EQT 2.45% $32.18 eqt holdings limited

How much revenue did PIMCO contribute?

  1. 4,783 Posts.
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    Having decided to look closer at fund managers I've been looking at this one.
    PIMCO was a client that had back office performed by EQT. Now they will be leaving them and DIY.
    Anyway of knowing if this is a big hurt of a flesh wound?
    $17 seems reasonably good price, and it is a good dividend payer


    PIMCO has obtained a responsible entity license in Australia and plans to internalise RE for its $10 billion managed funds suite.

    Subject to unitholder approval, PIMCO will then be the RE for the funds available to Australian investors, including the Australian Bond Fund, Australian Focus Fund, Capital Securities Fund, Diversified Fixed Interest Fund, Emerging Markets Bond Fund and Global Credit Fund. The current RE for these products is Equity Trustees (EQT).

    The move follows PIMCO internalising its wealth management distribution facilities in 2015; as with the RE functionality, distribution was also previously handled by EQT.


    This is the next major step. Unitholders will vote on the change in the first quarter of 2017, and PIMCO has highlighted multiple benefits already: end-to-end client management, robust risk and compliance controls, a dedicated RE client service, and an ease of meeting ongoing capital requirements.

    PIMCO head of Australia and New Zealand Adrian Stewart explained that the decision to internalise RE came about following a comprehensive review of the company's Australian footprint he conducted after joining in 2014: "It became really clear to me that while outsourcing to an RE specialist can be a great service, and we've had a really strong partnership with EQT for many years, bringing distribution in-house is more suited to our business needs and is therefore the logical next step."
 
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$32.18
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0.770(2.45%)
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$31.95 $32.80 $31.10 $436.6K 13.66K

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1 81 $31.91
 

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