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Home > Financial Services > Mutual Funds > PIMCO
PIMCO
PIMCO is a one of the largest specialty fixed income managers in the world, with more than 590 billion dollars in assets under management and more than 800 employees in offices in Newport Beach, New York, Singapore, Tokyo, London, Sydney, Munich, Toronto and Hong Kong.
PIMCO's mission is to Enrich and Preserve client assets and to provide clients with the Highest Quality Investment Management Service. They are dedicated to their clients. From their founding in 1971, PIMCO's focus has been their clients. PIMCO dedicates a team of investment professionals to client servicing, allowing portfolio managers to focus on returns. They manage assets for a wide and diverse client base, ranging from central banks to multinational corporations to individual investors. For their institutional clients, they offer privately managed separate accounts as well as mutual funds. They are a trendsetter in the fixed income industry, and have been throughout their 35-years history. They were at the forefront in sectors like mortgage-backed securities and emerging market bonds.
The corporate bond market has grown steadily over the years, attracting investors seeking higher yields than those offered by government bonds and other sectors of the global bond market. According to Merrill Lynch, corporate bonds accounted for about 29 percent of bonds outstanding in the world at the end of 2003, which is about the same percentage of the market as government bonds.
High yield bonds typically offer higher interest rates than Treasuries or high-grade corporates and hold the potential for capital appreciation in the event of a rating upgrade, an economic upturn or improved performance at the issuing company.
Municipal bonds, which are issued by U.S. state and local governments are unique among fixed-income asset classes. First most bonds offer tax-exempt income and second individuals rather than institutions, make up the largest investor base. In part because of these characteristics, also tend to have certain performance attributes including higher after-tax returns than other fixed income securities of comparable maturity and credit quality and low volatility relative to other fixed-income sectors.
Municipal bonds are debt securities issued by or on behalf of U.S. state and local governments their agencies or authorities. These issuers sell bonds to fund either their general operations or specific projects, such as the construction of bridges or highways. For instance a local water authority or school district might issue municipal bonds to help fund an expansion.
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