Capital flows, and the opportunities and risks they create, can sometimes explain a great deal about boom-and-bust cycles. The massive capital flows out of emerging markets last year illustrate the quick reversal of fortunes that nations can experience as a result of capital flight. At the same time, sweeping changes in global markets are changing the very nature of these flows. Passive strategies such as index funds have swelled in recent years. The rise of mega-managers, responsible for trillions of dollars in assets, can also increase or reduce liquidity. The experts on this panel will discuss capital flows, asset management, liquidity and the current conditions transforming the international monetary system. They'll seek to answer: What are the consequences of recent dramatic changes to the nature of international capital flows? What are the effects, opportunities and risks from the decline of active strategies, and how has the shift from propriety trading from banks to asset management firms influenced capital allocation?
President and CEO, PGIM, the Global Investment Management Businesses of Prudential Financial, Inc.
CEO, Principal Global Investors; President, Global Asset Management, Principal Financial Group
Chairman, Roubini Global Economics; Professor of Economics, Stern School of Business, New York University