Pacific Investment Management Company LLC (PIMCO) is one of the world's leading fixed-income managers with over $790.3 billion in assets under management (as of September 30, 2008). Based in Newport Beach, CA, PIMCO was established in 1971 to offer separate account management services primarily for employee benefit plans, endowments and foundations. PIMCO now also offers their expertise to individuals through managed account programs and retail mutual funds which are both offered through Allianz Global Investors.  Initially consisting of only three management professionals, including Bill Gross, PIMCO has since grown to an extensive list of employees and investment professionals. PIMCO's total return approach to bond investing was pioneered by Bill Gross over 30 years ago and focuses on income and capital appreciation, rather than just income alone, while trying to manage overall risk. This approach is still the backbone of PIMCO’s portfolios. While renowned for its bond management expertise, PIMCO has also developed a range of innovative investment strategies to offer investors access to other asset classes, including stocks, commodities and real estate.  In recent years, the firm has expanded its global operations and today has offices in cities such as London, Munich, Singapore, Sydney and Tokyo.

Today, PIMCO continues to distinguish itself as one of the most respected names in fixed income management--due in large part to the success of its innovative total return approach. PIMCO's client list now includes more than half of the largest 100 U.S. corporations. Additionally, Bill Gross and the PIMCO Bond Team have received numerous accolades, including being named Morningstar's Fixed Income Manager of the Year an unprecedented three times, in 1998, 2000 and 2007. The Morningstar Fixed-Income Fund Manager of the Year Award winners are chosen based upon Morningstar's own research and in-depth evaluation by its senior editorial staff.