PIMCO targets Asia retail market

The $200 billion fixed-income fund giant teams up with HSBC for the first time.

PIMCO, the Newport Beach, California-based bond fund house, is targeting retail investors in Asia ex-Japan for the first time, says Brian Baker, CEO and director at PIMCO Asia in Singapore. PIMCO already manages $8 billion of Asian institutional client money and wants to expand to retail. Were testing the waters, he says, by teaming up with distributor HSBC to offer a clone of the firms US flagship product, the Total Return fund.

This US product, managed by PIMCO CIO Bill Gross in Newport Beach, has existed for 30 years and now has $40 billion under management from US retail and institutional clients. Its popularity prompted PIMCO to establish an exact replica...

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