Jennison Associates LLC

Jennison Associates, previously known as Jennison Associates Capital Corp, was created as a growth equity manager of institutional assets, beginning its operations in 1969. In its first few years of operations, the company would begin managing its first endowment, public, and foundation funds, adding teams such as a dedicated fixed income team and balanced and opportunistic equity management teams with expansion. In 1985, the company would become a wholly owned subsidiary of The Prudential Insurance Company of America. The rest of the 1980s would see the firm begin managing its first commingled vehicle, enter sub-advisory market through insurance-related vehicles, and begin expanding its client base outside the United States. In 1990, Jennison Associates began managing mutual funds through its sub-advisory services, managing its first Taft-Hartley account just one year later. The company would continue to expand, adding managed account programs and dedicated teams for global equity and assets as well as integrating some of its parent company’s, now called Prudential Financial, managed public equity strategies into its organization. Today Jennison Associates is focused on “managing portfolios based on internal fundamental research, bottom-up security selection and a highly interactive investment process.” The company’s research is both done in house and externally in order to have the most amount of available information. Utilizing this research, the company employs a variety of opportunistic, market neutral, and blend strategies and invests in diverse markets that include mortgages, pass-through, investment grade fixed income securities, and dividend paying stocks, among others. Jennison Associates is still a wholly owned subsidiary of Prudential Investment Management, a holding company. As of the first quarter of 2015, Jennison has $188 billion in assets management, with almost all of the assets belonging to institutional or sub-advisory markets. Some of the company’s notable mutual funds include its Prudential Jennison Equity Income Fund and Prudential Jennison Rising Dividend Fund.