PIMCO Global Multi-Asset Portfolio Joins Pacific Life's Variable Annuity Investment Option Lineup
Newport Beach, Calif. (May 14, 2010)-Pacific Life has added a comprehensive asset allocation portfolio from Pacific Investment Management Company (PIMCO) to the insurance company's variable annuity investment options.
The PIMCO Global Multi-Asset Portfolio offers Pacific Life's variable annuity clients the full breadth and depth of PIMCO's time-tested and proven investment process in assets that include global equities, fixed income, commodities, and real estate.
"We are excited about adding PIMCO's latest strategy, Global Multi-Asset Portfolio, to our strong variable annuity portfolio lineup," said Christine Tucker, vice president, marketing, Pacific Life's Retirement Solutions Division. "Risk management strategies have become an increasingly important part of clients' investment objectives. This new investment option can help financial professionals better plan for their clients' lifetime retirement income."
The portfolio's objective is total return that seeks to exceed its benchmark. PIMCO uses a multi-pronged strategy designed to balance return potential through value investing with an optimal mix of risk factors to help hedge the portfolio against the impact of market crises.
"The global multi-asset strategy is an important part of PIMCO's evolution as a provider of global investment solutions," said PIMCO CEO and co-portfolio manager Mohamed El-Erian. "Part of what makes it unique is our focus on risk factors rather than asset classes and our tail-risk hedging approach, which turns the lessons from severe events of the past into forward-looking instruments that can help manage risk in the portfolio and identify growth opportunities."
Sharing the management of the portfolio is Curtis Mewbourne, a managing director and generalist portfolio manager, and Vineer Bhansali, who is responsible for portfolio management analytics and tail-risk hedging.
The PIMCO Global Multi-Asset Portfolio joins 43 other investment options available within Pacific Life variable annuities. This is the third offering from PIMCO, which since 1996 has provided subadvisory services for the Pacific Select Fund Inflation Managed and Managed Bond portfolios.
Financial professionals can learn more about the PIMCO Global Multi-Asset Portfolio by contacting their Pacific Life consultative wholesalers or by calling (800) 722-2333.
About PIMCO
PIMCO, founded in 1971, is a global investment management firm serving a full range of institutional and retail investors worldwide. Our reputation as one of the world's top managers rests on our combination of a long-term investment approach, superior client servicing and cutting edge technology. With offices in nine countries in North America, Europe, Asia and Australia, we manage investments across a full spectrum of global financial markets. Our success is built on our goal of consistently providing attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life also counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit the About Pacific Life section of this web site.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of April 2010 is compiled by Pacific Life using the 2009 FORTUNE 500® list.
You should carefully consider a variable product's risks, charges, limitations, and expenses, as well as the risks, charges, expenses, and investment objectives of the underlying investment options. This and other information about Pacific Life are provided in the product and underlying fund prospectuses. These prospectuses are available from your registered representative or by calling (800) 722-4448. Read them carefully before investing.
Variable annuities are long-term investments designed for retirement. The value of the variable investment options will fluctuate and, when redeemed, may be worth more or less than the original cost. Withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional tax of 3.8% may apply on investment income beginning in 2013. If withdrawals and other distributions are taken prior to age 59½, a 10% federal tax penalty may apply. A withdrawal charge also may apply. Withdrawals will reduce the value of the death benefit and any optional benefits.
Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each company is solely responsible for the financial obligations accruing under the products it issues. Insurance product and rider guarantees are backed by the financial strength and claims-paying ability of the issuing company and do not protect the value of the variable investment options.
Variable annuities issued by Pacific Life are distributed by Pacific Select Distributors, Inc. (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA), and are available through licensed third-party broker/dealers. Shares of the PIMCO Global Multi-Asset Portfolio are distributed by Allianz Global Investors Distributors LLC.
Past performance is not a guarantee or a reliable indicator of future results.
Asset allocation is the process of distributing investments among various classes of investments (e.g., stocks and bonds). It does not guarantee future results, ensure a profit, or protect against loss.
Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. High yield bonds have greater credit risk than higher quality bonds. Generally, stocks of small-cap, mid-cap, and emerging-growth companies may be riskier and more volatile than those of larger, more established companies. International investing is subject to currency fluctuations and political changes. Real estate investments involve risks such as refinancing, economic impact on industry, changes in property values, dependency on management skills, and risks similar to small company investing. A fund-of-funds is subject to the risks associated with the underlying funds in which it invests. Exchange-traded funds (ETFs) are not actively managed and are subject to risks similar to stocks, including those related to short selling and margin maintenance. Short positions pose a risk because they lose value as a security's price increases; therefore, the loss on a short sale is theoretically unlimited. Leverage can increase market exposure and magnify investment risk. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Income from municipal bonds may be subject to state and local taxes and at times the alternative minimum tax. Commodity-linked derivative instruments may involve additional costs and risks such as changes in commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments.