Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will Pimco's Kashkari Be the Next Governator? Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 24, 2013

Will Pimco's Kashkari Be the Next Governator?

News summary by MFWire's editors

Neel Kashkari, the wunderkind behind the U.S. Treasury's Troubled Asset Relief Program, is leaving Pimco [profile] to consider a run for political office in California, according to the Wall Street Journal.

Pimco hired Kashkari in 2009 to help build up its equity business. The firm has launched six stock funds since then.

However, growing this side of Pimco has been slow going, according to data from Morningstar cited by the Journal. The six funds had about $3.6 billion from U.S. investors, according to research firm Morningstar, and $10 billion in all, according to Pimco, including money from institutions and foreigners that Morningstar doesn't tally. That is less than one percent of the $1.9 trillion that Pimco manages, according to the newspaper.

Moreover, the Journal notes that the performance of funds that Kashkari launched has been spotty. All six funds lagged behind benchmarks assigned by Morningstar in 2012, using the institutional class of shares as the metric. Kashkari has said that the funds were designed to limit downside risk and, as a result, tend to trail when the market is rising.

Kashkari has not specified which office he would seek. The Journal notes that the only state-wide job up for election in the near future is the governor's race in 2014.

To read more, go to the Wall Street Journal

Edited by: Tommy Fernandez


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use