December 05, 2011 12:55 ET

PIMCO Holds Annual Share the Harvest Event

More Than 600 Volunteers in Newport Beach and New York Pack Food for 6,000 Needy Families

NEWPORT BEACH, CA--(Marketwire - Dec 5, 2011) - On Saturday December 3, more than 450 PIMCO employee volunteers, friends and family members gathered at the firm's Newport Beach headquarters to pack 5,000 boxes with a holiday meal for needy families in Southern California.

The annual Share the Harvest is an event sponsored by PIMCO Partners, PIMCO's employee volunteer and community outreach program. It's the fourth time PIMCO has held Share the Harvest in Newport Beach. All 5,000 boxes of food packed by PIMCO volunteers will be donated to the Orange County Food Bank and its many member agencies.

This follows a similar event in New York where more than 150 volunteers packed 1,000 food boxes. The boxes were distributed to ten of HELP USA's shelters in the New York metro area and Newark.

"The Share the Harvest event is an important and wonderful annual tradition for us, both in Newport Beach and in New York. Each year the number of PIMCO volunteers and donations grows, as does the beneficial impact on our local communities that we care a lot about," said Mohamed A. El-Erian, Chief Executive Officer and Co-Chief Investment Officer of PIMCO and President of The PIMCO Foundation.

Mr. El-Erian added: "In helping those that are less privileged than us, we are delighted to partner with the OC Food Bank. We attach enormous importance to our partnership, especially at a time when our community is experiencing an increase in the number of families and individuals falling on hard times."

"Requests for emergency food assistance have doubled during the economic downturn and many donors who are anxious about the economy may be curtailing their charitable giving," said Mark Lowry, Director of the Orange County Food Bank. "PIMCO had responded boldly to the growing needs of the community by more than doubling the number of people who will be helped by their holiday-time Share the Harvest campaign. Five thousand vulnerable families will receive the gift of food this season, thanks to the leadership and generosity of PIMCO, their employees, and the PIMCO Foundation," said Lowry.

HELP USA's Chairman of the Board Maria Cuomo Cole said, "As HELP USA serves homeless families, veterans and survivors of domestic abuse, we are especially thankful to partners like PIMCO who step up to make a difference."

"The Share the Harvest Partnership with PIMCO is important because it reaches the most needy of homeless families in our community. I witnessed firsthand the team spirit and goodwill of the PIMCO community as they prepared the meals for our residents," said Lawrence Cann, Director of Development and External Affairs for HELP USA.

About PIMCO Partners
PIMCO Partners is PIMCO's employee volunteer group. PIMCO Partners is dedicated to helping build, maintain and enhance the communities in which employees and their families live and work.

About the OC Food Bank
The OC Food Bank is a program of the Community Action Partnership of Orange County, a private charity that offers comprehensive services benefiting vulnerable Orange County residents.

Founded in 1986 and recognized by the United States Congress as a national model, HELP USA is one of the country's largest builders and operators of service-enriched transitional and low-income permanent housing. HELP USA's mission is to provide housing and the supportive services necessary for the homeless and people in need to become and remain self-reliant.

PIMCO is a leading global investment management firm, with offices in 10 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz S.E., a leading global diversified financial services provider.

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.

Contact Information

  • Contact:
    Mark Porterfield
    PIMCO - Media Relations
    949-720-NEWS (6397)