The private credit market is booming, but not all managers are built to last. PGIM Private Capital’s Matthew Harvey explains why experienced, conservative managers focused on the middle market are best prepared to navigate the next phase of the credit cycle, as many new players face their first real test in a slowing economy. Read the full article: https://on.pru/3GPjGVQ

The private credit market is booming, but not all managers are built to last. PGIM Private Capital’s Matthew Harvey explains why experienced, conservative managers focused on the middle market are best prepared to navigate the next phase of the credit cycle, as many new players face their first real test in a slowing economy. Read the full article: https://on.pru/3GPjGVQ

📈 CFA Society Houston presents: Fixed Income Market Outlook with Robert Tipp, CFA Join us Wednesday, October 29 from 12:00–1:00 PM (CT) for a timely discussion with Robert Tipp, CFA, Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income. With over three decades of experience navigating global bond markets, Robert will share his insights on: - The likely path of the Fed and U.S. rates - Shifts in overall risk appetite - Bonds vs. stocks (and cash) in today’s environment - The value of duration and the appeal of global bond strategies As high global debt, rising geopolitical tensions, and uneven returns across asset classes continue to shape markets, this is your chance to hear from one of the industry’s leading voices on what’s next for fixed income. 🔗 https://lnkd.in/g9cGYUvx #CFAHouston #FixedIncome #Finance #InvestmentStrategy #Markets #PGIM #CFAInstitute

It was a pleasure to present my work on the latest round of the U.S. Securities and Exchange Commission's Money Market Funds Reforms (coauthored with Russ Wermers) at the Federal Reserve Bank of Boston's Supervision Department. This paper develops a theoretical model with key insights: liquidity fees in open-end mutual funds curb redemptions and distribute dilution costs equitably; balancing liquidity fees with asset liquidations is critical for managing stress; and sponsor support provides higher marginal benefits for smaller funds, with diminishing returns for larger ones. Using the 2023 SEC reforms as a natural experiment, we validate that liquidity fees increase redemption incentives and exit risks. For further information, see: https://lnkd.in/ePYF5KJe. Thank you, Kenechukwu E. Anadu, CFA, CAIA, Victoria Liu, Noam Tanner, and John Levin for hosting. I am also deeply grateful to R Jay Kahn, Yiming Ma, Sam Hempel, George Pennacchi, Albert Saiz, Lawrence Schmidt, and Yao Zeng for their guidance and support. Investment Company Institute, CFA Institute, CFA Society Chile, MIT Center for Real Estate, Pontificia Universidad Javeriana, Egresados Universidad del Rosario #MMFs #MutualFunds #Finance #WorkingPapers

STEP member Sissi Goh, ChFC, CLU, TEP has spoken to WealthBriefingAsia focusing on the importance of values in wealth planning. Sissi commented: 'When you combine wealth plus values, you don’t just create inheritance, you create power: the power to shape futures, to build impact, and to ensure that what you’ve built continues to make a difference long after you’re gone.' 📖Read more in the article: https://bit.ly/4nmCo6l 👉 Explore our Responsible Stewardship Toolkit: https://lnkd.in/e5czNAsr #STEPProfile #RSOW

Portfolio Managers Agnieszka Konwent-Morawski, Brent Olson and Tom Ross look at credit spreads in the high yield bond market and explore tools to potentially enhance returns. Click below to dive into their perspectives in the full article. #IntendedForNAInvestors

Portfolio Managers Agnieszka Konwent-Morawski, Brent Olson and Tom Ross look at credit spreads in the high yield bond market and explore tools to potentially enhance returns. Click below to dive into their perspectives in the full article. #IntendedForNAInvestors

Portfolio Managers Agnieszka Konwent-Morawski, Brent Olson and Tom Ross look at credit spreads in the high yield bond market and explore tools to potentially enhance returns. Click below to dive into their perspectives in the full article. #IntendedForNAInvestors

Portfolio Managers Agnieszka Konwent-Morawski, Brent Olson and Tom Ross look at credit spreads in the high yield bond market and explore tools to potentially enhance returns. Click below to dive into their perspectives in the full article. #IntendedForNAInvestors

Portfolio Managers Agnieszka Konwent-Morawski, Brent Olson and Tom Ross look at credit spreads in the high yield bond market and explore tools to potentially enhance returns. Click below to dive into their perspectives in the full article. #IntendedForNAInvestors