STAMFORD, Conn., March 29, 1999 (PRIMEZONE) -- PIMCO Advisors Holdings L.P. (NYSE: PA) today announced that Chris Burnham has been named Vice Chairman of PIMCO Funds Distributors LLC with responsibilities for international mutual fund distribution. The PIMCO Funds mutual fund complex encompasses 51 equity and fixed-income funds with more than $46.7 billion in assets under management.
Burnham was previously Chief Executive Officer of Columbus Circle Investors, an investment unit of PIMCO Advisors LP. Don Chiboucas, Columbus Circle's Chief Investment Officer, has temporarily assumed Mr. Burnham's duties.
"We are pleased to have Chris joining us as we continue to expand our global business," said Steve Treadway, Chairman of PIMCO Funds Distributors LLC. "Chris will play a vital role as we increase the distribution of our offshore funds through our Dublin mutual fund complex."
PIMCO Advisors is one of the largest investment management companies in the United States with more than $244 billion of assets under management as of December 31, 1998. Its investment advisor subsidiaries, led by Pacific Investment Management and Oppenheimer Capital, are widely recognized for providing consistent performance and high quality service to more than 1,600 institutional clients worldwide, including nearly one-third the nation's largest 200 corporations. In addition, PIMCO Advisors manages a family of 51 stock and bond mutual funds available to both retail and institutional investors.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO Advisors L.P.'s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. PIMCO Advisors Holdings L.P. cautions readers to carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO Advisors Holdings L.P. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.