Unconstrained, Concentrated Approach to International Growth
Seeks to outperform the MSCI Emerging Markets Index by:
- Investing in companies around the developing world believed to be market leaders with sustainable competitive advantages
- Capturing market upside and tempering market downside
- Dampening portfolio volatility by monitoring correlations of individual holdings and the overall portfolio
- Seek to identify companies in early stages of inflection point in growth
- Believe investing in companies with strong home-market positions and limited dependence on exports, government subsidization, commodities cycles, or global growth reduces volatility
- Agnostic about source of growth: disruptive or game-changing technology, product, or service; new product cycle or market expansion; inflection point in industry growth; increase in addressable market; best-of-breed leadership; restructuring synergies
- Benchmark-, region-, and market-cap-agnostic view focuses on companies rather than countries, sectors, or macroeconomic themes
- Disciplined process; bottom-up stock selection based on focused fundamental research drives returns over market cycles
- Flexibility to invest in attractively priced growth stocks across market capitalizations; not constrained by index, sector, country, region allocations
- With high active risk and reasonable concentration, high-conviction ideas drive returns over market cycles
- Focus on portfolio correlations and sell discipline seek to temper exposure to market downside
The Emerging Markets team seeks to identify companies based in developing markets that are at an inflection point in their growth. The team is agnostic about the source of growth, which could include a disruptive or game-changing technology, product, or service; a new product cycle or market expansion; an inflection point in industry growth; an increase in an addressable market; best-of-breed leadership in a particular niche; or restructuring synergies. The team has the flexibility to construct the portfolio with attractively priced growth stocks across market capitalizations and is not constrained by index sector, country, or region allocations.
The investment team believes that investing in companies with strong home-market positions and limited dependence on exports, government subsidization, commodities cycles, or global growth reduces volatility. The team believes that capturing these opportunities consistently requires a disciplined investment process and focused fundamental research.
|Benchmark:||MSCI Emerging Markets Index|
|Number of Holdings:||Typically 35 – 45|
|Average Position Size:||1 – 4% of portfolio|
|Top Ten Positions:||Typically 35 – 45%|
|Active Share:||> 90%|
Capital at Risk: Please remember that there are inherent risks involved with investing in the markets, and your investments may be worth more or less than your initial investment upon redemption. There is no guarantee that the investment managers’ objectives will be achieved. Professional money management is not suitable for all investors.
Emerging Markets portfolios are managed by three portfolio managers. The strategy has access to 27 sector research analysts, many of whom are global sector specialists who also work on other equity strategies.
Meet the Team
This website is intended for Institutional and Professional Investors only.
Please remember that there are inherent risks involved with investing in the markets, and your investments may be worth more or less than your initial investment upon redemption. There is no guarantee that the investment managers’ objectives will be achieved. Professional money management is not suitable for all investors.
This web site is not intended as an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services.The does not constitute investment advice and should not be used as the basis for any investment decision. There is no assurance that the strategy objectives as discussed will be met. Further, there is no assurance that any strategies, methods, sectors, or any investment programs herein were or will prove to be profitable, or that any investment recommendations or decisions we make in the future will be profitable for any investor or client.These materials do not purport to provide any legal, tax or accounting advice.
The risks associated with investing include but are not limited to: derivative securities, which may carry market, credit, and liquidity risks; short sales, which involve costs and the risk of potentially unlimited losses; leveraging, which may magnify losses; high yield (“junk”) bonds, which are subject to greater market risks; small/mid cap stocks which may be subject to more erratic market movements than large cap stocks; foreign securities, which are subject to currency fluctuation and political uncertainty; real estate, which poses certain risks related to overall and specific economic conditions as well as risks related to individual property, credit and interest-rate fluctuations; and mortgage-backed securities, which are subject to prepayment and extension risks.
Thematic and concentrated portfolios may not be suitable for all investors. Such portfolios are non-diversified, so a loss resulting from a particular security will have greater impact on the portfolio’s return. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise.
Your investment objectives, risk tolerance, and liquidity needs must be reviewed before suitable programs can be recommended. Asset allocation and diversification strategies do not assure a profit or protect against loss in declining markets. Investors should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation.
In the UK: The information contained herein is provided by PGIM, Inc., the principal asset management business of Prudential Financial, Inc. (PFI), Both Jennison, and PGIM are U.S. SEC registered investment advisers. Jennison is a wholly-owned subsidiary of PGIM, which is the principal asset management business of PFI, a company incorporated and with its principal place of business in the United States. PFI is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.
PGIM Limited registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR is authorised and regulated by the Financial Conduct Authority of the United Kingdom (registration number 193418) and duly passported in various jurisdictions in the EEA. These materials are issued to persons who are professional clients or eligible counterparties for the purposes of the Financial Conduct Authority’s Conduct of Business Sourcebook.
In certain countries in Asia, information is presented by PGIM Singapore, a Singapore investment manager registered with and licensed by the Monetary Authority of Singapore.
In Japan, information is presented by PIMJ, registered investment adviser with the Japanese Financial Services Agency.
In South Korea, information is presented by PGIM, Inc., which is licensed to provide discretionary investment management services directly to South Korean investors.
In Hong Kong, information is presented by representatives of PGIM (Hong Kong) Limited, a regulated entity with the Securities and Futures Commission in Hong Kong to professional investors as defined in Part 1 of Schedule 1 of the Securities and Futures Ordinance.