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PIMCO Funds Under Review Following Gross' Exit

PIMCO to name replacement by end of day.

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We are placing all rated PIMCO funds under review--including the flagship PIMCO Total Return (PTTRX)--while we assess the impact of today’s announcement that founder, managing director, and chief investment officer Bill Gross is leaving the firm for Janus. PIMCO has said it would name a replacement for Gross by end of day, Friday, Sept. 26.

Following Mohamed El-Erian's departure in March, PIMCO named six deputy CIOs in order to make a more orderly plan of succession. They are Andrew Balls, Dan Ivascyn, Mihir Worah, Mark Kiesel, Scott Mather, and Virginie Maisonneuve. These six will likely play key roles in the wake of Gross' departure.

Russel Kinnel has a position in the following securities mentioned above: PTTRX, PCRIX. Find out about Morningstar’s editorial policies.