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This profile was last updated on 5/26/13  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Spiros Sig Segalas

Wrong Spiros Sig Segalas?

President and Chief Investment Of...

Jennison Associates LLC
466 Lexington Avenue 18Th Floor
New York, New York 10017
United States

Company Description: Jennison Associates has earned a reputation for excellence by fulfilling client investment needs since its founding in 1969. Today, we manage more than $85 billion...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • Princeton University
75 Total References
Web References
About Us
www.charnleyrostvold.com, 26 May 2013 [cached]
John co-founded Jennison Associates, one of Wall Street's first independent institutional investment management firms, in 1969 with Spiros "Sig" Segalas, Jennison's current president and chief investment officer, and five other Wall Street investment professionals.
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"John was the definition of magnanimous," Mr. Segalas said.
Prudential Newsroom: Prudential Investments Launches Prudential Jennison Market Neutral Fund
news.prudential.com, 27 April 2010 [cached]
Spiros "Sig" Segalas, a founding member of Jennison in 1969 who is currently director, president and chief investment officer of the firm, leading management of the fund's growth strategy.
Manager Bios
web.jennisondryden.com, 20 Jan 2010 [cached]
Spiros Segalas
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Spiros Segalas
Spiros "Sig" Segalas is president and chief investment officer and was one of the founders of Jennison Associates in 1969. In addition to managing institutional portfolios, Sig has managed the Harbor Capital Appreciation Fund since May 1990. He is also co-manager of the Jennison Blend Fund, Inc., the Jennison Growth Fund, the Jennison 20/20 Focus Fund and the Jennison Select Growth Fund.  Sig was recognized as "Manager of the Decade" in 2000 by Mutual Fund magazine.
Sig began his investment career as a research analyst with Bankers Trust Company and was responsible for technology, aerospace, and conglomerate securities. He was appointed head of the Technology Group, and later was asked to manage a newly introduced commingled emerging growth fund, The Supplemental Equity Fund, for the bank's institutional clients. He was appointed to the bank's Investment Policy Group. Sig received a B.A. from Princeton University, after which he was an officer in the U.S. Navy. He also spent some time in the shipping and construction industries before joining Bankers Trust.
The Best from The “Best” | Don McDonald - Financial Educator - Radio Host - Investment Advisor - and more
donmcdonald.com, 28 April 2012 [cached]
Harbor Capital Appreciation manager, Spiros Segalas was excited by the long-term prospects for what he called "one of the fastest growing big companies around. MCI WorldCom.
MutualInvestor.com
www.premierbriefing.com, 4 Oct 2001 [cached]
Spiros 'Sig' Segalas: Harbor Capital Appreciation FundSpiros Segalas is the founding director, president and chief investment officer of Jennison Associates LLC, the Lexington Avenue in New York City-based registered investment adviser of growth-equity accounts, primarily for large institutions.
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Spiros 'Sig' Segalas: Harbor Capital Appreciation Fund
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Spiros Segalas is the founding director, president and chief investment officer of Jennison Associates LLC, the Lexington Avenue in New York City-based registered investment adviser of growth-equity accounts, primarily for large institutions.It also has served as the investment subadviser to Harbor Capital Appreciation Fund (HACAX) since May 90.
Segalas graduated from Princeton University in 1955, and began his investment career as a research analyst with Bankers Trust Company in 1960.He would subsequently become a vice president and manager at Bankers Trust.Segalas served two years as an officer in the Navy, plus he has held several positions in the shipping industry.Segalas is a member of the New York Society of Security Analysts.
By the mid-1980s, Segalas and Jennison had developed a good reputation in the pension investments world, resulting in the 1985 acquisition by financial giant, Prudential Insurance Company, who acquired the firm to help expand their role as an institutional money manager.In May 1990, Jennison was appointed the investment subadviser to the Harbor Capital Appreciation Fund, marking Segalas' first mutual fund assignment.
The other notable mutual fund assignment came in December 1996, when Segalas was appointed one of the investment subadvisers to the Masters' Select Equity Fund (MSEFX).This fund divides its assets amongst six star managers, each with excellent long-term track records.Segalas manages one-fifth of the Masters' Select Equity Fund portfolio, which Like Harbor Capital Appreciation is 4-star rated overall (above average) for performance as adjusted for risk by Morningstar in relation to all domestic stock funds.
In addition to managing the Harbor Capital Appreciation Fund and a portion of the Master's Select Equity Fund, Segalas is also the subadviser to a myriad of broker-sold funds under the Sun America and Prudential names.
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Segalas seeks to achieve Harbor Capital Appreciation Fund's long- term capital appreciation objective through investments primarily in common stocks of established companies - defined as those with market capitalizations of at least $1 billion.Normally, he will invest at least 65% of assets in such securities, and through the years has consistently landed in the Morningstar large-cap growth equity style box.The latest snapshot of the portfolio indicates that Segalas has 63% of assets invested in giant-cap stocks, 30% in large-cap stocks, and only 7% in mid-cap stocks, for a median market capitalization of nearly $59 billion (slightly above than the S&P 500 index).
In selecting securities, Segalas looks for companies exhibiting superior sales growth, high returns on equity, strong balance sheets, strong management capability, a commitment to R&D, and unique marketing competence.Segalas won't just buy any growth company, however.For a stock to make it into the portfolio it must be currently demonstrating superior absolute and relative earnings growth and be attractively valued in relation to its growth prospects.Segalas gives earnings progression the most weight in the selection process, favoring companies in the early stages of their growth cycle.
Jennison Associates maintains that its investment philosophy is clearly focused and closely adhered to.Morningstar data shows that Segalas has consistently maintained a slightly higher than average price-to-earnings (P/E) ratio as well as average 3-year earnings growth ratio.In other words, the stocks that Segalas invests in tend to have faster earnings growth than the average stock in the S&P 500 index, but he's willing to pay up a little in stock price to own the securities.That adds volatility but compared to his large-cap growth peers, Segalas takes 'average' relative risk.
Segalas will sell stocks when their growth expectations are not achieved or exceeded and will reduce a position in a stock when its reaches its price target or gets ahead of itself.Also, he may lighten a position if something is not going right and then buy back shares if things straighten out.If stock fundamentals deteriorate Segalas may sell a position, or he may ditch a stock if he finds something better in terms of appreciation potential.
Segalas likes to add to positions on price weakness if the price weakness is attributable to non-operating problems.The size of individual stock positions depends on Segalas' confidence in the company and its management, and he won't buy a stock unless he's visited the company.Nearly all the stock research that Segalas relies upon is done internally.Emphasis is on trading quality, effective internal communications and bottom-up stock selection.
Investment Performance
Morningstar assigns Harbor Capital Appreciation Fund an above- average 4-star performance rating in relation to its category peers and all stock funds in the domestic stock fund universe.Relative to his large-growth peers, Segalas takes average risk but compared to all domestic stock funds, he takes higher-than- average risk.Against both benchmarks, Segalas has delivered above-average returns.
On a YTD basis as of 9-30-01, HACAX is down 29.7%, faring a little better in the downturn than the large-cap growth fund average (-33.1%), but trailing the S&P 500 index by 9.3% as a result of its higher exposure to tech/growth.The chart at left shows that Segalas' long-term record is still solid, with a 14.3% average return over the past 10 years through 9-30-01.That's 1.7% a year better than the S&P 500 and 4.8% more per year than the average large-growth stock fund tracked by Morningstar.
If historical performance is an indication, Segalas should be able to capture a fair share of return in the next upturn.In the up years of 94, 95, 97, 98 and 99 Segalas ranked in the top one-third of the large-cap growth category for performance.He won't necessarily be at the top, but he'll be up there.As his 2000 YTD performance shows he won't necessarily be at the bottom in market downturns either, but he might be in the neighborhood.So it's probably best to think of Segalas as taking higher-than- average risk versus the average U.S. stock fund but historically coming through in terms of rewarding shareholders for added risk incurred.
Adding to this $8 billion fund's appeal is its low 0.64% expense ratio compared to 1.42% for the average domestic stock fund, per Morningstar.In addition to its expense advantage, the fund has ranked in the top 5% of all large-growth funds based on post-tax return.The fund's tax-efficiency ratio is over 85% for the 10- year period through 9-30-01, but note that tax efficiency hasn't been that great in recent years (3).Accordingly, Segalas' fund may generate some capital gains for you - something to watch out for or at least recognize (so you can manage your tax situation).
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Risk-tolerant, long-term investors seeking capital growth with no need for income have a solid choice in Mr. Segalas and the Harbor Capital Appreciation Fund.Go to www.harborfunds.com for further information.
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