UK/NETHERLANDS - The e14bn Bedrijfstakpensioenfonds Metalektro (PME) has hired PIMCO to run a e500m short-term bond mandate.
Paul McCulley, managing director and portfolio manager of PIMCO’s short-term strategy, will manage the mandate against a three month $Libor benchmark.
PIMCO’s short-term strategies adhere to less rigid, though still conservative, investment guidelines so the portfolio management team can enhance returns by diversifying and minimising risk.
PME’s fund manager Paul van Gent said: “The reason PME has selected PIMCO is because of their leadership in global fixed income management, their expansive knowledge of all available fixed income instruments, common sense approach to investing and last but not least the impressive operational structure of the organisation.”
Marc van Heel (pictured), senior vice president and director of business development Benelux, added: “At PIMCO we have a long and proven track record of delivering alpha via the many fixed income strategies we employ.
“We are delighted to welcome PME as a new PIMCO client, as they have been at the forefront of innovations in pension management and recognise the value of a specialised fixed income manager for alpha generation.”
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