PIMCO: Bill Who?

Bill Gross increasingly furious that his old firm keeps texting back "New phone, who dis?"
Author:
Updated:
Original:
Photo: Bob Riha Jr/Getty Images

Photo: Bob Riha Jr/Getty Images

There’s a new Bond King in Newport Beach, and he doesn’t wear a tie at all, not even like a scarf, and prefers to watch TV rather than be on it.

Almost no comparable fund in the country has matched the return of his Pimco Income Fund over the past three and five years….

The fund returned 10.6 percent in the past 12 months alone and investor money is now pouring in at a pace unseen by any other actively-managed stock or bond fund, according to data compiled by Bloomberg and Morningstar Inc.

Who is this impressive new thoroughbred, well on his way to a Triple Crown of his own? Well, his name’s Dan Ivascyn, and while he might bore you to tears at parties, he probably won’t flip out if you look him in the eye or yell at you for typing too loudly.

Ivascyn peppers his conversation with phrases like “the optimal sizing of U.S. duration versus Australian duration" and "correlation matrices," which he allows “are very tough for the human mind to grasp.” A Massachusetts native who joined Pimco in 1998 after stints at Bear Stearns Cos., T.Rowe Price Group Inc. and Fidelity Investments, he has been known to read bond prospectuses while watching the Red Sox and Bruins.

All while slowly erasing the founder’s memory and soothing staffers’ PTSD.

The Income Fund, overseen by Pimco investment chief Dan Ivascyn, managed $75.37 billion as of Feb. 28. That surpasses Total Return, which managed $74.23 billion.

Pimco’s New Bond Chief Is Nailing It [Bloomberg]
Pimco’s Income Fund Surpasses Total Return in Assets [WSJ]

Related