Pimco expects greater resilience in high yield

HIGH YIELD RESILIENCE

Andrew Jessop talks about Pimco's plan to broaden its high yield offering

Andrew Jessop, portfolio manager at Pimco, runs $23.6bn in high yield portfolios across one US and two European publicly available funds. He talks about the asset manager’s plan to broaden its offering, and where he sees the current risks and opportunities in the market. Pimco has recently begun running more specialised high yield mandates. What does that mean in practice? The high yield portfolios at Pimco will be invested primarily in high yield securities, whereas in the past we may have had significant out-of-index exposure to investment grade corporates or to other non-high yield...