Bill Gross Sees the Importance of Twitter
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Monday, September 20, 2010

Bill Gross Sees the Importance of Twitter

John Waggoner takes a look at mutual fund firms' social media efforts in his article on USA Today.

Bill Gross
"Bill Gross came to me and asked if I knew what Twitter and Facebook were," Pimco's media relations head Mark Porterfield narrates to Waggoner. "I said yes, and he said, 'The folks that use these platforms are our current and future clients and they are comfortable with it so we need to learn how to communicate with them today rather than 10 years from now.'"

Pimco [see profile] has about 5,000 Twitter followers. Fidelity [see profile], which started using Twitter last October, has 3,000. USAA [see profile], for its part, has 10,000.

Other fund firms on Twitter include Putnam Investments [see profile] and Schwab [see profile].

Interestingly, T. Rowe Price [see profile], which has made an investment in Twitter, currently does not have a Twitter account. Neither is the firm on Facebook. Capital Management and Research [see profile] also among the firms that are not in either of the two social media platforms.

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