PIMCO

Pacific Investment Management Company
Type Subsidiary
Industry Financial Services
Founded 1971
Headquarters Newport Beach, California
Key people William H. Gross, Co-Founder, Mohamed A. El-Erian, CEO
Products Investment management
Revenue Undisclosed to public
Employees 1200+
Parent Allianz
Website www.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO), is a global investment management and solutions firm headquartered in Newport Beach, California. PIMCO is led by co-founder William H. Gross,[1][2] (usually known as Bill Gross) who serves as Co-Chief Investment Officer, and Mohamed A. El-Erian, the other Co-CIO as well as the firm's CEO.[3] It is the world’s largest bond investor.[4]

Gross manages the Total Return Fund, the world’s largest mutual fund with assets of $242.7 billion as of June 30, 2011.[5] He co-founded the firm 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,[6] a large global financial services company based in Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.

PIMCO oversees investments totaling more than $1 trillion 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

  1. ^ "Morningstar Names Bruce Berkowitz, David Herro, and Bill Gross Fund Managers of the Decade" (Press release). Morningstar, Inc.. January 12, 2010. http://corporate.morningstar.com/us/asp/subject.aspx?xmlfile=174.xml&filter=PR4459. Retrieved May 12, 2011. 
  2. ^ Machan, Dyan (July 14, 2009). "The World's Greatest Investors: Gross". SmartMoney. The Wall Street Journal. http://www.smartmoney.com/invest/funds/the-worlds-greatest-investors-bill-gross/. Retrieved May 12, 2011. 
  3. ^ "PIMCO Announces Mohamed El-Erian to Rejoin Firm as Co-CEO, Co-CIO" (Press release). PIMCO. September 11, 2007. http://www.pimco.com/EN/PressReleases/Pages/PressRelease9112007.aspx. Retrieved May 12, 2011. 
  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. ^ "PIMCO Total Return Fund Overview". Money: Mutual Funds. U.S. News & World Report. http://money.usnews.com/funds/pimco-total-return-fund/pttax. Retrieved May 13, 2011. 
  6. ^ "Allianz completes acquisition of PIMCO Advisors" (Press release). Allianz. May 5, 2000. https://www.allianz.com/en/press/news/financial_news/stakes_and_investments/news182.html. Retrieved May 13, 2011. 

External links