After four big pushes
into stock fund investing, don't expect Pimco
] to make a fifth.
CEO Manny Roman
says that he's unlikely to repeat the asset manager's past attempts to make a big splash in equities, Financial News reports
. Roman shared that tidbit and much more in an interview
with David Solomon
, the next CEO of Goldman Sachs
. Another Pimco bigwig made similar comments
Roman contrasts Pimco with diversified asset management giants who are "trying to do many different things."
"We'll find out if someone can be successful at everything," Roman says. "Being best of breed at one thing ... will always win."
Instead, Roman says, Pimco is going to focus on fixed income, both because it's Pimco's core expertise and it's better protected from the continued rise of passive investments.
The interview offers a host of other tidbits about Roman and his expectations for the future.
Neil Anderson, Managing Editor
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