Large Cap
Value

Focused on companies whose intrinsic value increases over time

KEY CHARACTERISTICS & MATERIALS



OVERVIEW

  • A deep understanding of a business gives us an informed view of a company’s intrinsic value – the value derived from the earnings and cash-flow a business generates
  • A long-term investment horizon allows us to capitalize on “time horizon arbitrage” opportunities that can be created by the short-term orientation of market participants
  • We believe utilizing a well-vetted and disciplined process to manage risk, in both security selection and portfolio construction, is critical to adding value and enhancing the probability of achieving consistent and repeatable results

 




    CHARACTERISTICS

Composite Inception: 5/31/00
Strategy AUM: $1.7 Billion as of 3/31/20
Benchmark: Russell 1000® Value Index
No. of Holdings: Typically 60 – 80
Max. Position Size: Typically less than 5%
Turnover: 20 - 25% under normal market conditions
Active Share: Approximately 70 - 80%
Cash: Typically less than 5%
Available Vehicles:
  • Institutional Separate Account
  • Mutual Fund
  • Managed Account (SMA)










PORTFOLIO MANAGEMENT



Warren Koontz, Jr., CFA

Warren Koontz, Jr., CFA

Managing Director

Warren Koontz, Jr., CFA

Managing Director

VIEW BIO
Joseph C. Esposito, CFA

Joseph C. Esposito, CFA

Managing Director

Joseph C. Esposito, CFA

Managing Director

VIEW BIO

Our Large Cap Value team consists of two portfolio managers and two dedicated analysts in what is a highly collaborative process. The team is supported by Jennison’s broader research staff, 17 of whom are active contributors to the Large Cap Value strategy. While decision-making is a team process that involves ongoing collaboration and debate between the portfolio manager and analysts, the portfolio manager makes final investment decisions.

Meet The Team




PERFORMANCE DATA


As of March 31, 2020Qtr1 Year3 Year5 Year10 YearSince Inception
Large Cap Value Equity Composite - Gross-26.7-17.3-1.90.55.76.2
Large Cap Value Equity Composite - Net*-26.8-17.8-2.5-0.25.25.8
Russell 1000 Value Index-26.7-17.2-2.21.97.75.4


*Beginning 8/1/14, net of fees performance shown reflects the deduction of a model fee.
Source: Jennison/Mellon Analytical Solutions. Source for Russell® Index data: Mellon Analytical Solutions. Past performance does not guarantee future results. Performance results are calculated in US dollars and reflect reinvestment of dividends and other earnings. Inception of Large Cap Value Equity Composite: 5/31/00. Periods greater than one year are annualized. Please refer to the GIPS presentation for additional details, important performance information and disclosures.



This website is intended for Institutional and Professional Investors only. All investments involve risk, including the possible loss of capital.

Important 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.

Please click on this disclosure link for important information, including information on non-US jurisdictions.

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. It does not constitute investment advice, should not be used as the basis for any investment decision, and does not purport to provide any legal, tax or accounting advice. This is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

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.

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. 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. Professional money management is not suitable for all investors.

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