emerging market portfolio manager Ramin Toloui
spoke to The Wall Street Journal
about his company's recent push into emerging-market corporate debt. In Monday's Fund Track
, Toloui said that Pimco is increasing its exposure to developing economies, and has already increased its flagship fund's, the Total Return Fund
, exposure from five percent to six percent.
Additionally, the year-old Global Advantage Bond Index
now has a 30 percent allocation in emerging markets.
"That gives you some sense of what we think, when we talk about new opportunities," Toloui told the WSJ. "We're basically trying to initiate a conversation with investors with what your fixed-income portfolio should look like."
Pimco has been buying debt of state-owned energy companies and financial institutions, as well as privately owned companies in the commodities sector.
"Emerging markets are going to increasingly become part of a core fixed-income allocation for investors where, in the past, emerging markets have been regarded as risky or exotic, an optional part of people's portfolio," added Toloui.
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