Europe, long a major destination of investor capital, is losing luster, say prom...
BEVERLY HILLS - Europe, long a major destination of investor capital, is losing luster, say prominent bankers and asset managers, who are reducing exposure to the area because of concerns about issues ranging from Brexit to France’s “yellow vest” protests.
“My main concern is Europe,” David Hunt, chief executive of PGIM, the asset management arm of U.S. life insurance company Prudential Financial Inc, said at the conference. Many at the Milken conference, which brings together globally prominent business leaders and major investors, “There really are no more monetary policy and fiscal options open to Europe,” she said. “We are steering away from Europe.”
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