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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 is ready to move forward from a "founder-led" model in the wake of the abrupt exit of Bill Gross from the fund management company, CEO Doug Hodge said Sunday in a phone interview. Hodge said the $222 billion Total Return Fund, run by Pimco co-founder Gross, "does not define" the company. Pimco's new chief investment officer, Dan Ivascyn, said in a phone interview that though he was initially reluctant to take over Gross' job, he's now ready to take on additional roles. (Reporting By Jennifer Ablan, editing by John Pickering)








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