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I'm concerned about how much time Mr. Ivascyn will be able to spend on the Pimco Income fund, not to mention his involvement in several closed-end funds. Is he being spread too thin?
I'm concerned about how much time Mr. Ivascyn will be able to spend on the Pimco Income fund, not to mention his involvement in several closed-end funds. Is he being spread too thin?
Mike_E
I think this is a legitimate concern, as Ivascyn has managed to stay in the background, more or less, given his position. Now, things will most certainly change. I have a rather large stake in PIMIX, so I'll be watching closely as well.
Ivascyn was very low profile compared to Gross, Gundlach, etc, even though he has been a very successful PM over the years. I've seen several of his interviews and he does not light up the room when he speaks, that's for sure. I liked it that way.
Ivascyn is a very talented FI manager, and I seriously doubt that he will be as visible in the media like El-Erian and BG -- which is a good thing. I always got the impression from El-Erian and BG that they loved to hear themselves speak, and they considered themselves to be the center of focus rather than the topic being discussed. Sort of like people who pass by a mirror and take a second glance at themselves. I like Ivascyn's competence and style, and today I added to my PDI position when the price was down over 2%.
Comments
http://www.bloomberg.com/news/2014-09-26/pimco-picks-ivascyn-as-investment-chief-as-gross-departs.html
But what does this mean for Pimco Income (PONAX/PONDX) management? Will Alfred Murata take over sole management? We'll just have to wait and see.....
Mike_E
Not sure that is possible.
I've only heard (learned from the board) good things about Mr. Ivascyn.
Fingers-crossed.
Kevin