PIMCo Offers Hedge-Like Credit Fund

Aug 31 2011 | 2:43pm ET

Mutual fund giant Pacific Investment Management Co. has launched a hedge fund-like product investing in the firm's specialty, bonds.

Newport Beach, Calif.-based PIMCo styles its new Credit Absolute Return Fund a "go-anywhere" strategy that will employ some tactics favored by hedge funds but generally shunned by mutual funds. PIMCo said that global head of corporate bond portfolios Mark Kiesel will manage the fund.

"This strategy can pivot in order to help achieve the absolute return objective," he said. "For example, this strategy can take on greater exposure to credit when spreads are attractive and, conversely, reduce overall exposure when necessary and instead focus on relative value between credit sectors."

Credit Absolute Return is not PIMCo's first hedge fund-like mutual fund: It's Unconstrained Bond Fund has more than $17 billion in assets under management.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.