PIMCO’s chief investment officer Bill Gross, who manages the world’s biggest bond fund worth $1 trillion, told CNBC Wednesday that he is making a shift towards equities.
“We’re making a move into equities, period,” said Gross. “We are recognizing that the global marketplace is not just bond oriented, and so equities have a place..always have had a place.”
According to Gross, corporate equities, valuation-wise, “are selling at very low P/E ratios and in some cases might be perceived to be almost as safe, or almost as secure as the sovereigns themselves”.
