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Ramin Toloui, Tomoya Masanao, Robert Mead
Each quarter, PIMCO investment professionals from around the globe gather in Newport Beach to discuss the firm’s outlook for the global economy and financial markets. The outlook for Asia is defined and presented by PIMCO’s Asia-Pacific Portfolio Committee (APC), chaired by Ramin Toloui, global co-head of emerging markets based in Singapore. In the following interview, he and APC colleagues Tomoya Masanao, head of portfolio management in Japan, and Rob Mead, head of portfolio management in Australia, discuss PIMCO’s outlook for the region over the next six to 12 months, along with implications for portfolio strategy in Asia and worldwide.
Q: What are the key aspects of PIMCO's cyclical outlook as it relates to Asia?Toloui: One of the main objectives of PIMCO’s quarterly outlook and strategy discussions is to integrate our bottom-up regional analysis from the Asia-Pacific Portfolio Committee (APC) with expectations for the U.S. and Europe, and produce a synthesized global outlook around which the Investment Committee and portfolio managers worldwide can develop portfolio strategies.
All investments contain risk and may lose value. Investing in the bond market is subject to certain risks, including market, interest rate, issuer, credit and inflation risk. Sovereign securities are generally backed by the issuing government. Obligations of U.S. government agencies and authorities are supported by varying degrees, but are generally not backed by the full faith of the U.S. government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio.
This material contains the opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO and YOUR GLOBAL INVESTMENT AUTHORITY are trademarks or registered trademarks of Allianz Asset Management of America L.P. and Pacific Investment Management Company LLC, respectively, in the United States and throughout the world. ©2013, PIMCO.
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