Masters in Business Embracing Global Opportunities with Jeffrey Becker of Jennison Associates
37 snips
Apr 24, 2025 AI Snips
Chapters
Transcript
Episode notes
Deep Conviction Growth Investing
- Jennison defines growth investing as high-conviction, fundamental research-driven active management with concentrated portfolios.
- The strategy targets innovative disruptors with durable moats that drive structural industry shifts and long-term alpha.
Balancing U.S. and International Equity
- Although Jennison favors U.S. equities, they hold about $40 billion in international equity using bottoms-up stock selection.
- Recent international outperformance is driven by policy shifts, with Asia and Europe showing promise, but U.S. remains favored medium to long term.
Focused Risk Management Approach
- Jennison embraces deliberate, stock-specific concentrated risk while avoiding unintended risks like excess sector or geographic concentration.
- Robust risk management ensures portfolio volatility reflects stock selection, not other unintended factor exposures.