Pimco Quant Fund That Picked China Stock Winners Turns to Tech
- Alibaba, Tencent among favored tech stocks on valuations
- Its emerging markets fund beat 94% of peers in past year
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A Pacific Investment Management Co.’s quantitative fund that delivered returns despite China’s slumping stock market is turning to beaten-down tech giants.
“We’re getting closer to the point where we would put those positions into our portfolios,” as valuations have become cheap, said Chris Brightman — chief investment officer at Research Affiliates LLC — who co-manages some Pimco funds.