The Wall Street Journal recently covered news about Pimco’s founder, Bill Gross, seeking to push the company beyond bonds and sharing his aims to raise the firm’s exposure to stocks. CIA Chief Investment Officer, Matt Reiner, commented on the news.
Gross’s goal: to reduce the giant asset manager’s reliance on bonds and raise its exposure to stocks. Now managing nearly $2 trillion, the firm has previously faltered in its attempts to make the shift in the past.
“As far as we’re concerned, Bill Gross still pulls the purse strings at Pimco. As long as he ‘s at the helm, we still feel confident,” said Matt Reiner.
Read the full article in The Wall Street Journal