Prudential Financial

Managed Assets Consulting Services (MACS) is a discretionary, comprehensive, customized investment management program designed to help investors with substantial assets build their wealth. The program offers a powerful combination of professional money management and flexibility supported by a foundation of proprietary research.

The MACS program provides you with access to a network of affiliated and unaffiliated investment managers, across a spectrum of asset classes, who are usually available only to large institutional investors. Each manager has been thoroughly screened by experienced investment analysts and is subject to ongoing monitoring to ensure high investment standards.

Pruco COMMAND offers two types of managed account programs—Separately Managed Accounts and Diversified Multi-Strategy Portfolios.

Separately Managed Accounts
Separately Managed Accounts (SMA) offer an investment advisory program that is generally only available to large institutions and very wealthy investors. The accounts give you access to a broad universe of research screened investment managers from more than 40 firms, and to more than 75 investment strategies across the spectrum of major asset classes, i.e., Core Fixed Income to U.S. Large Cap Growth.

The guidance of an experienced Prudential financial professional is crucial in developing an asset allocation plan that’s right for you. He or she will help you define your investment strategy based upon your financial goals, preferences, and attitude toward risk tolerance. Based upon your objectives, a customized asset allocation is then developed. Once your personalized asset allocation has been developed, and depending on your investment amount, you may choose a complete asset allocation strategy (more than one SMA) or a single investment manager (one SMA) for a specific asset class.

The DMSP program offers you a choice of nine model portfolios. The research-screened portfolios reflect a specific range of risk tolerances—conservative, moderate, and aggressive—and offer varying degrees of diversification. The portfolios can be customized to meet your unique investment needs.

The process of choosing which DMSP is right for you begins with your Prudential financial professional. He or she will help you define your investment policy, preferences, and attitude toward risk tolerance. Once your profile has been determined, you can choose the model portfolio that works best for you.

> Professional Management
A managed account offers you access to the experience and resources of investment managers who tailor the portfolio to your financial objectives. Based upon your investment objectives, you will select a manager from a network of affiliated and unaffiliated investment managers.

> Direct Ownership of Securities
You own the securities purchased by the investment manager, which can help you manage any tax-consequences.* A benefit of owning the securities outright is you are not subject to gains earned by other shareholders.

> Tax Management
Some managers offer specific tax-management strategies, including tax-loss harvesting and offsetting of gains. Others specialize in tax-exempt, fixed-income investments. PlaceMark Investments, an unaffiliated provider to the program, offers tax-management strategies in DMSPs for an additional fee.

> Limited Exposure to Certain Securities or Sectors
You can request that your investment manager exclude certain securities or industries from your portfolio.

> Research-Screened Mutual Funds (available only in SMAs)
Mutual Funds can help complete your asset allocation and provide diversification. The MACs program's mutual funds are classified by actual holdings. To reduce portfolio overlap, you can choose mutual funds whose investments are not substantially similar to the asset style of those purchased by the investment manager.

A Disciplined Process
Investing in the MACS program begins with an in-depth fact-finding questionnaire administered by your Prudential financial professional. The questionnaire focuses on your financial goals, time horizon, investment preferences, and attitude toward risk tolerance. The resulting financial analysis will allow you to determine your financial objectives, appropriate investment guidelines, and investment manager search criteria.

Upon completion of your financial analysis, your Prudential financial professional will help you select investment managers who will assist you in achieving your financial goals.

A More Precise Asset Allocation
Our broad, yet highly selective, menu of investment managers and mutual funds enables you to precisely target your financial goals. This precision helps you obtain a more diversified and effective asset allocation strategy. Diversification can lead to more consistent returns, lower volatility, and a greater chance of achieving your financial objectives.

For example, we offer a large selection of managers in each of these large-cap equity styles:

• Large-Cap Core
• Large-Cap Growth
• Large-Cap GARP (Growth At a Reasonable Price)
• Large-Cap Value

• Keep up with market developments
• Measure progress toward your goals
• Evaluate your asset allocation
• Monitor performance of investments
• Review activity in your account and monitor tax implications