Opportunities during market volatility: What informs CEO Ann Prendergast’s strategy?

Despite uncertainties fuelled by changing US trade policies and escalating geopolitical tensions around the globe, economies and markets remained resilient. On the other hand, risk and risk management changed dramatically. What trends, innovations, and challenges are ahead of asset and wealth management? Ann Prendergast, CEO, State Street Global Advisors, gives us her quick takes.

How do you feel about the current macroeconomic outlook?

We noted in our Global Market Outlook 2025 that while we retained confidence in a soft landing outcome and a generally positive environment for risk assets, much was unknown about the policies of the incoming Trump administration. We know a lot more now. And much has changed — in both economies and markets — but not everything. We still do not anticipate a US recession, our European growth forecasts are little changed, and global growth is expected to hover near trend. The balance of risks has changed more dramatically than our forecasts. The path to a soft landing has narrowed — but it remains open.

As a global asset manager with investment capabilities spanning the full risk-return spectrum, covering all major asset classes, geographies and investment styles, State Street Global Advisors is well placed to partner with our clients, irrespective of the financial, regulatory, and geopolitical conditions to design solutions to meet their specific objectives.

What are the biggest challenges facing the asset management industry? How do you envision the next 10 years for the asset management industry?

Shifting demographics and investor preferences, macro uncertainty and market volatility, technology, fee pressure and increasing regulatory complexity are all changing the way that the industry operates.

Looking ahead, the state of constant change that the industry finds itself in will persist and those firms with a dynamic operating model, calibrated to an environment of constant change will thrive. The asset management industry has been successful in navigating historical structural shifts and it will continue to be able to do so over the coming years if it maintains focus on providing a compelling value proposition to the world’s investors.

By truly knowing our clients, understanding their needs and desired outcomes, and partnering with them to deliver relevant products and solutions, from a scaled operating platform, is going to be imperative for the industry’s long-term success.

What investment trends and product innovations are you interested in this year? Where do you see the opportunities?

Investors navigating macroeconomic uncertainty and market volatility are constantly seeking new return drivers and different approaches to diversifying risk. As pioneers in index and ETF investing and the world’s fourth-largest asset manager, State Street Global Advisors is always seeking to develop new ways to invest.

We continue to see innovation and growth opportunities across mutual fund and ETF investing spanning public, private and alternative strategies as a consequence of increasing demand for liquid, low-cost and innovative index exposures, active ETFs, together with semi-liquid funds giving access to private markets for retail investors such as ELTIFs.

What are you looking forward to the most at IMpower FundForum?

I am looking forward to participating in the panel discussion ‘Growth and expansion strategies in complex times; what are the winners doing differently?’ which is scheduled at 12:00pm CET on Tuesday 24th June at the Distribution Stage. Our firm’s mission is to help create better outcomes for investors and the people they serve, and this is the core around which the entire organisation operates. IMpower FundForum is a great opportunity to engage with industry peers on issues and trends impacting our clients and the asset management industry more broadly.

Join State Street’s team at IMpower FundForum this June.