PIMCO UK Bond Funds Under Review by Morningstar Analysts

FUND RESEARCH UPDATE: Morningstar analysts are reviewing their ratings on PIMCO funds follwing Gross' departure

Ruli Viljoen 29 September, 2014 | 1:31PM
Facebook Twitter LinkedIn

Following the announcement of chief investment officer Bill Gross' immediate departure from PIMCO to Janus Capital, we have placed the funds' Morningstar OBSR Analyst Ratings™ under review.

PIMCO Select Global Bond, PIMCO Select UK Corporate Bond and PIMCO Select UK Income Bond previously held Silver, Bronze and Bronze ratings respectively.

Gross' key role in shaping PIMCO's bond strategy and in the firm's management has led us to review all of our PIMCO fund ratings. Following CEO/co-CIO Mohamed El-Erian's departure in March, PIMCO named six deputy CIOs in order to make a more orderly plan of succession. They are Andrew Balls, Dan Ivascyn, Mihir Worah, Mark Kiesel, Scott Mather and Virginie Maisonneuve. These six will play key roles in the wake of Gross' departure.

We will meet with PIMCO management in the coming weeks to assess the impact of this change on the funds.

See the latest Morningstar OBSR fund rating news here.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

About Author

Ruli Viljoen

Ruli Viljoen  is Head of Manager Selection, Morningstar UK

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures