Financial
Services

Unconstrained, High Conviction Approach Across the Full Spectrum of Financial Services Businesses

KEY CHARACTERISTICS & MATERIALS



OVERVIEW

  • 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

 



CHARACTERISTICS

Composite Inception:
Strategy AUM:
Benchmark:
No. of Holdings:
Max. Positions Size:
Turnover:
Available Vehicles:


11/30/17
$155.3 Million as of 6/30/19
S&P Composite 1500 Financials Index
Typically 25 – 40
Typically <7%
50 - 75%
  • Institutional Separate Account
  • Mutual Fund







  • PORTFOLIO MANAGEMENT



    Steven A. Gavios

    Managing Director

    Steven A. Gavios

    Managing Director

    VIEW BIO

    Jonathan M. Shapiro

    Managing Director

    Jonathan M. Shapiro

    Managing Director

    VIEW BIO

    Andrew M. Tucker, CFA

    Managing Director

    Andrew M. Tucker, CFA

    Managing Director

    VIEW BIO

    Experienced, interactive and overlapping analyst coverage across all financial services sectors.

    Meet The Team




    PERFORMANCE DATA


    As of June 30, 2019Qtr1 Year3 Year5 Year10 YearSince Inception
    Financial Services Equity Composite - Gross7.34.2---4.4
    Financial Services Equity Composite - Net7.23.6---3.8
    S&P 1500 Super Composite Financials Index7.85.5---2.2


    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 click here to view the GIPS presentation for additional details, important performance information and disclosures.

     

    This website is intended for Institutional and Professional Investors only.

    Jennison Associates is a registered investment advisor and a Prudential Financial company. 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.

    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.

    Additional considerations:
    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.