Newport Beach, California (January 2, 2019) – PIMCO, one of the world’s premier fixed income investment managers, has completed its acquisition of Gurtin Municipal Bond Management (Gurtin), a specialist municipal bond manager serving high and ultra-high net worth individuals. The combined business manages $38 billion in dedicated municipal bond assets and offers clients a more extensive and enhanced suite of strategies and services, backed by broader muni credit research and quantitative analysis, enhanced technology and outstanding client service.

“We are thrilled to complete the acquisition of Gurtin which combines our client-focused cultures to create a muni platform which offers institutions, RIAs and individual investors a comprehensive suite of muni strategies and services,” said Emmanuel Roman, PIMCO’s Chief Executive Officer.

“It was important to me that if we ever sold our firm it would be to a partner that shares our commitment to excellence and similarly felt that client interests come first. The fact that our clients were overwhelmingly supportive of our transaction validates that PIMCO is just that firm, making this an exciting time for Gurtin clients and employees,” said Bill Gurtin, Founder of Gurtin.

To ensure continuity for Gurtin clients, the firm will maintain its San Diego and Chicago offices, and its investment team will continue managing its funds and separate accounts. Mr. Gurtin will continue to be involved in the business for several years to oversee existing investment operations and support the combined business.

Disclosures

About Gurtin

San Diego-based Gurtin is an asset manager with a singular focus on maximizing tax-exempt income for high net worth individuals. Gurtin strives to deliver municipal investors first-class client service, deep analysis, and expertise, and creative strategies uncovering often overlooked value. With a commitment to seeking to protect and grow clients’ assets, Gurtin partners with a network of over 150 investment advisors and family offices nationwide, to provide an exceptional municipal investment experience.

About PIMCO

PIMCO is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, the firm continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today PIMCO has offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz SE, a leading global diversified financial services provider.

Income from municipal bonds is exempt from federal tax, but may be subject to state and local taxes and at times the alternative minimum tax.

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.

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PIMCO Announces The Completion Of Its Acquisition Of Gurtin Municipal Bond Management

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