Pimco fund beating 97% of peers cuts Magnificent Seven to bet on Asia

Pimco fund beating 97% of peers cuts Magnificent Seven to bet on Asia

Wall Street is growing sceptical over whether high valuations, soaring AI spending can justify further gains Read more at The Business Times.

Pimco's Top-Performing 60/40 Fund Bets AI's Next Winners Are In Asia, From Chips To Rare Earths

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Pimco’s Top-Performing Fund Eyes Asian AI Leaders in Chips and Rare Earths

Emmanuel Sharef, overseeing Pacific Investment Management Co.'s Balanced Income and Growth Fund, suggests a surge in artificial intelligence (AI) developments centered around Asian stocks. The $19 billion fund, outperforming 97% of peers in the last three years, is attracting affluent clients from Taiwan, Hong Kong, Singapore, and mainland China. Sharef notes the fund's strategic underweighting of hyperscalers and the Magnificent Seven due to es…