Prudential shuns low-margin passive investing strategy
It is adjusting to the growing popularity of index investing, says key is to look beyond stocks
New York
DAVID Hunt, who oversees more than US$1 trillion as head of Prudential Financial Inc's PGIM asset manager, said his firm needs to focus on active investing and must not be seduced by the flood of money into passive strategies.
"We really looked at whether or not we should get into the passive business, and we came back clearly with the answer of no," Mr Hunt said on Tuesday at a presentation by Newark, New Jersey-based Prudential. "It was a low-margin business that we didn't see how we had anything special to offer to."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%