MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 17, 1999 On the Move at Gabelli, PIMCO Europe Timothy P. O'Brien has joined Gabelli Funds, the mutual funds subsidiary of Gabelli Asset Management Inc. (GBL), to manage a new open-ended utility fund. "We believe the time is ripe to place more emphasis on the overlooked utilities sector which is why we decided to spin-off the new closed-end fund. Obviously, we think that will pay off for investors in an open-end version and Tim is as good as it gets in picking the right stocks, " said Mario Gabelli, chairman of Gabelli Asset Management Inc. and lead portfolio manager. O'Brien, 44, joins Gabelli from Eaton Vance Management, Boston, where he was portfolio manager of the Eaton Vance Utilities Fund. He was also an equity analyst at the firm, specializing in telecoms, utilities and power generation. O'Brien will build from scratch a new open-end fund investing in telecoms, utilities and related businesses using the same 'bottom-up' approach he employed at Eaton Vance. This new fund will be the second utility fund in the firm's portfolio. The closed-end Gabelli Utility Fund will be spun-off later this year from the Gabelli Equity Trust (GAB) with initial funds of approximately $75 million. Pimco Global Advisors (Europe), a division of Pimco Advisors L.P., announced that its London office has appointed Peter Lindgren as a senior vice president effective from July 1, 1999. Lindgren will focus on marketing Pimco's products and services in Europe with particular emphasis on the Nordic Region, Switzerland and Spain. He was previously associated with Gartmore Investment Management in London where he headed up their international business development. Printed from: MFWire.com/story.asp?s=24879 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |