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- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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NEWSLETTERS & ALERTS
Bill Gross's Successor at Pimco Reaching Superstar Status
[Photo: Dan Ivascyn discusses sustaining income in challenging markets; on YouTube]
When Bill Gross, the most powerful name in bonds, announced in 2014 that he was leaving Pacific Investment Management Co. (Pimco), the firm he co-founded, Wall Street took a collective breath and fretted about the future of the giant fixed income management company. It’s time to breath normally again – except for several collective gasps at the outstanding numbers that the Pimco Income Fund has been posting.
Bill Gross’s former fund, now run by Pimco CIO Dan Ivascyn, 45, has been posting tremendous returns -like 10.6% for 2016. Demand for is so great for this fund that it’s assets under management (AUM) is over $75 billion – a figure that exceeds the holdings when Bill Gross managed the fund.
Dan Ivascyn’s performance should not necessarily come as a surprise. After all, back in 2014 when he took over for Gross, Ivascyn was described by BusinessInsider as … “ a 45-year-old star fund manager who has been described by colleagues as a "beast." And, in 2013, he was named Fixed-Income Fund Manager of the Year by Morningstar.
Ivascyn has been with PIMCO since 1998. Before that, he worked at Bear Stearns in asset-backed securities. He’s also had stints at T. Rowe Price and Fidelity.
[Click link below for more on Mr. Ivascyn, his fund’s successes, and risks that lie ahead.]
[For video commentaries from Mr. Ivascyn, click here: Pimco Blog]