PIMCO plans to internalise RE services

PIMCO/responsible-entity/RE/funds-management/investment-management/

31 October 2016
| By Anonymous (not verified) |
image
image
expand image

Fixed income fund manager, PIMCO, plans to internalise its responsible entity (RE) functions, for its $10 billion managed fund complex in quarter one of 2017.

PIMCO said it obtained its RE licence following the successful internalisation of PIMCO's wealth management distribution services in December 2015.

It was a natural step for PIMCO as a provider of investment solutions, the fund manager said.

PIMCO's head of Australia, Adrian Stewart, said PIMCO would now have the ability to innovate and provide contemporary investment solutions to clients.

It would be able to provide end-to-end client management, robust risk and compliance controls and provide dedicated RE services, he said.

The net tangible asset (NTA) capital requirement for REs would also not be capped, while PIMCO was also well placed to support growth without constraints, PIMCO said.

"Since December 2015, we have met with or presented to more than 6,500 advisers. In addition, 475 advisers have recommended PIMCO to their clients for the first time. We are very proud of these results, and they underscore our commitment to the Australian marketplace," Stewart said.

PIMCO said it would become an RE subject to unit holder approval.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND