The Scale Effect: How Size Shapes Investment Governance and Allocation
PGIM IAS examines how greater scale both enables and pushes investors to allocate differently, with implications for governance as well as investment outcomes.
Positive Stock-Bond Correlation: Prospects & Portfolio Construction Implications
As part of PGIM IAS’s ongoing research on strategic portfolio construction, we have explored the macro drivers, global linkages, and portfolio construction implications of stock-bond correlation in a series of papers dating back to 2021. With US stock-bond correlation having now turned positive, in this paper we discuss which elements of the current economic landscape could provide support for an extended period of positive stock-bond correlation, we review the portfolio construction implications of positive correlation, and we assess what current stock and bond valuations may mean for forward performance.
Institutional Advisory & Solutions
The IAS team conducts bespoke, quantitative client research that focuses on asset allocation and portfolio analysis.
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