Pacific Investment Management Co.’s James Moore said the asset manager is expecting most institutional investors will get 4 percent to 5 percent returns on their money instead of 8 percent to 9 percent.
“It’s going to be a while before we see the rosy returns people have gotten used to over the past 30 years,” Moore, a managing director for Newport Beach, California-based Pimco, said in a Bloomberg radio interview today. “What we’ve seen on the institutional side is slow ratcheting down of expectations.”
To contact the reporter on this story: Alexis Leondis in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Christian Baumgaertel at email@example.com