New Pimco Chiefs Seek to Calm Investors After Gross Exit
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Pacific Investment Management Co., seeking to calm investors after the surprise departure of co-founder and former chief investment officer Bill Gross, said there will be no major changes in investment strategy at the manager of the world’s biggest bond fund.
Pimco was initially focused on trading following the Sept. 26 announcement that Gross, widely considered the most influential bond manager, was leaving for Janus Capital Group Inc., Pimco chief executive officer Douglas Hodge said in an interview. The firm has since started reaching out to clients and distribution partners around the world in a bid to prevent large-scale redemptions.