The Pacific Investment Management Co. Total Return Fund reported outflows of about US$27.5 billion in October, with nearly half of them occurring in the first five trading days of the month.
Two vice-presidents from Pacific Investment Management Company have moved to Canada.
The Florida State Board of Administration, which manages the state's pension plan, is withdrawing assets from two PIMCO funds.
Star power can make a lot of money in Hollywood, but it can be toxic in the investment industry. That message came across loud and clear the other week when superstar investor Bill Gross left the firm he founded to go to a competitor. One interesting development that has come along with Gross’s departure has been where investors are choosing to put their money—exchange-traded funds, which have experienced a big bump in assets.
Investors withdrew an estimated US$23.5 billion from the Pacific Investment Management Company Total Return Fund in September.
Pacific Investment Management Company has elected Daniel Ivascyn to serve as group chief investment officer.
Bill Gross—founder, managing director and chief investment officer of Pacific Investment Management Company (PIMCO)—is leaving after 43 years with the firm.
February’s much-hyped launch of the PIMCO Total Return ETF was a huge deal in the investment space, and one I thought might be a game changer for both active managers and ETF providers down the road. Not only is bond star Bill Gross managing it, an ETF version of the world’s largest mutual fund has the potential to cannibalize PIMCO’s bottom line and further accelerate the flow of mutual fund assets into cheaper ETFs.
Firm's first location in Latin America to open in September.
Global investment management firm PIMCO will open an office in Rio de Janeiro, Brazil, in September 2012. The new office will be PIMCO’s first location in Latin America and will be led by Alec Kersman, senior vice-president and head of PIMCO’s Latin America and Caribbean business.