WealthManagement.com reports investment company Pimco is distancing itself from its “founder-led model and the $2 trillion asset manager's flagship fund.” Instead, they are expanding into “other asset classes and other geographies.”
This announcement comes after the recent departure of their former CEO, Bill Gross, which created “speculation in the bond market about leadership uncertainties and accelerating outflow at the world's largest bond firm.”
This announcement from Pimco may be a response to the large number of investors that have recently pulled billions from the company’s funds.
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