Flipper, faster than lightning


Morgan Stanley’s wealth-management arm is having a call for its financial advisers with Pimco executives Monday to hear how the fund firm intends to deal with Mr. Gross’s departure, people familiar with the matter said. While Morgan Stanley has taken no formal action to limit Pimco funds in clients’ portfolios, some Morgan Stanley brokers have been selling in recent days, they say.

It’s a great opportunity for brokers to flip an old Pimco A share into a shiny new C share for that initial one percent commission. Nothing like getting unproductive client assets producing again.

It’s not often that an entire brokerage salesforce is handed a highly defensible, fully compliant fund flip opportunity – complete with well-documented and easily understood investment rationale. Provided the flip is into some other fund family’s shares, the register will most surely ring.

Count on a ton of it happening this month.


Billions Fly Out the Door at Pimco (Wall Street Journal)


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  1. Harvey commented on Dec 19


    tnx for info.

  2. Jeremy commented on Jan 23


    tnx for info.