.00 | % | | | 2.93 | % | | | 3.09 | % | | | 3.13 | % (f) |
Net investment loss | | | (1.60 | )% (b) | | | (0.67 | )% | | | (1.98 | )% | | | (1.96 | )% | | | (2.06 | )% | | | (1.92 | )% |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % | | | 17 | % | | | 30 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
168
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Managed OTC Fund — Class X
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 2.63 | | | $ | 2.51 | | | $ | 2.43 | | | $ | 1.60 | | | $ | 2.52 | | | $ | 8.21 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.03 | ) | | | (0.02 | ) | | | (0.05 | ) | | | (0.04 | ) | | | (0.05 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.25 | | | | 0.14 | | | | 0.13 | | | | 0.87 | | | | (0.87 | ) | | | (5.62 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.22 | | | | 0.12 | | | | 0.08 | | | | 0.83 | | | | (0.92 | ) | | | (5.69 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 2.85 | | | $ | 2.63 | | | $ | 2.51 | | | $ | 2.43 | | | $ | 1.60 | | | $ | 2.52 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.37 | % | | | 4.78 | % | | | 3.29 | % (e) | | | 51.88 | % (e) | | | (36.51 | )% (e) | | | (69.31 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 1.0 | | | $ | 1.0 | | | $ | 1.6 | | | $ | 1.8 | | | $ | 1.0 | | | $ | 1.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.25 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.93 | % (b) | | | 2.85 | % | | | 3.00 | % | | | 2.92 | % | | | 3.07 | % | | | 3.23 | % (f) |
Net investment loss | | | (1.61 | )% (b) | | | (0.56 | )% | | | (1.98 | )% | | | (1.96 | )% | | | (2.06 | )% | | | (1.94 | )% |
Portfolio turnover rate | | | 11 | % (c) | | | 10 | % | | | 17 | % | | | 17 | % | | | 30 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
169
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class A
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 15.28 | | | $ | 13.44 | | | $ | 13.73 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.07 | ) | | | (0.11 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.42 | | | | 1.95 | | | | (0.27 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.35 | | | | 1.84 | | | | (0.29 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.63 | | | $ | 15.28 | | | $ | 13.44 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.84 | % | | | 13.69 | % | | | (2.11 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 39.6 | | | $ | 31.1 | | | $ | 18.2 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.48 | % (b) | | | 1.55 | % | | | 1.55 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.48 | % (b) | | | 1.67 | % | | | 1.69 | % (b) |
Net investment loss | | | (0.50 | )% (b) | | | (0.62 | )% | | | (0.47 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
170
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class B
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
| Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 14.68 | | | $ | 13.01 | | | $ | 13.35 | |
| | |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.10 | ) | | | (0.17 | ) | | | (0.05 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.34 | | | | 1.84 | | | | (0.29 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.24 | | | | 1.67 | | | | (0.34 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.92 | | | $ | 14.68 | | | $ | 13.01 | |
| | |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 8.45 | % | | | 12.84 | % | | | (2.55 | )% |
| | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 10.0 | | | $ | 8.1 | | | $ | 3.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.30 | % | | | 2.30 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.42 | % | | | 2.44 | % (b) |
Net investment loss | | | (1.24 | )% (b) | | | (1.37 | )% | | | (1.21 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
171
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 14.65 | | | $ | 12.98 | | | $ | 12.70 | | | $ | 10.45 | | | $ | 10.98 | | | $ | 15.78 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.11 | ) | | | (0.23 | ) | | | (0.20 | ) | | | (0.16 | ) | | | (0.17 | ) | | | (0.17 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.34 | | | | 1.90 | | | | 0.48 | | | | 2.41 | | | | (0.36 | ) | | | (4.63 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.23 | | | | 1.67 | | | | 0.28 | | | | 2.25 | | | | (0.53 | ) | | | (4.80 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.88 | | | $ | 14.65 | | | $ | 12.98 | | | $ | 12.70 | | | $ | 10.45 | | | $ | 10.98 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 8.40 | % | | | 12.87 | % | | | 2.20 | % | | | 21.88 | % | | | (5.10 | )% | | | (30.37 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 142.4 | | | $ | 146.0 | | | $ | 167.1 | | | $ | 178.3 | | | $ | 144.4 | | | $ | 156.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.42 | % | | | 2.44 | % | | | 2.51 | % | | | 2.50 | % | | | 2.44 | % (e) |
Net investment loss | | | (1.27 | )% (b) | | | (1.36 | )% | | | (1.37 | )% | | | (1.52 | )% | | | (1.51 | )% | | | (1.26 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % | | | 81 | % | | | 103 | % | | | 133 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
172
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 15.19 | | | $ | 13.40 | | | $ | 13.04 | | | $ | 10.68 | | | $ | 11.16 | | | $ | 15.96 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.13 | ) | | | (0.13 | ) | | | (0.11 | ) | | | (0.12 | ) | | | (0.10 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.38 | | | | 1.92 | | | | 0.49 | | | | 2.47 | | | | (0.36 | ) | | | (4.70 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.33 | | | | 1.79 | | | | 0.36 | | | | 2.36 | | | | (0.48 | ) | | | (4.80 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 16.52 | | | $ | 15.19 | | | $ | 13.40 | | | $ | 13.04 | | | $ | 10.68 | | | $ | 11.16 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 8.76 | % | | | 13.36 | % | | | 2.76 | % | | | 22.44 | % | | | (4.57 | )% | | | (30.03 | )% |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 98.8 | | | $ | 104.4 | | | $ | 139.5 | | | $ | 148.1 | | | $ | 124.0 | | | $ | 149.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.73 | % (b) | | | 1.80 | % | | | 1.80 | % | | | 1.80 | % | | | 1.80 | % | | | 1.80 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.73 | % (b) | | | 1.92 | % | | | 1.94 | % | | | 2.01 | % | | | 2.00 | % | | | 1.94 | % (f) |
Net investment loss | | | (0.77 | )% (b) | | | (0.85 | )% | | | (0.87 | )% | | | (1.02 | )% | | | (1.01 | )% | | | (0.76 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % | | | 81 | % | | | 103 | % | | | 133 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
173
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 14.66 | | | $ | 13.00 | | | $ | 12.72 | | | $ | 10.46 | | | $ | 10.99 | | | $ | 15.80 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.11 | ) | | | (0.22 | ) | | | (0.19 | ) | | | (0.16 | ) | | | (0.17 | ) | | | (0.17 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.35 | | | | 1.88 | | | | 0.47 | | | | 2.42 | | | | (0.36 | ) | | | (4.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.24 | | | | 1.66 | | | | 0.28 | | | | 2.26 | | | | (0.53 | ) | | | (4.81 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.90 | | | $ | 14.66 | | | $ | 13.00 | | | $ | 12.72 | | | $ | 10.46 | | | $ | 10.99 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 8.46 | % | | | 12.77 | % | | | 2.20 | % | | | 21.96 | % | | | (5.10 | )% | | | (30.44 | )% |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 279.4 | | | $ | 291.5 | | | $ | 329.3 | | | $ | 320.8 | | | $ | 282.1 | | | $ | 331.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.42 | % | | | 2.44 | % | | | 2.51 | % | | | 2.50 | % | | | 2.44 | % (f) |
Net investment loss | | | (1.27 | )% (b) | | | (1.36 | )% | | | (1.36 | )% | | | (1.53 | )% | | | (1.51 | )% | | | (1.26 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % | | | 81 | % | | | 103 | % | | | 133 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
174
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Capital Growth Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 14.64 | | | $ | 12.97 | | | $ | 12.69 | | | $ | 10.44 | | | $ | 10.97 | | | $ | 15.77 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.11 | ) | | | (0.22 | ) | | | (0.18 | ) | | | (0.16 | ) | | | (0.17 | ) | | | (0.17 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.34 | | | | 1.89 | | | | 0.46 | | | | 2.41 | | | | (0.36 | ) | | | (4.63 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.23 | | | | 1.67 | | | | 0.28 | | | | 2.25 | | | | (0.53 | ) | | | (4.80 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.87 | | | $ | 14.64 | | | $ | 12.97 | | | $ | 12.69 | | | $ | 10.44 | | | $ | 10.97 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 8.40 | % | | | 12.88 | % | | | 2.21 | % (e) | | | 21.90 | % (e) | | | (5.10 | )% (e) | | | (30.39 | )% (e) |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 50.4 | | | $ | 53.2 | | | $ | 58.8 | | | $ | 53.0 | | | $ | 45.6 | | | $ | 51.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % | | | 2.30 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.42 | % | | | 2.44 | % | | | 2.51 | % | | | 2.50 | % | | | 2.44 | % (f) |
Net investment loss | | | (1.27 | )% (b) | | | (1.36 | )% | | | (1.36 | )% | | | (1.52 | )% | | | (1.51 | )% | | | (1.26 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 60 | % | | | 78 | % | | | 81 | % | | | 103 | % | | | 133 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
175
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class A
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended
October 31,
2005 (e)
| | | April 12, 2004 (d)
through
October 31,
2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 11.75 | | | $ | 11.20 | | | $ | 11.70 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.05 | ) | | | (0.01 | ) | | | (0.04 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.37 | | | | 0.56 | | | | (0.46 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.32 | | | | 0.55 | | | | (0.50 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.07 | | | $ | 11.75 | | | $ | 11.20 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.23 | % | | | 4.91 | % | | | (4.27 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 19.3 | | | $ | 14.5 | | | $ | 10.1 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.51 | % (b) | | | 1.50 | % | | | 1.50 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.81 | % (b) | | | 2.15 | % | | | 1.92 | % (b) |
Net investment loss | | | (0.51 | )% (b) | | | (0.13 | )% | | | (0.66 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
176
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class B
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended
October 31,
2005 (e)
| | | April 12, 2004 (d)
through
October 31,
2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 10.06 | | | $ | 9.66 | | | $ | 10.16 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment loss | | | (0.07 | ) | | | (0.07 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.17 | | | | 0.47 | | | | (0.43 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.10 | | | | 0.40 | | | | (0.50 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 11.16 | | | $ | 10.06 | | | $ | 9.66 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.93 | % | | | 4.14 | % | | | (4.92 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 4.7 | | | $ | 3.7 | | | $ | 1.6 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.26 | % (b) | | | 2.25 | % | | | 2.25 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.56 | % (b) | | | 2.90 | % | | | 2.67 | % (b) |
Net investment loss | | | (1.32 | )% (b) | | | (0.97 | )% | | | (1.39 | )% (b) |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
177
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class C (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 10.04 | | | $ | 9.64 | | | $ | 9.53 | | | $ | 8.51 | | | $ | 10.91 | | | $ | 20.10 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.08 | ) | | | (0.08 | ) | | | (0.13 | ) | | | (0.13 | ) | | | (0.12 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.17 | | | | 0.48 | | | | 0.24 | | | | 1.15 | | | | (2.28 | ) | | | (9.12 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.09 | | | | 0.40 | | | | 0.11 | | | | 1.02 | | | | (2.40 | ) | | | (9.19 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 11.13 | | | $ | 10.04 | | | $ | 9.64 | | | $ | 9.53 | | | $ | 8.51 | | | $ | 10.91 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.86 | % | | | 4.15 | % | | | 1.15 | % | | | 11.99 | % | | | (22.00 | )% | | | (45.72 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 41.3 | | | $ | 43.9 | | | $ | 61.5 | | | $ | 87.3 | | | $ | 99.2 | | | $ | 186.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.26 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.56 | % (b) | | | 2.90 | % | | | 2.67 | % | | | 2.76 | % | | | 2.67 | % | | | 2.47 | % (f) |
Net investment loss | | | (1.30 | )% (b) | | | (0.64 | )% | | | (1.39 | )% | | | (1.48 | )% | | | (1.19 | )% | | | (0.45 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % | | | 107 | % | | | 76 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
178
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class L (e)(f)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 11.69 | | | $ | 11.17 | | | $ | 10.99 | | | $ | 9.76 | | | $ | 12.44 | | | $ | 22.80 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | (0.03 | ) | | | (0.02 | ) | | | (0.10 | ) | | | (0.10 | ) | | | (0.12 | ) | | | 0.01 | |
Net realized and unrealized gain (loss) on investments | | | 1.34 | | | | 0.54 | | | | 0.28 | | | | 1.33 | | | | (2.56 | ) | | | (10.37 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.31 | | | | 0.52 | | | | 0.18 | | | | 1.23 | | | | (2.68 | ) | | | (10.36 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.00 | | | $ | 11.69 | | | $ | 11.17 | | | $ | 10.99 | | | $ | 9.76 | | | $ | 12.44 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 11.21 | % | | | 4.66 | % | | | 1.64 | % | | | 12.60 | % | | | (21.54 | )% | | | (45.44 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 46.5 | | | $ | 49.3 | | | $ | 71.7 | | | $ | 102.8 | | | $ | 112.4 | | | $ | 210.6 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.76 | % (b) | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % | | | 1.75 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.06 | % (b) | | | 2.40 | % | | | 2.17 | % | | | 2.26 | % | | | 2.16 | % | | | 1.98 | % (g) |
Net investment income (loss) | | | (0.80 | )% (b) | | | (0.13 | )% | | | (0.89 | )% | | | (0.98 | )% | | | (1.05 | )% | | | 0.05 | % |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % | | | 107 | % | | | 76 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
179
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class M (e)(f)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 10.07 | | | $ | 9.67 | | | $ | 9.56 | | | $ | 8.54 | | | $ | 10.94 | | | $ | 20.14 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.08 | ) | | | (0.08 | ) | | | (0.14 | ) | | | (0.13 | ) | | | (0.12 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.17 | | | | 0.48 | | | | 0.25 | | | | 1.15 | | | | (2.28 | ) | | | (9.13 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.09 | | | | 0.40 | | | | 0.11 | | | | 1.02 | | | | (2.40 | ) | | | (9.20 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 11.16 | | | $ | 10.07 | | | $ | 9.67 | | | $ | 9.56 | | | $ | 8.54 | | | $ | 10.94 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.82 | % | | | 4.14 | % | | | 1.15 | % | | | 11.94 | % | | | (21.94 | )% | | | (45.68 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 143.9 | | | $ | 155.5 | | | $ | 217.0 | | | $ | 283.0 | | | $ | 309.9 | | | $ | 556.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.26 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.56 | % (b) | | | 2.90 | % | | | 2.67 | % | | | 2.76 | % | | | 2.67 | % | | | 2.47 | % (g) |
Net investment loss | | | (1.30 | )% (b) | | | (0.65 | )% | | | (1.39 | )% | | | (1.48 | )% | | | (1.21 | )% | | | (0.45 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % | | | 107 | % | | | 76 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
180
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Concentrated Growth Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 10.08 | | | $ | 9.68 | | | $ | 9.57 | | | $ | 8.55 | | | $ | 10.95 | | | $ | 20.17 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment loss | | | (0.08 | ) | | | (0.08 | ) | | | (0.14 | ) | | | (0.13 | ) | | | (0.11 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.18 | | | | 0.48 | | | | 0.25 | | | | 1.15 | | | | (2.29 | ) | | | (9.15 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.10 | | | | 0.40 | | | | 0.11 | | | | 1.02 | | | | (2.40 | ) | | | (9.22 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 11.18 | | | $ | 10.08 | | | $ | 9.68 | | | $ | 9.57 | | | $ | 8.55 | | | $ | 10.95 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.91 | % | | | 4.13 | % | | | 1.15 | % (e) | | | 11.93 | % (e) | | | (21.92 | )% (e) | | | (45.71 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 27.0 | | | $ | 28.9 | | | $ | 38.0 | | | $ | 47.3 | | | $ | 49.1 | | | $ | 82.2 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver
and Expense Reimbursement | | | 2.26 | % (b) | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % | | | 2.25 | % (f) |
Expenses Before Advisory Fee Waiver
and Expense Reimbursement | | | 2.56 | % (b) | | | 2.90 | % | | | 2.67 | % | | | 2.76 | % | | | 2.67 | % | | | 2.47 | % (f) |
Net investment loss | | | (1.30 | )% (b) | | | (0.67 | )% | | | (1.39 | )% | | | (1.48 | )% | | | (1.11 | )% | | | (0.45 | )% |
Portfolio turnover rate | | | 29 | % (c) | | | 33 | % | | | 16 | % | | | 107 | % | | | 76 | % | | | 54 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
181
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class A
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.97 | | | $ | 12.29 | | | $ | 12.21 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.09 | | | | 0.11 | | | | 0.06 | |
Net realized and unrealized gain on investments | | | 1.54 | | | | 0.99 | | | | 0.02 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.63 | | | | 1.10 | | | | 0.08 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.13 | ) | | | (0.14 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.90 | ) | | | (0.42 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.70 | | | $ | 12.97 | | | $ | 12.29 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 13.10 | % | | | 9.09 | % | | | 0.66 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 4.7 | | | $ | 3.6 | | | $ | 1.7 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and
Expense Reimbursement | | | 1.45 | % (b) | | | 1.45 | % | | | 1.45 | % (b) |
Expenses Before Advisory Fee Waiver and
Expense Reimbursement | | | 1.83 | % (b) | | | 1.90 | % | | | 1.93 | % (b) |
Net investment income | | | 1.10 | % (b) | | | 0.91 | % | | | 0.93 | % (b) |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
182
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class B
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.88 | | | $ | 12.20 | | | $ | 12.17 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.03 | | | | 0.03 | | | | 0.01 | |
Net realized and unrealized gain on investments | | | 1.54 | | | | 0.97 | | | | 0.02 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.57 | | | | 1.00 | | | | 0.03 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.03 | ) | | | (0.04 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.80 | ) | | | (0.32 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.65 | | | $ | 12.88 | | | $ | 12.20 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.63 | % | | | 8.28 | % | | | 0.25 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 1.2 | | | $ | 1.0 | | | $ | 0.2 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.20 | % (b) | | | 2.20 | % | | | 2.20 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.58 | % (b) | | | 2.65 | % | | | 2.68 | % (b) |
Net investment income | | | 0.36 | % (b) | | | 0.11 | % | | | 0.15 | % (b) |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
183
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class C
| |
| | | Six Months Ended April 30,
2006
| | | Year Ended October 31,
| | | March 1, 2001 (d) through October 31, 2001 (e)
| |
| | | | 2005
| | | 2004 (e)
| | | 2003 (e)
| | | 2002 (e)
| | |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.88 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.73 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.03 | | | | 0.03 | | | | 0.02 | | | | 0.04 | | | | 0.03 | | | | 0.01 | |
Net realized and unrealized gain (loss) on investments | | | 1.55 | | | | 0.96 | | | | 1.25 | | | | 2.05 | | | | (0.85 | ) | | | (0.28 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.58 | | | | 0.99 | | | | 1.27 | | | | 2.09 | | | | (0.82 | ) | | | (0.27 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.03 | ) | | | (0.01 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.01 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | | | | — | | | | (0.02 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.80 | ) | | | (0.29 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.03 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.66 | | | $ | 12.88 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.73 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.71 | % | | | 8.25 | % | | | 11.64 | % | | | 23.64 | % | | | (8.49 | )% | | | (2.70 | )% |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 9.3 | | | $ | 10.5 | | | $ | 11.3 | | | $ | 14.3 | | | $ | 7.2 | | | $ | 3.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.20 | % (b) | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.58 | % (b) | | | 2.65 | % | | | 2.68 | % | | | 2.72 | % | | | 3.25 | % | | | 4.73 | % (f) |
Net investment income | | | 0.38 | % (b) | | | 0.20 | % | | | 0.15 | % | | | 0.41 | % | | | 0.30 | % | | | 0.22 | % |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % | | | 21 | % | | | 14 | % | | | 9 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
184
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class L (f)
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended October 31,
| | | March 1, 2001 (d) through October 31, 2001 (e)
| |
| | | | 2005
| | | 2004 (e)
| | | 2003 (e)
| | | 2002 (e)
| | |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.93 | | | $ | 12.26 | | | $ | 10.99 | | | $ | 8.92 | | | $ | 9.77 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.06 | | | | 0.09 | | | | 0.07 | | | | 0.10 | | | | 0.08 | | | | 0.05 | |
Net realized and unrealized gain (loss) on investments | | | 1.55 | | | | 0.96 | | | | 1.27 | | | | 2.04 | | | | (0.86 | ) | | | (0.28 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.61 | | | | 1.05 | | | | 1.34 | | | | 2.14 | | | | (0.78 | ) | | | (0.23 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.09 | ) | | | (0.10 | ) | | | (0.07 | ) | | | (0.07 | ) | | | (0.05 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | | | | — | | | | (0.02 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.86 | ) | | | (0.38 | ) | | | (0.07 | ) | | | (0.07 | ) | | | (0.07 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.68 | | | $ | 12.93 | | | $ | 12.26 | | | $ | 10.99 | | | $ | 8.92 | | | $ | 9.77 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 13.01 | % | | | 8.74 | % | | | 12.24 | % | | | 24.15 | % | | | (8.16 | )% | | | (2.20 | )% |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 7.0 | | | $ | 7.1 | | | $ | 8.6 | | | $ | 8.5 | | | $ | 4.5 | | | $ | 1.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.70 | % (b) | | | 1.70 | % | | | 1.70 | % | | | 1.70 | % | | | 1.70 | % | | | 1.70 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.08 | % (b) | | | 2.15 | % | | | 2.18 | % | | | 2.21 | % | | | 2.76 | % | | | 3.95 | % (g) |
Net investment income | | | 0.88 | % (b) | | | 0.71 | % | | | 0.63 | % | | | 0.91 | % | | | 0.75 | % | | | 0.70 | % |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % | | | 21 | % | | | 14 | % | | | 9 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of Operations |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| (f) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
185
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class M (f)
| |
| | | Six Months
Ended
April 30, 2006
| | | Year Ended October 31,
| | | March 1, 2001 (d) through October 31, 2001 (e)
| |
| | | | 2005
| | | 2004 (e)
| | | 2003 (e)
| | | 2002 (e)
| | |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.88 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.74 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
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|
|
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|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.03 | | | | 0.03 | | | | 0.02 | | | | 0.04 | | | | 0.03 | | | | 0.01 | |
Net realized and unrealized gain (loss) on investments | | | 1.54 | | | | 0.97 | | | | 1.25 | | | | 2.05 | | | | (0.86 | ) | | | (0.27 | ) |
| | |
|
|
| |
|
|
| |
|
|
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|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.57 | | | | 1.00 | | | | 1.27 | | | | 2.09 | | | | (0.83 | ) | | | (0.26 | ) |
| | |
|
|
| |
|
|
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|
|
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|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.03 | ) | | | (0.02 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.01 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | | | | — | | | | (0.02 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.80 | ) | | | (0.30 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.03 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.65 | | | $ | 12.88 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.74 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.63 | % | | | 8.31 | % | | | 11.64 | % | | | 23.64 | % | | | (8.58 | )% | | | (2.60 | )% |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 20.6 | | | $ | 20.4 | | | $ | 20.9 | | | $ | 15.3 | | | $ | 9.4 | | | $ | 3.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.20 | % (b) | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.58 | % (b) | | | 2.65 | % | | | 2.68 | % | | | 2.72 | % | | | 3.26 | % | | | 5.57 | % (g) |
Net investment income | | | 0.37 | % (b) | | | 0.20 | % | | | 0.13 | % | | | 0.42 | % | | | 0.29 | % | | | 0.22 | % |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % | | | 21 | % | | | 14 | % | | | 9 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of Operations |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| (f) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
186
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Core Value Fund — Class X
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| | | March 1, 2001 (d) through October 31, 2001 (e)
| |
| | | | 2005
| | | 2004 (e)
| | | 2003 (e)
| | | 2002 (e)
| | |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 12.89 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.73 | | | $ | 10.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.03 | | | | 0.03 | | | | 0.02 | | | | 0.04 | | | | 0.03 | | | | 0.02 | |
Net realized and unrealized gain (loss) on investments | | | 1.54 | | | | 0.97 | | | | 1.25 | | | | 2.05 | | | | (0.85 | ) | | | (0.29 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.57 | | | | 1.00 | | | | 1.27 | | | | 2.09 | | | | (0.82 | ) | | | (0.27 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.03 | ) | | | (0.01 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.01 | ) | | | — | |
Distributions from net realized gains | | | (0.77 | ) | | | (0.28 | ) | | | — | | | | — | | | | (0.02 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.80 | ) | | | (0.29 | ) | | | (0.04 | ) | | | (0.02 | ) | | | (0.03 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.66 | | | $ | 12.89 | | | $ | 12.18 | | | $ | 10.95 | | | $ | 8.88 | | | $ | 9.73 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 12.62 | % | | | 8.33 | % | | | 11.64 | % (f) | | | 23.64 | % (f) | | | (8.49 | )% (f) | | | (2.70 | )% (f) |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 4.2 | | | $ | 4.1 | | | $ | 4.1 | | | $ | 2.8 | | | $ | 2.2 | | | $ | 0.5 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.20 | % (b) | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % | | | 2.20 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.58 | % (b) | | | 2.65 | % | | | 2.68 | % | | | 2.72 | % | | | 3.28 | % | | | 4.75 | % (g) |
Net investment income | | | 0.37 | % (b) | | | 0.19 | % | | | 0.14 | % | | | 0.43 | % | | | 0.30 | % | | | 0.23 | % |
Portfolio turnover rate | | | 9 | % (c) | | | 27 | % | | | 35 | % | | | 21 | % | | | 14 | % | | | 9 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of Operations |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| (f) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
187
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund —Class A
| |
| | | Six Months Ended April 30, 2006 (e)
| | | Year Ended October 31, 2005 (e)
| | | April 12, 2004 (d) through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.53 | | | $ | 8.89 | | | $ | 9.06 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.04 | | | | 0.06 | | | | 0.03 | |
Net realized and unrealized gain (loss) on investments | | | 0.65 | | | | 0.58 | | | | (0.20 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.69 | | | | 0.64 | | | | (0.17 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.08 | ) | | | — | | | | — | * |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.08 | ) | | | — | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 10.14 | | | $ | 9.53 | | | $ | 8.89 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 7.29 | % | | | 7.20 | % | | | (1.86 | )% |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 14.4 | | | $ | 12.5 | | | $ | 0.6 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.25 | % (b) | | | 1.25 | % | | | 1.25 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.55 | % (b) | | | 1.80 | % | | | 1.56 | % (b) |
Net investment income | | | 0.72 | % (b) | | | 0.81 | % | | | 0.60 | % (b) |
Portfolio turnover rate | | | 18 | % (c) | | | 36 | % | | | 29 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
188
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund — Class B
| |
| | | Six Months
Ended April 30, 2006 (e)
| | | Year Ended October 31, 2005 (e)
| | | April 12, 2004 (d) through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.23 | | | $ | 8.67 | | | $ | 8.87 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income (loss) | | | — | * | | | — | * | | | (0.01 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.63 | | | | 0.56 | | | | (0.19 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.63 | | | | 0.56 | | | | (0.20 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.01 | ) | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.01 | ) | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 9.85 | | | $ | 9.23 | | | $ | 8.67 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 6.93 | % | | | 6.46 | % | | | (2.25 | ) % |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 3.3 | | | $ | 3.1 | | | $ | 1.3 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.00 | %(b) | | | 2.00 | % | | | 2.00 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | %(b) | | | 2.55 | % | | | 2.31 | % (b) |
Net investment loss | | | (0.04 | )%(b) | | | (0.03 | )% | | | (0.13 | )% (b) |
Portfolio turnover rate | | | 18 | %(c) | | | 36 | % | | | 29 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
189
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund — Class C
| |
| | | Six Months
Ended April 30, 2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.21 | | | $ | 8.66 | | | $ | 8.16 | | | $ | 6.85 | | | $ | 8.08 | | | $ | 10.20 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | — | * | | | 0.01 | | | | (0.03 | ) | | | (0.01 | ) | | | (0.02 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.65 | | | | 0.54 | | | | 0.53 | | | | 1.32 | | | | (1.21 | ) | | | (2.09 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.65 | | | | 0.55 | | | | 0.50 | | | | 1.31 | | | | (1.23 | ) | | | (2.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 9.85 | | | $ | 9.21 | | | $ | 8.66 | | | $ | 8.16 | | | $ | 6.85 | | | $ | 8.08 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 6.93 | % | | | 6.35 | % | | | 6.13 | % | | | 19.12 | % | | | (15.22 | )% | | | (20.74 | )% |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 23.6 | | | $ | 26.9 | | | $ | 29.6 | | | $ | 36.1 | | | $ | 31.3 | | | $ | 30.6 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.00 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.55 | % | | | 2.31 | % | | | 2.35 | % | | | 2.33 | % | | | 2.35 | % (e) |
Net investment income (loss) | | | (0.03 | )% (b) | | | 0.15 | % | | | (0.30 | )% | | | (0.09 | )% | | | (0.20 | )% | | | (0.26 | )% |
Portfolio turnover rate | | | 18 | % (c) | | | 36 | % | | | 29 | % | | | 39 | % | | | 19 | % | | | 30 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
190
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund — Class L (e)
| |
| | | Six Months
Ended
April 30, 2006 (d)
| | | Year Ended October 31,
| |
| | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.48 | | | $ | 8.87 | | | $ | 8.32 | | | $ | 6.95 | | | $ | 8.15 | | | $ | 10.24 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.02 | | | | 0.07 | | | | 0.02 | | | | 0.03 | | | | 0.02 | | | | 0.02 | |
Net realized and unrealized gain (loss) on investments | | | 0.66 | | | | 0.54 | | | | 0.53 | | | | 1.34 | | | | (1.22 | ) | | | (2.10 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.68 | | | | 0.61 | | | | 0.55 | | | | 1.37 | | | | (1.20 | ) | | | (2.08 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.06 | ) | | | — | * | | | — | * | | | — | | | | — | | | | — | * |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.06 | ) | | | — | * | | | — | * | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 10.10 | | | $ | 9.48 | | | $ | 8.87 | | | $ | 8.32 | | | $ | 6.95 | | | $ | 8.15 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 7.17 | % | | | 6.88 | % | | | 6.63 | % | | | 19.71 | % | | | (14.72 | )% | | | (20.36 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 18.4 | | | $ | 20.5 | | | $ | 24.1 | | | $ | 31.6 | | | $ | 36.1 | | | $ | 24.2 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.50 | % (b) | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.80 | % (b) | | | 2.05 | % | | | 1.81 | % | | | 1.84 | % | | | 1.83 | % | | | 1.86 | % (f) |
Net investment income | | | 0.47 | % (b) | | | 0.68 | % | | | 0.19 | % | | | 0.40 | % | | | 0.30 | % | | | 0.24 | % |
Portfolio turnover rate | | | 18 | % (c) | | | 36 | % | | | 29 | % | | | 39 | % | | | 19 | % | | | 30 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
191
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund — Class M (e)
| |
| | | Six Months
Ended
April 30, 2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.21 | | | $ | 8.66 | | | $ | 8.16 | | | $ | 6.85 | | | $ | 8.08 | | | $ | 10.20 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | — | * | | | 0.01 | | | | (0.03 | ) | | | (0.01 | ) | | | (0.02 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.65 | | | | 0.54 | | | | 0.53 | | | | 1.32 | | | | (1.21 | ) | | | (2.09 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.65 | | | | 0.55 | | | | 0.50 | | | | 1.31 | | | | (1.23 | ) | | | (2.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 9.85 | | | $ | 9.21 | | | $ | 8.66 | | | $ | 8.16 | | | $ | 6.85 | | | $ | 8.08 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 7.04 | % | | | 6.35 | % | | | 6.13 | % | | | 19.12 | % | | | (15.22 | )% | | | (20.74 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 68.9 | | | $ | 74.6 | | | $ | 79.1 | | | $ | 77.5 | | | $ | 64.1 | | | $ | 53.2 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.00 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.55 | % | | | 2.31 | % | | | 2.34 | % | | | 2.33 | % | | | 2.36 | % (f) |
Net investment income (loss) | | | (0.03 | )% (b) | | | 0.14 | % | | | (0.30 | )% | | | (0.10 | )% | | | (0.20 | )% | | | (0.27 | )% |
Portfolio turnover rate | | | 18 | % (c) | | | 36 | % | | | 29 | % | | | 39 | % | | | 19 | % | | | 30 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
192
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Large Cap Core Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006 (d)
| | | Year Ended October 31,
| |
| | | | 2005 (d)
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 9.20 | | | $ | 8.65 | | | $ | 8.15 | | | $ | 6.84 | | | $ | 8.06 | | | $ | 10.20 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | — | * | | | 0.01 | | | | (0.03 | ) | | | (0.01 | ) | | | (0.02 | ) | | | (0.02 | ) |
Net realized and unrealized gain (loss) on investments | | | 0.63 | | | | 0.54 | | | | 0.53 | | | | 1.32 | | | | (1.20 | ) | | | (2.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.63 | | | | 0.55 | | | | 0.50 | | | | 1.31 | | | | (1.22 | ) | | | (2.13 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | | | | (0.01 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 9.82 | | | $ | 9.20 | | | $ | 8.65 | | | $ | 8.15 | | | $ | 6.84 | | | $ | 8.06 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 6.95 | % | | | 6.36 | % | | | 6.14 | % (e) | | | 19.15 | % (e) | | | (15.14 | )% (e) | | | (20.94 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 8.1 | | | $ | 8.7 | | | $ | 7.3 | | | $ | 7.5 | | | $ | 7.0 | | | $ | 5.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.00 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.30 | % (b) | | | 2.55 | % | | | 2.31 | % | | | 2.35 | % | | | 2.33 | % | | | 2.36 | % (f) |
Net investment income (loss) | | | (0.03 | )% (b) | | | 0.11 | % | | | (0.30 | )% | | | (0.09 | )% | | | (0.21 | )% | | | (0.26 | )% |
Portfolio turnover rate | | | 18 | % (c) | | | 36 | % | | | 29 | % | | | 39 | % | | | 19 | % | | | 30 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
193
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class A
| |
| | | Six Months
Ended April 30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.99 | | | $ | 12.99 | | | $ | 13.28 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.04 | | | | 0.13 | | | | 0.04 | |
Net realized and unrealized gain (loss) on investments | | | 1.38 | | | | 1.00 | | | | (0.33 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.42 | | | | 1.13 | | | | (0.29 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.02 | ) | | | (0.13 | ) | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.02 | ) | | | (0.13 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.39 | | | $ | 13.99 | | | $ | 12.99 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.15 | % | | | 8.72 | % | | | (2.18 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 20.0 | | | $ | 14.8 | | | $ | 9.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.42 | % (b) | | | 1.41 | % | | | 1.40 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.48 | % (b) | | | 1.84 | % | | | 1.78 | % (b) |
Net investment income | | | 0.83 | % (b) | | | 0.78 | % | | | 0.59 | % (b) |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
See Notes to Financial Statements.
194
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class B
| |
| | | Six Months
Ended April
30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004 (e)
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.60 | | | $ | 12.63 | | | $ | 12.98 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income (loss) | | | 0.02 | | | | — | * | | | (0.01 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.31 | | | | 0.98 | | | | (0.34 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.33 | | | | 0.98 | | | | (0.35 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.01 | ) | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.01 | ) | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 14.93 | | | $ | 13.60 | | | $ | 12.63 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 9.78 | % | | | 7.77 | % | | | (2.70 | )% |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 3.7 | | | $ | 3.1 | | | $ | 1.1 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.17 | % (b) | | | 2.16 | % | | | 2.15 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.59 | % | | | 2.53 | % (b) |
Net investment income (loss) | | | 0.09 | % (b) | | | (0.04 | )% | | | (0.21 | )% (b) |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
| (e) | Calculations are based on the average daily number of shares outstanding. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
195
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.57 | | | $ | 12.61 | | | $ | 11.57 | | | $ | 9.40 | | | $ | 12.09 | | | $ | 13.67 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | 0.01 | | | | 0.01 | | | | (0.03 | ) | | | (0.02 | ) | | | (0.03 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.32 | | | | 0.96 | | | | 1.07 | | | | 2.19 | | | | (2.36 | ) | | | (0.92 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.33 | | | | 0.97 | | | | 1.04 | | | | 2.17 | | | | (2.39 | ) | | | (0.99 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.01 | ) | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 14.90 | | | $ | 13.57 | | | $ | 12.61 | | | $ | 11.57 | | | $ | 9.40 | | | $ | 12.09 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 9.80 | % | | | 7.70 | % | | | 8.99 | % | | | 23.09 | % | | | (20.39 | )% | | | (7.59 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 51.2 | | | $ | 54.2 | | | $ | 42.5 | | | $ | 53.8 | | | $ | 50.8 | | | $ | 64.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.17 | % (b) | | | 2.16 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.59 | % | | | 2.53 | % | | | 2.59 | % | | | 2.54 | % | | | 2.44 | % (e) |
Net investment income (loss) | | | 0.11 | % (b) | | | 0.14 | % | | | (0.28 | )% | | | (0.17 | )% | | | (0.25 | )% | | | (0.51 | )% |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % | | | 60 | % | | | 88 | % | | | 128 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
196
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.93 | | | $ | 12.96 | | | $ | 11.83 | | | $ | 9.56 | | | $ | 12.23 | | | $ | 13.76 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.07 | | | | 0.08 | | | | 0.03 | | | | 0.03 | | | | 0.03 | | | | — | |
Net realized and unrealized gain (loss) on investments | | | 1.33 | | | | 0.98 | | | | 1.10 | | | | 2.24 | | | | (2.40 | ) | | | (0.94 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.40 | | | | 1.06 | | | | 1.13 | | | | 2.27 | | | | (2.37 | ) | | | (0.94 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | * | | | (0.09 | ) | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | * | | | (0.09 | ) | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 15.33 | | | $ | 13.93 | | | $ | 12.96 | | | $ | 11.83 | | | $ | 9.56 | | | $ | 12.23 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 10.05 | % | | | 8.19 | % | | | 9.55 | % | | | 23.74 | % | | | (19.99 | )% | | | (7.16 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 42.1 | | | $ | 46.3 | | | $ | 41.8 | | | $ | 55.1 | | | $ | 47.6 | | | $ | 66.4 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.67 | % (b) | | | 1.66 | % | | | 1.65 | % | | | 1.65 | % | | | 1.65 | % | | | 1.65 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.73 | % (b) | | | 2.09 | % | | | 2.03 | % | | | 2.09 | % | | | 2.04 | % | | | 1.94 | % (f) |
Net investment income (loss) | | | 0.61 | % (b) | | | 0.67 | % | | | 0.21 | % | | | 0.32 | % | | | 0.25 | % | | | (0.01 | )% |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % | | | 60 | % | | | 88 | % | | | 128 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
197
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.60 | | | $ | 12.63 | | | $ | 11.58 | | | $ | 9.41 | | | $ | 12.10 | | | $ | 13.69 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | 0.01 | | | | 0.01 | | | | (0.03 | ) | | | (0.02 | ) | | | (0.03 | ) | | | (0.07 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.31 | | | | 0.97 | | | | 1.08 | | | | 2.19 | | | | (2.36 | ) | | | (0.93 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.32 | | | | 0.98 | | | | 1.05 | | | | 2.17 | | | | (2.39 | ) | | | (1.00 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.01 | ) | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 14.92 | | | $ | 13.60 | | | $ | 12.63 | | | $ | 11.58 | | | $ | 9.41 | | | $ | 12.10 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 9.71 | % | | | 7.77 | % | | | 9.07 | % | | | 23.06 | % | | | (20.37 | )% | | | (7.65 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 133.1 | | | $ | 143.4 | | | $ | 110.2 | | | $ | 116.2 | | | $ | 106.4 | | | $ | 152.3 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.17 | % (b) | | | 2.16 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.59 | % | | | 2.53 | % | | | 2.59 | % | | | 2.54 | % | | | 2.44 | % (f) |
Net investment income (loss) | | | 0.11 | % (b) | | | 0.13 | % | | | (0.28 | )% | | | (0.17 | )% | | | (0.25 | )% | | | (0.51 | )% |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % | | | 60 | % | | | 88 | % | | | 128 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
198
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Equity Income Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004 (d)
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.57 | | | $ | 12.61 | | | $ | 11.56 | | | $ | 9.39 | | | $ | 12.08 | | | $ | 13.66 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income (loss) | | | 0.01 | | | | 0.01 | | | | (0.03 | ) | | | (0.02 | ) | | | (0.03 | ) | | | (0.06 | ) |
Net realized and unrealized gain (loss) on investments | | | 1.31 | | | | 0.96 | | | | 1.08 | | | | 2.19 | | | | (2.36 | ) | | | (0.93 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 1.32 | | | | 0.97 | | | | 1.05 | | | | 2.17 | | | | (2.39 | ) | | | (0.99 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | — | | | | (0.01 | ) | | | — | | | | — | | | | — | | | | — | |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | — | | | | (0.01 | ) | | | — | | | | — | | | | (0.30 | ) | | | (0.59 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 14.89 | | | $ | 13.57 | | | $ | 12.61 | | | $ | 11.56 | | | $ | 9.39 | | | $ | 12.08 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 9.73 | % | | | 7.70 | % | | | 9.08 | % (e) | | | 23.11 | % (e) | | | (20.41 | )% (e) | | | (7.60 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 37.4 | | | $ | 41.0 | | | $ | 28.5 | | | $ | 28.8 | | | $ | 26.0 | | | $ | 36.3 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.17 | % (b) | | | 2.16 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.23 | % (b) | | | 2.59 | % | | | 2.53 | % | | | 2.59 | % | | | 2.54 | % | | | 2.44 | % (f) |
Net investment income (loss) | | | 0.11 | % (b) | | | 0.13 | % | | | (0.28 | )% | | | (0.17 | )% | | | (0.24 | )% | | | (0.51 | )% |
Portfolio turnover rate | | | 23 | % (c) | | | 66 | % | | | 54 | % | | | 60 | % | | | 88 | % | | | 128 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
199
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class A
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.21 | | | $ | 12.60 | | | $ | 12.58 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.11 | | | | 0.19 | | | | 0.08 | |
Net realized and unrealized gain on investments | | | 0.67 | | | | 0.61 | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.78 | | | | 0.80 | | | | 0.08 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.10 | ) | | | (0.19 | ) | | | (0.06 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.10 | ) | | | (0.19 | ) | | | (0.06 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.89 | | | $ | 13.21 | | | $ | 12.60 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.95 | % | | | 6.32 | % | | | 0.68 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 10.7 | | | $ | 9.1 | | | $ | 4.5 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.41 | % (b) | | | 1.40 | % | | | 1.40 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.58 | % (b) | | | 1.77 | % | | | 1.71 | % (b) |
Net investment income | | | 1.60 | % (b) | | | 1.31 | % | | | 1.24 | % (b) |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
200
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class B
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | April 12, 2004 (d) through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.17 | | | $ | 12.57 | | | $ | 12.54 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.06 | | | | 0.08 | | | | 0.03 | |
Net realized and unrealized gain on investments | | | 0.68 | | | | 0.60 | | | | 0.03 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.74 | | | | 0.68 | | | | 0.06 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.05 | ) | | | (0.08 | ) | | | (0.03 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.05 | ) | | | (0.08 | ) | | | (0.03 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.86 | | | $ | 13.17 | | | $ | 12.57 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.64 | % | | | 5.53 | % | | | 0.39 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 2.5 | | | $ | 2.1 | | | $ | 1.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.16 | % (b) | | | 2.15 | % | | | 2.15 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.33 | % (b) | | | 2.52 | % | | | 2.46 | % (b) |
Net investment income | | | 0.85 | % (b) | | | 0.54 | % | | | 0.49 | % (b) |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
201
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class C
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.16 | | | $ | 12.56 | | | $ | 11.83 | | | $ | 10.47 | | | $ | 11.50 | | | $ | 13.10 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.06 | | | | 0.08 | | | | 0.06 | | | | 0.08 | | | | 0.14 | (e) | | | 0.15 | |
Net realized and unrealized gain (loss) on investments | | | 0.68 | | | | 0.60 | | | | 0.74 | | | | 1.39 | | | | (1.03 | ) (e) | | | (1.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.74 | | | | 0.68 | | | | 0.80 | | | | 1.47 | | | | (0.89 | ) | | | (1.49 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.85 | | | $ | 13.16 | | | $ | 12.56 | | | $ | 11.83 | | | $ | 10.47 | | | $ | 11.50 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.65 | % | | | 5.45 | % | | | 6.80 | % | | | 14.16 | % | | | (7.87 | )% | | | (11.44 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 12.9 | | | $ | 13.9 | | | $ | 18.4 | | | $ | 23.4 | | | $ | 22.2 | | | $ | 32.3 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.16 | % (b) | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.33 | % (b) | | | 2.55 | % | | | 2.46 | % | | | 2.51 | % | | | 2.45 | % | | | 2.41 | % (f) |
Net investment income | | | 0.85 | % (b) | | | 0.61 | % | | | 0.44 | % | | | 0.75 | % | | | 1.21 | %(e) | | | 1.22 | % |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % | | | 129 | % | | | 119 | % | | | 122 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | The reclassification of paydown gains and losses as discussed in Note 2 of the Notes to Financial had a (0.01) per share effect for American Century Strategic Balanced and no per share effect for PIMCO Total Return Bond. For American Century Strategic and PIMCO Total Return Bond the Ratio of Net Investment Income (Loss) would have been 1.64%, 1.14%, 1.14%, and 1.14%, and 3.19%, 2.70%, 2.69%, and 2.71% for Class A, Class B, Class C, and Class X, respectively, without the reclassification of paydown gains and losses for the year ended 10/31/02. Ratios for prior periods have not been restated to reflect this change. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
202
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.19 | | | $ | 12.60 | | | $ | 11.87 | | | $ | 10.50 | | | $ | 11.54 | | | $ | 13.14 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.09 | | | | 0.14 | | | | 0.11 | | | | 0.13 | | | | 0.19 | (f) | | | 0.21 | |
Net realized and unrealized gain (loss) on investments | | | 0.69 | | | | 0.61 | | | | 0.75 | | | | 1.41 | | | | (1.04 | ) (f) | | | (1.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.78 | | | | 0.75 | | | | 0.86 | | | | 1.54 | | | | (0.85 | ) | | | (1.43 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.09 | ) | | | (0.16 | ) | | | (0.13 | ) | | | (0.17 | ) | | | (0.19 | ) | | | (0.17 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.09 | ) | | | (0.16 | ) | | | (0.13 | ) | | | (0.17 | ) | | | (0.19 | ) | | | (0.17 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.88 | | | $ | 13.19 | | | $ | 12.60 | | | $ | 11.87 | | | $ | 10.50 | | | $ | 11.54 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.90 | % | | | 5.95 | % | | | 7.30 | % | | | 14.79 | % | | | (7.46 | )% | | | (10.96 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 14.1 | | | $ | 15.3 | | | $ | 22.7 | | | $ | 31.5 | | | $ | 29.8 | | | $ | 37.5 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.66 | % (b) | | | 1.65 | % | | | 1.65 | % | | | 1.65 | % | | | 1.65 | % | | | 1.65 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.83 | % (b) | | | 2.05 | % | | | 1.96 | % | | | 2.01 | % | | | 1.96 | % | | | 1.91 | % (g) |
Net investment income | | | 1.35 | % (b) | | | 1.12 | % | | | 0.93 | % | | | 1.25 | % | | | 1.71 | % (f) | | | 1.71 | % |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % | | | 129 | % | | | 119 | % | | | 122 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | The reclassification of paydown gains and losses as discussed in Note 2 of the Notes to Financial had a (0.01) per share effect for American Century Strategic Balanced and no per share effect for PIMCO Total Return Bond. For American Century Strategic and PIMCO Total Return Bond the Ratio of Net Investment Income (Loss) would have been 1.64%, 1.14%, 1.14%, and 1.14%, and 3.19%, 2.70%, 2.69%, and 2.71% for Class A, Class B, Class C, and Class X, respectively, without the reclassification of paydown gains and losses for the year ended 10/31/02. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
203
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class M (e)
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.17 | | | $ | 12.56 | | | $ | 11.84 | | | $ | 10.47 | | | $ | 11.50 | | | $ | 13.10 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.06 | | | | 0.08 | | | | 0.06 | | | | 0.08 | | | | 0.14 | (f) | | | 0.15 | |
Net realized and unrealized gain (loss) on investments | | | 0.67 | | | | 0.61 | | | | 0.73 | | | | 1.40 | | | | (1.03 | ) (f) | | | (1.64 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.73 | | | | 0.69 | | | | 0.79 | | | | 1.48 | | | | (0.89 | ) | | | (1.49 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.85 | | | $ | 13.17 | | | $ | 12.56 | | | $ | 11.84 | | | $ | 10.47 | | | $ | 11.50 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.57 | % | | | 5.53 | % | | | 6.71 | % | | | 14.25 | % | | | (7.87 | )% | | | (11.44 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 49.4 | | | $ | 55.1 | | | $ | 68.4 | | | $ | 69.7 | | | $ | 67.1 | | | $ | 86.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.16 | % (b) | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.33 | % (b) | | | 2.55 | % | | | 2.46 | % | | | 2.51 | % | | | 2.46 | % | | | 2.41 | % (g) |
Net investment income | | | 0.85 | % (b) | | | 0.61 | % | | | 0.44 | % | | | 0.75 | % | | | 1.21 | % (f) | | | 1.22 | % |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % | | | 129 | % | | | 119 | % | | | 122 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | The reclassification of paydown gains and losses as discussed in Note 2 of the Notes to Financial had a (0.01) per share effect for American Century Strategic Balanced and no per share effect for PIMCO Total Return Bond. For American Century Strategic and PIMCO Total Return Bond the Ratio of Net Investment Income (Loss) would have been 1.64%, 1.14%, 1.14%, and 1.14%, and 3.19%, 2.70%, 2.69%, and 2.71% for Class A, Class B, Class C, and Class X, respectively, without the reclassification of paydown gains and losses for the year ended 10/31/02. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
204
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Balanced Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended
October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 13.16 | | | $ | 12.55 | | | $ | 11.83 | | | $ | 10.47 | | | $ | 11.50 | | | $ | 13.09 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.06 | | | | 0.08 | | | | 0.06 | | | | 0.08 | | | | 0.14 | (f) | | | 0.15 | |
Net realized and unrealized gain (loss) on investments | | | 0.67 | | | | 0.61 | | | | 0.73 | | | | 1.39 | | | | (1.03 | )(f) | | | (1.63 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.73 | | | | 0.69 | | | | 0.79 | | | | 1.47 | | | | (0.89 | ) | | | (1.48 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.05 | ) | | | (0.08 | ) | | | (0.07 | ) | | | (0.11 | ) | | | (0.14 | ) | | | (0.11 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 13.84 | | | $ | 13.16 | | | $ | 12.55 | | | $ | 11.83 | | | $ | 10.47 | | | $ | 11.50 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.57 | % | | | 5.53 | % | | | 6.71 | % (e) | | | 14.26 | % (e) | | | (7.96 | )% (e) | | | (11.38 | )% (e) |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 11.7 | | | $ | 12.9 | | | $ | 15.9 | | | $ | 16.3 | | | $ | 16.0 | | | $ | 21.1 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.16 | % (b) | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % | | | 2.15 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.33 | % (b) | | | 2.55 | % | | | 2.46 | % | | | 2.51 | % | | | 2.46 | % | | | 2.41 | % (g) |
Net investment income | | | 0.85 | % (b) | | | 0.60 | % | | | 0.44 | % | | | 0.75 | % | | | 1.21 | % (f) | | | 1.22 | % |
Portfolio turnover rate | | | 82 | % (c) | | | 196 | % | | | 216 | % | | | 129 | % | | | 119 | % | | | 122 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | The reclassification of paydown gains and losses as discussed in Note 2 of the Notes to Financial had a (0.01) per share effect for American Century Strategic Balanced and no per share effect for PIMCO Total Return Bond. For American Century Strategic and PIMCO Total Return Bond the Ratio of Net Investment Income (Loss) would have been 1.64%, 1.14%, 1.14%, and 1.14%, and 3.19%, 2.70%, 2.69%, and 2.71% for Class A, Class B, Class C, and Class X, respectively, without the reclassification of paydown gains and losses for the year ended 10/31/02. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
205
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class A
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (d)
through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.08 | | | $ | 7.52 | | | $ | 7.37 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.27 | | | | 0.54 | | | | 0.29 | |
Net realized and unrealized gain (loss) on investments | | | 0.13 | | | | (0.43 | ) | | | 0.16 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.40 | | | | 0.11 | | | | 0.45 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.27 | ) | | | (0.55 | ) | | | (0.30 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.27 | ) | | | (0.55 | ) | | | (0.30 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.21 | | | $ | 7.08 | | | $ | 7.52 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.71 | % | | | 1.48 | % | | | 6.47 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 7.9 | | | $ | 6.6 | | | $ | 7.6 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.26 | % (b) | | | 1.25 | % | | | 1.25 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.56 | % (b) | | | 1.56 | % | | | 1.46 | % (b) |
Net investment income | | | 7.42 | % (b) | | | 7.30 | % | | | 7.05 | % (b) |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
206
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class B
| |
| | | Six Months Ended April 30, 2006
| | | Year Ended October 31, 2005
| | | April 12, 2004 (d) through October 31, 2004
| |
Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.08 | | | $ | 7.51 | | | $ | 7.36 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.25 | | | | 0.49 | | | | 0.26 | |
Net realized and unrealized gain (loss) on investments | | | 0.12 | | | | (0.42 | ) | | | 0.16 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.37 | | | | 0.07 | | | | 0.42 | |
| | |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.25 | ) | | | (0.50 | ) | | | (0.27 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.25 | ) | | | (0.50 | ) | | | (0.27 | ) |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.20 | | | $ | 7.08 | | | $ | 7.51 | |
| | |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.18 | % | | | 0.86 | % | | | 6.04 | % |
| | | |
Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 1.9 | | | $ | 1.7 | | | $ | 0.1 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 2.00 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.31 | % (b) | | | 2.31 | % | | | 2.21 | % (b) |
Net investment income | | | 6.64 | % (b) | | | 6.59 | % | | | 6.30 | % (b) |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % (c) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Commencement of operations. |
See Notes to Financial Statements.
207
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class C
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.08 | | | $ | 7.51 | | | $ | 7.23 | | | $ | 6.26 | | | $ | 6.96 | | | $ | 8.02 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.25 | | | | 0.49 | | | | 0.46 | | | | 0.50 | | | | 0.55 | (e) | | | 0.71 | |
Net realized and unrealized gain (loss) on investments | | | 0.12 | | | | (0.42 | ) | | | 0.31 | | | | 0.98 | | | | (0.68 | ) (e) | | | (1.06 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.37 | | | | 0.07 | | | | 0.77 | | | | 1.48 | | | | (0.13 | ) | | | (0.35 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.20 | | | $ | 7.08 | | | $ | 7.51 | | | $ | 7.23 | | | $ | 6.26 | | | $ | 6.96 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.33 | % | | | 0.72 | % | | | 10.96 | % | | | 24.34 | % | | | (2.24 | )% | | | (4.58 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 14.7 | | | $ | 14.2 | | | $ | 26.3 | | | $ | 37.1 | | | $ | 22.9 | | | $ | 16.6 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.31 | % (b) | | | 2.31 | % | | | 2.21 | % | | | 2.18 | % | | | 2.23 | % | | | 2.33 | % (f) |
Net investment income | | | 6.66 | % (b) | | | 6.57 | % | | | 6.37 | % | | | 7.19 | % | | | 8.08 | % (e) | | | 9.33 | % |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % | | | 48 | % | | | 35 | % | | | 31 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | The adoption of the change in amortization method as discussed in Note 2 of the Notes to Financials Statements had a 0.01 per share effect for Federated High Yield Bond. Without the change in amortization method the Net Investment Income Ratio would have been 8.71%, 8.23%, 8.21%, and 8.25% for Class A, Class B, Class C, and Class X, respectively. Ratios for prior periods have not been restated to reflect this change. |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
208
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class L (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.08 | | | $ | 7.51 | | | $ | 7.23 | | | $ | 6.26 | | | $ | 6.96 | | | $ | 8.02 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.27 | | | | 0.53 | | | | 0.49 | | | | 0.53 | | | | 0.59 | (f) | | | 0.75 | |
Net realized and unrealized gain (loss) on investments | | | 0.12 | | | | (0.42 | ) | | | 0.31 | | | | 0.98 | | | | (0.69 | ) (f) | | | (1.06 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.39 | | | | 0.11 | | | | 0.80 | | | | 1.51 | | | | (0.10 | ) | | | (0.31 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.27 | ) | | | (0.54 | ) | | | (0.52 | ) | | | (0.54 | ) | | | (0.60 | ) | | | (0.75 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.27 | ) | | | (0.54 | ) | | | (0.52 | ) | | | (0.54 | ) | | | (0.60 | ) | | | (0.75 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.20 | | | $ | 7.08 | | | $ | 7.51 | | | $ | 7.23 | | | $ | 6.26 | | | $ | 6.96 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 5.44 | % | | | 1.37 | % | | | 11.50 | % | | | 24.96 | % | | | (1.75 | )% | | | (4.10 | )% |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 10.6 | | | $ | 12.1 | | | $ | 23.3 | | | $ | 36.4 | | | $ | 23.6 | | | $ | 26.4 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.51 | % (b) | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % | | | 1.50 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.81 | % (b) | | | 1.81 | % | | | 1.71 | % | | | 1.68 | % | | | 1.74 | % | | | 1.82 | % (g) |
Net investment income | | | 7.17 | % (b) | | | 7.07 | % | | | 6.86 | % | | | 7.63 | % | | | 8.58 | % (f) | | | 9.77 | % |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % | | | 48 | % | | | 35 | % | | | 31 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (f) | The adoption of the change in amortization method as discussed in Note 2 of the Notes to Financials Statements had a 0.01 per share effect for Federated High Yield Bond. Without the change in amortization method the Net Investment Income Ratio would have been 8.71%, 8.23%, 8.21%, and 8.25% for Class A, Class B, Class C, and Class X, respectively. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
209
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class M (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.07 | | | $ | 7.50 | | | $ | 7.22 | | | $ | 6.25 | | | $ | 6.96 | | | $ | 8.02 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.25 | | | | 0.49 | | | | 0.46 | | | | 0.50 | | | | 0.55 | (f) | | | 0.71 | |
Net realized and unrealized gain (loss) on investments | | | 0.12 | | | | (0.42 | ) | | | 0.31 | | | | 0.98 | | | | (0.69 | ) (f) | | | (1.06 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.37 | | | | 0.07 | | | | 0.77 | | | | 1.48 | | | | (0.14 | ) | | | (0.35 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.19 | | | $ | 7.07 | | | $ | 7.50 | | | $ | 7.22 | | | $ | 6.25 | | | $ | 6.96 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 5.18 | % | | | 0.85 | % | | | 10.96 | % | | | 24.37 | % | | | (2.39 | )% | | | (4.58 | )% |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 60.5 | | | $ | 67.9 | | | $ | 105.8 | | | $ | 128.0 | | | $ | 83.3 | | | $ | 80.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.31 | % (b) | | | 2.31 | % | | | 2.21 | % | | | 2.18 | % | | | 2.23 | % | | | 2.33 | % (g) |
Net investment income | | | 6.69 | % (b) | | | 6.59 | % | | | 6.38 | % | | | 7.19 | % | | | 8.10 | % (f) | | | 9.40 | % |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % | | | 48 | % | | | 35 | % | | | 31 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (f) | The adoption of the change in amortization method as discussed in Note 2 of the Notes to Financials Statements had a 0.01 per share effect for Federated High Yield Bond. Without the change in amortization method the Net Investment Income Ratio would have been 8.71%, 8.23%, 8.21%, and 8.25% for Class A, Class B, Class C, and Class X, respectively. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
210
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners High Yield Bond Fund — Class X
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (d)
| | | 2002 (d)
| | | 2001 (d)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 7.07 | | | $ | 7.50 | | | $ | 7.22 | | | $ | 6.25 | | | $ | 6.95 | | | $ | 8.01 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.25 | | | | 0.49 | | | | 0.46 | | | | 0.50 | | | | 0.55 | (f) | | | 0.71 | |
Net realized and unrealized gain (loss) on investments | | | 0.12 | | | | (0.42 | ) | | | 0.31 | | | | 0.98 | | | | (0.68 | ) (f) | | | (1.06 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.37 | | | | 0.07 | | | | 0.77 | | | | 1.48 | | | | (0.13 | ) | | | (0.35 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
Distributions from net realized gains | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.25 | ) | | | (0.50 | ) | | | (0.49 | ) | | | (0.51 | ) | | | (0.57 | ) | | | (0.71 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 7.19 | | | $ | 7.07 | | | $ | 7.50 | | | $ | 7.22 | | | $ | 6.25 | | | $ | 6.95 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 5.17 | % | | | 0.85 | % | | | 11.11 | % (e) | | | 24.20 | % (e) | | | (2.25 | )% (e) | | | (4.59 | )% (e) |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 9.5 | | | $ | 10.7 | | | $ | 14.7 | | | $ | 15.3 | | | $ | 12.9 | | | $ | 14.8 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % | | | 2.00 | % (g) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.31 | % (b) | | | 2.31 | % | | | 2.21 | % | | | 2.18 | % | | | 2.24 | % | | | 2.34 | % (g) |
Net investment income | | | 6.63 | % (b) | | | 6.58 | % | | | 6.37 | % | | | 7.24 | % | | | 8.12 | % (f) | | | 9.46 | % |
Portfolio turnover rate | | | 44 | % (c) | | | 22 | % | | | 49 | % | | | 48 | % | | | 35 | % | | | 31 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (d) | Calculations are based on the average daily number of shares outstanding. |
| (e) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (f) | The adoption of the change in amortization method as discussed in Note 2 of the Notes to Financials Statements had a 0.01 per share effect for Federated High Yield Bond. Without the change in amortization method the Net Investment Income Ratio would have been 8.71%, 8.23%, 8.21%, and 8.25% for Class A, Class B, Class C, and Class X, respectively. Ratios for prior periods have not been restated to reflect this change. |
| (g) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
See Notes to Financial Statements.
211
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | |
| | | Strategic Partners Money Market Fund — Class A
| |
| | | Six Months Ended April 30, 2006
| | | August 12, 2005 (c) through October 31, 2005
| |
| Per Share Operating Performance: | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | |
Net investment income | | | 0.016 | | | | 0.005 | |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * |
| | |
|
|
| |
|
|
|
Total from investment operations | | | 0.016 | | | | 0.005 | |
| | |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | |
Dividends from net investment income | | | (0.016 | ) | | | (0.005 | ) |
Distributions from net realized gains | | | — | | | | — | |
| | |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.016 | ) | | | (0.005 | ) |
| | |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 1.60 | % | | | 0.53 | % |
| | |
| Ratios/Supplemental Data: | | | | | | | | |
Net assets, end of period (in millions) | | $ | 1.1 | | | $ | 0.3 | |
Ratios to average net assets: | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.14 | % (b) | | | 1.25 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.51 | % (b) | | | 1.44 | % (b) |
Net investment income | | | 3.47 | % (b) | | | 0.59 | % (b) |
Portfolio turnover rate | | | N/A | | | | N/A | |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Commencement of operations. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
212
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Money Market Fund — Class C (d)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (c)
| | | 2002 (c)
| | | 2001 (c)
| |
| Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
Distributions from net realized gains | | | — | | | | — | * | | | — | | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 1.23 | % | | | 0.92 | % | | | 0.00 | % | | | 0.00 | % | | | 0.15 | % | | | 3.09 | % |
| | | | | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 9.6 | | | $ | 12.3 | | | $ | 22.1 | | | $ | 45.7 | | | $ | 73.8 | | | $ | 73.3 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 1.23 | % | | | 1.32 | % | | | 1.89 | % | | | 1.91 | % (e) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.38 | % (b) | | | 2.26 | % | | | 1.90 | % | | | 1.92 | % | | | 1.96 | % | | | 1.91 | % (e) |
Net investment income | | | 2.45 | % (b) | | | 0.84 | % | | | 0.01 | % | | | — | † | | | 0.13 | % | | | 2.95 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Calculations are based on the average daily number of shares outstanding. |
| (d) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (e) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
| † | Amount is less than 0.005%. |
See Notes to Financial Statements.
213
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | |
| | | Strategic Partners Money Market Fund — Class D
| |
| | | Six Months
Ended April 30,
2006
| | | Year Ended
October 31,
2005
| | | April 12, 2004 (c)
through October 31, 2004
| |
| Per Share Operating Performance: | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | |
Net investment income | | | 0.015 | | | | 0.014 | | | | — | * |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.015 | | | | 0.014 | | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
|
| Less Dividends and Distributions: | | | | | | | | | | | | |
Dividends from net investment income | | | (0.015 | ) | | | (0.014 | ) | | | — | * |
Distributions from net realized gains | | | — | | | | — | * | | | — | |
| | |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.015 | ) | | | (0.014 | ) | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
|
| Total Investment Return (a) | | | 1.48 | % | | | 1.42 | % | | | 0.29 | % |
| | | |
| Ratios/Supplemental Data: | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 11.1 | | | $ | 13.0 | | | $ | 16.0 | |
Ratios to average net assets: | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.51 | % (b) | | | 1.50 | % | | | 0.83 | % (b) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.88 | % (b) | | | 1.77 | % | | | 1.38 | % (b) |
Net investment income | | | 2.95 | % (b) | | | 1.39 | % | | | 0.51 | % (b) |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Commencement of operations. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
214
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Money Market Fund — Class L (d)(e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (c)
| | | 2002 (c)
| | | 2001 (c)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.015 | | | | 0.014 | | | | 0.010 | | | | 0.005 | | | | 0.006 | | | | 0.040 | |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.015 | | | | 0.014 | | | | 0.010 | | | | 0.005 | | | | 0.006 | | | | 0.040 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.015 | ) | | | (0.014 | ) | | | (0.010 | ) | | | (0.005 | ) | | | (0.006 | ) | | | (0.040 | ) |
Distributions from net realized gains | | | — | | | | — | * | | | — | | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.015 | ) | | | (0.014 | ) | | | (0.010 | ) | | | (0.005 | ) | | | (0.006 | ) | | | (0.040 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, end of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 1.48 | % | | | 1.42 | % | | | 0.50 | % | | | 0.50 | % | | | 0.65 | % | | | 3.61 | % |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 14.7 | | | $ | 21.2 | | | $ | 44.8 | | | $ | 103.2 | | | $ | 135.0 | | | $ | 176.7 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 1.51 | % (b) | | | 1.50 | % | | | 0.72 | % | | | 0.80 | % | | | 1.39 | % | | | 1.41 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 1.88 | % (b) | | | 1.77 | % | | | 1.40 | % | | | 1.42 | % | | | 1.46 | % | | | 1.41 | % (f) |
Net investment income | | | 2.95 | % (b) | | | 1.25 | % | | | 0.50 | % | | | 0.50 | % | | | 0.66 | % | | | 3.55 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Calculations are based on the average daily number of shares outstanding. |
| (d) | Prior to April 12, 2004, Class L shares were known as Class A shares. On April 12, 2004, Class A shares were redesignated as Class L shares and a new Class A was opened. |
| (e) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
See Notes to Financial Statements.
215
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Money Market Fund — Class M (d)(e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (c)
| | | 2002 (c)
| | | 2001 (c)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total from investment operations | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
Distributions from net realized gains | | | — | | | | — | * | | | — | | | | — | * | | | — | * | | | — | * |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total dividends and distributions | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Total Investment Return (a) | | | 1.23 | % | | | 0.92 | % | | | 0.00 | % | | | 0.00 | % | | | 0.15 | % | | | 3.09 | % |
| | | | | | |
Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 44.6 | | | $ | 60.9 | | | $ | 79.9 | | | $ | 120.2 | | | $ | 157.9 | | | $ | 148.0 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 1.25 | % | | | 1.31 | % | | | 1.89 | % | | | 1.91 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.38 | % (b) | | | 2.27 | % | | | 1.91 | % | | | 1.92 | % | | | 1.96 | % | | | 1.91 | % (f) |
Net investment income | | | 2.45 | % (b) | | | 0.85 | % | | | 0.01 | % | | | — | † | | | 0.14 | % | | | 2.78 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Calculations are based on the average daily number of shares outstanding. |
| (d) | Prior to April 12, 2004, Class M shares were known as Class B shares. On April 12, 2004, Class B shares were redesignated as Class M shares and a new Class B was opened. |
| (e) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
| † | Amount is less than 0.005%. |
See Notes to Financial Statements.
216
Financial Highlights (Unaudited)
Per Share Data
(for a Share Outstanding Throughout Each Period)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Strategic Partners Money Market Fund — Class X (e)
| |
| | | Six Months
Ended
April 30,
2006
| | | Year Ended October 31,
| |
| | | | 2005
| | | 2004
| | | 2003 (c)
| | | 2002 (c)
| | | 2001 (c)
| |
Per Share Operating Performance: | | | | | | | | | | | | | | | | | | | | | | | | |
Net Asset Value, beginning of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
| | |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Income From Investment Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
Net realized and unrealized gain (loss) on investments | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * | | | — | * |
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Total from investment operations | | | 0.012 | | | | 0.009 | | | | — | * | | | — | * | | | 0.001 | | | | 0.030 | |
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Less Dividends and Distributions: | | | | | | | | | | | | | | | | | | | | | | | | |
Dividends from net investment income | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
Distributions from net realized gains | | | — | | | | — | * | | | — | | | | — | * | | | — | * | | | — | * |
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Total dividends and distributions | | | (0.012 | ) | | | (0.009 | ) | | | — | * | | | — | * | | | (0.001 | ) | | | (0.030 | ) |
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Net Asset Value, end of period | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | | | $ | 1.00 | |
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Total Investment Return (a) | | | 1.23 | % | | | 0.92 | % | | | 0.00 | % (d) | | | 0.00 | % (d) | | | 0.15 | % (d) | | | 3.09 | % (d) |
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Ratios/Supplemental Data: | | | | | | | | | | | | | | | | | | | | | | | | |
Net assets, end of period (in millions) | | $ | 11.0 | | | $ | 13.8 | | | $ | 16.8 | | | $ | 24.9 | | | $ | 32.6 | | | $ | 30.9 | |
Ratios to average net assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses After Advisory Fee Waiver and Expense Reimbursement | | | 2.01 | % (b) | | | 2.00 | % | | | 1.25 | % | | | 1.30 | % | | | 1.89 | % | | | 1.91 | % (f) |
Expenses Before Advisory Fee Waiver and Expense Reimbursement | | | 2.38 | % (b) | | | 2.27 | % | | | 1.91 | % | | | 1.92 | % | | | 1.96 | % | | | 1.91 | % (f) |
Net investment income | | | 2.45 | % (b) | | | 0.88 | % | | | 0.01 | % | | | — | † | | | 0.14 | % | | | 2.95 | % |
| (a) | Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of shares on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions. Total return for periods of less than a full year are not annualized. Total return includes the effect of expense subsidies. |
| (c) | Calculations are based on the average daily number of shares outstanding. |
| (d) | Total return for Class X shares does not reflect the payment of bonus shares. |
| (e) | For the periods ended 10/31/01, 10/31/02, and 10/31/03 the Portfolio Turnover Rate, Ratios of Expenses and Ratios of Net Investment Income (Loss) represent the combined ratios for the respective Fund and its respective pro rata share of its Master Portfolio. On 9/27/02 these Funds withdrew their net assets-in-kind from its corresponding ASMT Portfolio. (See Note 1 in Notes to Financial Statements). |
| (f) | Includes commissions received by American Skandia Marketing, Incorporated under the Fund’s Supplemental Distribution Plan. The Supplemental Distribution Plan was terminated by the Board of Directors of the Fund effective June 27, 2001. |
| * | Amount is less than $0.005. |
| † | Amount is less than 0.005%. |
See Notes to Financial Statements.
217
Supplemental Proxy Information
Strategic Partners Mutual Funds, Inc.: Proxy Results to be Included in 5/30/06 Shareholder Report
| | 1. | To approve a Plan of Reorganization whereby all of the assets and liabilities of Strategic Partners Technology Fund will be transferred to, and assumed by, Jennison U.S. Emerging Growth Fund, Inc. (Jennison Fund), in exchange for shares of the Jennison Fund and the cancellation of all of the shares of Strategic Partners Technology Fund. |
Shareholder Meeting Date: May 19, 2006
Voting Results:
| | | | |
For: | | 2,407,718 | | |
Against: | | 87,178 | | |
Abstain: | | 87,844 | | |
| | 2. | To approve a Plan of Reorganization whereby all of the assets and liabilities of Strategic Partners Managed OTC Fund will be transferred to, and assumed by, Jennison Fund, in exchange for shares of the Jennison Fund and the cancellation of all of the shares of Strategic Partners Managed OTC Fund. |
Shareholder Meeting Date: May 19, 2006
Voting Results:
| | | | |
For: | | 4,317,579 | | |
Against: | | 145,647 | | |
Abstain: | | 236,011 | | |
See Notes to Financial Statements.
218
Approval of Advisory Agreement
The Board of Directors (the “Board”) of Strategic Partners Mutual Funds, Inc. (the “Company”) oversees the management of each of the Company’s Funds, and, as required by law, is responsible for the approval of each Fund’s investment advisory agreements. At a meeting held on March 9, 2006, the Board met and approved a new investment subadvisory agreement for the Strategic Partners High Yield Bond Fund (the “Fund”). The material factors and conclusions that formed the basis for the Directors’ determinations to approve the agreement are discussed separately below.
Pursuant to recommendations from Prudential Investments LLC and American Skandia Investment Services, Inc. (collectively “PI”), the Board approved a new investment subadvisory agreement with Pacific Investment Management Company LLC (“PIMCO”). PI recommended that the Board approve PIMCO as an additional subadvisor to join the Fund’s existing subadvisor, Goldman Sachs Asset Management, L.P. (“GSAM”). PI recommended the addition of PIMCO to provide the Fund with an alternative portfolio structure that is expected to provide greater flexibility in managing the Fund’s cash flows.
Nature, Quality and Extent of Services
The Board received and considered information regarding the nature and extent of services provided to the Fund by GSAM under the current subadvisory agreement and those that would be provided to the Fund by PIMCO under the new subadvisory agreement. The Board considered PI’s representation that the nature and extent of services under the existing and new agreements were generally similar in that the current subadvisor and PIMCO are each required to provide day-to-day portfolio management services and comply with all Company policies and applicable rules and regulations.
With respect to the quality of services, the Board considered, among other things, the background and experience of PIMCO’s portfolio management team. The Board had previously met in person with representatives of PIMCO and reviewed the qualifications, backgrounds and responsibilities of the portfolio managers who would be responsible for the day-to-day management of the Fund. The Board was also provided with information pertaining to PIMCO’s organizational structure, senior management, investment operations, and other relevant information pertaining to PIMCO. The Board noted that it received favorable compliance reports from the Company’s Chief Compliance Officer (CCO) as to PIMCO, summarizing his level of comfort from a compliance perspective with respect to PI’s recommendation to hire PIMCO.
The Board concluded that it was satisfied with the nature, extent and quality of the investment subadvisory services anticipated to be provided to the Fund by PIMCO and that there was a reasonable basis on which to conclude that the quality of investment subadvisory services to be provided by PIMCO would likely be high.
Performance of the Fund
Because PIMCO would be a new subadvisor to the Fund, the Board did not have a performance record to evaluate PIMCO’s performance as a subadvisor to the Fund.
The Board did receive and consider information regarding the performance of other investment companies managed by PIMCO utilizing an investment style and strategy similar to that proposed for the Fund.
Investment Subadvisory Fee Rate
The Board considered the proposed subadvisory fee rate payable by PI to PIMCO under the proposed new subadvisory agreement. The Board also considered the fee rate payable to PIMCO by other funds with investment objectives similar to that of the Fund. The Board noted that the subadvisory fee payable to PIMCO, equal to 0.25% annually of the portion of the Fund’s assets subadvised by PIMCO, would not impact Fund shareholders directly because those fees are payable
| | |
| Strategic Partners Mutual Funds, Inc. | | 219 |
Approval of Advisory Agreement (continued)
by PI and there would be no change to the investment advisory fee rate payable by the Fund to PI. As a result of the above considerations, the Board concluded that PIMCO’s proposed subadvisory fee rate under the new subadvisory agreement was reasonable. The Board noted that the subadvisory fee payable to GSAM, which is also paid by PI and not directly by the Fund, is equal to 0.30% annually of the portion of the Fund’s assets subadvised by GSAM.
Subadvisor’s Profitability
Because PIMCO had not previously served as a subadvisor to the Fund, there was no profitability data for the Board to consider.
Economies of Scale
The Board considered information about the potential of PI and PIMCO to experience economies of scale as the Fund grows in size. The Board noted that although neither PIMCO’s nor GSAM’s subadvisory fee rate for the Fund contained breakpoints, the Fund’s advisory fee rate contained breakpoints, and accordingly reflected the potential for the Fund to share with PI in economies of scale.
Other Benefits to the Subadvisor or Its Affiliates from Serving as Subadvisor
The Board considered potential “fall-out” or ancillary benefits anticipated to be received by PIMCO and its affiliates as a result of PIMCO’s relationship with the Fund. The Board concluded that such potential benefits to be derived by PIMCO might include access to additional research resources and reputational benefits, which were consistent with those generally derived by subadvisors to mutual funds.
| | |
| 220 | | Visit our website at www.strategicpartners.com |
| | | | |
| n MAIL | | n TELEPHONE | | n WEBSITE |
Gateway Center Three 100 Mulberry Street Newark, NJ 07102 | | (800) 225-1852 | | www.strategicpartners.com |
|
| PROXY VOTING |
The Board of Directors of the Funds has delegated to the Funds’ investment subadvisors the responsibility for voting any proxies and maintaining proxy recordkeeping with respect to the Funds. A description of these proxy voting policies and procedures is available without charge, upon request, by calling (800) 225-1852 or by visiting the Securities and Exchange Commission’s website at www.sec.gov. Information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Funds’ website and on the Commission’s website. |
|
| DIRECTORS |
Linda W. Bynoe • David E.A. Carson • Robert F. Gunia • Robert E. La Blanc • Douglas H. McCorkindale • Richard A. Redeker • Judy A. Rice • Robin B. Smith • Stephen G. Stoneburn • Clay T. Whitehead |
|
| OFFICERS |
Judy A. Rice, President • Robert F. Gunia, Vice President • Grace C. Torres, Treasurer and Principal Financial and Accounting Officer • Jack Benintende, Assistant Treasurer • M. Sadiq Peshimam, Assistant Treasurer •Kathryn L. Quirk, Chief Legal Officer • Deborah A. Docs, Secretary • Jonathan D. Shain, Assistant Secretary • Claudia DiGiacomo, Assistant Secretary • John P. Schwartz, Assistant Secretary • Helene Gurian, Acting Anti-Money Laundering Compliance Officer • Lee D. Augsburger, Chief Compliance Officer |
| | | | |
| CO-MANAGERS | | Prudential Investments LLC | | Gateway Center Three
100 Mulberry Street
Newark, NJ 07102 |
|
| | | American Skandia Marketing, Inc. | | One Corporate Drive
Shelton, CT 06484 |
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| INVESTMENT SUBADVISORS | | AllianceBernstein, L.P. | | 1345 Avenue of the Americas
New York, NY 10105 |
|
| | | American Century Investment
Management, Inc. | | 4500 Main Street
Kansas City, MO 64111 |
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| | | The Dreyfus Corporation | | 200 Park Avenue
New York, NY 10166 |
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| | | Goldman Sachs Asset Management, L.P. | | 32 Old Slip
New York, NY 10005 |
|
| | | Marsico Capital Management, LLC | | 1200 Seventeenth Street
Suite 1300
Denver, CO 80202 |
|
| | | Neuberger Berman Management Inc. | | 605 Third Avenue
New York, NY 10158 |
|
| | | Pacific Investment Management
Company LLC | | 840 Newport Center Drive
Newport Beach, CA 92660 |
|
| | | ProFund Advisors LLC | | 7501 Wisconsin Avenue
Bethesda, MD 20814 |
|
| | | Prudential Investment Management, Inc. | | Gateway Center Two
100 Mulberry Street
Newark, NJ 07102 |
|
| | | RS Investment Management, L.P. | | 388 Market Street
Suite 1700
San Francisco, CA 94111 |
|
| | | Transamerica Asset Management LLC | | 11111 Santa Monica Boulevard
Suite 820
Los Angeles, CA 90025 |
|
| | | T. Rowe Price Associates, Inc. | | 100 East Pratt Street
Baltimore, MD 21202 |
|
| | | William Blair & Company, L.L.C. | | 222 West Adams Street
Chicago, IL 60606 |
| | | | |
| DISTRIBUTORS | | American Skandia Marketing,
Incorporated | | One Corporate Drive
Shelton, CT 06484 |
|
| | | Prudential Investment Management
Services LLC | | Gateway Center Three
100 Mulberry Street
Newark, NJ 07102 |
|
| CUSTODIAN | | PFPC Trust Company | | 400 Bellevue Parkway
Wilmington, DE 19809 |
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| TRANSFER AGENT | | Prudential Mutual Fund Services LLC | | PO Box 8098
Philadelphia, PA 19176 |
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| SUBACCOUNTING AGENT | | PFPC Inc. | | 103 Bellevue Parkway
Wilmington, DE 19809 |
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| INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | | KPMG LLP | | 345 Park Avenue
New York, NY 10154 |
|
| FUND COUNSEL | | Willkie Farr & Gallagher | | 787 Seventh Avenue
New York, NY 10019 |
|
An investor should consider the investment objectives, risks, charges, and expenses of the Funds carefully before investing. The prospectus for the Funds contains this and other information about the Funds. An investor may obtain a prospectus by visiting our website at www.strategicpartners.com or by calling (800) 225-1852. The prospectus should be read carefully before investing. |
|
| E-DELIVERY |
To receive your mutual fund documents on-line, go to www.icsdelivery.com/prudential/funds and enroll. Instead of receiving printed documents by mail, you will receive notification via e-mail when new materials are available. You can cancel your enrollment or change your e-mail address at any time by clicking on the change/cancel enrollment option at the icsdelivery website address. |
|
| SHAREHOLDER COMMUNICATIONS WITH DIRECTORS |
Shareholders can communicate directly with the Board of Directors by writing to the Chair of the Board, Strategic Partners Mutual Funds, Inc., PO Box 13964, Philadelphia, PA 19176. Shareholders can communicate directly with an individual Director by writing to the same address. Communications are not screened before being delivered to the addressee. |
|
| AVAILABILITY OF PORTFOLIO SCHEDULE |
Each Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the Commission’s website at www.sec.gov. The Funds’ Forms N-Q may also be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation and location of the Public Reference Room may be obtained by calling (800) SEC-0330 (732-0330). The Funds’ schedule of portfolio holdings is also available on the Funds’ website as of the end of each fiscal quarter. |
Mutual Funds:
| | | | |
ARE NOT INSURED BY THE FDIC OR ANY
FEDERAL GOVERNMENT AGENCY | | MAY LOSE VALUE | | ARE NOT A DEPOSIT OF OR GUARANTEED BY
ANY BANK OR ANY BANK AFFILIATE |
Strategic Partners Mutual Funds, Inc.
MFSP601E2 IFS-A120476 Ed. 06/2006
Item 2 – Code of Ethics – Not required, as this is not an annual filing.
Item 3 – Audit Committee Financial Expert – Not required, as this is not an annual filing.
Item 4 – Principal Accountant Fees and Services – Not required, as this is not an annual filing.
Item 5 – Audit Committee of Listed Registrants – Not applicable.
Item 6 – Schedule of Investments – The schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not applicable.
Item 8 – Portfolio Managers of Closed-End Management Investment Companies – Not applicable.
Item 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not applicable.
Item 10 – Submission of Matters to a Vote of Security Holders – Not applicable.
Item 11 – Controls and Procedures
| | (a) | It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
| | (b) | There has been no significant change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter of the period covered by this report that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12 – Exhibits
| | |
(a) | | (1) Code of Ethics – Not required, as this is not an annual filing. |
| |
| | (2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.CERT. |
| |
| | (3) Any written solicitation to purchase securities under Rule 23c-1. – Not applicable. |
| |
(b) | | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act – Attached hereto as Exhibit EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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(Registrant) Strategic Partners Mutual Funds, Inc. |
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| By (Signature and Title)* | | /s/ Deborah A. Docs |
| | Deborah A. Docs |
| | Secretary |
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| Date June 27, 2006 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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| By (Signature and Title)* | | /s/ Judy A. Rice |
| | Judy A. Rice |
| | President and Principal Executive Officer |
|
| Date June 27, 2006 |
| |
| By (Signature and Title)* | | /s/ Grace C. Torres |
| | Grace C. Torres |
| | Treasurer and Principal Financial Officer |
|
| Date June 27, 2006 |
| * | Print the name and title of each signing officer under his or her signature. |
