AGAIN: PIMCO Losing Mandates and People
At one point in March 2013, Newport Beach-based Pacific Investment Management Co. (PIMCO) reached US$ 2.04 trillion in assets under management – nearing proximity to 2.5 times the size of Norway’s sovereign wealth fund. PIMCO, the world’s biggest bond asset manager, lost a number of key investment and sales executives in the past few months. Pension funds, sovereign wealth funds and other institutional investors have been vocal on the exodus of investment professionals and lackluster performance in a number of PIMCO funds. Brought back by former head honco Bill Gross, PIMCO’s Chief Economist Paul McCulley is leaving the asset manager for the third time at the end of February. Heading East, Ana Dhoraisingam who was PIMCO’s Southeast Asia CEO and business development executive left for rival Pinebridge Investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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