Investors should focus on monetary policy divergence and its implications in the new year, Scott Mather, Pimco's chief investment officer, said Thursday.
"We have central banks actually moving in the opposite direction, which is a fairly unusual event and configuration for the developed world ... meanwhile we have other central banks, in fact, most other international central banks in the world are headed in the opposite direction. There are many investment themes that follow on from that," he told CNBC's "Power Lunch."
Mather said that central banks are making these different decisions in order to promote growth — and that could be a good thing for economies around the globe.
"We do think that growth will be higher for most of the world than it has been in the past trailing 12 months," he said.
Mather warned that investors should be cautious with emerging markets, due to possibly big changes in commodity prices. "That's still going to be a source of volatility next year, but we do think that there will be some good opportunities for investors," he said.