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THE PRUDENTIAL SERIES FUND, INC.
with respect to
Pruco Life Variable Appreciable Account
The Prudential Variable Appreciable Account
Variable Universal Life Contract
Supplement dated October 21, 1999
Prospectus dated May 1, 1999
The following disclosure replaces the first paragraph in the
Section "How the Portfolios are Managed - Portfolio Managers" in
the Prospectus:
Prudential Investments' Fixed Income Group manages more than
$135 billion for Prudential's retail investors, institutional
investors, and policyholders. Senior Managing Directors James
J. Sullivan and Jack W. Gaston head the Group, which is organized
into teams specializing in different market sectors. Top-down,
broad investment decisions are made by the Fixed Income Policy
Committee, whereas bottom-up security selection is made by the
sector teams.
Mr. Sullivan has overall responsibility for overseeing
portfolio management and credit research. Prior to joining
Prudential Investments in 1998, he was a managing director
in Prudential's Capital Management Group, where he oversaw
portfolio management and credit research for Prudential's General
Account and subsidiary fixed-income portfolios. He has more
than 16 years of experience in risk management, arbitrage
trading, and corporate bond investing.
Mr. Gaston has overall responsibility for overseeing quantitative
research and risk management. Prior to this appointment in
1999, he was senior managing director of the Capital Management Group
where he was responsible for the investment performance and
risk management for Prudential's General Account and subsidiary
fixed-income portfolios. He has more than 20 years of experience
in investment management, including extensive experience applying
quantitative techniques to portfolio management.
The Fixed Income Investment Policy Committee is comprised of
key senior investment managers. Members include seven sector
team leaders, the chief investment strategist, and the head of
risk management. The Committee uses a top-down approach to
investment strategy, asset allocation, and
general risk management, identifying sectors in which to invest.
In the same section, "How the Portfolios are Managed - Portfolio
Managers," under the sub-heading "Conservative Balanced Portfolio
& Flexible Managed Portfolio," the third paragraph is
replaced by the following:
PSF-2A-SUP
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The Corporate Team, headed by Steven Kellner, is primarily
responsible for overseeing the day-to-day management of the
Portfolio. This Team uses a bottom-up approach, which focuses
on individual securities, while staying within the guidelines
of the Investment Policy Committee and the Portfolios'
investment restrictions and policies. In addition, the
Credit Research team of analysts supports the sector
teams using bottom-up fundamentals, as well as economic
and industry trends. Other sector teams may
contribute to securities selection when appropriate.
Corporate
Assets Under Management (as of June 30, 1999): $48.6 billion.
Team Leader: Steven Kellner. General Investment Experience: 13 years.
Portfolio Managers: 8. Average General Investment Experience: 13 years,
which includes team members with mutual fund experience.
Sector: U.S. investment-grade corporate securities.
Investment Strategy: Focus is on identifying spread, credit quality
and liquidity trends to capitalize on changing opportunities in
the market. Ultimately, they seek the highest expected return
with the least risk.
In the same section "How the Portfolios are Managed" under the
subheading: "Diversified Bond Portfolio," the entire paragraph
is replaced by the following:
The Corporate Team, headed by Steven Kellner, is primarily
responsible for overseeing the day-to-day management of
the Portfolio. This Team uses a bottom-up
approach, which focuses on individual securities,
while staying within the guidelines of the
Investment Policy Committee and the Portfolio's investment
restrictions and policies. In addition, the Credit Research
team of analysts supports the sector teams using bottom-up
fundamentals, as well as economic and industry trends.
Other sector teams may contribute to securities selection
when appropriate.
Corporate
Assets Under Management (as of June 30, 1999): $48.6 billion.
Team Leader: Steven Kellner. General Investment Experience: 13 years.
Portfolio Managers: 8. Average General Investment Experience: 13 years,
which includes team members with mutual fund experience.
Sector: U.S. investment-grade corporate securities.
Investment Strategy: Focus is on identifying spread, credit
quality and liquidity trends to capitalize on changing opportunities
in the market. Ultimately, they seek the highest expected
return with the least risk.
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In the same section "How the Portfolios are Managed" under
the subheading: "High Yield Bond Portfolio," the entire
paragraph is replaced by the following:
The High Yield Team, headed by Casey Walsh, is primarily
responsible for overseeing the day-to-day management of the
Portfolio. This Team uses a bottom-up approach, which focuses
on individual securities, while staying within the
guidelines of the Investment Policy Committee and the Portfolio's
investment restrictions and policies. In addition, the Credit
Research team of analysts supports the sector teams using
bottom-up fundamentals, as well as economic and industry trends.
Other sector teams may contribute to securities selection
when appropriate.
High Yield
Assets Under Management (as of June 30, 1999): $9.9 billion.
Team Leader: Casey Walsh. General Investment Experience: 17 years.
Portfolio Managers: 7. Average General Investment Experience:
19 years, which includes team members with significant
mutual fund experience.
Sector: Below-investment-grade corporate securities.
Investment Strategy: Focus is generally on bonds with
high total return potential, given existing risk parameters.
They also seek securities with high current income, as appropriate.
The Team uses a relative value approach.
