PIMCO Launches Global Multi-Alpha Strategy

Diversified LIBOR-Plus Solution Expressing PIMCO's Views Across Asset Classes


TOKYO--(Marketwire - November 19, 2008) - PIMCO, a leading investment management firm, has launched the Global Multi-Alpha (GMA) strategy. The strategy expresses PIMCO's complete views across all asset classes and risk factors globally. These views are combined within a diversified LIBOR-plus portfolio. GMA is managed by a team led by Co-Chief Investment Officer Mohamed A. El-Erian which also includes Vineer Bhansali, a managing director and head of the portfolio management analytics group, and Curtis Mewbourne, a managing director and generalist portfolio manager.

"Transformations in global economic and financial conditions are challenging traditional investment products," said Mr. El-Erian. "When we began developing this strategy early this year, we recognised that ongoing market developments and economic transformations would impact the future set of investor opportunities, and also involve a new and significant configuration of risks. The current financial crisis illustrates this recognition and underscores the need to provide clients with an expanded universe of investment solutions."

Key goals of GMA are:

--  To provide a complete "3-in-1" portfolio solution for investors
    that features:
    1.  Appropriate exposure to a mix of key risk factor
        exposures (betas) driven by PIMCO's investment process
        and analytics
    2.  Relative value strategies (alpha) that seek to
        enhance returns across multiple domestic and international
        dimensions
    3.  "Tail risk" hedges that seek to proactively protect against
        the adverse impact of shocks, which may occur in the fluid
        and evolving global economy
--  To offer an absolute return oriented allocation within a broader
    portfolio
--  To incorporate PIMCO's forward-looking assessment of global
    economic activity and financial conditions

"We know from experience that investors across Asia have a wide variety of risk and return objectives," said Douglas Hodge, Managing Director of PIMCO, Asia Pacific. "Currency can be a critical dimension in investment decisions. This strategy's '3-in-1' approach, seeking enhanced returns while providing tail-risk hedges, can be tailored to those unique preferences of our clients in the Asia-Pacific region."

"The Global Multi-Alpha Strategy is designed to tap into PIMCO's complete views across risk exposures and asset classes globally. It is an important part of the firm's continued evolution as a provider of global investment solutions for clients," Mr. El-Erian added.

About PIMCO

PIMCO, founded in 1971, is a global investment management firm serving institutional and retail investors worldwide, with offices in London, Amsterdam, Munich, Toronto, New York, Newport Beach, Singapore, Sydney, Hong Kong and Tokyo. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group.

Over the last twelve months, PIMCO has won a number of prestigious awards including Fixed Income Provider of the Year at the Global Pensions Awards and two Awards for Investment Excellence by Global Investor, one in the Global and one in the US Fixed Income category. Co-CIO and founder Bill Gross and his team were awarded the Fixed Income Manager of the Year award by Morningstar for the third time in a decade, the first asset manager to achieve this. In October 2008, Co-CEO and Co-CIO Mohamed El-Erian's book, "When Markets Collide," won the 2008 Financial Times and Goldman Sachs Business Book of the Year Award.

About PIMCO Asia:

PIMCO Asia Limited and PIMCO Asia Pte Ltd are part of the PIMCO Group. With more than $64 billion of assets managed or serviced out of the Asia-Pacific region, and more than $790 billion worldwide, PIMCO is one of the world's leading investment management firms.

Past performance is not a guarantee or a reliable indicator of future results. Diversification does not ensure against losses.

Hong Kong (1)
PIMCO Asia Limited
24th Floor
Units 2403 & 2405
Nine Queen's Road Central
Hong Kong
852-3650-7700

Singapore (2)
PIMCO Asia Pte Ltd
501 Orchard Road #08-03
Wheelock Place
Singapore 238880
65 6491-8000
Registration No. 199804652K

(1) Licensed by the Securities and Futures Commission for Types 1, 4 and 9 regulated activities under the Securities and Futures Ordinance ("SFO"). The services and products provided by PIMCO Asia Limited are available only to professional investors as defined in the SFO. The asset management services and investment products are not available to persons where provision of such services and products is unauthorised.

(2) Regulated by the Monetary Authority of Singapore as a holder of a capital markets services license for fund management, and an exempt financial adviser. The services and products provided by PIMCO Asia Pte Ltd are available only to accredited investors, expert investors and institutional investors as defined in the Securities and Futures Act. The investment management services and products are not available to persons where provision of such services and products is unauthorised.

For further information on PIMCO please visit www.pimco.com

Contact Information: For more information please contact: PIMCO Japan Asako Tanabe +81 3 5777 8534