This report is produced by the Strategic Investment Research Group (SIRG), a unit of PGIM Investments LLC, and a research unit of Prudential Financial. SIRG provides research, analysis, and due diligence on investment management firms and the vehicles and strategies they offer. 

The SIRG Investment Manager Survey collects the insights and opinions of senior investment professionals from across the asset management industry. 

This report provides an in-depth analysis of their collective views on the economy, financial markets, and other relevant issues affecting the investment community. 

A total of 44 investment managers responded and are included in this analysis. Data was collected between December 2nd and December 18, 2024. 

GDP - The monetary value of all the finished goods and services produced within a country’s borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well. GDP includes all of private and public consumption, government outlays, investments, and exports, minus imports that occur within a defined territory. 

Core PCE Inflation - A measure of price changes in consumer goods and services similar to the consumer price index (CPI). Personal consumption expenditures consist of the actual and imputed expenditures of households; the measure includes data pertaining to durables, non-durables, and services but does not include volatile food and energy prices. 

The information contained herein has been obtained from sources that Prudential Financial believes to be reliable. Prudential Financial does not guarantee the accuracy or completeness of data received from outside sources, including investment managers. 

Investing involves risks. Some investments have more risk than others. The investment return and principal value will fluctuate, and the investment, when sold, may be worth more or less than the original cost, and it is possible to lose money. Past performance is not a guarantee of future results. Since no one manager/investment program is suitable for all types of investors, this material is provided for informational purposes only. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise.  

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