PRUDENTIAL MONEYMART ASSETS INC, N-30D, 1999-09-08

PRUDENTIAL MONEYMART ASSETS INC
N-30D, 1999-09-08

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<PAGE>

(ICON)

Prudential
MoneyMart
Assets, Inc.

SEMI
ANNUAL
REPORT

June 30, 1999

(LOGO)

<PAGE>

Portfolio Manager's Report
- -------------------------------------------------------------------------------
(PHOTO)

Joseph M. Tully
Fund Manager

Investment Goals and Style

Prudential MoneyMart Assets seeks maximum current income consistent with
stability of capital and the maintenance of liquidity. The Fund is a
diversified portfolio of high-quality, U.S. dollar-denominated money market
securities issued by the U.S. government and its agencies, major corporations
and commercial banks of the United States and abroad. Maturities can range
from one day to 13 months. We typically purchase only securities rated in one
of the two highest categories by at least two major rating agencies or, if not
rated, deemed to be of equivalent quality by our credit research staff. There
can be no assurance that the Fund will achieve its investment objective.

Performance at a Glance
Money market participants spent much of the first half of 1999 agonizing over
whether increases in the Federal funds rate (the rate U.S. banks charge each
other for overnight loans) were imminent, or even warranted. On June 30, 1999,
the Federal Reserve decided to raise the key rate. In anticipation of this
move, investors repeatedly drove money market yields higher. Prudential
MoneyMart Assets benefited from this trend because we locked in attractive
yields on one-year securities when we felt market sentiment was too
pessimistic. We also bought adjustable-rate securities. These purchases helped
the Fund provide competitive yields and a stable $1 net asset value during the
first half of this year.

Fund Facts As of 6/30/99
<TABLE>
<CAPTION>
7-Day Net Asset Weighted Avg. Net Assets
Current Yield* Value (NAV) Maturity (WAM) (Millions)
<S> <C> <C> <C> <C>
Class A 4.44% $1 78 days $6,240
Class Z 4.56% $1 78 days $ 210
IBC Financial Data Money
Fund Avg. (General Purpose)** 4.27% $1 56 days N/A
</TABLE>

Note: Yields will fluctuate from time to time, and past performance is not
indicative of future results. 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
$1.00 per share, it is possible to lose money by investing in the Fund.

* Class Z shares are not subject to a distribution fee.

** International Business Communications (IBC) Financial Data reports a
seven-day current yield, NAV, and WAM on Tuesdays. This is the data of all
funds in the IBC Money Fund Average (General Purpose - Taxable 1st & 2nd Tier)
category as of June 29, 1999, the closest date to the end of our reporting
period.

Money Fund Yield Comparison
(GRAPH)

<PAGE>

Market Review
Rise in money market yields created buying opportunities
The U.S. economy raced along at a surprisingly brisk clip in the first six
months of 1999. Such strong economic growth can ignite higher inflation which,
if left unchecked, could eventually derail the economic expansion. As a result,
many investors began to fear that the Federal Reserve would raise the Federal
funds rate to cool down the economy. Anticipation of an increase in the Federal
funds rate led investors to push up money market yields. For example, the
12-month London Interbank Offered Rate (LIBOR) climbed from approximately 5.00%
at the beginning of February 1999 to roughly 5.40% in early March. (LIBOR is a
widely quoted money market yield.) Because we did not believe a change in U.S.
monetary policy was imminent, we viewed this trend as a buying opportunity and
locked in attractive yields on one-year debt securities of banks and
corporations that pay a fixed interest rate.

We avoided buying securities during a brief decline in money market yields
Meanwhile, we had avoided purchasing shorter-term debt securities that would
mature between mid-April and early May of 1999 because the federal government
was scheduled to retire approximately $90 billion of U.S. Treasury bills.
During that time, investors scurried about in search of alternative
investments, which left money market yields hovering at low levels.
Fortunately, we anticipated this development and did not have to reinvest
significant amounts of cash with yields at such unattractive levels.

Money market yields had also lingered at low levels because a spate of benign
U.S. inflation data and moderate gains in employment allayed fears of a tighter
monetary policy. But this proved to be a temporary reprieve. The unrelenting
strength of the U.S. economy, higher oil prices, and a larger-than-expected
increase in a key inflation barometer that was reported in mid-May reawakened
concerns that an increase in the Federal funds rate was just around the corner.
Moreover, a statement released after Federal Reserve policy makers met in
mid-May said they were leaning toward increasing short-term rates due to the
potential buildup in inflationary pressures.

The long-awaited Federal funds rate increase finally occurred
Not surprisingly, money market yields began to climb sharply in the latter
half of May. Many market participants now expected the Federal Reserve to
implement an aggressive

(GRAPH)

Source: Lipper, Inc. Financial markets change, so a mutual fund's past
performance should never be used to predict future results. The risks to each
of the investments listed above are different--we provide 12-month total
returns for several Lipper mutual fund categories to show you that reaching
for higher returns means tolerating more risk. The greater the risk, the larger
the potential reward or loss. In addition, we've included historical 20-year
average annual returns. These returns assume the reinvestment of dividends.

U.S. Growth Funds will fluctuate a great deal. Investors have received higher
historical total returns from stocks than from most other investments. Smaller
capitalization stocks offer greater potential for long-term growth, but may be
more volatile than larger capitalization stocks.

General Bond Funds provide more income than stock funds, which can help smooth
out their total returns year by year. But their prices still fluctuate
(sometimes significantly), and their returns have been historically lower than
those of stock funds.

General Municipal Debt Funds invest in bonds issued by state governments, state
agencies and/or municipalities. This investment provides income that is usually
exempt from federal and state income taxes.

U.S. Taxable Money Funds attempt to preserve a constant share value; they don't
fluctuate much in price but, historically, their returns have been generally
among the lowest of the major investment categories.

<PAGE>

Review Cont'd.
- -------------------------------------------------------------------------------
program of interest rate increases. We believed any upside move in rates would
be limited, and that market sentiment was overly pessimistic. Therefore, we
took advantage of this rise in yields by purchasing one-year bank and corporate
securities that pay fixed interest rates, along with adjustable-rate securities
whose rates reset either on a monthly or quarterly basis. These securities
provide the Fund some protection against any further increase in money market
yields since their rates will reset to higher levels if yields continue to
climb.

Our purchases extended the Fund's weighted average maturity (WAM) until its WAM
was significantly longer than that of its competition. WAM takes into account
the maturity level of each security held by a fund. It is the measurement tool
that determines a fund's sensitivity to fluctuations in interest rates. In
hindsight, the Fund's performance would have benefited even more had we
purchased the one-year securities toward the end of June when money market
yields peaked for the six-month period. On June 30, 1999, the Federal Reserve
raised the Federal funds rate by a quarter of a percentage point to 5.00% and
signaled that no additional moves were likely in the immediate future. This
was the first increase since March 25, 1997.

Looking Ahead
Fed may move again in 1999
We believe the Federal Reserve might raise the Federal funds rate a second time
this summer or in early fall if the economy continues to grow at a very rapid
pace. However, we also believe the likelihood of another rate increase later in
the year dwindles due to the U.S. central bank's concerns about the potential
year 2000 computer problem. We will look to extend the Fund's WAM only when we
feel market sentiment is overly pessimistic regarding the outlook for higher
short-term interest rates.
2

<PAGE>

A Message from the Fund's President August 10, 1999
- -------------------------------------------------------------------------------
(PHOTO)

Dear Shareholder,
I am pleased to report that Prudential MoneyMart Assets provided competitive
yields and a stable $1 net asset value during the six-month reporting period
that ended June 30, 1999. On that date, its Class A shares' seven-day current
yield was 4.44%, slightly above the 4.27% for the average money market fund
tracked by IBC Financial Data.

During the first half of 1999, the strength of the U.S. economy and the
prospects of recovering international economies stoked inflation fears. Since
rising inflation erodes the value of bonds' fixed interest payments, investors
demanded higher yields on money market securities and most longer-term debt
securities. Amid these changing market conditions, the Fund's Portfolio Manager
Joe Tully was able to take advantage of attractive buying opportunities that
helped the Fund outperform the average money market fund.

In the following report, Joe takes a closer look at money market events that
took place during the six-month reporting period and explains how he positioned
Prudential MoneyMart Assets accordingly.

Diversification Is Key
While the bond market was experiencing some turbulence, the stock market was
reaching new highs as a broader group of stocks started to benefit from
encouraging global economic news. This disparity not only highlights the value
of professional portfolio management, it illustrates why investors should have
a well-diversified asset allocation strategy. It is also a good practice to
rebalance your holdings, when necessary, to keep your asset allocation
consistent with your long-term objectives and risk tolerance. A properly
diversified portfolio of value- and growth-oriented equity funds, international
and domestic bond funds, and money market funds could help you weather
inevitable market turbulence and achieve more consistent returns over time.
Your Prudential professional can help you conduct this review and make sure
your investment strategies are on course.

Thank you for your continued confidence in Prudential mutual funds.

Sincerely,

John R. Strangfeld
President and Chief Investment Officer
Prudential MoneyMart Assets, Inc.

<PAGE>

Portfolio of Investments as of
June 30, 1999 (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Principal
Amount
(000) Description Value (Note 1)
<C> <S> <C>
- ------------------------------------------------------------
Bank Notes--10.5%
Comerica Detroit Michigan Corp.
$ 85,000 4.855%, 7/13/99 $ 84,948,054
FCC National Bank
34,000 4.90%, 12/16/99 33,992,446
65,000 4.885%, 12/16/99 64,981,226
First Union National Bank(b)
86,000 4.925%, 7/8/99 86,000,000
67,000 4.99375%, 7/21/99 67,000,000
Key Bank N.A.
27,000 5.10875%, 6/24/99 26,986,942
7,000 5.05%, 7/19/99 7,005,396
44,000 5.035%, 9/14/99 43,975,216
Nationsbank N.A.
48,000 5.08%, 8/16/99 48,000,000
92,000 4.90%, 12/14/99 91,979,802
United States Bank National
Association Minneapolis
21,000 5.0225%, 6/26/00 20,989,796
54,000 4.97125%, 7/21/00 53,971,940
48,000 4.91%, 7/26/99 47,967,778
--------------
677,798,596
- ------------------------------------------------------------
Certificates Of Deposit - Domestic--7.3%
Canadian Imperial Bank of Commerce
300,000 5.08%, 8/23/99 300,000,000
First National Bank Chicago
Illinois
100,000 5.47%, 6/2/00 99,973,404
Morgan Guaranty Trust Co.
70,000 5.12%, 8/23/99 70,000,000
--------------
469,973,404
- ------------------------------------------------------------
Certificates Of Deposit - Eurodollar--2.8%
Abbey National Treasury Services
PLC
180,000 5.23%, 9/1/99 180,000,000
Certificates Of Deposit - Yankee--10.7%
ABN-Amro Bank
$ 69,000 4.88%, 12/22/99 $ 68,977,771
95,000 4.92%, 12/23/99 94,978,017
Bayerische Landesbank Girozentrale
150,000 4.885%, 12/20/99 149,955,655
Deutsche Bank
50,000 5.60%, 6/14/00 49,977,080
UBS AG Stamford Branch
Institutional Certificate
48,000 5.08%, 1/18/00 47,992,361
100,000 5.16%, 2/28/00 99,974,468
47,000 5.29%, 5/18/00 46,976,078
130,000 5.29%, 5/19/00 129,933,627
--------------
688,765,057
- ------------------------------------------------------------
Commercial Paper--49%
American General Finance Corp.
50,000 4.81%, 8/10/99 49,732,778
American Honda Finance Corp.
24,575 5.00%, 7/20/99 24,510,149
Associates First Capital Corp.
23,000 5.05%, 8/13/99 22,861,265
50,000 5.06%, 8/17/99 49,669,694
BankAmerica Corp.
30,000 4.79%, 10/6/99 29,612,808
33,000 4.94%, 11/22/99 32,347,920
Barton Capital Corp.
13,901 5.06%, 7/15/99 13,873,646
BBL North America Funding Corp.
29,000 5.03%, 8/17/99 28,809,559
Blue Ridge Asset Funding Corp.
12,000 5.06%, 7/14/99 11,978,073
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 3

<PAGE>

Portfolio of Investments as of
June 30, 1999 (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Principal
Amount
(000) Description Value (Note 1)
<C> <S> <C>
- ------------------------------------------------------------
Commercial Paper (cont'd.)
BMW US Capital Corp.
$ 30,000 5.03%, 8/17/99 $ 29,802,992
27,000 5.03%, 8/18/99 26,818,920
Bradford & Bingley Building
Society
10,000 4.88%, 8/24/99 9,926,800
Ciesco L.P.
27,000 5.07%, 8/10/99 26,847,900
97,000 5.25%, 8/19/99 96,306,854
CIT Group Holdings, Inc.
18,000 5.03%, 7/22/99 17,947,185
19,000 5.03%, 8/16/99 18,877,883
Clark County Arkansas Solid Waste
Disposal
119,170 5.75%, 7/1/99 119,170,000
Colonial Pipeline Co.
6,000 5.05%, 8/18/99 5,959,600
Commercial Credit Co.
8,000 5.02%, 7/23/99 7,975,458
25,000 5.03%, 7/23/99 24,923,153
12,484 5.03%, 7/26/99 12,440,393
Countrywide Home Loan, Inc.
16,000 5.05%, 7/12/99 15,975,311
14,000 5.08%, 8/16/99 13,909,124
16,000 5.08%, 8/20/99 15,887,111
CXC, Inc.
17,000 5.08%, 8/24/99 16,870,460
DaimlerChrysler North America
HLDGS
80,000 5.04%, 8/4/99 79,619,200
57,000 5.13%, 8/26/99 56,545,140
Den Denske Corp.
74,178 5.08%, 8/23/99 73,623,231
Edison Asset Securitization
29,300 4.86%, 9/8/99 29,027,070
Enterprise Funding Corp.
$ 25,481 5.06%, 7/16/99 $ 25,427,278
72,268 5.18%, 8/9/99 71,862,456
Falcon Asset Securitization Corp.
8,000 5.04%, 7/26/99 7,972,000
4,716 5.15%, 8/9/99 4,689,689
Finova Capital Corp.
15,000 5.35%, 7/14/99 14,971,021
14,000 5.06%, 7/19/99 13,964,580
5,000 5.06%, 7/21/99 4,985,944
8,000 5.12%, 7/26/99 7,971,556
First Data Corp.
17,778 5.04%, 8/17/99 17,661,021
Ford Motor Credit Corp.
204,747 4.81%, 7/8/99 204,555,505
73,000 5.02%, 8/20/99 72,491,028
47,643 5.03%, 8/24/99 47,283,534
GE Capital International Funding
60,000 5.28%, 2/14/00 57,993,600
50,000 5.31%, 2/14/00 48,318,500
General Electric Capital Corp.
86,000 4.90%, 7/19/99 85,789,300
49,000 4.82%, 7/23/99 48,855,668
General Motors Acceptance Corp.
193,242 5.04%, 8/23/99 191,808,144
Hartford Financial Services
20,090 5.07%, 7/27/99 20,016,437
Household Finance Corp.
31,000 5.02%, 7/19/99 30,922,190
Johnson Controls, Inc.
36,000 5.00%, 7/30/99 35,855,000
Mont Blanc Capital Corp.
35,000 4.91%, 7/7/99 34,971,358
24,000 4.91%, 7/9/99 23,973,813
Monte Rosa Capital Corp.
38,719 5.07%, 7/20/99 38,615,394
132,600 5.05%, 7/22/99 132,209,382
25,000 5.10%, 8/5/99 24,876,042
Morgan Stanley Group, Inc.(b)
38,000 5.16%, 2/14/00 38,000,000
Nationwide Building Society
50,000 4.88%, 8/24/99 49,634,000
150,000 4.88%, 8/26/99 148,861,333
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 4

<PAGE>

Portfolio of Investments as of
June 30, 1999 (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Principal
Amount
(000) Description Value (Note 1)
<C> <S> <C>
- ------------------------------------------------------------
Commercial Paper (cont'd.)
Nordbanken North America, Inc.
$ 62,000 5.10%, 8/23/99 $ 61,534,483
Old Line Funding Corp.
17,000 4.88%, 7/2/99 16,997,696
16,797 5.07%, 8/2/99 16,721,302
34,000 5.07%, 8/6/99 33,827,620
Petrofina Deleware, Inc.
9,000 5.00%, 7/9/99 8,990,000
PNC Funding Corp.
22,000 5.10%, 8/23/99 21,834,817
Potomac Electric Power Co.
6,000 5.00%, 7/9/99 5,993,333
Preferred Receivables Funding
Corp.
4,506 5.04%, 7/19/99 4,494,645
50,000 5.05%, 8/5/99 49,754,514
18,000 5.16%, 8/23/99 17,863,260
Quincy Capital Corp.
8,000 5.07%, 8/17/99 7,947,047
Receivables Capital Corp.
32,000 5.07%, 8/3/99 31,851,280
SAFECO Corp.
24,000 4.88%, 7/19/99 23,941,440
34,000 5.10%, 8/12/99 33,797,700
13,000 5.09%, 8/13/99 12,920,964
21,000 5.10%, 8/27/99 20,830,425
Salomon Smith Barney Holdings,
Inc.
86,900 5.05%, 8/4/99 86,485,535
Skandinaviska Enskilda Banken
32,000 5.02%, 7/21/99 31,910,756
Thunder Bay Funding, Inc.
14,454 5.06%, 7/19/99 14,417,431
52,681 5.00%, 7/23/99 52,520,030
Variable Funding Capital Corp.
$ 10,000 5.05%, 7/19/99 $ 9,974,750
Windmill Funding Corp.
39,000 4.90%, 7/23/99 38,883,217
35,000 5.17%, 7/26/99 34,874,340
25,000 5.18%, 8/5/99 24,874,097
12,000 5.18%, 8/23/99 11,908,487
Wood Street Funding Corp.
12,307 5.04%, 7/16/99 12,281,155
--------------
3,153,815,774
- ------------------------------------------------------------
Other Corporate Obligations--19.3%
Abbey National Treasury Services
PLC
50,000 5.29%, 5/22/00 49,974,238
Associates Corporation North
America
200,000 5.0965%, 7/29/99 199,860,765
Bishops Gale Residental
Mortgage(b)
41,000 5.14375%, 7/1/99 41,000,000
General Electric Capital Corp.(b)
59,000 4.95%, 8/12/99 59,000,000
Goldman, Sachs Group, L.P.(b)
370,700 5.09484%, 7/19/99 370,700,000
John Hancock Capital Corp.
35,000 5.08%, 7/13/99 35,000,000
Restructured Asset Certificates(b)
122,000 4.93375%, 7/2/99 122,000,000
117,000 5.0525%, 7/12/99 117,000,000
Security Life Of Denver Corp.(b)
14,000 5.07%, 7/12/99 14,000,000
Strategic Money Market Trust(b)
69,000 5.20375%, 9/15/99 69,000,000
179,000 5.255%, 9/16/99 179,000,000
--------------
1,256,535,003
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 5

<PAGE>

The industry classification of portfolio holdings and other assets in excess of
liabilities shown as a percentage of net assets as of June 30, 1999 was as
follows:
<TABLE>
<S> <C>
Commercial Banks..................................... 45.8%
Asset Backed Securities.............................. 13.7
Motor Vehicle........................................ 11.0
Security Brokers & Dealers........................... 7.7
Short-Term Business Credit........................... 5.8
Personal Credit Institutions......................... 4.7
Fire & Marine Casualty Insurance..................... 3.6
Federal Credit....................................... 3.2
U.S. Treasury........................................ 1.9
Refuse System........................................ 1.8
Bank Holding Companies-Domestic...................... .9
Life Insurance....................................... .8
Mortgage Banks....................................... .8
Regulating Controls.................................. .7
Electric Industry.................................... .2
Pipelines............................................ .1
-----
102.7
Liabilities in excess of other assets................ (2.7)
-----
100.0%
-----
-----
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 6

<PAGE>
Statement of Assets and Liabilities
(Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Assets June 30, 1999
--------------
<S> <C>
Investments, at amortized cost which approximates market value.............................................. $6,626,801,996
Receivable for Fund shares sold............................................................................. 172,466,800
Interest receivable......................................................................................... 34,540,848
Deferred expenses and other assets.......................................................................... 93,101
--------------
Total assets............................................................................................. 6,833,902,745
--------------
Liabilities
Bank overdraft.............................................................................................. 84,133
Payable for Fund shares reacquired.......................................................................... 190,797,199
Payable for investments purchased........................................................................... 180,000,000
Dividends payable........................................................................................... 5,926,312
Accrued expenses............................................................................................ 4,871,029
Management fee payable...................................................................................... 1,644,290
Distribution fee payable.................................................................................... 350,252
--------------
Total liabilities........................................................................................ 383,673,215
--------------
Net Assets.................................................................................................. $6,450,229,530
--------------
--------------
Net assets were comprised of:
Common Stock, at par ($.001 par value; 15 billion shares authorized for issuance)........................ $ 6,450,230
Paid-in capital in excess of par......................................................................... 6,443,779,300
--------------
Net assets, June 30, 1999................................................................................... $6,450,229,530
--------------
--------------
Class A:
Net asset value, offering price and redemption price per share
($6,240,440,328 / 6,240,440,328 shares of common stock issued and outstanding)........................ $1.00
--------------
--------------
Class Z:
Net asset value, offering price and redemption price per share
($209,789,202 / 209,789,202 shares of common stock issued and outstanding)............................ $1.00
--------------
--------------
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 7

<PAGE>

PRUDENTIAL MONEYMART ASSETS, INC.
Statement of Operations (Unaudited)
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Six Months
Ended
<S> <C>
Net Investment Income June 30, 1999
Income
Interest................................... $165,022,570
-------------
Expenses
Management fee............................. 9,814,739
Distribution fee--Class A.................. 3,933,758
Transfer agent's fees and expenses......... 7,190,000
Reports to shareholders.................... 560,000
Registration............................... 186,000
Custodian's fees and expenses.............. 99,000
Director's fees and expenses............... 21,000
Audit fees and expenses.................... 18,000
Legal fees and expenses.................... 15,000
Miscellaneous.............................. 73,465
-------------
Total expenses.......................... 21,910,962
-------------
Net investment income......................... 143,111,608
-------------
Net Realized Gain on Investments
Net realized gain on investment
transactions............................... 26,623
-------------
Net Increase in Net Assets
Resulting from Operations..................... $143,138,231
-------------
-------------
</TABLE>

PRUDENTIAL MONEYMART ASSETS, INC.
Statement of Changes in Net Assets (Unaudited)
- ------------------------------------------------------------
<TABLE>
<CAPTION>
Six Months
Ended Year Ended
Increase (Decrease) June 30, December 31,
in Net Assets 1999 1998
<S> <C> <C>
Operations
Net investment income... $ 143,111,608 $ 346,805,006
Net realized gain on
investment
transactions......... 26,623 24,512
---------------- ----------------
Net increase in net
assets resulting from
operations........... 143,138,231 346,829,518
---------------- ----------------
Dividends and distributions
to shareholders (Note 1)
Class A.............. (138,260,310) (336,977,571)
Class Z.............. (4,877,921) (9,851,947)
---------------- ----------------
(143,138,231) (346,829,518)
---------------- ----------------
Fund share transactions
(Note 4)
(At $1.00 per share)
Proceeds from shares
sold................. 16,549,680,329 30,787,213,555
Net asset value of
shares issued to
shareholders in
reinvestment of
dividends and
distributions........ 131,817,290 329,144,169
Cost of shares
reacquired........... (16,595,591,449) (31,773,032,919)
---------------- ----------------
Net increase (decrease)
in net assets from
Fund share
transactions......... 85,906,170 (656,675,195)
---------------- ----------------
Total increase
(decrease).............. 85,906,170 (656,675,195)
Net Assets
Beginning of period........ 6,364,323,360 7,020,998,555
---------------- ----------------
End of period.............. $ 6,450,229,530 $ 6,364,323,360
---------------- ----------------
---------------- ----------------
</TABLE>
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 8

<PAGE>
Notes to Financial Statements (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- --------------------------------------------------------------------------------
Prudential MoneyMart Assets, Inc. (the 'Fund') is registered under the
Investment Company Act of 1940 as a diversified, open-end management investment
company. The Fund invests primarily in a portfolio of money market instruments
maturing in thirteen months or less whose ratings are within the two highest
rating categories by a nationally recognized statistical rating organization or,
if not rated, are of comparable quality. The ability of the issuers of the
securities held by the Fund to meet their obligations may be affected by
economic developments in a specific industry or region.
- ------------------------------------------------------------
Note 1. Accounting Policies
The following is a summary of significant generally accepted accounting policies
followed by the Fund in the preparation of its financial statements.
Securities Valuations: Portfolio securities 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 and thereafter assuming a constant
amortization to maturity of any discount or premium.
Repurchase Agreements: In connection with transactions in repurchase agreements
with U.S. financial institutions, it is the Fund's policy that its custodian or
designated subcustodians, as the case may be under triparty repurchase
agreements, take possession of the underlying collateral securities, the value
of which exceeds the principal amount of the repurchase transaction including
accrued interest. If the seller defaults and the value of the collateral
declines or if bankruptcy proceedings are commenced with respect to the seller
of the security, realization of the collateral by the Fund may be delayed or
limited.
Securities Transactions and Net Investment Income: Security transactions are
recorded on the trade date. Realized gains and losses on sales of investments
are calculated on the identified cost basis. Interest income is recorded on the
accrual basis. Expenses are recorded on the accrual basis which may require the
use of certain estimates by management. Net investment income of the Fund
consists of interest accrued and discount earned less estimated expenses
applicable to the dividend period. Net investment income (other than
distribution fees), and realized gains or losses, if any, 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.
Federal Income Taxes: It is the Fund's 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 investment income to its
shareholders. Therefore, no federal income tax provision is required.
The cost of portfolio securities for federal income tax purposes is
substantially the same as for financial reporting purposes.
Dividends and Distributions: All of the Fund's net investment income and net
realized gains or losses, if any, are declared as dividends daily to the
shareholders of record at the time of such declaration. Payment of dividends is
made monthly.
- ------------------------------------------------------------
Note 2. Agreements
The Fund has a management agreement with Prudential Investments Fund Management
LLC ('PIFM'). Pursuant to this agreement, PIFM has responsibility for all
investment advisory services and supervises the subadviser's performance of such
services. PIFM has entered into a subadvisory agreement with The Prudential
Investment Corporation ('PIC'); PIC furnishes investment advisory services in
connection with the management of the Fund. PIFM pays for the cost of the
subadviser's services, the compensation of officers of the Fund, occupancy and
certain clerical and bookkeeping costs of the Fund. The Fund bears all other
costs and expenses.
The management fee paid PIFM is computed daily and payable monthly, at an annual
rate of .50 of 1% of the Fund's average daily net assets up to $50 million and
.30 of 1% of the Fund's average daily net assets in excess of $50 million.
The Fund has a distribution agreement with Prudential Investment Management
Services LLC ('PIMS'), which acts as the distributor of the Class A and Z shares
of the Fund. The Fund reimburses the distributors for distributing and servicing
the Fund's Class A shares pursuant to the plan of distribution at an annual rate
of .125 of 1% of the average daily net assets of the Class A shares. The Class A
distribution fee is accrued daily and payable monthly. No distribution or
service fees are paid to PIMS as distributor of the Class Z shares of the Fund.
PIFM, PIMS and PIC are indirect, wholly owned subsidiaries of The Prudential
Insurance Company of America.
- --------------------------------------------------------------------------------
9

<PAGE>
Notes to Financial Statements (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- --------------------------------------------------------------------------------
Note 3. Other Transactions with Affiliates
Prudential Mutual Fund Services LLC ('PMFS'), a wholly owned subsidiary of PIFM,
serves as the Fund's transfer agent. During the six months ended June 30, 1999,
the Fund incurred fees of approximately $6,848,800 for the services of PMFS. As
of June 30, 1999, approximately $1,151,300 of such fees were due to PMFS.
Transfer agent fees and expenses in the Statement of Operations include certain
out-of-pocket expenses paid to nonaffiliates.
- ------------------------------------------------------------
Note 4. Capital
The Fund offers Class A and Class Z shares. Class Z shares are not subject to
any distribution and/or service fees and are offered exclusively for sale to a
limited group of investors.
The Fund has authorized 15 billion shares of common stock, $.001 par value per
share, divided into 13 billion authorized Class A shares and 2 billion
authorized Class Z shares. Of the 6,450,229,530 shares of common stock issued
and outstanding at June 30, 1999, PIFM owned 274 shares of Class Z.
Transactions in shares of common stock (at $1 per share) were as follows:
<TABLE>
<CAPTION>
Six months
ended Year ended
June 30, December 31,
1999 1998
---------------- ----------------
<S> <C> <C>
Class A
- ---------------------------
Shares sold................ 16,153,401,170 30,236,936,348
Shares issued in
reinvestment of dividends
and distributions........ 127,247,700 319,520,177
Shares reacquired.......... (16,192,252,223) (31,268,059,561)
---------------- ----------------
Net increase (decrease) in
shares outstanding....... 88,396,647 (711,603,036)
---------------- ----------------
---------------- ----------------
<CAPTION>
Class Z
- ---------------------------
<S> <C> <C>
Shares sold................ 396,279,159 550,277,207
Shares issued in
reinvestment of dividends
and distributions........ 4,569,590 9,623,992
Shares reacquired.......... (403,339,226) (504,973,358)
---------------- ----------------
Net increase (decrease) in
shares outstanding....... (2,490,477) 54,927,841
---------------- ----------------
---------------- ----------------
</TABLE>
- --------------------------------------------------------------------------------
10

<PAGE>
Financial Highlights (Unaudited) PRUDENTIAL MONEYMART ASSETS, INC.
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Class A
-------------------------------------------------------------------------------------
Six months
Ended Year Ended December 31,
June 30, ----------------------------------------------------------------------
1999 1998 1997 1996 1995 1994
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
PER SHARE OPERATING
PERFORMANCE:
Net asset value, beginning of
period..................... $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000
Net investment income and net
realized gains.............. .022 .050 .050 .048 .054 .037
Dividends and distributions to
shareholders................ (.022) (.050) (.050) (.048) (.054) (.037)
---------- ---------- ---------- ---------- ---------- ----------
Net asset value, end of
period..................... $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000
---------- ---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ---------- ----------
TOTAL RETURN(a)............... 2.12% 5.06% 5.09% 4.97% 5.51% 3.72%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(000)...................... $6,240,440 $6,152,044 $6,863,647 $7,315,223 $7,221,658 $6,544,880
Average net assets (000)...... $6,346,174 $6,810,377 $7,121,692 $7,326,023 $6,914,520 $7,071,381
Ratios to average net assets:
Expenses, including
distribution fee........ .68%(c) .69% .70% .71% .69% .71%
Expenses, excluding
distribution fee........ .55%(c) .57% .58% .59% .56% .58%
Net investment income...... 4.39%(c) 4.95% 4.97% 4.83% 5.38% 3.65%
<CAPTION>
Class Z
-----------------------------------------------------
March 1,
Six months Year Ended 1996(b)
Ended December 31, Through
June 30, --------------------- December 31,
1999 1998 1997 1996
---------- -------- -------- ------------
<S> <<C> <C> <C> <C>
PER SHARE OPERATING
PERFORMANCE:
Net asset value, beginning of
period..................... $ 1.000 $ 1.000 $ 1.000 $ 1.000
Net investment income and net
realized gains.............. .022 .051 .051 .040
Dividends and distributions to
shareholders................ (.022) (.051) (.051) (.040)
---------- -------- -------- ------------
Net asset value, end of
period..................... $ 1.000 $ 1.000 $ 1.000 $ 1.000
---------- -------- -------- ------------
---------- -------- -------- ------------
TOTAL RETURN(a)............... 2.19% 5.19% 5.22% 4.12%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period
(000)...................... $209,789 $212,280 $157,352 $149,212
Average net assets (000)...... $217,878 $194,669 $159,508 $121,135
Ratios to average net assets:
Expenses, including
distribution fee........ .55%(c) .57% .58% .59%(c)
Expenses, excluding
distribution fee........ .55%(c) .57% .58% .59%(c)
Net investment income...... 4.51%(c) 5.07% 5.10% 4.86%(c)
</TABLE>
- ---------------
(a) 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 returns for less than a full year are
not annualized.
(b) Commencement of offering of Class Z shares.
(c) Annualized.
- --------------------------------------------------------------------------------
See Notes to Financial Statements. 11

<PAGE>

Getting The Most From Your Prudential Mutual Fund
How many times have you read these letters--or other financial materials--and
stumbled across a word that you don't understand?

Many shareholders have run into the same problem. We'd like to help. So we'll
use this space from time to time to explain some of the words you might have
read, but not understood. And if you have a favorite word that no one can
explain to your satisfaction, please write to us.

Basis Point: 1/100th of 1%. For example, one-half of one percent is 50 basis
points.

Collateralized Mortgage Obligations (CMOs): Mortgage-backed bonds that separate
mortgage pools into different maturity classes, called tranches. These
instruments are sensitive to changes in interest rates and homeowner
refinancing activity. They are subject to prepayment and maturity extension
risk.

Derivatives: Securities that derive their value from other securities. The
rate of return of these financial instruments rises and falls--sometimes very
suddenly--in response to changes in some specific interest rate, currency,
stock, or other variable.

Discount Rate: The interest rate charged by the Federal Reserve on loans to
member banks.

Federal Funds Rate: The interest rate charged by one bank to another on
overnight loans.

Futures Contract: An agreement to purchase or sell a specific amount of a
commodity or financial instrument at a set price at a specified date in the
future.

Leverage: The use of borrowed assets to enhance return. The expectation is that
the interest rate charged on borrowed funds will be lower than the return on
the investment. While leverage can increase profits, it can also magnify
losses.

Liquidity: The ease with which a financial instrument (or product) can be
bought or sold (converted into cash) in the financial markets.

Price/Earnings Ratio: The price of a share of stock divided by the earnings
per share for a 12-month period.

Option: An agreement to purchase or sell something, such as shares of stock,
by a certain time for a specified price. An option need not be exercised.

Spread: The difference between two values; often used to describe the
difference between "bid" and "asked" prices of a security, or between the
yields of two similar maturity bonds.

Yankee Bond: A bond sold by a foreign company or government in the U.S. market
and denominated in U.S. dollars.

<PAGE>

Prudential Mutual Funds
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

(800) 225-1852http://www.prudential.com

Directors
Edward D. Beach
Delayne Dedrick Gold
Robert F. Gunia
Robert E. LaBlanc
Robin B. Smith
Stephen Stoneburn
John R. Strangfeld
Nancy H. Teeters

Officers
John R. Strangfeld, President
Robert F. Gunia, Vice President
Grace C. Torres, Treasurer
Stephen M. Ungerman, Assistant Treasurer
Robert C. Rosselot, Secretary

Manager
Prudential Investments Fund Management LLC
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

Investment Adviser
The Prudential Investment Corporation
Prudential Plaza
Newark, NJ 07102-3777

Distributor
Prudential Investment Management Services LLC
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077

Custodian
State Street Bank and Trust Company
One Heritage Drive
North Quincy, MA 02171

Transfer Agent
Prudential Mutual Fund Services LLC
P.O. Box 15005
New Brunswick, NJ 08906

Independent Accountants
PricewaterhouseCoopers LLP
1177 Avenue of the Americas
New York, NY 10036

Legal Counsel
Sullivan & Cromwell
125 Broad Street
New York, NY 10004

The views expressed in this report and information about the Fund's portfolio
holdings are for the period covered by this report and are subject to change
thereafter.

The accompanying financial statements as of June 30, 1999, were not audited
and, accordingly, no opinion is expressed on them.

This report is not authorized for distribution to prospective investors unless
preceded or accompanied by a current prospectus.

<PAGE>

(LOGO)
Prudential Mutual Funds
Gateway Center Three
100 Mulberry Street
Newark, NJ 07102-4077
(800) 225-1852

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