Pacific Investment Management
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The Pacific Investment Management Company, LLC (PIMCO), is an investment company and runs the Total Return fund, the world’s largest bond fund. Founded in 1971 in Newport Beach, California, with just US$12 million in assets under management at the time, it is now owned by Allianz, a global insurance company based in Munich, Germany.
Mohamed A. El-Erian is PIMCO's chief executive officer and co-chief investment officer along with co-founder William “Bill” Gross. Gross manages PIMCO's Total Return Fund, which has over $150 billion under management. As of March 31, 2009, PIMCO in total had over US$756 billion in assets under management and more than 1,200 employees.[1]
On May 16, 2007, former Federal Reserve Chairman Alan Greenspan was hired as a special consultant by PIMCO and he will participate in PIMCO’s quarterly economic forums and speak privately with the bond manager about Fed interest rate policy.[2]
[edit] References
- ^ "About PIMCO". http://www.pimco.com/LeftNav/AboutPIMCO/Default.htm. Retrieved on 2008-10-16.
- ^ Associated Press (2007-05-16). "Pimco hires Alan Greenspan as consultant". MSNBC.com (MSNBC). http://www.msnbc.msn.com/id/18703142/. Retrieved on 2007-05-27.
[edit] External links
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