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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Wednesday, November 27, 2013 Has Pimco Become Too Ambitious? It's been a rough year for Pimco [profile]. John Rekenthaler wonders if the problem lies with the Newport Beach, California-based bond fund giant's ambition (though not its AUM) growing too much. Pointing to a Kiplinger's article, the Morningstar guru highlights the performance woes of the Pimco Global Multi-Asset Fund PMed by Pimco CEO Mohamed El-Erian and of much of Pimco's lineup: 22 of its 87 funds are in the bottom 10 percent when it comes to year-to-date performance, while only six are in the top 10 percent. "As PIMCO has morphed from being a bond-market specialist to a generalist that prides itself on asset allocation, its mission has become harder," Rekenthaler writes. "No, for the most part, I do not think that Pimco has become too big. Perhaps it has become overly ambitious." Printed from: MFWire.com/story.asp?s=46876 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |