PIMCO: 'It may be time to reinvent what qualifies as a bond fund'

BIG INTERVIEW

PIMCO's head of EMEA and head of global wealth management tell Hardeep Tawakley how the group is trying to diversify outside the traditional fixed income space.

PIMCO’s fortunes have been firmly tied up with the bond sector ever since the group’s inception in 1971. Around 90% of its products are focused on fixed income, including the largest mutual fund in the world-the $268bn PIMCO Total Return. However, the group is now working hard to diversify its business and this could not have come at a better time, following two volatile months for bonds, resulting in one of the biggest sell-offs in the sector’s history. This followed the Federal Reserve’s announcement in May it was considering beginning a slowdown of quantitative easing. Global stock...