...Let's Talk Alternatives within Portfolio Construction with Alfred Lerman & Mao Dong

...Let's Talk Alternatives within Portfolio Construction with Alfred Lerman & Mao Dong

Author: PGIM March 18, 2025 Duration: 23:15

Alfred Lerman is the Chief Investment Officer at PGIM Multi-Asset Solutions and Mao Dong is the Co-Head of Portfolio Management at PGIM Multi-Asset Solutions. Alfred is passionate about optimizing portfolios through a thoughtful balance of risk and return objectives. Mao's strength is in customizing portfolios based on unique client objectives.

Keshav, Alfred, and Mao discuss the strategic integration of alternative investments in portfolio construction. Their analysis highlights the unique potential for portfolio customisation through the synergistic blend of private and public asset classes, coupled with robust risk mitigation strategies via meticulous underwriting and stringent covenants.

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Key Takeaways:

● Alternatives Role in Constructing Multi-Asset Portfolios. [4:14]

● Portfolio Construction Customisation with Alternatives. [9:06]

● Dynamic Private and Alternative Asset Opportunities. [11:48]

● Managing Insurance Private Capital and Associated Risks. [14:26]

● Critical Elements of a Strong Portfolio. [17:17]

*The views expressed herein are those of the speaker at the time the comments were made and may not be reflective of their current opinions and are subject to change without notice, and should not be considered investment advice.

Find Out More About Alternative Investing:

PGIM Private Alternatives

realestate.investorservices.emea@pgim.com

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Shareables:

"There are two primary reasons why investors go in for alternatives. One, return and second diversification." — Alfred Lerman, Chief Investment Officer at PGIM Multi-Asset Solutions #PGIPodcasts #institutionalinvesting

"You can't just turn on and off an allocation. You need to achieve a vintage diversification." — Alfred Lerman, Chief Investment Officer at PGIM Multi-Asset Solutions #PGIMPodcasts #alternativeinvesting

"A rigorous underwriting process and risk management process is critical in determining suitable strategies for clients." — Mao Dong, Co-Head of Portfolio Management at PGIM Multi-Asset Solutions #PGIMPodcasts #institutionalnvesting

"Alternatives have become an increasingly prominent asset class in multi-asset class portfolio settings." — Mao Dong, Co-Head of Portfolio Management at PGIM Multi-Asset Solutions #investing #alternativeinvesting

"Private assets can play a complementary role to public markets across asset allocation." — Mao Dong, Co-Head of Portfolio Management at PGIM Multi-Asset Solutions #investing #alts

"Having strong convents in place and protection for the end investors are critical elements of a strong portfolio." — Mao Dong, Co-Head of Portfolio Management at PGIM Multi-Asset Solutions #investing #valueadd

"For institutional investors that are looking to position in this recovery sentiment we think real estate debt can provide spread premium as well as portfolio diversification benefits." — Mao Dong, Co-Head of Portfolio Management at PGIM Multi-Asset Solutions #institutionalnvesting #valueadd


PGIM's Speaking of Alternatives offers a clear-eyed conversation about a part of the financial world that often feels shrouded in complexity. This isn't about dry lectures or sales pitches; instead, each episode sits down with seasoned practitioners and thinkers who operate in the trenches of private equity, real assets, hedge funds, and other non-traditional avenues. The dialogue focuses on the practical realities and long-term shifts within these markets, moving far beyond the fleeting news cycle. You'll hear how allocators are actually navigating current economic crosswinds, which structural trends are creating genuine opportunity, and how the very definition of "alternative" continues to evolve. The perspective is intentionally global, acknowledging that compelling strategies and risks can emerge anywhere. By demystifying the jargon and focusing on tangible insights, this podcast serves as a valuable resource for anyone looking to understand the forces shaping portfolio construction today. It’s a monthly dose of nuanced analysis for investors, advisors, and the intellectually curious who recognize that the conventional playbook is rarely sufficient. Tune in for straightforward discussions that respect the sophistication of the topic without losing the listener in unnecessary abstraction.
Author: Language: English Episodes: 26

Speaking of Alternatives
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