Chillin' out till it needs to be funded
PIMCO’s flagship $244 bln Total REturn fund got new competition internally as strategist Neel Kashkari’s focus on bottom up analysis found him great values in Europe for $5 bln in equities funds now managed by PIMCO across Great Value , emerging markets and dividend tocks. Today the fund launched two new EqS Dividend fund and PIMCO Dividend and Income Builder Fund.
PIMCO’s $1.35 Tln in assets suffered from TRF’s 4% return for 2011 which brought it to 31 percentile among similar funds, while the Equities Pathfinder fund lost barely enough to keep a 81 percentile seeding
Neel stressed on Bloomberg TV that the bottom up analysis currently has to rely on views and rumors int he market from Europe, hacing to lend credence to both inflationary and deflationary scenarios. European equities could be great plays and the first focus is to identify good dividend plays