Fund Times: PIMCO's Gross Joins Forces with Greenspan
Plus, news on manager change at Royce, GMO sees asset bubbles, and more.
PIMCO's famed fixed-income manager Bill Gross will be getting a bit of help from former Federal Reserve Chairman Alan Greenspan. PIMCO just announced that it has retained Greenspan as a special consultant. He'll participate in the firm's quarterly cyclical Economic Forums, as well as its annual Secular Forum.
Far from being an academic exercise, these meetings help Gross and the entire investment management staff at PIMCO set interest-rate, sector, credit-quality, and country and currency positioning across their lineup of bond funds, including PIMCO Total Return (PTTDX), the nation's largest bond offering. Greenspan's knowledge of the internal workings of the Federal Reserve, its personalities, and its policies, could be quite valuable. Greenspan's acumen with broader matters in the global economy can also be a boost to the firm.
Lawrence Jones does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.