PIMCO

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Pacific Investment Management Company
TypeSubsidiary
IndustryFinancial Services
Founded1971
HeadquartersNewport Beach, California, U.S.
Key peopleWilliam H. Gross, Co-Founder, Mohamed A. El-Erian, CEO, Douglas Hodge, COO[1]
ProductsInvestment management
RevenueUndisclosed to public
Employees2000+
ParentAllianz
Websitewww.pimco.com
 
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Pacific Investment Management Company
TypeSubsidiary
IndustryFinancial Services
Founded1971
HeadquartersNewport Beach, California, U.S.
Key peopleWilliam H. Gross, Co-Founder, Mohamed A. El-Erian, CEO, Douglas Hodge, COO[1]
ProductsInvestment management
RevenueUndisclosed to public
Employees2000+
ParentAllianz
Websitewww.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO), is an American global investment firm headquartered in Newport Beach, California, in the United States, and one of the largest active global fixed income investment managers in the world.[2] As of December 31, 2012 it had $2 trillion in assets under management[3] It is the world’s largest bond investor.[4]

PIMCO is led by co-founder William H. Gross,[5][6] (usually known as Bill Gross[7]) who serves as Co-Chief Investment Officer, and Mohamed A. El-Erian, the other Co-CIO and the firm's CEO.[8] Gross manages the Total Return Fund, the world’s largest mutual fund with assets of $242.7 billion as of June 30, 2011.[9] Its head of European operations is Andrew Balls, the brother of the British shadow chancellor Ed Balls.[10]

The firm was founded in 1971, launching with $12 million of assets. Previously, PIMCO had functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. In 2000, PIMCO was acquired by Allianz SE,[11] a large global financial services company based in Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.

PIMCO oversees investments on behalf of a wide range of clients, including millions of retirement savers, public and private pension plans, educational institutions, central banks, foundations and endowments, among others.

References[edit]

  1. ^ Mamudi, Sam, "Pimco COO blasts financial culture", MarketWatch, October 23, 2012. Retrieved 2012-10-24.
  2. ^ PIMCO
  3. ^ PIMCO Overview
  4. ^ Non-members: Look at it this way: The euro crisis is a threat to non-members too, by The Economist, 12 Nov 2011.
  5. ^ "Morningstar Names Bruce Berkowitz, David Herro, and Bill Gross Fund Managers of the Decade" (Press release). Morningstar, Inc. January 12, 2010. Retrieved May 12, 2011. 
  6. ^ Machan, Dyan (July 14, 2009). "The World's Greatest Investors: Gross". SmartMoney. The Wall Street Journal. Retrieved May 12, 2011. 
  7. ^ "Pimco Total Return ETF". Bloomberg. Retrieved 31 May 2013. 
  8. ^ "PIMCO Announces Mohamed El-Erian to Rejoin Firm as Co-CEO, Co-CIO" (Press release). PIMCO. September 11, 2007. Retrieved May 12, 2011. 
  9. ^ "PIMCO Total Return Fund Overview". Money: Mutual Funds. U.S. News & World Report. Retrieved May 13, 2011. 
  10. ^ http://www.theguardian.com/business/2012/mar/02/bonds-government-borrowing
  11. ^ "Allianz completes acquisition of PIMCO Advisors" (Press release). Allianz. May 5, 2000. Retrieved May 13, 2011. 

External links[edit]