Pimco Emerges as a Debt Collector
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Monday, April 26, 2010

Pimco Emerges as a Debt Collector

Pimco 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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