Ivascyn to Join Pimco Diversified Fund as Mewbourne Retiringby
Mutual fund with $2.3 billion in assets is up 5% this year
Ivascyn and Murata to join leadership of Mewbourne’s funds
Daniel Ivascyn, group chief investment officer at Pacific Investment Management Co., and Alfred Murata will join the management team of the $2.3 billion Pimco Diversified Income Fund as manager Curtis Mewbourne plans to retire at the end of September.
Murata and Ivascyn will join Eve Tournier, head of European credit portfolio management, to lead the Diversified Income Fund with Mewbourne prior to his retirement, the firm said Thursday in a statement. The same team will also be co-managing the Pimco Floating Income Fund and the Pimco Diversified Income Active Exchange-Traded Fund.
Ivascyn, 46, and Murata co-manage the $58 billion Pimco Income Fund, the fastest-growing fund at Pimco as investors pulled money from the asset management firm over the past three years. Pimco’s assets were about $1.5 trillion at the end of the first quarter, down from a peak of $2 trillion in the first quarter of 2013.
The Diversified Income fund is up 5 percent this year, outperforming 97 percent of its Bloomberg peers. It has returned an annualized 4.6 percent over the past five years, beating 41 percent of competitors. Pimco Income is up 3.6 percent in 2016 and has bested 99 percent of peers over the last three and five years.
Mewbourne, 49, has worked at Pimco for 17 years following jobs with Salomon Brothers and Lehman Brothers.
“Curtis has made invaluable contributions to the firm throughout his career at Pimco and we wish him all the best for his planned retirement later this year,” Ivascyn said in the statement.