Exhibit 99.(6)(k)(ii)
Execution Version
Amendment to Subadvisory Agreement
for AST CORE FIXED INCOME Portfolio OF
ADVANCED SERIES TRUST
AST Investment Services, Inc., PGIM Investments LLC (collectively, the "Manager"), and Western Asset Management Company, LLC, a California limited liability company (the "Subadviser") hereby agree to amend the Subadvisory Agreement, dated as of July 31, 2020 (the "Agreement"), by and among the Manager and the Subadviser, pursuant to which the Subadviser has been retained to provide investment advisory services to the AST Core Fixed Income Portfolio (formerly, AST Western Asset Core Plus Bond Portfolio), as follows:
| 1. | All references to "AST Western Asset Core Plus Bond Portfolio" are hereby changed to "AST Core Fixed Income Portfolio"; and |
| 2. | Schedule A to the Agreement is hereby deleted and replaced with the attached Schedule A. |
IN WITNESS HEREOF, AST Investment Services, Inc., PGIM Investments LLC, and Western Asset Management Company, LLC have duly executed this Amendment as of the effective date of this Amendment.
| | AST INVESTMENT SERVICES, INC. |
| | | |
| | By: | /s/ Timothy Cronin |
| | Name: | Timothy Cronin |
| | Title: | President |
| | | |
| | PGIM INVESTMENTS LLC |
| | | |
| | By: | /s/ Timothy Cronin |
| | Name: | Timothy Cronin |
| | Title: | Senior Vice President |
| | | |
| | WESTERN ASSET MANAGEMENT COMPANY, LLC |
| | | |
| | By: | /s/ Marzo Bernardi |
| | Name: | Marzo Bernardi |
| | Title: | Director of Global Client Service and Marketing |
Effective Date as Revised: September 27, 2024
SCHEDULE A
Advanced Series Trust
AST Core Fixed Income Portfolio
As compensation for services provided by Western Asset Management Company, LLC ("WAMCO"), PGIM Investments LLC and AST Investment Services, Inc. will pay WAMCO a subadvisory fee on the net assets managed by WAMCO that is equal, on an annualized basis, to the following:
| Portfolio | Subadvisory Fee*,** |
| AST Core Fixed Income Portfolio | 0.160% of average daily net assets |
* For purposes of calculating the subadvisory fee, the assets managed by WAMCO in the AST Core Fixed Income Portfolio will be aggregated with the assets managed by Western Asset Management Company Limited ("WAML") in the AST Core Fixed Income Portfolio.
** In the event WAMCO and WAML invest Portfolio assets in other pooled investment vehicles they manage or subadvise, WAMCO and WAML will waive their subadvisory fee for the Portfolio in an amount equal to the acquired fund fee paid to WAMCO and WAML with respect to the Portfolio assets invested in such acquired fund. Notwithstanding the foregoing, the subadvisory fee waivers will not exceed 100% of the subadvisory fee.
Effective Date as Revised: September 27, 2024
