Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Douglas Hodge: Bill Gross ‘Does Not Define’ Pimco

Bill Gross

After the shocking and sudden departure of Bill Gross from Pimco, the hedge fund he founded 30 years ago, a few days before he was going to be fired, the new CEO Douglas Hodge told Reuters that he plans to “absolutely grow” its exposure to equities, but there will be “no difference” in the way the fund is managed post-Gross.

The new Pimco Chief Investment Officer, Dan Ivascyn, told CNBC, “At least for the coming weeks, and even for the next couple of months, expect us to be very comfortable and only make incremental changes in client accounts.” Ivascyn said the firm would keep its “New Neutral” thesis, anticipating bonds to stay low. The 10 year Treasury offers reasonable value, he said, and will likely reach 3% over the next few years. He also expects the U.S. dollar to remain strong against most international currencies.

While Gross was the animus behind Pimco for decades, Hodge said it was moving beyond a founder-led model and that Gross’ flagship Total Return Fund “does not define Pimco.”

When Gross founded the fund in 1987, there were $222 billion assets under management. At the time of his departure, the figure reached $2 trillion.

Click to comment

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Advertisement