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28 марта, 06:04

Инвестиционная компания PIMCO: Ужесточение политики Народного банка Китая PBOC - новый подход и это еще не все

Исаака Менга, менеджера портфеля по развивающимся рынкам в офисе PIMCO в Гонконге, высказался о недавних политических шагах Народного банка Китая 16 марта Народного банка Китая (PBOC) повысил ставку 7-дневного обратного РЕПО с 2,35% до 2,45% и повысил кривую ликвидности в целом на 10 базисных пунктов. В своем заявлении, центробанк определил поход ФРС и улучшения экспорта в качестве глобальных катализаторов для повышения ставки и указал на снижение реальных ставок, сильное расширение кредита и рефинансирование собственности в качестве внутренних факторов. В целом, PBOС считает повышение ставок денежного рынка и ужесточение ликвидности полезными в усилиях по «снижению доли и обузданию пузыря собственности». Безусловно, ястребиный сдвиг также помогает поддерживать скачкообразную привязку юаня к доллару США, поскольку ФРС продолжает повышать процентные ставки в США. После этого второго ужесточения в 2017 году китайские политики явно перешли из режима «роста» в режим «стабильность, управление рисками» Действительно, в начале марта Китай снизил официальный прогноз роста до 6,5% с 6,5% до 7,0%. Становится также очевидным , что PBOC принимает новый подход к повышению ставок . В прошлых циклах ужесточения он регулярно повышал ставки по банковским вкладам и ссудам, как правило, на 25 б.п. в каждом движении. На этот раз и в аналогичном движении в феврале, PBOC вместо этого поднял ставки репо / денежного рынка и всего на 10 б.п. каждый раз. Означает ли это, что повышение ставок PBOC менее эффективно, чем раньше? И каковы более широкие последствия для экономики Китая и глобальных рынков? Зачем повышать ставки репо? Конечно, повышение ставок банковских депозитов / кредитов на 25 б.п. является более сильным шагом и имеет более сильные сигнальные эффекты, чем повышение ставки репо на 10 б.п. Тем не менее, в хрупкой и неопределенной макроэкономической среде, особенно если индекс потребительских цен в Китае остается ниже целевого уровня 3%, центральный банк может предпочесть гибкость и предварительное ужесточение ставок фондового рынка вместо того, чтобы использовать тупой инструмент, например, ставки по банковским депозитам. Можно также утверждать, что ставки репо фактически становятся новыми политическими ставками Китая. Цикл ужесточения PBOC явно негативен для рынка государственных облигаций Китая (CGB). Сохранение привязки юаня к доллару США, вероятно, продолжит ограничивать монетарную политику; PBOC по-прежнему сталкивается с «трилеммой», пытаясь поддерживать стабильный обменный курс, независимую денежно-кредитную политику и свободный поток капитала в одно и то же время. Поэтому в течение 2017 года мы ожидаем, что PBOC продолжит постепенный сглаживающий сдвиг, повысив ставки репо до 30 б.п. (в три хода по 10 б.п.), доведя семидневный репо до 2,75%. Это должно ужесточить денежно-кредитные условия с течением времени, замедлив темпы экономического роста и сырьевых товаров во второй половине этого года. Информационно-аналитический отдел TeleTradeИсточник: FxTeam

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28 марта, 01:01

'Bond King' Bill Gross settles Pimco feud for $81m

Star bond trader ends "family disagreement" with his former firm in $81m (£65m) settlement.

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28 марта, 01:01

'Bond King' Bill Gross settles Pimco feud for $81m

Star bond trader ends "family disagreement" with his former firm in $81m (£65m) settlement.

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27 марта, 22:21

Star investor Bill Gross reaches $81 million settlement with Pimco

Legendary investor Bill Gross has reached an $81 million truce with Pimco, ending a war with the firm he built into the world's biggest bond manager.

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27 марта, 22:21

Star investor Bill Gross reaches $81 million settlement with Pimco

Legendary investor Bill Gross has reached an $81 million truce with Pimco, ending a war with the firm he founded and built into the world's biggest bond manager.

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27 марта, 20:46

Billionaire Bill Gross Settles 'Cabal' Lawsuit With Bond Giant Pimco After 2014 Ouster

Billionaire bond investor Bill Gross has settled his $200 million suit against PIMCO, the trillion dollar bond firm he co-founded in the 1970s.

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27 марта, 20:19

Bill Gross settles feud with Pimco for $81m

‘Family disagreement’ with bond king’s former firm ends with mutual praise

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27 марта, 20:19

Bill Gross settles feud with Pimco for $81m

‘Family disagreement’ with bond king’s former firm ends with mutual praise

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27 марта, 19:49

Bill Gross Awarded $81 Million In PIMCO Lawsuit Settlement

Bill Gross and his former employer PIMCO announced that they have reached an amicable settlement of the breach-of-contract lawsuit filed by Mr. Gross in October 2015, under which Gross would reportedly be awarded $81 million. In a statement regarding the settlement, Gross repeated that his lawsuit had never been about money. Although the settlement’s terms are confidential, Gross and PIMCO confirmed that any proceeds from the suit will be donated to charity, as Gross had promised since the beginning of the suit. “I’ve always been amazed by my success, and grateful for the opportunity to make a difference in the world. I’m glad that can continue today,” Mr. Gross noted. As the WSJ adds, Gross intends to donate the proceeds to charity through his Bill and Sue Gross Family Foundation. Gross alleged that Pimco “wrongly and illegally” denied him hundreds of millions of dollars in earned compensation and damaged his reputation. As a reminder, Gross abruptly left Pimco in September 2014 amid tensions with his colleagues, most notably Mohamed El-Erian, and in 2015 sued the manager for at least $200 million in damages, alleging he was forced out. Gross alleged that Pimco “wrongly and illegally” denied him hundreds of millions of dollars in earned compensation and damaged his reputation. “Driven by a lust for power, greed, and a desire to improve their own financial position and reputation at the expense of investors and decency,” the suit says, “a cabal” of Pimco “managing directors plotted to drive founder Bill Gross out of Pimco.” Gross intends to seek a dismissal Monday in California Superior Court, the people said. Regarding the lawsuit itself, Mr. Gross said in a statement that “PIMCO has always been family to me, and, like any family, sometimes there are disagreements. I’m glad that we have had the opportunity to work through those, and see the PIMCO founders receiving the recognition they deserve. I am honored to be included in their ranks and to know that PIMCO is in capable hands.” Gross left Pimco in September 2014 for Janus Capital Group, where he manages money. * * * Full press release below: NEWPORT BEACH, Calif., March 27, 2017 (GLOBE NEWSWIRE) -- Bill Gross and Pacific Investment Management Company LLC announce that they have reached an amicable settlement of the lawsuit filed by Mr. Gross in October 2015.   In a statement regarding the settlement, Mr. Gross repeated that his lawsuit had never been about money. Although the settlement’s terms are confidential, Mr. Gross and PIMCO confirmed that any proceeds from the suit will be donated to charity, as Mr. Gross had promised since the beginning of the suit. “I’ve always been amazed by my success, and grateful for the opportunity to make a difference in the world. I’m glad that can continue today,” Mr. Gross noted.   Regarding the lawsuit itself, Mr. Gross said in a statement that “PIMCO has always been family to me, and, like any family, sometimes there are disagreements. I’m glad that we have had the opportunity to work through those, and see the PIMCO founders receiving the recognition they deserve. I am honored to be included in their ranks and to know that PIMCO is in capable hands.”   PIMCO recognizes the enormous contribution to its success made by Mr. Gross and its other founders and leaders, such as James Muzzy, William Podlich, Bill Thompson, Walter Gerken, and Chris Dialynas, the visionaries who created a global investment powerhouse, and an entire industry of fixed-income investments. Over the decades of their leadership and that of those following in their footsteps, PIMCO has helped its clients—including individual investors saving for retirement, pension plans, educational institutions, and charitable foundations and endowments—generate billions of dollars of investment returns. Additionally, through the leadership of the PIMCO Foundation, which was created and originally funded by Mr. Gross, PIMCO donates millions of dollars annually to ensure that communities throughout the world are empowered through education, health support, gender equity, and other programs vital for the connected 21(st) century.   PIMCO is also taking steps to ensure that the legacy and contributions of its founders, as both corporate and charitable citizens, are honored and preserved. To that end, PIMCO is dedicating a new  “Founders Room” in their honor at PIMCO’s Newport Beach headquarters. Additionally, the PIMCO Foundation is naming Mr. Gross a “Director Emeritus” and establishing an annual “Bill Gross Award” in recognition of his career-long dedication to the charitable endeavors that are at the heart of the Foundation’s mission.   “Bill Gross has always been larger-than-life,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer. “He has a well-deserved stellar reputation as an investor and a philanthropist. Bill has had an  enormous influence on PIMCO and the careers of many who have passed through its halls. He built this business from the ground up and we have great respect and admiration for his talents.”   The case was William H. Gross v. Pacific Investment Management Company LLC, et al., Orange County Superior Court Case No. 30-2015-00813636-CU-BC-CJC. Mr. Gross was represented by Patricia L.  Glaser, G. Jill Basinger and Rory S. Miller of Glaser Weil Fink Howard Avchen & Shapiro. PIMCO and Allianz Asset Management of America were represented by David Boies, Christopher E. Duffy, Scott R. Wilson, and Qian A. Gao of Boies Schiller Flexner LLP.

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27 марта, 19:47

Pimco to settle Bill Gross dismissal suit for $81m

Settlement to be paid to family foundation after claim following 2014 ousting

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27 марта, 19:14

Pimco close to settling suit with founder Bill Gross: WSJ

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

27 марта, 17:20

Trump Trade Fades: Top and Flop ETFs of Last Week

Wall Street witnessed the worst weekly performance since election as the euphoria over the President Donald Trump evaporated.

27 марта, 16:15

Treasury and Utilities: 2 ETFs to Watch on Outsized Volume

ZROZ and FXU saw massive trading volume in Friday trading session.

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23 марта, 20:41

Portugal bank bond defies Pimco/BlackRock boycott

Caixa Geral de Depósitos debt attracts orders with yield above 10%

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22 марта, 22:50

5 Financial Myths You Should Ignore

Authored by Richard Rosso via RealInvestmentAdvice.com, The financial terrain is strewn with robust fables cleverly disguised as facts. The setbacks to financial security due to stock market returns never realized, the precious time and human capital necessary to make up for market losses, the ingenious data-mining undertaken by populist gurus that want you to believe that stocks are a panacea; talking heads at big-box brokerage firms disguised as fiduciaries who make fortunes convincing investors to feel silly for being cautious. The deck is stacked against the retail investor. Now more than ever. As the majority, this marketing force cranks out stories and grinds down the painful past of market events into the mist of averages. They so want investors to forget the past. And like the destruction of so many pebbles on this road, your retirement and other financial life benchmarks are left as rubble. The tenacious nature of outdated financial tenets is never questioned. These rules of thumb, words that should weigh a thousand pounds each, roll off the tongues of financial pros and layman alike as lightly today as they did generations ago. Rancid bits of wisdom preached as gospel. Thank goodness this isn’t medicine. Sickness would still be drained by leeches. Let’s bust open the stories and myths that place your efforts to build wealth in danger. Myth #1 – Compound interest will make you rich.  Compound interest is the coolest story ever, but that’s about it.  You so want to believe it. And there was a time you could. But not so much today. Albert Einstein is credited with saying “compound interest is the eighth wonder of the world.” ?Well, that’s not the entire quote. Here’s the rest: “He who understands it, earns it; he who doesn’t pays it.” I’m not going to argue the brilliance of Einstein although I think when it comes down to today’s interest-rate environment he would be quite skeptical (and he was known for his skepticism) of the real-world application of this “wonder.” First, Mr. Einstein must have been considering an interest rate with enough “fire power” to make a dent in your account balance. Over the last eight years, short-term interest rates have remained at close to zero, long term rates are deep below historical averages and are expected to remain that way for some time. Indeed, compounding can occur as long as the rate of reinvestment is greater than zero, but there’s nothing magical about the “snowballing” effect of compounding in today’s rate environment. Most important: Compounding only works when there is NO CHANCE of principal loss. It’s a linear wealth-building perspective that no longer has the same effectiveness considering two devastating stock market collapses which have inflicted long-term damage on household wealth. What good is compounding when the foundation of what I invested in is crumbling? Perhaps you should focus on the “he who understands it, earns it; he who doesn’t pays it.” What does that adage mean to you? Empowerment comes from living simply, avoiding credit card debt, and searching out deals on big ticket items like automobiles and appliances. Don’t?give compound interest another precious thought. If it comes along, consider it a great gift.  A bounty. Fine tune what you?can control and that primarily has to do with outflow or household expenses. I believe the eighth wonder of the world is human resolve in the face of economic reality post-Great Recession. Not compound interest. Myth #2 – Ditch that latte and energize your wealth.  This advice is as bitter as the gas station brew that languishes in stained pots poised hot burners way too long. Mega-money celebs like Suze Orman and Dave Ramsey fall all over themselves with wisdom that attempts to make you feel guilty for waiting in the coffee line at Starbucks. Listeners and readers of these two customarily are served swill like this on a regular basis. A sweet topping on the sentiment is the tempting promise of consistent, annual investment returns of 10 to 11% in the market which is as far from reality as a broker without a sales quota. Re-directing $2.50 from simple, daily enjoyment into risk assets is not going to move your wealth needle but you may wind up with a heck of a headache from caffeine withdrawals. Sorry. In the book, “Pound Foolish” author and financial blogger Helaine Olen investigates and busts open the myths of personal finance in an entertaining yet thorough tell-all.  Helaine discovered the latte factor surfaced as far back as 1994 in a Money Magazine article. Touted by Suze Orman in her 1999 bestseller “The Courage To Be Rich” the perky, blonde-top advocate for savvy personal financial choices was downright polemic about the subject (perhaps from overloading on caffeinated beverages whilst writing). There’s no doubt your uptown caffeine addiction is under siege by pundits who take themselves so seriously they believe they can peddle trivial watered-down financial Pablum and you’ll take it in, bask in epiphany, see a white light.  Frankly, the only thing high-octane about this wisdom is the egos it took to deliver it. With close to three decades of financial services industry experience under my belt, I have yet to witness anyone pump an arm in victory over the wealth they’ve accumulated by reducing coffee intake. To place it in perspective, $2.50 a day, invested for 30 years at 4% will provide a whopping $1,691 “windfall” not adjusted for inflation, investment fees and charges. What’s your return on satisfaction for $2.50 a day? I think it’s a bargain if a small purchase provides a big breather, peace of mind, and a recharge to carry on with important tasks. Purchase the coffee. Buy a cup for me while you’re at it. Deprivation of simple pleasures is not a path to financial fulfillment. While you’re partaking, place the time aside with pen and paper (put the smartphone away), and in a sentence, describe your ongoing relationship with money. In simple sentence number two, identify a single financial action that achieves three-digit success each month. In other words, if you’re going to make a change, do it with gusto. Consider how can you cut $100 a month in expenses and direct the funds into an emergency savings account first, investments after you’ve accumulated three to six months of living expenses in financial cushion. Last, create a rule for the big stuff. This could be tough (and ostensibly may require that brain boost from that make-or-break-your-finances latte). A tenet I created is featured in a new book titled “WORTH IT,” by Amanda Steinberg a friend and fintech thought leader with a passion to help girls and women begin, improve and prosper in their relationships with money and debt: “Never take on a mortgage that exceeds twice your gross income.”  Or:  “House Mortgage = 2X Gross Salary.”  It’s simple. To the point. If you earn $50,000 a year, the mortgage you obtain cannot exceed $100,000. This is not house price. It’s the mortgage. For most it’s going to mean a much greater down payment or smaller dwelling. Obey and respect your personal formula. You’re going to hate the boundaries and that means they’ll be uncomfortable and successful if consistently followed. Avoiding house-poor will super-charge your ability to build wealth. Now, that end result I have indeed witnessed from people I’ve been grateful to counsel over the last three decades. Myth #3 – The Rule of 72.   Where do I begin with this rule after I’m done hemorrhaging from disappointment? Recently, a well-known financial showman was lamenting, stretching the meaning (again) and hitting sound effect buzzers over this pearl. As a reminder, the Rule of 72 is a method to determine how long an investment will take to double given a fixed annual rate of interest. Just divide 72 by an annual rate of return. When working with low rates of return, interestingly, the rule is precise. As returns increase, the rule gets less precise per Investopedia. Yet, this rule is bandied about when it comes to stock investing where rates of return are anything but fixed. As of the morning of this writing I had met with two couples who still maintain carryforward losses from the tech bubble that popped in 2000. Perhaps, the Rule of 72 should be reworked to consider how long it may take to recover from investment setbacks. Could it be plausible that it may take 72 years to fully utilize losses incurred during the tech bubble and the financial crisis? Hey, that’s nowhere near as farfetched as applying the Rule of 72 to volatile investments. When you come across this rule again (and if you haven’t yet, you will), I need you to remember that it only holds water for fixed, low rates of return which clearly rules out stocks. Myth #4 – I read somewhere that I should use the formula 100 minus my age to determine how much of my money needs to be invested in stocks.  I abhor this creation. What does age have to do with how much of a portfolio is allocated to riskier investments like stocks? I’m not willing to believe those who are younger should be more exposed or increasingly vulnerable to market risk than anybody else, when the reward from stocks is less for every investor going forward. This rule is a clear disadvantage for all including beginners. An investment allocation must be customized for your life, needs, and your sheer will to withstand volatility. Most important, it should be based on the valuation conditions that exist at the time you’re looking to place dollars into the market. I witness cookie-cutter dogma blindly followed and money invested immediately regardless of where stocks are valued. Ultimately, the forward returns are anemic or wealth destroyed altogether. Financial consultants and brokers have needles deep stuck in thought grooves. It’s not just this rule per se. It’s the belief that younger people must, MUST be more aggressive because they have time to weather through disaster. Risk couldn’t care less about how old you are. When the environment is favorable to take on greater risk for higher returns, then why be so focused on age? How would you perceive my advice if I explained that you should fasten your seatbelt before driving however, your 18-year-old child doesn’t need to be concerned about doing the same? I mean, after all, if there’s an accident and injuries suffered, common sense tells me you may require a longer convalescence period, correct? Not to be flippant, but I can make a formidable case that based on savings accumulated, earning power, and driver (investment) experience, that the older, wiser navigator may forgo the seat belt but the novice cannot. Never. Think about it. Myth #5 – Stocks always outperform bonds.  They do? I heard this gem from an industry pro on CNBC the early morning of 3/17. Hey if a financial guru proclaims it, and a powerhouse backs it up, it must be truth. Over the long term, stocks do better. Since 1926, large stocks have returned an average of 10 % per year; long-term government bonds have returned between 5% and 6%, according to investment researcher Morningstar. Don’t ask me why 1926 is so magical a launching pad for the formation of those colorful charts every broker whips out at every meeting. You’ve seen them. Perhaps, it’s because there’s limited data set and deciding to preach from an arbitrary point in time just feels right? Seems plausible. The gatekeepers of finance who make rules for investors and professionals to follow like lemmings, create pretty pictures that we’re never to question. Frankly, I don’t care why 1926 is so special. Neither should you. It’s irrelevant to your situation and the cycle you’re either accumulating or distributing wealth through. The coolest tidbits of 1926 involve increased gangster warfare and bloodshed employed to establish territory for illegal alcohol distribution. Depending on how I slice and dice the data, I can show a magnificent run for bonds when compared to stocks. The chart above outlines the performance of the PIMCO Total Return Bond fund, an intermediate duration bond fund offering (and one of the most popular), compared to S&P 500 beginning in 1999. Why 1999? Because I wanted to, that’s why. Appears to me that stocks don’t always outperform bonds. What do you see? Silly myths, misused snippets of information, creative data mining. They’re all not so silly when your wealth is on the line. Are they? Things get serious. And so many myths and stories need to die away. Never to return.

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22 марта, 19:29

BlackRock, Pimco shun Portuguese bank bond

The asset managers are in a legal fight with Portugal over losses stemming from Novo Banco

17 марта, 18:43

3 Top Real Estate Mutual Funds to Buy Now

Below we share with you three best-rated real estate mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy)

17 марта, 14:54

S&P может повысить рейтинг Индонезии

Прогресс в проведении налогово-бюджетной реформы может побудить S&P вернуть кредитный рейтинг Индонезии на инвестиционный уровень в этом году, что, как ожидается, спровоцирует приток капитала в крупнейшую экономику Юго-Восточной Азии, сообщает CNBC.

17 марта, 14:54

S&P может повысить рейтинг Индонезии

Прогресс в проведении налогово-бюджетной реформы может побудить S&P вернуть кредитный рейтинг Индонезии на инвестиционный уровень в этом году, что, как ожидается, спровоцирует приток капитала в крупнейшую экономику Юго-Восточной Азии, сообщает CNBC.

25 марта 2016, 11:36

Scofield: Атаки на Х. Клинтон

06.03.2016 г. на ресурсе China Matters появилась публикация, очень точно нацеленная на нанесение репутационного ущерба Х.Клинтон в контексте предвыборной кампании в США Название статьи: «Ливия: хуже, чем Ирак. Прости, Хиллари». Ливийское фиаско может оказаться камнем преткновения в президентских притязаниях Хиллари Клинтон.

10 ноября 2015, 20:59

Бывший банкир Goldman Sachs и PIMCO вошел в ФРС США

Новым президентом Федерального резервного банка Миннеаполиса стал бывший топ-менеджер инвестбанка Goldman Sachs и фонда облигаций PIMCO Нил Кашкари.

20 октября 2015, 23:32

PIMCO подала иск о мошенничестве к Petrobras

Американская финансовая компания PIMCO подала иск о мошенничестве к бразильскому нефтегазовому концерну Petrobras.

29 апреля 2015, 22:18

Бернанке станет консультировать PIMCO

Бывший глава Федеральной резервной системы США занял пост старшего советника крупнейшего облигационного фонда Pacific Investment Management Co. - PIMCO Total Return.

03 октября 2014, 09:23

Программа "Финансовая стратегия" от 3 октября 2014 года

Вкладчики забирают свои деньги из американского фонда PIMCO . он потерял больше 20 миллиардов долларов. Так инвесторы реагируют на уход из компании одного из основателей Билла Гросса. А вот акции фонда Janus Capital, в который легендарный инвестор устроился на работу, стали пользоваться повышенным спросом. Как на этом заработать?

05 марта 2014, 12:30

Зачем PIMCO понадобились "токсичные" активы?

Pacific Investment Management Co. привлек средства клиентов, для того чтобы вложиться в "токсичные" активы, пишут западные СМИ со ссылкой на свои источники. Сейчас самое время для покупки "токсичных" активовТаким образом, Билл Гросс, глава PIMCO, одной из крупнейших в мире компаний по управлению активами, наконец сдался. Он стал, наверно, последним управляющим, который признал, что при доходности десятилетних трежерис в 2,5% покупать нужно акции, а не облигации. Многие коллеги по цеху уже давно сместили свои аппетиты в пользу более высокодоходных активов. Об этом свидетельствуют и последние данные по доходности, согласно которым самый большой фонд PIMCO уступает 70% своих конкурентов. Мало того, что Гросс изменил самому себе, так еще и активы для инвестиций, если верить источникам, выбраны самые что ни на есть "токсичные". Но обо всем по порядку. Речь идет о фонде Bravo II, в который было привлечено ни много ни мало $5,5 млрд. На данный момент он уже закрыт для новых клиентов. Так вот, эти деньги планируется вложить в банковский сектор США и Европы, но это будут не акции или облигации, это будут на самом деле "токсичные" активы, то есть те, от которых банкам в срочном порядке нужно избавиться. Иными словами, списать их со своих балансов. Commerzbank уже успел продать часть просроченных кредитовПо сути, это просроченные кредиты, выданные банками как на покупку жилья, так и на другие цели. Такого "добра" у европейских кредиторов, что называется, выше крыши. Недаром МВФ еще в 2012 г. обязал банкиров избавиться от этих "плохих" кредитов до 2014 г. По подсчетам валютного фонда, тогда объем "мусора" составлял порядка $4,5 млрд. Если взглянуть на календарь, то становится ясно - банки уже выбиваются из графика. Конечно, глупо полагать, что они еще не притрагивались к расчистке балансов, но найти достаточно покупателей на эти активы задача не из легких. Поскольку время на исходе, диктовать цену теперь будут исключительно покупатели. Банки же в свою очередь будут молить о покупке. И все же, это же "токсичный" долг, то есть кредиты, просроченные уже по нескольку раз. Как такой актив может стать хорошей инвестицией? Вероятно, может. Расчет делается на то, что цена, уплаченная за такие активы, ничтожно мала относительно ее номинала, а на фоне восстановления экономики есть шанс, что те безработные, которые и являются должниками, наконец найдут себе новое место на рынке труда и тогда "мертвый" кредит оживет. Платежи по нему быстро сделают такой долг прибыльным для держателя. Среди хедж-фондов есть даже специальная классификация для тех, кто занимается подобными инвестициями. Можно вспомнить, например, как фонд Марка Мобиуса вложился в бонды Греции практически на минимальных отметках. Заработок в итоге превысил 200%. Билл Гросс открывает новые идеиС поиском продавцов у PIMCO проблем возникнуть не должно. Предложение достаточно велико. Так, по информации The Wall Street Journal, Commerzbank в феврале продал свой портфель ипотечных кредитов, выданных в Испании за 710 млн евро. Британский RBS продал портфель кредитов под постройку коммерческой недвижимости хедж-фонду Varde Partners. А частная инвестиционная компания KKR из США совсем недавно завершила переговоры о покупки "токсических" активов у итальянских банков Intesa Sanpaolo и UniCredit. Остается вопрос, зачем PIMCO занимается несвойственной для себя работой? Ответ лежит на поверхности: из-за низкой доходности уже несколько месяцев подряд из фондов компании наблюдается отток средств. Для того чтобы наверстать упущенное, Билл Гросс и решился на этот поступок.