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Tuesday, August 20, 2013

Pimco Brings Its Alt Game

News summary by MFWire's editors

Pimco [profile] is branching out and launching its first managed-futures mutual fund, Pimco Trends Managed Futures Fund, InvestmentNews' Jason Kephart reports. It's an interesting time to launch a managed-futures fund. As Kephart writes, the managed-futures category hasn't performed well in the long term.

Pimco's alternative strategies have grown over the years, from $28 billion in assets in alternative mutual funds in 2008 to $100 billion today, Kephart writes. Not all managed-futures funds have fared poorly, with Aberdeen Asset Management [profile] Credit Suisse Managed Futures Strategy Fund up 7 percent year-to-date and Natixis Global Asset Management [profile] Natixis ASG Managed Futures Strategy Fund up 5 percent, Kephart reports. 361 Funds [profile] 361 Managed Futures Strategy is up 4 percent year to date.

However, Phil Guziec, an alternative mutual fund analyst at Morningstar, was quoted as saying, "People tend to chase performance and performance of managed futures has been poor…People tend to buy the insurance policy she the house is on fire. Things are calm right now."

To read more, click here.  

Edited by: Casey Quinlan

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