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Sunday, 28 September 2014

Pimco moving away from Bill Gross model, CEO says

Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company (PIMCO), speaks at the Morningstar Investment Conference in Chicago By Jennifer Ablan (Reuters) - Pimco CEO Doug Hodge said on Sunday that Pimco is moving away from a founder-led model and that the Newport Beach, California-based firm's flagship fund previously run by co-founder Bill Gross "does not define Pimco." "Recognize that we are a $2 trillion asset manager but over the last five years, we have expanded to far more parts of the fixed income and into other asset classes and other geographies, so the Pimco Total Return Fund does not define Pimco," Hodge said. "It's an important flagship product of this firm but it is not our only strategy. ...








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