Pacific Investment Management
Encyclopedia
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, (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. It is the world’s largest bond investor.
Gross manages the Total Return Fund, the world’s largest mutual fund
with assets of $242.7 billion as of June 30, 2011. 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, 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.
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
and solutions firm headquartered in Newport Beach, California
Newport Beach, California
Newport Beach, incorporated in 1906, is a city in Orange County, California, south of downtown Santa Ana. The population was 85,186 at the 2010 census.The city's median family income and property values consistently place high in national rankings...
. PIMCO is led by co-founder William H. Gross, (usually known as Bill Gross) who serves as Co-Chief Investment Officer, and Mohamed A. El-Erian
Mohamed A. El-Erian
Dr. Mohamed A. El-Erian is the CEO and co-CIO of PIMCO, a global investment management firm and one of the world’s largest bond investors with approximately US$1.34 trillion of assets under management as of June 30, 2011....
, the other Co-CIO as well as the firm's CEO. It is the world’s largest bond investor.
Gross manages the Total Return Fund, the world’s largest mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...
with assets of $242.7 billion as of June 30, 2011. 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, 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.