Exhibit (D)(6)
FORM OF AMENDED AND RESTATED AMENDMENT
TO SUBADVISORY AGREEMENT
Prudential Short-Term Bond Fund, Inc.
AMENDMENT made as of this February ___, 2003 between Prudential Investments
LLC ("PI"), and Prudential Investment Management, Inc. ("PIM").
WHEREAS, PI, either itself or as a successor to Prudential Investments Fund
Management, Inc., and PIM, either itself or as a successor to The Prudential
Investment Corporation, Inc., have entered into a Subadvisory Agreement
(the"Agreement") dated July 25th, 1989, with respect to the management of
Prudential Short-Term Bond Fund, Inc.(the "Fund"), including Prudential
Short-Term Corporate Bond Fund, a series of the Fund; and
WHEREAS, this Amendment was initially effective as of November 18, 1999
with respect to the Fund and Short-Term Corporate Bond Fund and is hereby
amended and restated as of February ___, 2003, with respect to the Xxxxxx Ultra
Short Bond Fund (the "Ultra Short Bond Fund"), a series of the Fund; and
WHEREAS, the Agreement provides that PIM shall provide investment advisory
services to Short-Term Corporate Bond Fund and Ultra Short Bond Fund, subject to
oversight by PI; and
WHEREAS, PI and PIM desire to amend the Agreement with respect to the
compensation to be paid by PI to PIM for services provided by PIM pursuant to
the Agreement.
NOW, THEREFORE, for and in consideration of the continuation of the
Agreement for its current term, and other good and valuable consideration, PI
and PIM hereby amend the Agreement to provide for the compensation to be paid by
PI to PIM as described on the attached schedule, effective as of January 1,
2000, with respect to Short-Term Corporate Bond Fund, and effective as of
February __, 2003, with respect to Ultra Short Bond Fund, for the same term,
including renewals, as the Agreement and upon the same terms and conditions as
described in the Agreement.
IN WITNESS WHEREOF, PI and PIM have signed this Amendment as of the day and
year first above written.
PRUDENTIAL INVESTMENTS LLC
By:
------------------------------------
Xxxxxx X. Xxxxx
1
Executive Vice President and Chief
Administrative Officer
PRUDENTIAL INVESTMENT MANAGEMENT, INC.
By:
------------------------------------
Xxxxxxx X. Xxxxxxxx
Director, President & CEO
2
----------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Cluster 1
----------------------------------------------------------------------------------------------------------------------
Equity Funds
----------------------------------------------------------------------------------------------------------------------
Prudential 20/20 Focus Fund .375% to $1 xxx Xxxxxxxx Associates (value)
.3325% over $1 bil
==================================================================
.30% to $300 mil Xxxxxxxx Associates (growth)
.25% over $300 mil
======================================================================================================================
Prudential US Emerging Growth Fund, Inc. .30% to $1 xxx Xxxxxxxx Associates
.261% over $1 bil
======================================================================================================================
Prudential Equity Fund, Inc. * .25% to $500 mil Xxxxxxxx Associates (50%)
.226% to $500 mil
.203% over $1 bil
==================================================================
.30% to $50 mil GE Asset Management *
.20% next $250 mil (25%)
.15% over $300 mil
==================================================================
.40% to $50 mil Salomon Brothers Asset Mgnt. *
.30% next $250 mil (25%)
.155% over $300 mil
======================================================================================================================
Prudential Value Fund ** .30% to $500 mil Xxxxxxxx Associates (50%)
.238% next $500 mil
.214% next $500 mil
.191% over $1.5 bil
==================================================================
.29% to $50 mil Victory Capital Management **
.23% to next $250 mil (25%)
.15 over $300 mil
==================================================================
.29% to $50 mil Deutsche Asset Management **
.23% to next $250 mil (25%)
.15 over $300 mil
======================================================================================================================
Prudential Natural Resources Fund 0.375% Xxxxxxxx Associates
======================================================================================================================
Prudential Stock Index Fund 0.15% PIM/Quantitative Management
======================================================================================================================
Prudential Active Balanced Fund .325% to $1 bil PIM/Quantitative Management
.285% over $1 bil
======================================================================================================================
Prudential Xxxxxxxx Growth Fund .30% to $300 mil Xxxxxxxx Associates
.25% over $300 mil
======================================================================================================================
Prudential Xxxxxxxx Equity Opportunity Fund .30% to $300 mil Xxxxxxxx Associates
.25% over $300 mil
======================================================================================================================
Prudential Financial Services Fund 0.3750% Xxxxxxxx Associates
======================================================================================================================
Prudential Health Sciences Fund .30% to $300 mil Xxxxxxxx Associates
.25% over $300 mil
==================================================================
0.3750% PIM
======================================================================================================================
Prudential Technology Fund 0.3750% Xxxxxxxx Associates/PIM
======================================================================================================================
Prudential Utility Fund .30% to $250 mil Xxxxxxxx Associates
.238% next $500 mil
.203% next $750 mil
.17% next $500 mil
.14% next $2 bil
.122% next $2 bil
.105% over $6 bil
======================================================================================================================
Prudential Tax-Managed Small-Cap Fund 0.3900% PIM-QM
======================================================================================================================
Prudential Small Company Fund, Inc. 0.4550% Xxxxxxxx Associates
======================================================================================================================
Prudential Tax-Managed Equity Fund .325% to $500 mil PIM-QM
.285% over $500 mil
======================================================================================================================
Taxable Fixed Income Funds
----------------------------------------------------------------------------------------------------------------------
Prudential Global Total Return Fund, Inc. .375% to $500 mil PIM
.333% next $500 mil
.293% over $1 bil
======================================================================================================================
* Sub-Advisory Fees based on composite assets of this fund and the
Prudential Series Equity Portfolio.
** Sub-Advisory Fees based on composite assets of this fund and the
Prudential Series Value Portfolio.
------------------------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Cluster 2
------------------------------------------------------------------------------------------------------------------------------------
Equity Funds
------------------------------------------------------------------------------------------------------------------------------------
Prudential World Fund, Inc., .60% to $300 mil Xxxxxxxx Associates
Prudential Xxxxxxxx International Growth Fund .50% to $1.5 bil
.45% over $1.5 bil
====================================================================================================================================
Prudential World Fund, Inc., Prudential International .45% to $50 mil Bank of Ireland Asset Mgmt
Value Fund .40% to next $50 mil
.30% to next $500 mil
.28% to next $200 mil
.27% over $800 mil
====================================================================================================================================
Prudential World Fund, Inc., Prudential Global 0.3750% Xxxxxxxx Associates
Growth Fund
====================================================================================================================================
Prudential Europe Growth Fund, Inc. * .60% to $50 mil Gartmore Global Partners *
.50% to next $50 mil
.40% to next $100 mil
.30% over $200 mil
====================================================================================================================================
Prudential Pacific Growth Fund, Inc. ** .50% to $250 mil Jardine Xxxxxxx Int'l Mgmt **
.45% over $250 mil
====================================================================================================================================
Prudential Real Estate Securities Fund .40% to $50 mil Wellington Management Company, LLP
0.35% over $50 mil
====================================================================================================================================
Money Market Funds
------------------------------------------------------------------------------------------------------------------------------------
COMMAND Money Fund .25% to $500 mil PIM
.191% next $500 mil
.15% next $500 mil
.123% over $1.5 bil
====================================================================================================================================
COMMAND Government Fund .20% to $1 bil PIM
.169% over $1 bil
====================================================================================================================================
COMMAND Tax-Free Fund .25% to $500 mil PIM
.191% next $500 mil
.15% over $1 bil
====================================================================================================================================
Prudential Institutional Liquidity Portfolio, Inc. 0.1000% PIM
Institutional Money Market Series
====================================================================================================================================
Prudential Tax-Free Money Fund, Inc. .25% to $750 mil PIM
.191% next $750 mil
.15% over $1.5 bil
====================================================================================================================================
Prudential MoneyMart Assets, Inc. .25% to $50 mil PIM
.135% over $50 mil
====================================================================================================================================
Special Money Market Fund, Inc. 0.250% PIM
====================================================================================================================================
Cash Accummulation Trust, Liquid Assets Fund 0.035% PIM
====================================================================================================================================
Cash Accummulation Trust, .195% to $1 bil PIM
National Money Market Fund .169% next $500 mil
.140% next $500 mil
.114% over $2 bl
====================================================================================================================================
Prudential Core Investment Fund
Taxable Money Market Series COST PIM
====================================================================================================================================
* Sub-Advisory Fees based on composite assets of this fund and the Prumerica
Worldwide Investors Portfolio - European Growth Fund
** Sub-Advisory Fees based on composite assets of this fund and the Prumerica
Worldwide Investors Portfolio - Pacific Growth Fund
---------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Adviser
Sub-Advisory Fee
Cluster 3
---------------------------------------------------------------------------------------------------------------
Money Market Funds
---------------------------------------------------------------------------------------------------------------
Prudential Government Securities Trust - .200% to $1 bil PIM
Money Market Series .169% next $500 mil
.140% over $1.5 bil
===============================================================================================================
Prudential Government Securities Trust - 0.200% PIM
U.S. Treasury Money Market Series
===============================================================================================================
Prudential Municipal Series Fund - 0.250% PIM
New Jersey Money Market Series
===============================================================================================================
Prudential Municipal Series Fund - 0.250% PIM
New York Money Market Series
===============================================================================================================
Prudential California Municipal Fund - 0.250% PIM
California Money Market Series
===============================================================================================================
Domestic Taxable Funds
---------------------------------------------------------------------------------------------------------------
Prudential Government Income Fund, Inc. .250% to $3 bil PIM
.166% over $3 bil
===============================================================================================================
Prudential High Yield Fund, Inc. .250% to $250 mil PIM
.226% next $500 mil
.203% next $750 mil
.181% next $500 mil
.160% next $500 mil
.141% next $500 mil
.123% over $3 bil
===============================================================================================================
The High Yield Income Fund, Inc. 0.350% PIM
===============================================================================================================
Prudential Short-Term Bond Fund, Inc. - .20% PIM
Prudential Short-Term Corporate Bond Fund
===============================================================================================================
Prudential Short-Term Bond Fund, Inc. - .30% to $1 bil
Prudential Ultra Short Bond Fund .275% over $1 bil PIM
===============================================================================================================
Prudential Total Return Bond Fund, Inc. 0.250% PIM
===============================================================================================================
Municipal Funds
---------------------------------------------------------------------------------------------------------------
Prudential National Municipals Fund, Inc. .250% to $250 mil PIM
.226% next $250 mil
.203% next $500 mil
.181% next $250 mil
.160% next $250 mil
.141% over $1.5 bil
===============================================================================================================
Prudential Municipal Bond Fund - High Income Series .250% to $1 bil PIM
.214% over $1 bil
===============================================================================================================
Prudential Municipal Bond Fund - Insured Series .250% to $1 bil PIM
.214% over $1 bil
===============================================================================================================
Prudential Municipal Series Fund - Florida Series 0.250% PIM
===============================================================================================================
Prudential Municipal Series Fund - New Jersey Series 0.250% PIM
===============================================================================================================
Prudential Municipal Series Fund - New York Series 0.250% PIM
===============================================================================================================
Prudential Municipal Series Fund - Pennsylvania Series 0.250% PIM
===============================================================================================================
Prudential California Municipal Fund - California Series 0.250% PIM
===============================================================================================================
Prudential California Municipal Fund - California Income 0.250% PIM
===============================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Cluster 4
------------------------------------------------------------------------------------------------------------------------------------
Strategic Partners Asset Allocation Funds*
------------------------------------------------------------------------------------------------------------------------------------
Strategic Partners .30% to $300 mil Xxxxxxxx Associates LLC
Conservative Growth Fund .25% over $300 mil
=============================================================================
0.3750% PIM
=============================================================================
0.2500% PIMCO
=============================================================================
0.5000% Franklin Advisers, Inc.
=============================================================================
0.4000% XXXXXXX Partners
====================================================================================================================================
Strategic Partners .30% to $300 mil Xxxxxxxx Associates
Moderate Growth Fund .25% over $300 mil
=============================================================================
0.3750% PIM
=============================================================================
0.4000% Lazard Asset Mgmt.
=============================================================================
0.2500% PIMCO
=============================================================================
0.5000% Franklin Advisers, Inc.
=============================================================================
0.4000% XXXXXXX Partners
====================================================================================================================================
Strategic Partners .30% to $300 mil Xxxxxxxx Associates LLC
High Growth Fund .25% over $300 mil
=============================================================================
0.3750% PIM
=============================================================================
0.4000% Lazard Asset Mgmt.
=============================================================================
0.5000% Franklin Advisers, Inc.
=============================================================================
0.4000% XXXXXXX Partners
====================================================================================================================================
Target Portfolio Trust
------------------------------------------------------------------------------------------------------------------------------------
Large Capitalization Growth Portfolio 0.3000% Oak Associates
-----------------------------------------------------------------------------
0.3000% Columbus Circle Investors
====================================================================================================================================
Large Capitalization Value Portfolio 0.3000% X.X. Xxxxxx
-----------------------------------------------------------------------------
0.3000% Hotchkis and Wiley
====================================================================================================================================
Small Capitalization Growth Portfolio 0.4000% Sawgrass Asset Management
-----------------------------------------------------------------------------
0.4000% X.X. Xxxxxx Xxxxxxx Asset Mgmt.
====================================================================================================================================
Small Capitalization Value Portfolio 0.4000% National City***
-----------------------------------------------------------------------------
0.4000% XXXXXXX Partners
====================================================================================================================================
International Equity Portfolio 0.4000% Lazard Asset Mgmt.
====================================================================================================================================
International Bond Portfolio 0.3000% Xxxxxxx Xxxxxxx Trees & Xxxxx
====================================================================================================================================
Total Return Bond Portfolio 0.2500% PIMCO
====================================================================================================================================
Intermediate-Term Bond Portfolio 0.2500% PIMCO
====================================================================================================================================
Mortgage Backed Securities Portfolio 0.2500% Wellington Management Corp.
====================================================================================================================================
U.S. Government Money Market Portfolio 0.1250% Wellington Management Corp.
====================================================================================================================================
Strategic Partners Style Specific Funds**
------------------------------------------------------------------------------------------------------------------------------------
Strategic Partners 0.3000% Oak Associates
-----------------------------------------------------------------------------
Large Capitalization Growth Fund 0.3000% Columbus Circle Investors
====================================================================================================================================
Strategic Partners 0.3000% X.X. Xxxxxx
-----------------------------------------------------------------------------
Large Capitalization Value Fund 0.3000% Hotchkis and Wiley
====================================================================================================================================
Strategic Partners 0.4000% Sawgrass Asset Management
-----------------------------------------------------------------------------
Small Capitalization Growth Fund 0.4000% Xxxxx Xxxxxxx Asset Mgmt.
====================================================================================================================================
Strategic Partners 0.4000% National City***
-----------------------------------------------------------------------------
Small Capitalization Value Fund 0.4000% XXXXXXX Partners
====================================================================================================================================
Strategic Partners
International Equity Fund 0.4000% Lazard Asset Mgmt.
====================================================================================================================================
Strategic Partners
Total Return Bond Fund 0.2500% PIMCO
====================================================================================================================================
*Formerly Prudential Diversified Funds
** Formerly Target Funds
*** Appointed 4/02. Not subject to renewal in 5/02
------------------------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Cluster 4 cont'd
------------------------------------------------------------------------------------------------------------------------------------
Strategic Partners Opportunity Funds*
------------------------------------------------------------------------------------------------------------------------------------
Strategic Partners Focused Growth Fund .60% to $1 bil Alliance Capital Mgmt.
.55% in excess of $1 bil
=============================================================================
.60% to $1 bil PIM (Sub-Manager)**
.55% in excess of $1 bil
====================================================================================================================================
Strategic Partners New Era Growth Fund .50% to $1 xxx Xxxxxxxx Associates
.40% over $1 bil
=============================================================================
.50% to $1 bil MFS
.40% over $ 1bil
====================================================================================================================================
Strategic Partners Focused Value Fund .50% to $1 xxx Xxxxx
.40% over $1 bil
=============================================================================
.50% to $1 xxx Xxxxxxx Brothers
.40% over $1 bil
====================================================================================================================================
Strategic Partners Market Opportunity Fund .45% to $100 mil PIM***
.40% next $150 mil
.35% next $250 mil
.30% over $500 mil
====================================================================================================================================
Strategic Partners Mid-Cap Value Fund .55% to $1 xxx Xxxxxx Associates L.P.***
.45% over $1 bil
=============================================================================
.55% to $1 bil Mercury Advisors***
.45% over $1 bil
====================================================================================================================================
* Formerly Strategic Partners Series.
** PIM pays Xxxxxxxx a subadvisory fee of .30% on Xxxxxxxx advised Fund
assets on total Fund assets up to $300 million and .25% on such assets on
total Fund assets over $300 million
*** Appointed 2/02. Not subject to renewal in 5/02.
---------------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Series Fund
---------------------------------------------------------------------------------------------------------------------------
Prudential Series Fund, Inc.
---------------------------------------------------------------------------------------------------------------------------
Pru Series Money Market Port. 0.2000% PIM
===========================================================================================================================
Pru Series Diversified Bond Port. 0.2000% PIM
===========================================================================================================================
Pru Series Equity Port. * 0.2250% Xxxxxxxx Associates LLC
=====================================================================
.30% to $50 mil GE Asset Management Inc.*
.20% next $250 mil
.15% over $300 mil
=====================================================================
.40% to $50 mil Salomon Brothers Asset Mgnt. Inc.*
.30% next $250 mil
.155% over $300 mil
===========================================================================================================================
Pru Series Flexible Managed Port. 0.3000% PIM
===========================================================================================================================
Pru Series Conservative Balanced Port. 0.2750% PIM
===========================================================================================================================
Pru Series High Yield Bond 0.2750% PIM
===========================================================================================================================
Pru Series Stock Index 0.1750% PIM
===========================================================================================================================
Pru Series Value ** 0.2000% Xxxxxxxx Associates (50%)
=====================================================================
.29% to $50 mil Victory Capital Management Inc.**
.23% to next $250 mil (25%)
.15 over $300 mil
=====================================================================
.29% to $50 mil Deutsche Asset Management **
.23% to next $250 mil (25%)
.15 over $300 mil
===========================================================================================================================
Pru Series Natural Resources 0.2250% Xxxxxxxx Associates LLC
===========================================================================================================================
Pru Series Government Income 0.2000% PIM
===========================================================================================================================
Pru Series Zero Coupon Bond 2005 0.2000% PIM
===========================================================================================================================
Pru Series Small Cap Stock 0.2600% PIM
===========================================================================================================================
Xxxxxxxx/\ .75% to $10 mil Xxxxxxxx Associates LLC
.50% to next $30 mil
.35% to next $25 mil
.25% to $335 mil
.22% to next $600 mil
.20% over $1 bil
===========================================================================================================================
Pru Series Global 0.3750% Xxxxxxxx Associates LLC
===========================================================================================================================
Xxxxxxxx 20/20 Focus/\/\ .30% to $300 mil Xxxxxxxx Associates LLC (growth)
.25% over $300 mil
=====================================================================
0.3750% Xxxxxxxx Associates LLC (value)
===========================================================================================================================
Pru Series Diversified Conservative Growth .30% to $300 mil Xxxxxxxx Associates LLC (growth)
.25% over $300 mil
=====================================================================
0.3750% Xxxxxxxx Associates LLC (value)
=====================================================================
0.3750% PIM
=====================================================================
0.2500% PIMCO
=====================================================================
0.5000% Franklin Advisers, Inc.
=====================================================================
0.4000% XXXXXXX Partners LLC
===========================================================================================================================
* Sub-Advisory fees based on composite assets of this fund and the Prudential
Equity Fund
** Sub-Advisory fees based on composite assets of this fund and
the Prudential Value Fund
/\ Formerly Prudential Xxxxxxxx
/\/\ Formerly Pru Series 20/20 Focus
-------------------------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Advisers
Sub-Advisory Fee
Series Fund cont'd
---------------------------------------------------------------------------------------------------------------------------
XX Xxxxx Value Port. .45% to $100 mil Xxxxx Selected Advisers
.40% next $400 mil
.35% over $500 mil
===========================================================================================================================
SP Large Cap Value Port .50% to $250 mil Fidelity Mgmt. & Research Co.
.45% next $500 mil
.35% over $750 mil
===========================================================================================================================
SP Small/Mid Cap Value Port .55% to $250 mil Fidelity Mgmt. & Research Co.
.50% next $500 mil
.40% over $750 mil
===========================================================================================================================
SP AIM Core Equity* .55% to $500 mil AIM Capital Mgmt.
.50% over $500 mil
===========================================================================================================================
SP AIM Aggressive Growth Port. .60% to $200 mil AIM Capital Mgmt.
.55% over $200 mil
===========================================================================================================================
SP MFS Capital Opportunities Port.** .40% to $300 mil Massachusetts Financial Ser.
.375% next $300 mil
.350% next $300 mil
.325% next $600 mil
.25% over $1.5 bil
===========================================================================================================================
SP MFS Mid-Cap Growth Port.** .40% to $300 mil Massachusetts Financial Ser.
.375% next $300 mil
.350% next $300 mil
.325% next $600 mil
.25% over $1.5 bil
===========================================================================================================================
SP Alliance Large Cap Growth Port. .60% to $500 mil Alliance Capital Mgmt.
.50% over $500 mil
===========================================================================================================================
SP Alliance Technology Port. 0.7500% Alliance Capital Mgmt.
===========================================================================================================================
SP INVESCO Small Company Growth Port. .55% to $250 mil INVESCO Funds Group
.52% next $250 mil
.47% over $500 mil
===========================================================================================================================
SP Deutsche International Equity Port. .55% to $500 mil Deutsche Asset Management
.50% over $500 mil
===========================================================================================================================
SP Prudential US Emerging Growth Port. 0.3000% Xxxxxxxx Associates
===========================================================================================================================
XX Xxxxxxxx International Growth Port. .60% to $300 mil Xxxxxxxx Associates
.50% next $1.2 bil
.45% over $1.5 bil
===========================================================================================================================
SP PIMCO Total Return Port 0.2500% PIMCO
===========================================================================================================================
SP PIMCO High Yield Port. 0.2500% PIMCO
===========================================================================================================================
SP Conservative Asset Allocation Port. N/A NONE
===========================================================================================================================
SP Balanced Asset Allocation Port. N/A NONE
===========================================================================================================================
SP Growth Asset Allocation Port. N/A NONE
===========================================================================================================================
SP Aggressive Growth Asset Allocation Port. N/A NONE
===========================================================================================================================
SP Strategic Partners Focused Growth Port. .30% to $300 mil Xxxxxxxx Associates
.250% next $300 mil
=====================================================================
.60% to $1 bil Alliance Capital Mgmt.
.55% over $1 bil
===========================================================================================================================
* Formally SP AIM Growth and Income Port.
** Sub-Advisory fees based on composite assets of both MFS Portfolios.
--------------------------------------------------------------------------------------------------------
Fund Name Contractual Sub-Adviser
Sub-Advisory Fee
Gibraltar/VCA
========================================================================================================
Prudential Gibraltar Fund 0.0625% Xxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
XXX 0 X/X X/X
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
XXX 00 X/X X/X
========================================================================================================
VCA 11 N/A N/A
========================================================================================================
--------------------------------------------------------------------------------
Fund Name Contractual
Mgmt Fee
Cluster 1
--------------------------------------------------------------------------------
Equity Funds
--------------------------------------------------------------------------------
Prudential 20/20 Focus Fund 0.75%
.70% over $1 bil
================================================================================
Prudential US Emerging Growth Fund, Inc. .60% to $1 bil
.55% over $1 bil
================================================================================
Prudential Equity Fund, Inc. .50% to $500 mil
.475% next $500 mil
.45% over $1 bil
================================================================================
Prudential Value Fund .60% to $500 mil
.50% next $500 mil
.475% next $500 mil
.45% over $1.5 bil
================================================================================
Prudential Natural Resources Fund 0.75%
================================================================================
Prudential Stock Index Fund 0.30%
================================================================================
Prudential Active Balanced Fund .65% to $1 bil
.60% over $1 bil
================================================================================
Prudential Xxxxxxxx Growth Fund .60% to $300 mil
.575% next $4.7 bil
.55% over $5 bil
================================================================================
Prudential Xxxxxxxx Equity Opportunity Fund .60% to $300 mil
.575% over $300 mil
================================================================================
Prudential Financial Services Fund 0.75%
================================================================================
Prudential Health Sciences Fund 0.75%
================================================================================
Prudential Technology Fund 0.75%
================================================================================
Prudential Utility Fund .60% to $250 mil
.50% next $500 mil
.45% next $750 mil
.40% next $500 mil
.35% next $2 bil
.325% next $2 bil
.30% over $6 bil
================================================================================
Prudential Tax-Managed Small-Cap Fund 0.60%
================================================================================
Prudential Small Company Fund, Inc. 0.70%
================================================================================
Prudential Tax-Managed Equity Fund .65% to $500 mil
.60% over $500 mil
================================================================================
Taxable Fixed Income Funds
--------------------------------------------------------------------------------
Prudential Global Total Return Fund, Inc. .75% to $500 mil
.70% next $500 mil
.65% over $1 bil
================================================================================
----------------------------------------------------------------------------------------
Fund Name Contractual
Mgmt Fee
Cluster 2
----------------------------------------------------------------------------------------
Equity Funds
----------------------------------------------------------------------------------------
Prudential World Fund, Inc. .85% to $300 mil
Prudential Xxxxxxxx International Growth Fund .75% to $1.5 bil
.70% over $1.5 bil
========================================================================================
Prudential World Fund, Inc., 1.00% to $300 mil
International Value Fund .95% over $300 mil
========================================================================================
Prudential World Fund, Inc., 0.75%
Prudential Global Growth Fund
========================================================================================
Prudential Europe Growth Fund, Inc. 0.75%
----------------------------------------------------------------------------------------
Prudential Pacific Growth Fund, Inc. 0.75%
========================================================================================
Prudential Real Estate Securities Fund 0.75%
========================================================================================
Money Market Funds
----------------------------------------------------------------------------------------
COMMAND Money Fund .50% to $500 mil
.425% next $500 mil
.375% next $500 mil
.35% over $1.5 bil
========================================================================================
COMMAND Government Fund .40% to $1 bil
.375% over $1 bil
========================================================================================
COMMAND Tax-Free Fund .50% to $500 mil
.425% next $500 mil
.375% over $1 bil
========================================================================================
Prudential Institutional Liquidity Portfolio, Inc. 0.20%
Institutional Money Market Series
========================================================================================
Prudential Tax-Free Money Fund, Inc. .50% to $750 mil
.425% next $750 mil
.375% over $1.5 bil
========================================================================================
Prudential MoneyMart Assets, Inc. .50% to $50 mil
.30% over $50 mil
========================================================================================
Special Money Market Fund, Inc. 0.50%
========================================================================================
Cash Accummulation Trust, Liquid Assets Fund 0.39%*
========================================================================================
Cash Accummulated Trust, .39% to $1 bil
National Money Market Fund .375% next $500 mil
.35% next $500 mil
.325% over $2 bil
========================================================================================
Prudential Core Investment Fund COST
Taxable Money Market Series
========================================================================================
* PI is reimbursed by the Fund for its direct administrative costs and
expenses, excluding overhead and profit up to a maximum of .39% of the
daily average net assets.
--------------------------------------------------------------------------------------------
Fund Name Contractual
Mgmt Fee
Cluster 3
--------------------------------------------------------------------------------------------
Money Market Funds
--------------------------------------------------------------------------------------------
Prudential Government Securities Trust - .40% to $1 bil
Money Market Series .375% next $500 mil
.35% over $1.5 bil
============================================================================================
Prudential Government Securities Trust - 0.40%
U.S. Treasury Money Market Series
============================================================================================
Prudential Municipal Series Fund - 0.50%
New Jersey Money Market Series
============================================================================================
Prudential Municipal Series Fund - 0.50%
New York Money Market Series
============================================================================================
Prudential California Municipal Fund - 0.50%
California Money Market Series
============================================================================================
Domestic Taxable Funds
--------------------------------------------------------------------------------------------
Prudential Government Income Fund, Inc. .50% to $3 bil
.35% over $3 bil
============================================================================================
Prudential High Yield Fund, Inc. .50% to $250 mil
.475% next $500 mil
.45% next $750 mil
.425% next $500 mil
.40% next $500 mil
.375% next $500 mil
.35% over $3 bil
============================================================================================
The High Yield Income Fund, Inc. 0.70%
============================================================================================
Prudential Short-Term Bond Fund, Inc. - .40%
Prudential Short-Term Corporate Bond Fund
============================================================================================
Prudential Short-Term Bond Fund, Inc. - .60% to $1 bil
Prudential Ultra Short Bond Fund .55% over $1 bil
============================================================================================
Prudential Total Return Bond Fund, Inc. 0.50%
============================================================================================
Municipal Funds
--------------------------------------------------------------------------------------------
Prudential National Municipals Fund, Inc. .50% to $250 mil
.475% next $250 mil
.45% next $500 mil
.425% next $250 mil
.40% next $250 mil
.375% over $1.5 bil
============================================================================================
Prudential Municipal Bond Fund - High Income Series .50% to $1 bil
.45% over $1 bil
============================================================================================
Prudential Municipal Bond Fund - Insured Series .50% to $1 bil
.45% over $1 bil
============================================================================================
Prudential Municipal Series Fund - Florida Series 0.50%
============================================================================================
Prudential Municipal Series Fund - New Jersey Series 0.50%
============================================================================================
Prudential Municipal Series Fund - New York Series 0.50%
============================================================================================
Prudential Municipal Series Fund - Pennsylvania Series 0.50%
============================================================================================
Prudential California Municipal Fund - California Series 0.50%
============================================================================================
Prudential California Municipal Fund - California Income 0.50%
============================================================================================
------------------------------------------------------------------------------
Fund Name Contractual
Mgmt Fee
Cluster 4
------------------------------------------------------------------------------
Strategic Patrners Asset Allocation Funds*
------------------------------------------------------------------------------
Strategic Partners 0.75%
Conservative Growth Fund
==============================================================================
Strategic Partners 0.75%
Moderate Growth Fund
==============================================================================
Strategic Partners 0.75%
High Growth Fund
==============================================================================
Target Portfolio Trust
------------------------------------------------------------------------------
Large Capitalization Growth Portfolio 0.60%
==============================================================================
Large Capitalization Value Portfolio 0.60%
==============================================================================
Small Capitalization Growth Portfolio 0.60%
==============================================================================
Small Capitalization Value Portfolio 0.60%
==============================================================================
International Equity Portfolio 0.70%
==============================================================================
International Bond Portfolio 0.50%
==============================================================================
Total Return Bond Portfolio 0.45%
==============================================================================
Intermediate-Term Bond Portfolio 0.45%
==============================================================================
Mortgage Backed Securities Portfolio 0.45%
==============================================================================
U.S. Government Money Market Portfolio 0.25%
------------------------------------------------------------------------------
Strategic Partners Style Specific Funds**
------------------------------------------------------------------------------
Strategic Partners 0.70%
Large Capitalization Growth Fund
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Strategic Partners 0.70%
Large Capitalization Value Fund
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Strategic Partners 0.70%
Small Capitalization Growth Fund
==============================================================================
Strategic Partners 0.70%
Small Capitalization Value Fund
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Strategic Partners
International Equity Fund 0.80%
==============================================================================
Strategic Partners
Total Return Bond Fund 0.50%
==============================================================================
* Formerly Prudential Diversified Funds
** Formerly Target Funds
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Fund Name Contractual
Mgmt Fee
Cluster 4 cont'd
==============================================================================
Strategic Partners Opportunity Funds/\
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Strategic Partners Focused Growth Fund .90% to $1 bil
.85% over $1 bil
==============================================================================
Strategic Partners New Era Growth Fund .90% to $1 bil
.85% over $1 bil
==============================================================================
Strategic Partners Focused Value Fund .90% to $1 bil
.85% over $1 bil
==============================================================================
Strategic Partners Market Opportunity Fund/\/\ .90% to $1 bil
.85% over $1 bil
==============================================================================
Strategic Partners Mid-Cap Value Fund/\/\/\ .90% to $1 bil
.85% over $1 bil
==============================================================================
/\ Formerly Strategic Partners Series.
/\/\ Scheduled to commence investment operations on or about 6/02. Not
subject to renewal in 5/02.
/\/\/\ Commencement of investment operations to be announced. Not subject to
renewal in 5/02.
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Fund Name Contractual
Mgmt Fee
Series Fund
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Prudential Series Fund, Inc.
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Pru Series Money Market Port. 0.40%
============================================================================
Pru Series Diversified Bond Port. 0.40%
============================================================================
Pru Series Equity Port. 0.45%
============================================================================
Pru Series Flexible Managed Port. 0.60%
============================================================================
Pru Series Conservative Balanced Port. 0.55%
============================================================================
Pru Series High Yield Bond 0.55%
============================================================================
Pru Series Stock Index 0.35% to $4 bil
0.30% over $4 bil
============================================================================
Pru Series Value 0.40%
============================================================================
Pru Series Natural Resources 0.45%
============================================================================
Pru Series Government Income 0.40%
============================================================================
Pru Series Zero Coupon Bond 2005 0.40%
============================================================================
Pru Series Small Cap Stock 0.40%
============================================================================
Xxxxxxxx* 0.60%
============================================================================
Pru Series Global 0.75%
============================================================================
Xxxxxxxx 20/20 Focus** 0.75%
============================================================================
Pru Series Diversified Conservative Growth 0.75%
============================================================================
XX Xxxxx Value Port. 0.75%
============================================================================
SP Large Cap Value Port 0.80%
============================================================================
SP Small/Mid Cap Value Port 0.90%
============================================================================
SP AIM Core Equity*** 0.85%
============================================================================
SP AIM Aggressive Growth Port. 0.95%
============================================================================
SP MFS Capital Opportunities Port. 0.75%
============================================================================
SP MFS Mid-Cap Growth Port. 0.80%
============================================================================
SP Alliance Large Cap Growth Port. 0.90%
============================================================================
SP Alliance Technology Port. 1.15%
============================================================================
SP INVESCO Small Company Growth Port. 0.95%
============================================================================
SP Deutsche International Equity Port. 0.90%
============================================================================
SP Prudential US Emerging Growth Port. 0.60%
============================================================================
XX Xxxxxxxx International Growth Port. 0.85%
============================================================================
SP PIMCO Total Return Port 0.60%
============================================================================
SP PIMCO High Yield Port. 0.60%
============================================================================
SP Conservative Asset Allocation Port. 0.05%
============================================================================
SP Balanced Asset Allocation Port. 0.05%
============================================================================
SP Growth Asset Allocation Port. 0.05%
============================================================================
SP Aggressive Growth Asset Allocation Port. 0.05%
============================================================================
SP Strategic Partners Focused Growth Port. 0.90%
============================================================================
* Formally Prudential Xxxxxxxx
** Formally Pru Series 20/20 Focus
*** SP AIM Growth and Income Port.
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Fund Name Contractual
Mgmt Fee
Gibraltar/VCA
============================================================================
Prudential Gibraltar Fund 0.125%
============================================================================
VCA 2 0.125%
============================================================================
VCA 10 0.250%
============================================================================
VCA 11 0.250%
============================================================================
