The Board of Trustees of Advanced Series Trust ("AST") recently approved a fund merger. AST Loomis Sayles Large-Cap Growth Portfolio will acquire AST Goldman Sachs Concentrated Growth Portfolio.

The completion of the reorganization transaction is subject to approval by the shareholders of the target fund. It is anticipated that a proxy statement/prospectus relating to this transaction will be mailed to the shareholders of the target fund in December, and that the special meeting of target fund shareholders will be held in January. [SEC Filing] 

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