By: Economic & Finance Report
The investment management firm that is known in the finance world as Pimco, has decided to shut down its equities units. The firm indicated they will focus on key financials, such as their bonds and investment management divisions.
They will be liquidating their equity market units, and their Chief Investment Officer Virginie Maisonneuve has also decided to step down from the CIO position. Maisonneuve oversaw one of their equity units which focused on Emerging Markets around the globe.
Pimco manages 1.59 trillion dollars in complex assets, while they are also trying to diversify and be more broad in investment strategy and stock diversification.-SB