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Entries for February 2014

27
Our Thoughts on Leadership Changes at PIMCO

PIMCO, a $2 trillion bond manager, is the manager of several bond funds we utilize in Savant’s model portfolios (PIMCO Real Return, PIMCO Commodity PLUS, PIMCO Foreign Bond, PIMCO Total Return III, PIMCO Low Duration III). Recently PIMCO announced that their CEO and co-Chief Investment Officer, Mohamed El-Erian, will be leaving the firm, which is a significant change in leadership. The stated reason for El-Erian’s departure is personal. At this time there is no information as to what he will do next, other than he will still sit on the management committee for Allianz, the parent company of PIMCO. The co-founder of PIMCO, Bill Gross, will remain the sole Chief Investment Officer (CIO) and has no plans to retire soon.

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Posted in: Market Commentary
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