PIMCO to Launch New Global Fund
Plus, Whitman steps back, a new TCW emerging-markets fund launches, and more.
PIMCO registered with the SEC to launch PIMCO Global Opportunities Fund. The filing indicates that the fund will be a flexible hybrid. It will invest in securities that are economically tied to at least three countries, including possibly the U.S. and emerging markets. The fund will have the freedom to invest across the market-cap spectrum. Holdings can include common stock, preferred stock, U.S. and non-U.S. sovereign government debt, bank loans, high-yield bonds, and defaulted securities. Its benchmark will be the MSCI World Index. PIMCO has not yet named portfolio managers for the fund.
Third Avenue's Whitman Stepping Back
Third Avenue Management has appointed Curtis Jensen as the firm's sole chief investment officer. He had shared the role with Marty Whitman, Third Avenue's founder, since 2003. Jensen is also the portfolio manager of Third Avenue Small-Cap Value (TASCX). The fund's 10-year return of 8.3% tops 71% of its small-blend peers. Jensen joined the firm, which has $16 billion in assets under management, in 1995.
Courtney Goethals Dobrow does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.