Prudential shuns low-margin passive investing strategy
It is adjusting to the growing popularity of index investing, says key is to look beyond stocks
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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."
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