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Pimco Pares Risk

The company that runs the world's biggest fixed-income fund worries about a performance disconnect between financial markets and the global economy.

By Rich Miller and Simon Kennedy, Bloomberg | Updated on May 15, 2013

Pacific Investment Management Co., home to the world’s biggest fixed-income fund, is shying away from risky assets as it sees a growing disconnect between the performances of financial markets and the global economy.

“Especially with ever-elevated prices, and absent a favorable growth shift, we will continue to bring down risk postures of portfolios,” said Mohamed El-Erian, chief executive officer of Newport Beach, California-based Pimco, outlining the company’s investment strategy over the next three to five years.

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