SOURCE: PIMCO

PIMCO

April 14, 2010 11:00 ET

PIMCO Launches PIMCO EqS Pathfinder Fund™, the First Strategy in Its New Equity Series

'Global Deep Value' Strategy Led by Anne Gudefin and Charles Lahr is Another Step in Firm's Continuing Evolution

NEWPORT BEACH, CA--(Marketwire - April 14, 2010) -  PIMCO, a leading global investment management firm, is launching the PIMCO EqS Pathfinder Fund, a "go anywhere," global, deep value equity strategy.

PIMCO EqS Pathfinder is the first actively managed equity strategy in the new PIMCO Equity Series (EqS). It is managed by Anne Gudefin and Charles Lahr, Executive Vice Presidents and Portfolio Managers based in London and New York, respectively. Mr. Lahr joined PIMCO in December 2009 and Ms. Gudefin joined in January of this year.

"We have established the PIMCO Equity Series and created the PIMCO EqS Pathfinder Fund as part of the firm's continuing evolution as a provider of global investment solutions to clients across the world," said Neel Kashkari, Managing Director and Head of New Investment Initiatives. "PIMCO's time-tested standards of excellence, global investment outlook, intellectual capital and deep resources are guiding our approach to actively managed equities as we continue to build out our suite of equities strategies."

Ms. Gudefin and Mr. Lahr are highly regarded global deep value investors, bringing to PIMCO a combined 36 years of experience in a discipline that aims to identify securities priced at a significant discount relative to their intrinsic value.

"The PIMCO EqS Pathfinder strategy will apply our deep value equity investing expertise and be complemented by PIMCO's extensive research and investment management capabilities and global platform," said Ms. Gudefin. "Our robust approach to security analysis, stock selection and portfolio construction will benefit from firm-wide insights into the factors that drive economies, liquidity and markets, as well as the firm's highly regarded capabilities in credit research and risk management across the capital structure."

Added Mr. Lahr: "Global deep value is designed to be a compelling strategy in any market environment, including today's world, where shifting growth drivers, resetting economies and the gap between short-term exuberance and long-term realities can obscure underlying value in certain securities. With PIMCO EqS Pathfinder, we plan to employ our resources and know-how to identify undervalued stocks as well as merger arbitrage and distressed debt opportunities wherever they exist."

Potential benefits of PIMCO EqS Pathfinder include:

  • A truly global approach to equity investing, with "bottom-up" stock analysis complemented by PIMCO's global economic outlook and extensive research resources
  • Time-tested deep value philosophy and process
  • Primary focus on global equity securities, supplemented by value oriented distressed debt and merger arbitrage and tactical strategies such as hedging
  • Potential outperformance and lower volatility relative to broad global equity indexes
  • Risk management that aims to mitigate downside potential in all market environments

Institutional shares of the PIMCO EqS Pathfinder Fund will trade under the ticker symbol (PTHWX). Additional tickers include "D" shares (PTHDX), "A" shares (PATHX), "C" shares (PTHCX), "R" shares (PTHRX), "P" shares (PTHPX) and Administrative shares (PTHNX).

About PIMCO
PIMCO, founded in 1971, is a global asset management firm that manages investments for an array of clients, including retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Our clients include state, municipal and union pension and retirement plans whose beneficiaries come from all walks of life, from educators to healthcare workers to public safety employees. We have a substantial individual investor client base, and work in partnership with financial intermediaries such as Registered Investment Advisors, broker/dealers, trust banks and insurance companies. We are also advisors and asset managers to central banks, corporations, universities, foundations and endowments. With offices in North America, Europe, Asia and Australia, we manage investments across a full spectrum of global financial markets. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund's prospectus and summary prospectus, if available, which may be obtained by contacting your PIMCO representative. Please read them carefully before you invest or send money. 

Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Investments in value securities involve the risk that the market's value assessment may differ from the manager and the performance of the securities may decline. Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies. Investing in distressed companies (both debt and equity) is speculative and may be subject to greater levels of credit, issuer and liquidity risks, and the repayment of default obligations contains significant uncertainties; such companies may be engaged in restructurings or bankruptcy proceedings. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Investments in companies engaged in mergers, reorganizations or liquidations may involve special risks as pending deals may not be completed on time or on favorable terms. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss.

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.

This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Pacific Investment Management Company LLC. ©2010, PIMCO.

PIMCO funds are distributed by Allianz Global Investors Distributors LLC, 840 Newport Center Drive, Newport Beach, CA 92660, (800) 927-4648.

Contact Information

  • Contact:
    Steven Vames
    PIMCO - Media Relations
    212-739-3598