NEWPORT BEACH, CA--(Marketwire - January 27, 2009) - PIMCO, a leading investment management firm, has launched the PIMCO Government Money Market Fund, which is designed to provide daily liquidity and preserve capital while generating a competitive level of income. The fund invests only in U.S. Treasury bills, notes and other obligations guaranteed or secured by the U.S. government and its agencies.
"Over the past year, investors have realized that managing cash is no simple task, and many have learned the hard lesson that not all money market strategies are created equal," said fund manager and PIMCO Managing Director Paul McCulley. "With the PIMCO Government Money Market Strategy, we are providing investors with a portfolio that focuses on liquidity and capital preservation characteristics that only the U.S. government and its agencies can offer."
Applications for the Government Money Market Fund include:
-- An investment that matches short-term liabilities
-- A temporary holding while investors determine permanent allocations
-- An option for investors with short-term investment horizons and a need
for principal stability and liquidity
-- A safe haven for investors who expect unfavorable conditions in other
asset classes
As with all PIMCO investment strategies, the Government Money Market Fund combines a simple core investment philosophy, extensive research analytics and rigorous risk management. PIMCO has successfully managed a prime money market strategy since 1986, and the addition of the Government Money Market Fund enhances the firm's ability to provide solutions that today's money market investors need.
The ticker symbol for the PIMCO Government Money Market Fund is PGFXX.
About PIMCO
PIMCO, founded in 1971, is a global asset management firm serving a full range of institutional and retail investors worldwide. Our reputation as one of the world's top asset managers rests on our combination of a long-term investment approach, superior client servicing and cutting edge technology. With offices in North America, Europe, Asia and Australia, we manage investments across a full spectrum of global financial markets. Our success is built on our goal of consistently providing attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
Contact Information: Contact: Steven Vames PIMCO Media Relations 212-739-3598