Pimco’s Patrick Dunnewolt: “Think global, act local”

With vaccine programmes rolled out and most European countries looking to ease the tight restrictions around travel come summer, many asset managers are also looking to get back to travelling. Despite some Nordic countries having looser restrictions than some of their European counterparts, most investors in countries such as Sweden have, however, opted out from any face-to-face meetings deemed non-essential. For managers, this has meant almost a yearlong halt in any in-person meetings with clients. So, how has this long separation from clients worked out for asset management companies, especially ones that do not have a local presence in the region?

The USD 2.2 trillion (EUR 1.8 trillion) fixed income manager Pimco’s head of Nordic region, Patrick Dunnewolt, says that despite not being able to meet clients face to face, or having a local office, the active fixed income manager has still managed to increase its asset base in the Nordic region. “We have this saying ‘Think global, act local’. Our team consists of people from different Nordic countries, so we have the insight without currently being able to have actual physical presence,” he notes, adding: “You can have all the plans in the world but unexpected events, such as the