A comprehensive approach to utility investing
KEY CHARACTERISTICS & MATERIALS
- Jennison has been a pioneer in utility investing managing one of the largest US utility mutual fund strategies since the 1990s
- Broader definition of the universe enables us to invest in traditional, regulated utility companies, but also incorporates a broader universe to include midstream infrastructure, telecom services/infrastructure companies
$2.9 Billion as of 3/31/20
|Benchmark:||S&P 500 Utilities Index|
|No. of Holdings:||Typically 40 – 60|
|Turnover:||30 - 45% under normal market conditions|
Our Utility team is a part of Jennison’s Value investment suite which also includes our Large Cap Value, Focused Value, Core Equity, Equity Income, Rising Dividend, Global Infrastructure, MLP and Global Natural Resources strategies. Jennison has been a pioneer in utility investing with a history dating back to the 1970’s and has been managing one of the largest utility strategies in the US since the 1990’s. Our investment teams’ extensive experience within the utility and telecommunication sectors, which have historically been dividend-oriented sectors, is complemented by our midstream energy infrastructure experience.Meet The Team
|As of March 31, 2020||Qtr||1 Year||3 Year||5 Year||10 Year||Since Inception|
|Utility Equity Composite - Gross||-14.4||-2.8||6.3||5.7||11.2||10.7|
|Utility Equity Composite - Net*||-14.6||-3.3||5.9||5.4||10.9||10.1|
|S&P Composite 1500 Utilities Index||-14.0||-2.8||5.9||8.3||10.7||-|
*Beginning 4/1/18, net of fees performance shown reflects the deduction of a model fee.
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 Utility Equity Composite: 7/31/94. Inception of S&P Composite 1500® Utilities Index: 12/31/94. 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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