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Stories of Interest
- North Korean caught secretly mining bitcoin rival
- IPO Timelines Cut by 80% After SEC's Private Filing Decision
- How the Carried Interest Break Survived the Tax Bill
- FINRA: The Neutral Corner
- Coinbasex Says Buying and Selling Temporarily Disabled Amid Price Rout
- Bitcoin plunges by more than a third in a single day
- Goldman Is Setting Up a Cryptocurrency Trading Desk
- Jefferies Lets Employees Choose When to Receive Their Bonuses
- UBS Told to Pay $903K After Losing Retaliation Verdict
- BEWARE: Long Island Iced Tea Shares Soar After Changing Name to Long Blockchain
- Gary Cohn’s Last Laugh: Cashing Out on Trump’s Tax Plan
- E*Trade Lets Customers Trade in CBOE Bitcoin Futures
- Swiss Find Serious Shortcomings at JPMorgan in 1MDB Case
- Washington-based Investment Adviser and His Business Partner Charged in Multi-Million Dollar Scheme
- FINRA Board of Governors Meeting
- Cryptocurrency Market Now Doing Same Daily Volume as the NYSE
- Jailed Barclays Trader Must Pay $400,000 From Libor Profits
- Trump Asks ‘How’s Your 401(k)?’ But Most Voters Don’t Have One
- A Bitcoin Hedge Fund’s Return: 25,004% (That Wasn’t a Typo)
- Madoff Victims Near Full Recovery of Principal With Payout
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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]