Bond giant Pacific Investment Management Co., is considering adding stocks for the first time as it expands its product line-up to investors, a person familiar with the firm told Bloomberg on Monday.
Pimco may hire an existing management team with a track record, after opening its first exchange- traded funds earlier this year.
Pimco CEO Mohamed El-Erian has said the U.S. is facing a sustained period of lower economic growth than in the past and elevated inflation, a scenario he called the "new normal."
