Items Tagged with 'Pacific Investment Management'


  • Goldman Sachs, PIMCO Exit Federal Reserve's MBS-Purchase Plan

    The Federal Reserve Bank of New York said Monday it "streamlined" the list of external investment managers in the agency mortgage-backed securities (MBS) purchase program from four to two. The Fed shed investment managers Goldman Sachs Asset Management and Pacific Investment Management Co. (PIMCO) from the list.
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  • PIMCO Brings on ABS Veteran from Credit Suisse

    PIMCO Advisory, a division within global investment management firm PIMCO, hired an asset-backed securities (ABS) research veteran to work in its structured finance division. Rod Dubitsky joins PIMCO Advisory -- which analyzes, designs and manages complex asset-liability solutions -- as an executive vice president and global structured finance specialist.
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  • We Have a Winner, and His Name is Bill Gross

    Say what you will about the man, but PIMCO fund manager Bill Gross has clearly proven adept at getting his way throughout this credit crisis -- and investors in his funds are reaping the rewards. The UK Telegraph reported earlier this week that the U.S. Treasury's move to place Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] into conservatorship netted Gross and his fund $1.7 billion in profit.
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  • PIMCO's Gross Bets on Agency Mortgage Debt -- and Wins

    PIMCO's Bill Gross, manager of the world's largest bond fund, is betting big on mortgages. The Financial Times reported last last week that Gross had shifted more than 60 percent of the $130 billion PIMCO Total Return fund he manages into agency-backed mortgage debt during the first quarter, a move that has put the PIMCO fund's returns ahead of 99 percent of its peers. The fund has returned 12.6 percent over the past 12 months, according to Morningstar rankings, and 3.8 percent so far this year.
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  • Pimco's Gross Warns on 'Shadow Banking System'

    Investment grade and junk bond defaults may hit $500 billion of credit default swaps, triggering losses of $250 billion, Pacific Investment Management Co.'s Bill Gross said in commentary posted on the company's Web site today. Gross characterized much of modern finance as "shadow banking system" that "dodges the reserve requirements of traditional institutions and promotes a chain letter, pyramid scheme of leverage, based in many cases on no reserve cushion whatsoever."
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