NEWPORT BEACH, CA--(Marketwire - March 22, 2010) - PIMCO, a leading global investment management firm, announced today that it has hired Gregory Hazlett and Andrew Hoffmann as Senior Vice Presidents and Strategy Heads in the firm's newly established Fund of Funds group. Both of these new positions are based in the firm's Newport Beach, California office.
"Gregg and Andy have deep experience and knowledge in real asset and equity investing, and their addition to our team will further strengthen PIMCO's fund of funds and asset allocation business," said Mark Taborsky, Executive Vice President, Fund of Funds Portfolio Manager and head of Asset Allocation Product Management for PIMCO.
PIMCO's approach to asset allocation involves utilizing the firm's long-term (secular) and short-term (cyclical) investment views and proprietary analytics to create portfolios for clients that are diversified and well-positioned across key global risk factors and a broad spectrum of asset classes. Moreover, in PIMCO's upcoming fund of funds offerings, allocations in this risk factor based asset allocation framework will be made through both public and private investment vehicles across multiple asset classes combined with a tail risk hedging strategy for the intent of creating attractive risk adjusted returns. PIMCO will allocate to internal managers, best-in-class external managers, direct and co-investments, and financial overlays and hedges in the management of its Funds of Funds.
Mr. Hoffmann has more than 20 years of investment experience and previously was with Brookfield Asset Management where he was involved in the launch of a wide range of real asset products involving real estate, infrastructure, timber, and agriculture. Prior to working at Brookfield, he was the portfolio manager for Real Assets for an ultra-high net worth investment firm based in Palo Alto, CA. Earlier in his career, Mr. Hoffmann was an investment banker with JP Morgan and Merrill Lynch, where he focused on the energy and utilities sectors in Asia and Europe. He earned his undergraduate degree in economics and political science from the University of Wisconsin-Madison.
Mr. Hazlett has more than 23 years of investment experience and previously served as the Chief Investment Officer of the Children's Hospital of Philadelphia. Prior to that role, Mr. Hazlett was Managing Director of Global Equities at the Howard Hughes Medical Institute. Earlier in his career, Mr. Hazlett was a Manager of Investment Research at Cambridge Associates. He earned his undergraduate degree in economics from the University of Michigan-Ann Arbor.
About PIMCO
PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm serves an array of clients and manages retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Our clients include state, municipal, union and private sector pension and retirement plans, educational, foundations, endowments, philanthropic and healthcare institutions, individual and investment saving accounts, public sector reserve management and other public entities in North and South America, Europe, the Middle East and Asia.
PIMCO has more than 1,200 employees. In addition to its headquarters in Newport Beach, California, the firm has offices in Amsterdam, Hong Kong, London, Munich, New York City, Singapore, Sydney, Tokyo, Toronto and Zurich.
PIMCO is owned by Allianz S.E., a global insurance conglomerate.
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 and summary prospectus, if available, which may be obtained by contacting your PIMCO representative. Please read them carefully before you invest or send money.
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 statement.
All investments contain risk and may lose value. 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. ©2010, PIMCO.
PIMCO Funds are distributed by Allianz Global Investors Distributors LLC, 840 Newport Center Drive, Newport Beach, CA 92660, (800) 927-4648.
Contact Information:
Contact:
Mark Porterfield
PIMCO - Media Relations
949-720-NEWS (6397)