In the realm of active stock selection, nothing compares with the vast opportunity set available to managers with a global equities mandate. In Asset TV’s latest Masterclass, Jennison Associates Managing Director Nick Samuels shares his perspective as part of an insightful panel discussion.
Jennison employs a time-tested, fundamentals-driven investment approach designed to identify disruptive, cutting-edge companies before the market recognises their full potential. That consistent focus on innovation invites exposure to changes in the market’s ever-changing mood. “We don't really do dull,” Nick explains. “We're at the growth end of the spectrum.”
Nick describes current market conditions as “narrative driven,” meaning the market shows a tendency to move as investors react to the story of the day related to AI and other major trends with little regard to the implications on the individual-company level. Short-term disconnects between share prices and fundamentals, he asserts, ultimately accrue to the long-term advantage of investors with a full-time focus on fundamentals.
Watch the full Masterclass for details on current conditions, including how return concentration shapes the passive-versus-active debate, relative opportunities in regional markets, company-specific insights and more. Hosted by Asset TV’s Mark Colgate, the panel also includes Bettina Edmondston, Global Investment Director at River Global Investors, and Fraser Thomson, Client Service Director at Baillie Gifford & Co.
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.
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