The Big Interview: Paul McCulley

Pimco's portfolio manager talks to Dalia Fahmy about chasing yield in an expensive asset class, and what he's expecting will trigger the next market downturn

mcculley-p38-jpg

Pimco blinked too soon. Its flagship $102 billion Total Return Fund (PTTRX), the world's largest bond fund, has been lagging this year and last because Pimco managers have been worried about overvaluations in the corporate bond market.

Still, despite coming in around the 50th percentile compared with its peers over the past couple of years, the Total Return Fund maintains an impressive long-term track record, landing in the 3rd percentile over the past decade. Paul McCulley, a Pimco managing

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here