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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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]