Jennison Associates LLC is a large advisory firm based in New York. It manages $160.91 billion of regulatory assets for 1,669 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.
Jennison Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and non-discretionary model advice. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Jennison Associates LLC is $160.91 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 99% since the beginning of its operation, and $4.67 billion of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Jennison Associates LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of David Hunt is investment companies with 55 clients and $76.97 billion of assets under management. Among the 10 most similar advisory firms, Jennison Associates has the 5th highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $157.38 billion for 1,700 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Jennison Associates also advises several private funds. Namely, two hedge funds and two other private funds. The minimum investment commitment required of non-related persons ranges from $250,000 to $5,000,000.
The company employs 309 people that are either part- or full-time employees. 21 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
David Hunt has been acting as President since 1 Feb 2012. Kenneth Moore joined the executive team most recently as the Executive Vice President, Treasurer & Chief Operating Officer.
The principal office where Jennison Associates LLC performs its advisory services is located at 466 Lexington Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 212.421.1000 or by fax 212.682.9831. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at jennison.com and its LinkedIn profile.