Bond Firm Pimco Mulls Foray Into Stocks
NEWPORT BEACH, Calif. (TheStreet) -- Pacific Investment Management, the world's biggest manager of bonds, is considering opening a stock fund unit for the first time in its 38-year history, reports say.
Pimco is a unit of Munich-based insurer Allianz (AZ).
Pimco may hire an existing management team with a track record, Bloomberg reports, citing a person familiar with the firm's plans.
Earlier this year, Pimco launched its first exchange-traded funds in a move to offer a wider range of investment products, Bloomberg notes. Adding equities would help Pimco compete with asset management firms such as BlackRock (BLK), which is about to become the world's biggest money manager once its acquisition of Barclays Global Investors closes.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV