Unconstrained, high conviction approach across the full spectrum of financial services businesses
KEY CHARACTERISTICS & MATERIALS
- Team approach leverages three independent sources from our Growth, Value, and Small/Mid Cap teams
- Holdings are biased toward differentiated business models with fundamentals inflecting higher, high quality management teams, and non-traditional industries with long duration growth profiles
$0.1 Billion as of 3/31/20
|Benchmark:||S&P Composite 1500 Financials Index|
|No. of Holdings:||Typically 25 – 40|
|Max. Positions Size:||Typically <7%|
Experienced, interactive and overlapping analyst coverage across all financial services sectors.Meet The Team
|As of March 31, 2020||Qtr||1 Year||3 Year||5 Year||10 Year||Since Inception|
|Financial Services Equity Composite - Gross||-31.5||-18.9||-||-||-||-8.7|
|Financial Services Equity Composite - Net*||-31.5||-19.3||-||-||-||-9.2|
|S&P 1500 Super Composite Financials Index||-32.1||-18.0||-||-||-||-9.7|
*Net of fee performance shown reflects the deduction of a model fee. Due to the inclusion of performance based fee accounts, model net of fee performance presented herein may be higher or lower than the actual net of fee performance of the composite. Model net of fee performance is based on the highest tier of the standard asset-based fee schedule (0.55%). Actual net of fee returns are available upon request and are calculated using estimated performance fee accruals, where applicable, which are subject to change based on the account’s performance as of each period end until the actual fees are invoiced. Inception of Financial Services Equity Composite: 11/30/17. Periods greater than 1 year are annualized unless otherwise noted. See Financial Services Equity Composite presentation and Portfolio Notes in the Appendix for additional performance information and term definitions. Past performance does not guarantee future results.
Source: Jennison/Standard & Poor’s or FT Interactive Data Corporation. Past performance does not guarantee future results. Performance results are calculated in US dollars and reflect reinvestment of dividends and other earnings. Inception of Financial Services Equity Composite: 11/30/17. Periods greater than one year are annualized. Please refer to the GIPS presentation for additional details, important performance information and disclosures.
Jennison Associates is a registered investment advisor and a Prudential Financial company. Jennison Associates LLC has not been licensed or registered to provide investment services in any jurisdiction outside the United States. Certain investment vehicles are distributed or offered through Prudential Investment Management Services LLC (also a Prudential Financial Company) or other affiliated entities. Additionally, vehicles may not be registered or available for investment in all jurisdictions.
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