The global equities category represents the pinnacle of stock selection, offering active managers the broadest possible opportunity set. In Asset TV’s latest Fund Selector Masterclass, Nick Samuels, Managing Director at Jennison Associates, assesses current market conditions and shares his team’s approach to identifying the world’s most compelling equity opportunities as part of an engaging panel discussion.
Nick describes how the Jennison team aims to develop an investment edge on disruptive, innovative companies before the market recognises their full potential. While portfolio holdings share similar growth characteristics, he highlights how emphasising company-specific drivers results in a collection of companies with low-correlations among them.
A strict sell discipline plays a critical role in ensuring the PGIM Jennison Global Equity Opportunities Fund consistently represents the investment team’s best ideas. “If you're going to be a successful growth investor, you need a strong sell discipline,” Nick explained. “It's not a buy-and-hold type of market.”
Hosted by Asset TV’s Mark Colgate, the panel also includes fund selector James Green, Director of Investment Management at Evelyn Partners, and fund managers Obe Ejikeme from Carmignac and John William Olsen from M&G. Together the panel discusses macroeconomic trends, ESG considerations and topical market themes.
Watch the full masterclass for detailed insights on optimising the global equity opportunity.
Currency Risk: The value of investments in the Fund that are designated in a currency other than the base currency for the Fund may rise and fall due to exchange rate fluctuations.
Custodial Risk: Assets which are traded in markets where custodial and/or settlement systems are not fully developed may be exposed to risk in circumstances where the custodian will have no liability.
Emerging Market Risk: The Fund invests in emerging markets, which may experience political, market, social, regulatory, and/or economic instabilities. These instabilities may reduce the value of the Fund's investments.
Growth Style Risk: The Fund's growth style may subject the Fund to above average fluctuations. There is the risk that the growth investment style may be out of favour for a period of time, and when the style is out of favour the Fund may underperform the market in general.
Market Risk: Investments are subject to normal market fluctuations and the risks inherent in investment in international securities markets.
Political Risk: The value of the Fund's investments may be affected by uncertainties such as international policy developments, social instability and changes in government policies. This can result in more pronounced risks where conditions have a particular impact on one or more countries or regions.
Principal Investment Strategies: There are risks associated with the Fund's principal investment strategies, including that because the Fund may invest a large portion of its assets in a single country or region of the world, the Fund's investments may be geographically concentrated, which can result in more pronounced risks based upon economic conditions that impact one or more countries or regions.
Socially Responsible Investment Risk: The Fund may achieve lower returns than an equivalent fund which does not pursue a socially responsible mandate.
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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