All the Credit, Ep. 31
With the recent announcement of a major student loan forgiveness program in the U.S., we dissect the program and its implications for fixed income investors.
The underlying principles of securitized products are quite simple, and offer investors diversification relative to other fixed income sectors.
* Gross assets under management includes the reinvestment of securities lending proceeds. Assets are based on company estimates, holdings are subject to change (rounded). Values may not sum due to rounding.
** ABS includes auto lease, auto loans, sub-prime auto, credit cards, and ‘other’. ‘Other’ includes consumer related (student loans, RV, timeshare, wireless, unsecured consumer loans), commercial related (equipment, flees, floor plan, small business, SBA), corporate (rental car and railcars), structured settlement and International ABS.
Source: PGIM Fixed Income. Assets as of September 30, 2022. Staffing as of September 30, 2022.