Pacific Investment Management Company, LLC (commonly called PIMCO), is
an American investment management firm headquartered in Newport Beach,
California, with over 2,000 employees working in 13 offices across 12
countries, and $1.69 trillion in assets under management as of 30 Sept
2017. The company provides mutual funds and other portfolio management
and asset allocation solutions for millions of investors worldwide.
PIMCO offers a broad list of investment strategies that encompass the
entire risk spectrum and capital structure, including core bonds and
credit, structured credit, alternatives, real assets, equities and
PIMCO oversees investments on behalf of millions of clients, including
retirement savers, public and private pension plans, educational
institutions, central banks and government agencies, foundations and
endowments and financial intermediaries among others.
The firm, a prominent thought leader in the financial markets, is
known to have coined and popularized the phrase "The New Normal" in
the aftermath of the subprime mortgage crisis in 2009. "The new
normal" as a standalone phrase has a long history dating to the
First World War
First World War era and then seeing a new resurgence in use in
9/11 era. More recently,
PIMCO introduced "The New
Neutral" thesis to characterize a period of lower but stable economic
growth, and interest rates to remain lower than historically for a
longer period of time.
In April 2015,
PIMCO announced the hire of former Federal Reserve
Ben Bernanke as a Senior Advisor, following in the
footsteps of predecessor Federal Reserve Chairman, Alan Greenspan.
4 External links
Emmanuel Roman as CEO effective 1 November 2016,
succeeding Douglas M. Hodge, and the firm's President is Jay
Jacobs. Dan Ivascyn, Group
Chief Investment Officer (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.
The firm was founded in 1971, launching with $12 million of assets.
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, a large global financial services
company based in Munich, Germany, but the firm continues to operate as
an autonomous subsidiary of Allianz.
On 26 September 2014, it was announced that Bill Gross, Co-founder and
Chief Investment Officer (dubbed the "Bond King" in the
investment arena), was stepping down to join Janus Capital Group.
^ a b c d Grind, Kirsten; Calia, Michael (26 September 2014). "Bill
Gross Leaves Pimco for Janus". Markets. The Wall Street
Journal. (subscription required)
^ a b "Our Firm". PIMCO. Retrieved 9 September 2016.
^ Gittelsohn, John (20 July 2016). "Pimco Names Man Group's Chief
Emmanuel Roman as Its New CEO". Bloomberg News.
^ Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow
to $9.5 Billion". Bloomberg Businessweek. United States.
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