Pimco saw a significant increase in assets under management in Asia due to investor demand for yield via fixed income assets.
As of August 2023, Pimco’s assets under management for Asia ex-Japan reached $60 billion, according to a «Bloomberg» report citing executive vice president Marcio Bogoricin, marking a 20 percent year-on-year increase – the fastest pace since 2018. Fixed income was named as the asset class of choice in recent times, across public and private debt.
«A high quality portfolio of fixed income today can get you around 7 percent yield, that’s very attractive,» Bogoricin said. «Asian clients more broadly have been looking for more stable investments given a lot of volatility we’ve seen in markets over the last 18 months.»
Regional Business
Pimco’s wealth management operation in Asia started around 2014 and now has customers in 14 markets in the region alongside offices in Singapore, Hong Kong, Australia, Japan, mainland China and Taiwan.
It focuses on fund distribution through private banks, retail banks and online platforms. Distribution via private banks accounts for around two-thirds of Asia ex-Japan assets. The US asset manager also sees family office demand for hedge funds.
As of 30 June 2023, California-based Pimco has $1.79 trillion in assets under management globally, according to its website.
