Fund manager Pimco brings in Penrose

Pacific Investment Management Company (Pimco), the world's largest active bond fund manager, has taken on Penrose Financial, ending a five-year relationship with WMC Communications.

Pimco head of marcoms Anne Fairchild Jones said the company had brought in Penrose last month, following a three-way pitch also involving WMC.

The brief, which is believed to be worth £100,000, is to raise Pimco's profile in the UK and Europe.

'We're keen to make pension funds aware of the full fixed-income toolkit,' Fairchild Jones told PRWeek.

Pimco managed more than £144bn in 2000, but now manages more than £275bn worldwide, £20bn of this in continental Europe.

In recent years, falling stock market returns and the increasing liability of pensioners' longer life-spans has made fixed-income funds more popular with the trustees of pension funds.

A revival in share prices could mean that pension funds that are over-reliant in bonds would lose out on more attractive yields.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.