In Brief:
- Pimco has dabbled its assets in cryptocurrencies and plans to do so further, says CIO Daniel Ivascyn.
- Ivascyn told CNBC that various hedge fund portfolios already have exposure to “crypto-linked securities.”
Pimco, which manages assets worth over $2.2 trillion, has dabbled its assets in cryptocurrencies and plans to do so further, says Chief Investment Officer Daniel Ivascyn.
CNBC interviewed PIMCO chief investment officer Daniel Ivascyn on Wednesday. During the interview, Ivascyn stated that various hedge fund portfolios already have exposure to “crypto-linked securities.”
According to him, it plans to expand its exposure to this asset class gradually as part of its “trend-following” and “quant-oriented” strategies.
He further added, “This will be a gradual process where we spent a lot of time on the internal diligence side speaking to investors. And we’ll take baby steps in an area that’s rapidly growing.”
He added that Pimco is “thinking about scenarios where this could take us to ensure that we are competitively prepared to deal with what’s a rapidly changing environment that offers a pretty significant value proposition.”
