Pimco fund shifts to tech stocks after success in Chinese market

Pacific Investment Management Co.’s quantitative fund, despite China’s slumping stock market, is now turning its attention to the underperforming tech giants after delivering notable returns. Chris Brightman, the chief investment officer at Research Affiliates LLC and a co-manager of some Pimco funds, stated that they are considering integrating these positions into their portfolios due to the attractive valuations. This move comes after their success in the Chinese market, reflecting the potential for growth in the tech sector despite recent challenges.