NEWPORT BEACH, CA--(Marketwire - October 29, 2008) - PIMCO, a leading investment management firm, has launched the PIMCO Global Multi-Asset Fund ("GMAF"), the firm's new asset allocation mutual fund. GMAF is managed by a team led by Co-Chief Investment Officer Mohamed A. El-Erian and that also includes Vineer Bhansali, a managing director and head of the portfolio management analytics group, and Curtis Mewbourne, a managing director and generalist portfolio manager.
"Transformations in global economic and financial conditions are challenging traditional asset allocation products," said Mr. El-Erian. "When we began developing this fund early this year, we recognized that ongoing market developments and economic transformations would impact the future set of investor opportunities, and also involve a new and significant configuration of risks. The current financial crisis illustrates this recognition and underscores the need to provide clients with an expanded universe of investment solutions."
"The Global Multi-Asset Fund is designed to tap into PIMCO's complete views across risk exposures and asset classes, both in the U.S. and abroad. It is an important part of the firm's continued evolution as a provider of global investment solutions for clients," Mr. El-Erian added.
Key goals of the GMAF are:
-- To provide a complete "3-in-1" portfolio solution for investors that
features:
1. Appropriate exposure to a mix of key risk factor exposures (betas)
driven by PIMCO's proprietary investment process and analytics
2. Relative value strategies (alpha) that seek to enhance returns across
multiple domestic and international dimensions
3. "Tail risk" hedges that seek to proactively protect against the
adverse impact of shocks, which may periodically occur in the fluid
and evolving global economy
-- To consistently outperform the typical 60/40 stock/bond allocation over
a market cycle
-- To incorporate PIMCO's forward-looking assessment of global economic and
financial conditions
In U.S. markets, the ticker symbol for the PIMCO Global Multi-Asset Fund is PGAIX. Global versions of the strategy will be available in the near future.
About PIMCO
PIMCO, founded in 1971, is a global investment management firm serving a full range of institutional and retail investors worldwide. Our reputation as one of the world's top managers rests on our combination of a long-term investment approach, superior client servicing and cutting edge technology. With offices in nine countries in North America, Europe, Asia and Australia, we manage investments across a full spectrum of global financial markets. Our success is built on our goal of consistently providing attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.
Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund's prospectus, which may be obtained by contacting your PIMCO representative. Please read the prospectus carefully before you invest or send money.
Past performance is not a guarantee or a reliable indicator of future results. Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. The cost of investing in the Fund will generally be higher than the cost of investing in a fund that invests directly in individual stocks and bonds. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not insure against loss.
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 may 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's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
This press release has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Pacific Investment Management Company LLC. ©2008, PIMCO.
PIMCO Funds are distributed by Allianz Global Investors Distributors LLC, 840 Newport Center Drive, Newport Beach, CA 92660
Contact Information: PRESS RELEASE Contact: Steven Vames PIMCO Media Relations 212-739-3598