June 23, 2020 / 5:57 PM / 16 days ago

PIMCO CEO sees investment opportunities in distressed credit

NEW YORK, June 23 (Reuters) - The damage done to the U.S. economy by the coronavirus pandemic will create opportunities for investors in distressed credit, PIMCO chief executive Emmanuel Roman said at the Bloomberg Invest Global conference on Tuesday.

Roman is not expecting U.S. gross domestic product to return to 2019 levels until the end of 2021. The next 18 months therefore, are a time when investors can secure positions in businesses and credit at low prices.

Newport Beach, California-based PIMCO has $1.78 trillion assets under management. (Reporting by Kate Duguid Editing by Chizu Nomiyama)

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