Written by Senior Portfolio Manager, Michael Hakes, CFA, MBA.
We recently added Prudential Plc to the Global Growth portfolio at a 2% weight.
Prudential Plc is a life and health insurance company with direct exposure to the rapidly growing markets of Southeast Asia and China. Having spun off its U.S. Jackson Financial division (Ticker JXN)) in September 2021, the company is now a pure play for the region. It has operated in Southeast Asia for almost 100 years and has over 19 million customers in the region. Read
On Friday, April 14th 2023, Senior Portfolio Manager, Michael Hakes was live in-studio on BNN Bloomberg Market Call.
Michael discussed the current market outlook, top and past picks, and answered viewer phone calls and emails on a range of global growth and dividend-paying stocks. Market Call is Canada’s leading stock market call-in program.
The failure of Silicon Valley Bank (plus Signature Bank of NY) in March 2023 and the subsequent panic brought back shades of 2008 and Bear Sterns’ collapse in March 2008. At that time, it was known that certain assets held on the books of financials were challenged, with many sub-prime and asset-backed securities incurring elevated losses as early as February 2007. It would be another 6 months post-Bear Stearns for the banking collapse to come to fruition, with the fall of 2008 providing the climax of risk. Read
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