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The Prudential Series Fund, Inc.
Supplement dated February 26, 1999 to
Prospectus dated May 1, 1998
The following disclosure replaces in its entirety the fourth paragraph under the
heading, "Investment Objectives and Policies of the Portfolios--Balanced
Portfolios--Flexible Managed Portfolio" in the Prospectus:
The bond portion of this portfolio will primarily be invested in securities
that have a rating at the time of purchase within the four highest grades
determined by Moody's, S&P, or a similar nationally-recognized rating service. A
description of corporate bond ratings is contained in the Appendix to the
statement of additional information. However, up to 25% of the bond component of
this portfolio may be invested in securities having ratings at the time of
purchase of "BB," "Ba" or lower, or if not rated, of comparable quality in the
opinion of the portfolio manager. These securities are considered speculative
and high risk. The risks of medium to lower rated securities, are described in
the Prospectus in connection with the High Yield Bond Portfolio. Up to 20% of
the bond portion of this portfolio may be invested in United States currency
denominated debt securities issued outside the United States by foreign or
domestic issuers. The established company common stock component of this
portfolio will consist of the equity securities of major corporations that are
believed to be in sound financial condition. In selecting stocks of smaller
capitalization companies, the portfolio manager may invest in companies that
show above average profitability (measured by return-on-equity, earnings, and
dividend growth rates) with modest price/earnings ratios or alternatively, in
companies whose stock is undervalued relative to other stocks in the market. The
individual equity selections for this portfolio may have more volatile market
values than the equity securities selected for the Equity Portfolio or the
Conservative Balanced Portfolio. The portfolio may also invest in preferred
stock, including below investment grade preferred stock, and other
equity-related securities. The money market portion of the portfolio will hold
high quality money market instruments of the kind held by the Money Market
Portfolio.
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Moreover, when conditions dictate a temporary defensive strategy or during
temporary periods of portfolio structuring and restructuring, the Flexible
Managed Portfolio may invest, without limit, in high quality money market
instruments of the kind held by the Money Market Portfolio.
The following disclosure replaces in its entirety the seventh paragraph under
the heading, "Investment Objectives and Policies of the Portfolios--Balanced
Portfolios--Flexible Managed Portfolio" in the Prospectus:
The facts that this portfolio will invest in a mix of common stocks regarded
as having higher risks than the mix of common stocks that will be purchased by
the Conservative Balanced Portfolio; that the bond portion of its portfolio will
include a higher percentage of bonds having ratings at the time of purchase of
"BB," "Ba" or lower (or if unrated, of comparable quality); and that the
"normal" mix for this portfolio will include a higher percentage of stocks all
combine to mean that the risk of investing in this portfolio is relatively
higher - to the extent that each of these factors results in greater risks -
than the risk of investing in the Conservative Balanced Portfolio.
