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Didn't even notice that former Mutual Discovery manager Anne Gudefin is now managing Pimco Pathfinder (PATHX) solo. See also a co-manager leaving Pimco EQS Dividend (one of the former Thornberg Income Builder managers.)
I'm guessing no one here owns PATHX (I don't), but makes me question whether to sell the remainder of what Pimco funds I do own.
Anne Gudefin has managed PATHX since 4/10/10, that news ?
NO.... From the Pimco website... "Prior to 29 January 2014, Charles M. Lahr was a Portfolio Manager. "
Lahr co-managed Mutual Discovery with Gudefin for quite a while.
Trying to show that you've now seen two Pimco EQS funds (teams who were well-respected at former funds before they were brought to Pimco and were together for a while) lose co-managers within the last few months. As concerning at the situation at the top at Pimco is, the Pimco stock side seems leaderless.
I'm a bit less "company sensitive" than some people on MFO, but I've gotten to the point where I'd say consider staying away from Pimco's stock funds.
I agree with Scott; Pimco's foray into stocks is not going very well.
Scott, are you still holding PMHIX? I sold recently; started looking to me like the long-long-long-long-short strategy * in riskier stocks might not do so well ahead, so moved the $ into more risk-averse, moat-y, large cap territory.
*Paraphrasing: hat tip to Bob C. for the pithy characterization of that approach to L/S.
I agree with Scott; Pimco's foray into stocks is not going very well.
Scott, are you still holding PMHIX? I sold recently; started looking to me like the long-long-long-long-short strategy * in riskier stocks might not do so well ahead, so moved the $ into more risk-averse, moat-y, large cap territory.
*Paraphrasing: hat tip to Bob C. for the pithy characterization of that approach to L/S.
I've done well with Pimco L/S. I sold a little the other day, but am now probably going to offload the rest of it.
@scott My concern is for the overall internal affect upon those who remain. I have seen too many times in business, large and small, how internal conflict causes "operational problems". Folks not in a good mood..........................
I choose to have the managers of our holding in PIMIX with a clear state of mind operating this fund.
A quote from the "Twilight" book series.............."Your mood swings are giving me whiplash."
I do not want any fund manager having to deal with internal company mood swings that may cause my holdings with them to have a "whiplash" problem for performance.
@scott My concern is for the overall internal affect upon those who remain.
Take care, Catch
I agree. As for the stock fund side of the business, I thought what Pimco was doing - bringing in mostly "known" (especially in the case of the Thornburg Income Builder and Mutual Discovery managers) teams/managers from other funds was really quite interesting. Now the two most "known" teams have had co-managers leave and the person brought in to really start the division left to run for governor.
Plus, the whole El-Erian thing couldn't have been handled worse.
Actually Ms. Gudefin has co-managed the fund since inception. I went back to the prospectus to check. There are two different spots in the doc, dated 10/13, that identifies the fund as co-managed by Gudefin and Lahr since inception.
David
PIMCO EqS Pathfinder Fund®
Anne Gudefin, CFA
Since 4/10*
Executive Vice President, PIMCO. Ms. Gudefin joined PIMCO in January 2010 as a global equity portfolio manager. Prior to joining PIMCO, she was a senior vice president, portfolio manager and research analyst at Franklin Templeton Investments, where she spent nine years.
Comments
Lahr co-managed Mutual Discovery with Gudefin for quite a while.
Trying to show that you've now seen two Pimco EQS funds (teams who were well-respected at former funds before they were brought to Pimco and were together for a while) lose co-managers within the last few months. As concerning at the situation at the top at Pimco is, the Pimco stock side seems leaderless.
I'm a bit less "company sensitive" than some people on MFO, but I've gotten to the point where I'd say consider staying away from Pimco's stock funds.
Scott, are you still holding PMHIX? I sold recently; started looking to me like the long-long-long-long-short strategy * in riskier stocks might not do so well ahead, so moved the $ into more risk-averse, moat-y, large cap territory.
*Paraphrasing: hat tip to Bob C. for the pithy characterization of that approach to L/S.
My concern is for the overall internal affect upon those who remain. I have seen too many times in business, large and small, how internal conflict causes "operational problems". Folks not in a good mood..........................
I choose to have the managers of our holding in PIMIX with a clear state of mind operating this fund.
A quote from the "Twilight" book series.............."Your mood swings are giving me whiplash."
I do not want any fund manager having to deal with internal company mood swings that may cause my holdings with them to have a "whiplash" problem for performance.
Take care,
Catch
Plus, the whole El-Erian thing couldn't have been handled worse.
David
PIMCO EqS Pathfinder Fund®
Anne Gudefin, CFA
Since 4/10*
Executive Vice President, PIMCO. Ms. Gudefin joined PIMCO in January 2010 as a global equity portfolio manager. Prior to joining PIMCO, she was a senior vice president, portfolio manager and research analyst at Franklin Templeton Investments, where she spent nine years.