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Thursday, September 01, 2011|
Pimco's Stock Funds Underwhelm the WSJ
Fundsters who have been watching Pimco's [see profile] move into the stock-picking business may want to look today's issue of the Wall Street Journal. Mary Pilon profiles the unit and two of its mutual funds.
Former Troubled Asset Relief Program (TARP) chief and ex-Goldman Sachs investment banker Neel Kashkari took over Pimco's equity business two years ago. Its funds include the $1.5-billion Pathfinder fund (a global equity fund) and the $376.1-million Emerging Markets equities fund.
The article highlights both funds' underperformance since inception and notes that they only hold about 0.1 percent of Pimco's assets and 20 of its 2,000 employees.
Pimco CEO Mohamed El-Erian, Rogerscasey managing director Alan Kosan, Pathfinder co-manager Charles Lahr and Kashkari himself all weighed in for the article.
Printed from: MFWire.com/story.asp?s=37708
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