Pacific Investment Management

Pacific Investment Management

The Pacific Investment Management Company, LLC (PIMCO) is an investment company and runs the Total Return fund, the world's largest bond fund. Founded in 1971 in Newport Beach, California with just $12 million in assets under management at the time, it is now owned by Allianz, a global insurance company based in Munich, Germany.

Both Bill Gross and Mohamed A. El-Erian are co-chief executive officers and co-chief investment officers of PIMCO's Total Return Fund. As of December 31, 2007, PIMCO in total had over $746.3 billion in assets under management and more than 900 employees.

On May 16th 2007, former Federal Reserve Chairman Alan Greenspan was hired as a special consultant by PIMCO and he will participate in Pimco’s quarterly economic forums and speak privately with the bond manager about Fed interest rate policy. [cite news |authorlink=Associated Press |author=Associated Press |title=Pimco hires Alan Greenspan as consultant |url=http://www.msnbc.msn.com/id/18703142/ |work=MSNBC.com |publisher=MSNBC |date=2007-05-16 |accessdate=2007-05-27]

References

External links

* [http://www.pimco.com Company home page]
* [http://biz.yahoo.com/ic/41/41978.html Yahoo! - Pacific Investment Management Company LLC Company Profile]


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