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Pimco launches global multi-asset fund

PImco has launched a select global multi-asset fund today as a part of its select fund range.

The fund will be managed by CEO and co-CIO Mohamed A. El-Erian. The team also includes including portfolio manager Curtis Mewbourne, who has responsibility for relative value strategies, and managing director and head of quantitative investment portfolios Vineer Bhansali, who has oversight of tail risk management. These  “tail risk” hedging strategies will be used to explicitly protect against the adverse impact of market shocks and systemic risk.

The portfolio will invest in equities, bonds, commodities, real estate and inflation-linked bonds.

Bhansali says:  “A greater risk of market shocks and policy mistakes is arising from the evolving macro economy and growing role of the government as a market participant. Meanwhile, the increasing divergence in monetary policies and inflation regimes across regions is coming to bear on investment returns. Against this backdrop, traditional asset allocation approaches to deliver long-term after inflation returns with effective risk management are being challenged.”


Treasury and FSA set to clash over Northern Rock bid

The Treasury and the FSA are ready to clash over a proposal to allow bidders for Northern Rock’s “good” bank to take about £500m out of the lender. According to the Times, the Treasury is exploring the route in a bid to ensure that bidders actually reach the £1bn asking price for the lender, however […]

Nationwide’s Rhodes demands code of practice to ensure all products are simple

Nationwide product and marketing director Chris Rhodes has called for a code of practice to be developed to try and make all products easily understandable to consumers. Speaking at a fringe event at the Liberal Democrat conference in Birmingham, Rhodes said the increasing complexity of products, with conditions that change after set periods of time, […]

Out of context

“I’ll give you a call next time I’m hot and sweaty and need to be powdered down.”Silver-tongued charmer John Baxter thanks an organiser of the MMTV business transition debate for keeping him cool in the sweltering studio. “You can’t bake a cake by dumping a load of flour on the kitchen worktop.” Just Retirement’s Steve […]


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