Growth depends on the productive use of investment and "capitalistic animal spirits," but that is not taking place now, Pimco's Bill Gross said.» Read More
MUNICH, May 7- Union Investment, a major investor in Allianz, blasted the German insurer on Wednesday over its handling of problems at its fund manager Pimco, saying the fund's poor performance was denting the Allianz share price.
*Allianz posts slight fall in Q1 net income, revenue rises. But shareholders, including some of Allianz's largest, told Reuters last month that they were concerned about Pimco, the bond powerhouse that has had its reputation tarnished by a run of poor returns and the departure of CEO Mohamed El-Erian amid a row with co-founder Bill Gross.
FRANKFURT, May 2- Allianz shareholders will publicly press its top executives next week to address the underperformance of its Pimco fund management unit in the hope that the German insurer will look more closely at management problems there.
OMAHA, Nebraska, May 1- A ho-hum stock market so far this year may be just what Berkshire Hathaway shareholders needed.
CNBC's Jeff Cox breaks down what Bill Gross's ideas are for the future of the U.S. economy.
A prolonged low interest rate environment will push investors into choices they wouldn't normally make, Bill Gross said in his latest letter to investors.
PIMCO'S MAISONNEUVE SAYS HAS NOT SPOKEN TO MOHAMED EL-ERIAN SINCE HE LEFT, SAYS SHE HAS FULL SUPPORT OF BILL GROSS.
*Virginie Maisonneuve to stick to existing growth strategy. By Simon Jessop and Alexander Smith. That equity expansion strategy has been honed in the three months since French-born Virginie Maisonneuve was hired by then-Chief Executive Mohamed El-Erian- before a high-profile bust-up with Chief Investment Officer Bill Gross led to El-Erian's departure.
Pimco's former CEO and one-time heir apparent also tells CNBC he left the investment giant because he wanted to do something different.
April 11- Mohamed El-Erian, former CEO of Pimco, has been unwilling to respond to criticism from the bond investment firm's chief investment officer Bill Gross because of a strict non-disclosure agreement he made with Pimco, according to two sources familiar with his thinking.
April 10- Bill Gross, the co-founder and chief investment officer of Pimco, told Bloomberg Businessweek that his chosen successor, Mohamed El-Erian, never fully explained his decision to leave one of the largest investment firms in the world. , "Gross, who oversees nearly $2 trillion of assets, said El-Erian only told him:" I'm not the man to lead the company forward. "
Significant underperformance coupled with the exit of high-profile CEO Mohamed El-Erian caused Gross to re-evaluate the way he was running the firm.
NEW YORK, April 9- The Pimco Total Return Fund, the world's largest bond fund, cut its holdings of U.S. government-related securities and mortgages for the second straight month in March on continued bets that the Federal Reserve will conclude bond purchases this year, data from the firm's website showed on Wednesday.
*Pimco performance, governance issues worry Allianz owners. FRANKFURT, April 4- Several of the biggest investors in Allianz are pressing the German insurer to step up oversight of its California asset management unit Pimco and one is considering the unusual step of going public with its concerns at a shareholder meeting in May.
NEW YORK, April 3- Bill Gross, manager of the world's largest bond fund at Pimco, said on Thursday that asset returns will be in the low- to mid-single digits this year despite relatively positive economic growth.
While it would be understandable if Bill Gross was mourning his firm's results, the Pimco founder took time out to rue the demise of his pet cat.
April 3- Bill Gross, co-founder of bond fund giant Pimco and widely known as the "Bond King," has had a rough start to the year.
NEW YORK, April 1- Investors pulled another $3.1 billion from Pimco's flagship fund in March, the 11th straight month of outflows from the world's largest bond fund, and its performance on the month lagged 95 percent of its peers due to a spate of wrong calls by long-time manager Bill Gross.
NEW YORK, April 1- The Pimco Total Return Fund, the world's largest bond fund, posted $3.1 billion in outflows in March, extending the fund's record outflow streak to 11 straight months, data from Morningstar showed on Tuesday.
NEW YORK, April 1- The Pimco Total Return Fund, the world's largest bond fund run by Pimco co-founder Bill Gross, trailed 95 percent of its peers in March, increasing the risk that more money could flee the firm's flagship fund in the wake of a management shake-up.