Allianz's Giant Bond Manager Pimco Is Struggling to Attract New Money

PIMCO, a major bond manager, is facing challenges in attracting new investments due to poor bond market performance and industry dynamics. The company is shifting focus towards alternative assets like real estate and private credit, which require active management and offer higher fees. Despite some recovery in the first quarter, investor sentiment remains cautious, with a preference for passive strategies. PIMCO aims to remain competitive by emphasizing active strategies in alternative assets.

What does the conversation with Oliver Betty reveal about investor sentiment?

Why are alternative assets considered to require active strategies?