Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pimco Hiring to Continue ... Allianz Indian JV Delayed Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 2, 2010

Pimco Hiring to Continue ... Allianz Indian JV Delayed

News summary by MFWire's editors

Pimco's parent has given it the green light to make more hires. Meanwhile, the German-based asset manager is also seeing delays with its Indian-focused joint venture. Speaking at the Fund Forum in Monaco on Thursday, Allianz Global Investors CEO Joachim Faber told attendees that Allianz, and specifically Pimco, will this year repeat the hiring surge they saw last year.

Reuters reported Faber's comments.

The head of the German insurer explained that strong flows into fixed income products are driving the hiring both this year and last, when the insurer added 100 people, mostly at Pimco. Interestingly, those new hires were not the result of Pimco's push into equity products, but rather a buildout to meet demand from fixed income investors.

"The PIMCO business is growing very strongly so it has had the most people added," Faber told Reuters. He specifically pointed to the firm's relatively new unconstrained and absolute return products.

Faber also confided that AGI is still awaiting approval from Indian regulators to launch its joint venture in that country with Bajaj Group. Earlier this year he told the news service the JV would launch by the end of the year. That opening may now be pushed into 2011.

"This unresolved situation is giving us a lot to think about because it looks like the measures introduced for the mutual fund market won't be adopted for unit-linked products," Faber told the wire service. 

Edited by: Sean Hanna, Editor in Chief


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use