In the Margins

Will robots make future PIMCO investment decisions?

April 25, 2018

By The Wall Street Journal

PIMCO used to rely heavily on one man to make many of its key investment decisions. Now it’s betting a big part of its future on millions of lines of software code. The Newport Beach, Calif.-based firm will open a new office in Austin, Texas, later this year to help recruit more tech-savvy workers who might otherwise spurn the bond manager for traditional software companies, people familiar with the matter said. PIMCO plans to grow its workforce by 10% this year, adding about 250 new staff. Read the original story from The Wall Street Journal.



Most Read

Top of the Agenda - Governance
Directors: Focus on prospectus for ESG funds

Environmental, social, and governance investing has been a huge topic of discussion in the mutual fund industry over the past several years, including in fund boardrooms. ...