Pimco's CIO for global equities, Maisonneuve, leaving after less than two years

Executive to leave after helping liquidate three active stock strategies at the firm

May 14, 2015 @ 12:11 pm

By Randy Diamond

Virginie Maisonneuve, Pimco's chief investment officer for global equities, is resigning as the firm closes two equity strategies, the money management firm disclosed in a statement on Thursday.

Ms. Maisonneuve joined Pacific Investment Management Co. in January 2014. A key part of her mandate was to build up assets in the two strategies the company has decided to close: the EqS Pathfinder Fund, a value equity strategy and the EqS Emerging Markets Fund.

Doug Hodge, CEO of Pacific Investment Management Co., said in a statement that Ms. Maisonneuve will direct the transition and “oversee an orderly liquidation of these strategies.”

In light of the changes, she decided to leave the firm after the liquidation, he said.

Sources say she will not be replaced.

EqS Pathfinder, the largest of the two strategies, had $1.2 billion in assets as of March 31, shows data provider eVestment. The EqS Emerging Markets fund had $81 million in assets as of March 31, eVestment shows.

Pimco made a push into active equities in 2010, saying its investors wanted a firm that could manage money across equity classes.

(More: Pimco plucks two from Schroders for equities expansion effort)

But the equity strategies that are closing, a key part of Pimco's active equity initiative, were never able to generate significant inflows. The firm has been focusing on retooling its fixed-income operations and stemming billions of dollars in asset outflows following the departure of William H. Gross, former chief investment officer.

In the statement, Mr. Hodge said that equities will continue to be an important part of Pimco's operations. The firm has around $50 billion in equities, mostly in passive strategies and as part of a subadvisory partnership with alternative index provider Research Affiliates.

Randy Diamond is a reporter at sister publication Pensions & Investments.


What do you think?

View comments

Recommended for you

Featured video


Financial health of advisory firms is excellent. Or is it?

Deputy editor Bob Hordt and senior columnist Jeff Benjamin discuss the fact that double-digit growth in revenue and assets doesn't necessarily spell a rosy future.

Latest news & opinion

Don't be fooled by the numbers — the industry is in a dangerously vulnerable state

Last year's stock market gains helped advisers turn in solid growth in assets and revenue, but that growth could disappear in the next market downturn.

Divided we stand: How financial advisers view President Trump

InvestmentNews poll finds 49.2% approve of his performance, while 46.7% disapprove. How has that changed over the course of his presidency?

10 states with the most college student debt

Residents of these states have the most student debt when you consider their job opportunities.

Ex-Wells Fargo brokers sue for damages, claiming they lost business in wake of scandals

In a Finra arbitration complaint, two brokers allege that Wells Fargo's problems damaged their business.

Invesco to buy OppenheimerFunds

Deal brings Invesco another $246 billion in assets, as well as high-fee actively managed funds.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print