A New Quarter, Similar Positive Outlook
In its 2Q 2024 outlook, PGIM Fixed Income shares their views on the current economic environment and outlook for fixed income markets.
Source returns without overreaching on risk.
Bond yields remain attractive by historical standards, offering access to steady income amid lingering uncertainty related to monetary policy. Dispersion among fixed income securities feeds additional return potential by creating favorable conditions for identifying which bonds offer the most upside promise. Meanwhile, fixed income’s ability to dampen volatility through diversification looks increasingly appealing as the macro backdrop keeps equity markets on edge.
We offer strategies that employ risk management, portfolio management and credit research equally in an effort to generate returns that align with our strong long-term track record while limiting volatility. Our solutions are designed to help satisfy a wide range of investor aspirations.
Entities that conduct themselves in a manner consistent with strong ESG standards demonstrate a commitment that bodes well for their business operations, whereas those with lower-end sustainability indicators invite risks that inject uncertainty into their credit outlooks. Given that each company’s ESG-relevant actions correspond with potential investment implications, ESG factors are integrated into fundamental analysis and the decision-making process through a proprietary ESG impact ratings framework.
With a history going back more than 140 years, PGIM Fixed Income is home to one of the industry’s largest and most experienced research teams. On average, the 361 members of the fixed income team—encompassing credit research, portfolio management and risk management—bring well over two decades of experience to their decision-making.
In its 2Q 2024 outlook, PGIM Fixed Income shares their views on the current economic environment and outlook for fixed income markets.
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PGIM Fixed Income explores navigating fixed income opportunities and risks in 2024.
Sources of data (unless otherwise noted) are as of 31 December 2023.
1Assets under management (AuM) are net unless otherwise noted. AuM total includes $17 billion in assets managed by PGIM Fixed Income for affiliated businesses, $77 billion in PGIM Japan assets, and $136 million of which is sub-advised by PGIM Private Capital.
2Past Performance is not a reliable indicator of future performance. Awards and ratings are subject to change without notice and do not constitute investment advice or an offer to buy any security. Please click on the disclosure link, for further information on the methodology.
3Source: Morningstar. Based on all share classes with at least a 1-year track record in a ranked Morningstar EAA Category (Based on all share classes ranked by Morningstar).
Information for persons in Chile: The securities offered in this document are foreign, so the rights and obligations of investors are subject to the legal framework of the issuer’s country of origin, Ireland, and, therefore, investors must inform themselves of the way and means through which they can exercise their rights. Likewise, given the securities are foreign, the supervision by the Comisión para el Mercado Financiero of Chile (“CMF”) will focus exclusively on the adequate performance of the information duties set forth by Norma de Carácter General 352 (“NCG 352”) of the CMF and, therefore, the supervision of both the securities and their issuer will be mainly exercised by the foreign regulator, the Central Bank of Ireland. The public information that will be provided for the securities will be exclusively that which is required by the Central Bank of Ireland. The accounting principles and auditing standards differ from the principles and rules applicable to issuers in Chile. According to section 196 of Law No. 18.045, foreign issuers, securities intermediaries, foreign securities depositories, and any other person involved in the registration, placement, deposit, trading and any other agreements relating to foreign securities or Securities Depositary Certificates (“CDVs”), which are subject to the rules set forth under Title XXIV of said law and the regulations enacted by the CMF, that violate such regulations, will be held liable pursuant to Law- Decree No. 3,538 of 1980 and Law No. 18.045. Investors will be able to obtain more information on the website of the CMF.
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