Global Natural Resources

Equity

Global Natural Resources

Top-down commodity analysis fused with bottom-up, fundamental research

Overview

Utilizing top-down analysis fused with bottom-up, fundamental research to uncover companies that can organically grow both reserves and production, control costs, and provide the needed technology and infrastructure used in the search for reserves and the final production process
We believe focusing on a long-term secular opportunities, rather than short-term tactical considerations can generate excess returns over the long-term

Characteristics & Performance

Composite Inception	1991
Strategy AUM	$0.7 Billion as of 3/31/25
Benchmark	Global Natural Resources Custom Index
Holdings Range	Typically 60 – 80

Performance results are calculated in US dollars and reflect reinvestment of dividends and other earnings. Periods greater than one year are annualized. Please refer to the GIPS presentation, which includes fee information and criteria for composite performance creation.

Available Vehicles

Institutional Separate Account

US Mutual Fund

Investment Team

Our Natural Resources team is comprised of two portfolio manager/analysts and two dedicated analysts. Additionally, the team is supported by the sharing of intellectual capital and close interaction across Jennison’s energy value chain research approach, which consists of specialized analysts that focus on those specific sectors/industries within the upstream, midstream, and downstream energy infrastructure space.

The close interaction of portfolio managers and analysts provides a forum in which investment ideas and conviction in specific securities are born. The extensive knowledge and experience investing within these specialized industries contributes to our deep understanding across the entire energy value chain and we believe can provide us a competitive advantage in constructing specialty sector-oriented portfolios on behalf of our clients.