Reported 20 days ago
Pimco and DoubleLine are capitalizing on turmoil at Western Asset Management Co. (Wamco) following an SEC investigation into key trader Ken Leech, leading to significant asset withdrawals. They are vying for billions in mandates as clients transition away from Wamco, navigating a competitive landscape where traditional money managers struggle against the rise of passive funds. This unexpected situation gives firms like Pimco a rare chance to attract fresh capital during a challenging time for active asset management.
Source: YAHOO