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does anyone know why pimco replaced cliff remily & eve tournier as managers of PQIDX - i own this fund and have been concerned about its lagging performance! is this fund a buy? sell? hold?
I don't know, this is the first I've heard of it. Daniel J. Ivascyn (new to PQIDX) has a strong track record in other fund/s. This fund is a little ahead of its category YTD, but the "stock-specific" version (PQDDX) has not done very well. I'm not looking to get rid of it imminently, but the Pimco funds in general have not really been that noteworthy (aside from Long/Short, which has had a terrific year), despite attracting fairly big name talent.
As for Long/Short, M* says, "Best to wait and see." Uh, up nearly 30% YTD - despite being more than half in cash?
Re Cash, be aware that M* dumps all hedging instruments used by funds in its cash category. This has always been a frustration, but that is the way they do it. With PIMCO, this is a regular occurrence, since many of their funds have historically used derivatives to enhance returns. As for Mr. Remily, we will probably hear that he "left to pursue other options". I always chuckle about the differences between fund managers comings and their goings. Managers arrivals are often heralded by companies, as if the people are the greatest thing since rolled toilet paper. The goings are usually not even mentioned if the companies can get away with it.
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As for Long/Short, M* says, "Best to wait and see." Uh, up nearly 30% YTD - despite being more than half in cash?
https://investments.pimco.com/MarketingPrograms/External Documents/Dividend_and_Income_Builder_Fund _Overview_PO4086.pdf