JENNISON MANAGED ACCOUNTS JENNISON LARGE CAP GROWTH INDIVIDUALLY MANAGED ACCOUNT

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Frank Parker
6 years ago
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1 JENNISON MANAGED ACCOUNTS JENNISON LARGE CAP GROWTH INDIVIDUALLY MANAGED ACCOUNT

WHERE TO LOOK FOR GROWTH Growth stocks play an important role in achieving long-term investment objectives. Yet not all growth companies are created equal.

2 WHERE TO LOOK FOR GROWTH Growth stocks play an important role in achieving long-term investment objectives. Yet not all growth companies are created equal. To find the right stocks that offer the potential for sustainable growth, you need an experienced stock-picking team with a track record for success. Opening a Jennison Large Cap Growth account affords you access to one of the industry s premier large-cap equity managers. Your account will be individually managed with the long-term goal of outperforming the Standard & Poor s 500 Index (S&P 500)* through investment in a diversified portfolio of growth stocks that exhibit sustainable aboveaverage earnings potential. *The S&P 500 Index is a capital-weighted, unmanaged index that provides a broad indicator of stock price movements. Investors cannot directly purchase an index.

JENNISON LARGE CAP GROWTH T HE J ENNISON A DVANTAGE Jennison Associates combines the resources of our own career analysts with some of the top experts on the Street to gain greater insight into

3 JENNISON LARGE CAP GROWTH T HE J ENNISON A DVANTAGE Jennison Associates combines the resources of our own career analysts with some of the top experts on the Street to gain greater insight into companies, market movements, and trends. Our track record of superior performance** can be attributed to several factors: Original Fundamental Research Our investment decisions are based on in-depth proprietary research that identifies the fundamental investment merit in a broad range of companies, industries, and markets. Experienced Investment Professionals Our research team includes specialists in selected industries and sectors. We generate earnings estimates and perform bottom-up fundamental research on a universe of approximately 900 companies. Specialized Growth Equity Investment Teams Our growth equity investment professionals focus on finding companies that we believe have superior absolute and estimated earnings growth relative to the market and their peers at reasonable prices. S TOCK S ELECTION D RIVES THE I NVESTMENT P ROCESS Our portfolio managers are growth specialists who follow a bottom-up stock-by-stock selection process rooted in fundamental research. We focus on reasonably priced growth stocks that are currently demonstrating attractive earnings growth, which we believe to be sustainable over the next 12 to 18 months. We identify stocks of well-established companies with above-average growth prospects, and then evaluate potential risk factors and the security s valuation. We believe such characteristics can lead to above-average growth in current and future revenues and earnings, as well as improve profitability. Once we identify attractive candidates, we conduct an intensive, fundamental review to find those stocks that we believe will achieve superior earnings growth over the intermediate to long term. At the time of purchase, we establish a 12-month upside and downside price target for each security. Our analysts continually review and assess these price targets. We diversify to manage downside risk. Your individually managed portfolio will contain between 40 and 50 stocks, and will be diversified across industries and sectors. We also manage risk by limiting the amount of stock held in an individual company to no more than 5% of the portfolio s value. Our portfolios normally exhibit estimated earnings growth that is superior to the S&P 500 Index. Although we do not manage to the benchmark, we are aware of position weights, performance, and risk relative to the Index. **Past performance is not indicative of future results.

W HAT W E L OOK F OR IN A S TOCK Before purchasing a security, the Jennison investment team discusses its merits and risks, reviewing the fundamental outlook and stock valuation.

Some factors that would merit a security s inclusion are: Above-average revenue and earnings-per-share growth Sustainable or improving profitability Superior management Strong market position Global

The portfolio manager makes the final investment decision with the benefit of input from all of Jennison s equity research professionals.

4 W HAT W E L OOK F OR IN A S TOCK Before purchasing a security, the Jennison investment team discusses its merits and risks, reviewing the fundamental outlook and stock valuation. We also review the stock in the context of the portfolio s overall construction. Some factors that would merit a security s inclusion are: Above-average revenue and earnings-per-share growth Sustainable or improving profitability Superior management Strong market position Global leadership Other distinctive attributes we look for include a unique marketing capability, strong research and development potential, and productive new product flow. The portfolio manager makes the final investment decision with the benefit of input from all of Jennison s equity research professionals. H OW W E B UILD Y OUR P ORTFOLIO All of our equity portfolios follow a classic bottom-up stock-by-stock approach, with our buy and sell decisions rooted in fundamental research STOCKS STOCKS GROWTH CANDIDATES 900 STOCKS JENNISON RESEARCH UNIVERSE Our highest-conviction stock selections Extensive financial analysis narrows the field Start with a broad universe of growth stocks W HEN W E L OOK TO S ELL Discipline is integral to making effective sell decisions. We follow well-defined procedures to limit risks to our clients portfolios. Decisions are based on company fundamentals, including: Earnings that disappoint Stock has met price objective Stock is selling at a premium relative to the market Stock price movement disappoints Outlook no longer seems promising A more attractive stock emerges Security becomes overweighted in portfolio

5 T HE I MPORTANCE OF P ROFESSIONAL G UIDANCE Smart investing begins with a plan one that reflects your unique needs and goals, the time you have to achieve them, and your attitude toward risk. As you create your investment plan, the knowledge and experience of a financial professional can be a valuable advantage. He or she can help you strike a realistic balance between your need to obtain a particular return from an investment and your tolerance for risk. A financial professional will use a variety of sophisticated financial tools, ask the right questions, and help you sort through the various investment options to find the most appropriate solutions. Once your program is in place, a financial professional can help you monitor your investment, make sure your investment remains targeted to your goals, and adjust your plan to meet your changing needs. T HE M ANAGED A CCOUNT D IFFERENCE An individually managed account is a personalized investment program designed to help you get the most out of your wealth. This account offers you: Access to experienced institutional portfolio managers Direct ownership of securities Tax advantages you establish your own cost basis, which means you pay taxes only on what you earn, not the gains of other investors A single annualized fee T HE J ENNISON S TORY Founded in 1969 to provide investment advice for domestic large-capitalization growth equity accounts, Jennison Associates is now one of the nation s leading equity managers, with expertise encompassing growth, value, blend, and international equity strategies. Jennison s competitive distinctions include outstanding, experienced investment professionals, original fundamental research, specialized investment teams, and client service excellence. The depth and experience of our investment teams allow Jennison s investment professionals to pursue enhanced returns and address risk. Adhering to well-defined investment philosophies and disciplines ensures consistent implementation across accounts. Since its inception as an investment manager for large institutions, Jennison has extended its asset management services to include individually managed accounts and mutual funds. See how Jennison s experienced investment team and research-driven approach can help you take advantage of some of today s best large-cap growth opportunities.

Jennison Associates 466 Lexington Avenue New York, NY 10017 (866) 216-4700 www.jennison.com Professional money management might not be suitable for all investors.

6 Jennison Associates 466 Lexington Avenue New York, NY (866) Professional money management might not be suitable for all investors. Since no one program is suitable for all types of investors, this material is provided for informational purposes only. We need to review your investment objectives, risk tolerance, and liquidity needs before we can recommend suitable programs for you. Jennison Managed Accounts is a division of Jennison Associates, LLC, which is an investment adviser registered under the Investment Advisers Act of M2247 JEN 102 Ed. 11/01/2002

J ENNISON SMALL/MID CAP CORE

J ENNISON SMALL/MID CAP CORE MANAGED BY JENNISON ASSOCIATES MULTIPLE STRATEGIES, ONE MANAGED ACCOUNT The JENNISON SMALL/MID CAP CORE PORTFOLIO invests in both small and mid cap securities and also encompasses