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The literary classic “Around the World in 80 Days” begins in 1872 London, when Phileas Fogg makes a high-stakes wager that he can circumvent the globe in just 80 days. Fogg and his redoubtable valet encounter many adventures on their trip, with thrilling tales of derring-do and madcap escapes.
The Jennison Associates Global Equity team’s journey around the world is, on the surface, very different. First, it starts in Boston in 2004 and spans two decades. However, like Fogg and his companion, they have encountered challenges, discovered opportunities, had a few adventures of our own, and learned many lessons along the way.
The most important is that their approach - despite a range of different market environments and geographies - has delivered for clients. Jennison Associates seek to identify companies that deliver above-average, sustainable growth over the long term. These companies can generate the strongest compound returns over time, a role that has been amply rewarded by investors and can drive portfolio outperformance. These opportunities, however, are rare. They require experienced, skilled, and well-resourced investors to uncover, and portfolios need to be carefully constructed and managed for risk.
As detailed in this latest whitepaper, Jennison Associates have honed their approach to global equity investing over the past two decades. While their own story is admittedly not as colourful as the literary classic “Around the World in 80 Days”, the insights are hopefully helpful, intriguing, and ultimately rewarding.
Please read on to learn more.
References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities. The securities referenced may or may not be held in the portfolio at the time of publication and, if such securities are held, no representation is being made that such securities will continue to be held.
The views expressed herein are those of PGIM investment professionals at the time the comments were made, may not be reflective of their current opinions, and are subject to change without notice. Neither the information contained herein nor any opinion expressed shall be construed to constitute investment advice or an offer to sell or a solicitation to buy any securities mentioned herein. Neither PFI, its affiliates, nor their licensed sales professionals render tax or legal advice. Clients should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation. Certain information in this commentary has been obtained from sources believed to be reliable as of the date presented; however, we cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is current as of the date of issuance (or such earlier date as referenced herein) and is subject to change without notice. The manager has no obligation to update any or all such information; nor do we make any express or implied warranties or representations as to the completeness or accuracy.
Any projections or forecasts presented herein are subject to change without notice. Actual data will vary and may not be reflected here. Projections and forecasts are subject to high levels of uncertainty. Accordingly, any projections or forecasts should be viewed as merely representative of a broad range of possible outcomes. Projections or forecasts are estimated based on assumptions, subject to significant revision, and may change materially as economic and market conditions change.
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