Two former Pimco
PMs just got a complimentary profile
and Mark Hudoff
ran Pimco's high-yield strategy until retiring a few years ago. They returned to the game to join Hotchkis and Wiley
in 2008, and launched the Hotchkis and Wiley High Yield
fund shortly thereafter.
This year, the two PMs have outpaced their old boss Bill Gross's Total Return
fund: the Hotchkis and Wiley high-yield strategy is up 14.8 percent this year, compared to 9.3 percent for Gross's fund. The H+W fund has grown to hold $689 million in AUM.
story also explores the two men's management style and investing strategy, contrasting it with the "famously top-down" Pimco style. The story describes the Hotchkis and Wiley culture as "dramatically different" from the "pressure-cooker Pimco, but with equally impressive performance."
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