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PGIM President and CEO David Hunt Talks Asset Management's Evolution

July 15, 2024

PGIM President and CEO David Hunt sat down with Citywire for a one-on-one conversation about his views of financial markets and the evolution of the asset management industry. In the interview, Hunt discusses the evolution of the asset management industry, the winning formula that will set firms apart, and the importance of developing contrarian views in investing.

Providing Portfolio Solutions across Private and Public Asset Classes

Much has changed over the course of Hunt's three decades in the asset management industry. He explains that while most asset managers were small firms that specialized in a single asset class, there is a widening gap today between these types of firms and large, global asset managers that can deliver comprehensive portfolio solutions across public and private asset classes.

Developing Non-Consensus Views as Active Managers

When it comes to driving investment performance, Hunt says it is crucial for asset managers to create a culture that supports the development of non-consensus views. Hunt also explains that asset managers need a strong risk-management framework to guide their investment approach.

Managing Geopolitical Risk and Diverging Economic Stories

Hunt explains that the geopolitical landscape is returning to its historical norm, in which investors must assess the impact of world events and other idiosyncratic risks on their portfolio. According to Hunt, a volatile geopolitical environment is driving investors toward private markets as well as liquidity, while divergent economic outcomes are prompting a reallocation of global flows.

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