Pimco's Gross says risk assets could outperform cash - letter
NEW YORK, March 4
NEW YORK, March 4 (Reuters) - Bill Gross, manager of the world's largest bond fund at Pimco, said Tuesday that risk assets should outperform cash this year, but that corporate bond liquidity will be "challenged."
"If global central bankers can convince investors that their abnormal policies can recreate a semblance of the old normal economy, then risk assets at the outer edges of our circle will have higher future returns than otherwise," Gross said in his monthly letter to investors.
Gross's flagship Pimco Total Return Fund, which had $237 billion in assets at the end of January, posted $1.6 billion in outflows in February, according to data from Morningstar.
Pacific Investment Management Co., a unit of European financial services company Allianz SE, had $1.92 trillion in assets as of Dec. 31, according to the firm's website.