Research is the foundation of PGIM Fixed Income’s investment process, with dedicated research teams that cover the macroeconomic and global fixed income universe:
Global Macroeconomic Research and Investment Strategy: Groups of investment professionals conducting in-house economic and strategic research to develop views on economic, policy, and market trends to support the fixed income investment process. These investment professionals interact daily with portfolio management and PGIM Fixed Income's Quantitative Analysis and Risk Management and Fundamental Credit Research teams to integrate top-down macroeconomic analysis with bottom-up fundamental views. Macroeconomic analysis plays an important role in determining each strategy’s current sector allocation, credit quality, and industry biases, and duration and yield curve strategies.
Quantitative Analysis and Risk Management Group: Creates and maintains models and analytics used by the portfolio managers to select government bonds and mortgage-backed securities, and to evaluate historical and current relative value across sectors, industries, and derivatives. The Group also maintains our “stress-testing” models, which are an important component of our risk management approach.
Fundamental Credit Research Group: Analysts cover investment grade, high yield, and municipal issuers across U.S., European, and Global mandates. Coverage within each issuer group is organized by sector and industry, and analysts are aligned with the sector portfolio managers who also cover specific industries.
Securitized Product Research Group: Provides credit views based on extensive collateral, structural, and servicer analysis. The Group also uses proprietary models to identify relative value. Analysts are aligned with the portfolio managers who cover a specific type of securitized product security.
