+------------------------------------------------------------------------------+
Pimco’s Maisonneuve Says Selloff Is Opportunity to Buy Stocks 2014-02-06 09:25:35.439 GMT
By Alexis Xydias and Francine Lacqua Feb. 6 (Bloomberg) -- Market decline is opportunity to pick “cheap” cyclicals, consumer stocks in emerging markets, says Virginie Maisonneuve, deputy CIO and head of equities at Pimco. * Markets in “transition phase” as policies change, growth slows, Maisonneuve says on Bloomberg TV’s “The Pulse” * Pimco investor sees “beautiful consumer franchises” in developing nations that are “niche” and have sold off * It’s a “stockpicking market, not a beta market,” investors should have a “balanced and anchored portfolio with defensive” companies: Maisonneuve * Banking sector in Europe has “challenges,” industry environment will be “tough” with volatility and subdued growth: Maisonneuve * See: Pimco Hires Schroders’s Maisonneuve to Lead Equity Expansion
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
To contact the reporter on this story: Alexis Xydias in London at +33-1-5365-5019 or axydias@bloomberg.net
To contact the editor responsible for this story: Cecile Vannucci at +44-20-3525-7032 or cvannucci1@bloomberg.net