McCulley's Return Offers Comfort to PIMCO Investors
Having Paul McCulley back as a mentor to the new generation of PIMCO leaders is an advantage, but it doesn't erase worries about succession, says Morningstar's Eric Jacobson.
Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. PIMCO announced this morning that Paul McCulley will be rejoining the firm as chief economist and will also be occasionally chairing the investment committee. I'm joined today by Eric Jacobson, our co-head of active fixed-income strategy manager research, for his take on what this could mean for PIMCO and also for investors in PIMCO funds.
Eric, thanks for joining me, today.