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Business as usual, says Pimco Australia

By Scott Hodder
 — 1 minute read

Pimco will not change its investment strategy in the wake of Bill Gross' departure, says head of portfolio management in Australia Robert Mead.

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>“I don’t expect any changes,” Mr Mead said. “The framework for the Asia-Pacific Portfolio Committee, which has proven extremely important for developing our Australian investment strategy, remains the same.”

Mr Mead’s comments follow on from those of Pimco chief executive Douglas Hodge who acknowledged Mr Gross’ role in establishing Pimco’s current investment structure, but said despite his resignation the company will remain “fundamentally unchanged”

Mr Mead said the company’s portfolio management team will not change either, with the team continuing to operate as it has in the past.

“The Australian portfolio management team continues to invest for our clients as we always have: the day-to-day responsibilities for the Australian team remain the same, and the reporting lines for me and for the Australian portfolio management team are unchanged,” he said.

“Also, the Asia-Pacific Portfolio Committee retains its structure, with Adam Bowe as the current chair, and we will continue to evolve the membership via the addition of both permanent and rotating numbers,” he said.

Pimco said that under the new leadership structure, chief investment officer Andrew Balls will oversee global portfolio management and, specifically, he will have oversight of the European and Asian portfolio management desks.

 

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Business as usual, says Pimco Australia
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