BEVERLY HILLS (Reuters) – Big money managers gathered at the Milken Institute Global Conference, in Beverly Hills, California, on Monday to discuss the environment for investments amid higher interest rates, sticky inflation, banking turmoil and geopolitical tension.
See below some of their comments:
EDWIN CONWAY, GLOBAL HEAD OF BLACKROCK ALTERNATIVES:
“This is a difficult environment to navigate. There’s so many more asset classes today than ever before. You just need to be very careful. There are still meaningful returns to be made, but risks are higher.”
KAREN KARNIOL-TAMBOUR, CO-CHIEF INVESTMENT OFFICER AT BRIDGEWATER ASSOCIATES
“The problem is that when you get paradigm shifts that really change the nature of the market environment, it takes a long time for that to get fully digested by investors.”
DAVID HUNT, PRESIDENT AND CEO OF PGIM
“I think that the market fundamentally underestimates the strength of the U.S. economy and therefore is underestimating both how high rates will need to go and how long they will need to stay there.”
(This story has been corrected to change Karen Karniol-Tambour’s position at Bridgewater Associates to co-chief investment officer from co-CEO in second sub-header)
(Reporting by Carolina Mandl and Svea Herbst-Bayliss, in Beverly Hills; Editing by Josie Kao)
