NEWPORT BEACH, Calif., Jan. 14, 2005 (PRIMEZONE) -- Having seen the devastation caused by the earthquake and tsunami in Southeast Asia, employees of Newport Beach-based PIMCO collected $269,195 for the relief effort.
"As a group, my colleagues and I were overcome by the horrifyingly chilling effects of the earthquake and tsunami," said PIMCO employee Ellen Fowler. "We decided we should do our part to assist in the relief efforts and began collecting donations from the employees. It makes me proud to be part of a company like PIMCO, where the employees truly feel the need to reach out and help those who have suffered."
"The money will be donated to the American Red Cross International Relief Fund for the earthquake and tsunami relief effort," said PIMCO CEO, Bill Thompson. "Once the magnitude of this disaster was understood, employees from around the world started ringing my phone and inundating me with emails asking how PIMCO was going to help."
Each year, PIMCO donates approximately $500,000 to local, statewide, and national causes through employee-matching programs and the PIMCO Foundation.
About PIMCO
With more than $415 billion in fixed-income assets under management in the US, PIMCO is one of the world's leading fixed-income fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $1 trillion in assets and represented in 70 countries around the globe.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.