PIMCO (Pacific Investment Management Company, LLC) is an American

investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...

firm focusing on active

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the prin ...

management worldwide. PIMCO manages investments in many asset classes such as

equities In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

commodities In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...

asset allocation Asset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investment tim ...

, ETFs,

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

s, and

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a ty ...

. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks,

sovereign wealth fund A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such ...

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

s, foundations and endowments, and individual investors around the world. PIMCO’s headquarters are in

Newport Beach, California Newport Beach is a coastal city in South Orange County, California. Newport Beach is known for swimming and sandy beaches. Newport Harbor once supported maritime industries however today, it is used mostly for recreation. Balboa Island, Newport ...

; the firm has over 3,100 employees working in 22 offices throughout the

Americas The Americas, which are sometimes collectively called America, are a landmass comprising the totality of North and South America. The Americas make up most of the land in Earth's Western Hemisphere and comprise the New World. Along with th ...

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

, and

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

History

PIMCO initially functioned as a unit of

Pacific Life Pacific Life Insurance Company is an American insurance company providing life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. History Paci ...

Insurance Co., managing separate accounts for that insurer's clients. The firm was founded in 1971, launching with $12 million of assets. In 2000, PIMCO was acquired by

Allianz SE Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. Th ...

, a large global financial services company based in

Munich, Germany Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and Ha ...

, but the firm continues to operate as an autonomous subsidiary of Allianz. On September 26, 2014, it was announced that Bill Gross, co-founder and former

Chief Investment Officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...

(dubbed the "Bond King" in the investment arena), was stepping down to join

Janus Capital Group Janus Capital Group, Inc. was an American publicly owned investment firm headquartered in Denver, Colorado. The company's asset-management disciplines included growth, core, international, value, mathematical, alternative and fixed-income. These ...

. In April 2015, PIMCO announced the hire of former

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

Chairman Dr.

Ben Bernanke Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Fed, he was appointed a distinguished fellow at the Brookings Institution. Durin ...

as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman

Alan Greenspan Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. ...

Leadership

PIMCO appointed

Emmanuel Roman Emmanuel "Manny" Roman (born August 1963) is a French financial executive. He is the chief executive officer (CEO) of PIMCO, a leading global investment management firm, based in Newport Beach, California. In 2011, he was named by the Evening St ...

as CEO effective November 1, 2016. He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.

Dan Ivascyn Daniel John Ivascyn is group chief investment officer for PIMCO. Ivascyn holds a bachelor's degree in economics from Occidental College and an MBA from the University of Chicago Graduate School of Business The University of Chicago Booth Sch ...

, group

chief investment officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...

(CIO) broadly oversees portfolio management and investment strategy. There are also five other CIOs: Andrew Balls, CIO Global Fixed Income; Mark Kiesel, CIO Global Credit; Scott Mather, CIO U.S. Core Strategies; Marc Seidner, CIO Non-traditional Strategies; and Mihir Worah, CIO Real Return and Asset Allocation. Roman was awarded the Chicago Booth Distinguished Alumni Award in 2019 in recognition of outstanding professional achievement. Ivascyn was inducted into the Fixed Income Hall of Fame in 2019 which recognizes leaders and pioneers who have transformed capital markets and established enduring legacies.

Awards

2019

*The Civic 50 Award by ''Points of Light.'' *Outstanding ESG Investment Leader of the Year by Scott Mather, ''Environmental Finance.'' *Innovation Award by ''Impact 2030.''

2020

* Best Place to Work for

LGBT ' is an initialism that stands for lesbian, gay, bisexual, and transgender. In use since the 1990s, the initialism, as well as some of its common variants, functions as an umbrella term for sexuality and gender identity. The LGBT term is a ...

Equality by

Human Rights Campaign The Human Rights Campaign (HRC) is an American LGBTQ advocacy group. It is the largest LGBTQ political lobbying organization within the United States. Based in Washington, D.C., the organization focuses on protecting and expanding rights for LGB ...

2021

*2021 Money Management Fund Manager of the Year Global Fixed Income award with the winning fund Global Bond Wholesale

References

External links

*
Pacific Investment Management Company LLC Company Profile
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PIMCO to focus on global funds
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"Inside the Showdown Atop PIMCO"
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The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' {{Authority control 1971 establishments in California 2000 mergers and acquisitions American companies established in 1971 Companies based in Newport Beach, California Exchange-traded funds Financial services companies based in California Financial services companies established in 1971 Investment management companies of the United States