By Jennifer Ablan
NEW YORK, Oct 4 (Reuters) - The ferocious appetite for yield has the TCW Group mulling a launch of a global fixed-income fund over the next six to 12 months, Tad Rivelle, the chief investment officer, said on Monday.
While a roll-out is 'not imminent,' the demand for income, diversification and capital preservation have been enormous, Rivelle, who helps oversee approximately $110 billion, told Reuters. In the first half of this year, U.S. bond mutual funds enjoyed $138 billion of net cash inflows while equity portfolios took in just $4 billion, according to Strategic Insight.
Rivelle said that the global fixed-income fund will likely include three core components: emerging markets, sovereign securities, such as Greek debt, and domestic fixed-income, including Treasury Inflation-Protected Securities.
TCW Emerging Markets Income Fund has been one of the firm's most popular this year, with net inflows of $700 million, Rivelle said. Rivelle said the chances of a double-dip recession are low but still 'unacceptable.'
'The slowish rate of job creation is not what you would expect from an economy pumped by steroids on Keynesian stimulus,' he added.
(Editing by Kenneth Barry) Keywords: INVESTING GLOBALFUND/TCW (jennifer.ablan@thomsonreuters.com; +1-646-223-6297; Reuters Messaging: jennifer.ablan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
NEW YORK, Oct 4 (Reuters) - The ferocious appetite for yield has the TCW Group mulling a launch of a global fixed-income fund over the next six to 12 months, Tad Rivelle, the chief investment officer, said on Monday.
While a roll-out is 'not imminent,' the demand for income, diversification and capital preservation have been enormous, Rivelle, who helps oversee approximately $110 billion, told Reuters. In the first half of this year, U.S. bond mutual funds enjoyed $138 billion of net cash inflows while equity portfolios took in just $4 billion, according to Strategic Insight.
Rivelle said that the global fixed-income fund will likely include three core components: emerging markets, sovereign securities, such as Greek debt, and domestic fixed-income, including Treasury Inflation-Protected Securities.
TCW Emerging Markets Income Fund has been one of the firm's most popular this year, with net inflows of $700 million, Rivelle said. Rivelle said the chances of a double-dip recession are low but still 'unacceptable.'
'The slowish rate of job creation is not what you would expect from an economy pumped by steroids on Keynesian stimulus,' he added.
(Editing by Kenneth Barry) Keywords: INVESTING GLOBALFUND/TCW (jennifer.ablan@thomsonreuters.com; +1-646-223-6297; Reuters Messaging: jennifer.ablan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.