Pimco dumps credit options as US funds slim holdings
Counterparty Radar: Space shrinks 30% in Q2 following three consecutive quarters of growth
Pimco cut most credit options held on its mutual fund books in the second quarter, leaving PGIM with north of 80% of total market share among US funds in the instrument.
The California-based firm led a general retreat from the trade as managers turned more conservative with their positions during a turbulent spring season for markets. Mutual funds and exchange-traded funds shed $27.7 billion notional, or 30%, of their combined credit options holdings to reach a total of $63.9 billion, according
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