"Investors didn't have enough time to understand the credit, decisions are taken very quickly and those companies may have problems in refinancing or repaying debts if the market shuts," Posch said. Investors who buy bonds of new companies without appropriate due diligence will "end up in tears," she said.
Pimco, which oversaw $1.82 trillion of assets as of June 30, is a unit of insurer Allianz SE. The firm, known for its bond funds run by Bill Gross, began expanding into other asset classes including stocks more than two years ago and in April announced plans to open its first Latin American office in Rio de Janeiro.