Bill Gross, a bond manager, forecasts further fall of 10 percent in many asset classes, while advising investors that cash is the best bet until a clear picture about the next direction of the market emerges.
Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy.
Pimco's global equities Chief Investment Officer Virginie Maisonneuve is leaving after less than a year and a half as the bond investment giant narrows its stock-investing focus, it said on Thursday.
The Ukrainian government approved on Saturday the framework for Ukraine's debt restructuring operation through which it aims to generate $15.3 billion, the Finance Ministry said in a statement.
Luxembourg's Griffin Real Estate and U.S. investment fund Pimco have agreed to buy Polish billionaire Michal Solowow's 41.55-percent stake in business space developer Echo Investment, the Polish company said late on Friday.
Investors pulled $18.5 million from Bill Gross's Janus Global Unconstrained Bond Fund (JUCAX.O) in February, the first such cash withdrawal since the closely watched investor took on the portfolio in October, Morningstar said on Monday.
Pacific Investment Management Co suffered a record $27.5 billion in withdrawals from its flagship Pimco Total Return Fund in October, extending large net outflows following Bill Gross' surprise resignation from the firm.
Outflows from Pimco may be far from over as many investors have yet to decide whether to stick with the Newport Beach, California-based asset manager.
Investors hope the Bond King can remake himself as a team player. Bill Gross last week abruptly left Newport Beach, California-based Pimco, the firm he built into a bond giant, to join Janus Capital Group (JNS.N), a small Denver firm that touts on its website how its friendly, team-oriented culture creates "strong collaborators."
Pacific Investment Management Co suffered a record $23.5 billion of withdrawals from its flagship Pimco Total Return Fund in September, with its largest daily outflow occurring on the day of Bill Gross's surprise resignation from the firm.
Global equity markets fell on Monday as civil unrest in Hong Kong weighed on investor sentiment, while U.S. Treasury debt prices rose over uncertainty sparked by the protests.
Bill Gross's exit from the investment firm Pimco had an immediate impact on the company, with investors withdrawing about $10 billion following the announcement, the Wall Street Journal reported, citing a person familiar with the matter.
For Bill Gross, quitting Pimco's $222 billion Total Return Fund to take over a $13 million fund at Janus Capital is like resigning the U.S. presidency to become city manager of Ashtabula, Ohio, population 18,800.
Bill Gross' abrupt departure from Pimco, the giant bond firm that he co-founded more than four decades ago, was preceded by months of clashes between the star investor and the firm's executive committee that got progressively worse, according to sources familiar with the situation.
Douglas Hodge, the Chief Executive Officer of Pimco, told German newspaper that the abrupt decision of Mohamed El-Erian to leave the firm surprised everyone, Reuters reported.