Pimco revamps BOND ETF, changing fund s name and managers #united #states,daniel #hyman,david #braun,jeffrey #e.


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Pimco revamps BOND ETF, changing fund s name and managers

A Pacific Investment Management Co (PIMCO) sign is shown in Newport Beach, California August 4, 2015. Mike Blake

NEW YORK (Reuters) – Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund ( BOND.P ) and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF.

The fund’s new name will be the Pimco Active Bond ETF. Managers Scott Mather, Mark Kiesel and Mihir Worah are being replaced by David Braun, Jerome Schneider and Daniel Hyman.

The ETF’s ticker, BOND, will remain, a Pimco spokeswoman said.

Once run by Pimco co-founder Bill Gross, the ETF’s assets have fallen to $2 billion from $5.2 billion at its 2013 peak.

The new managers bring “the right mix of expertise and experience in an evolving ETF investing environment where clients are seeking more income,” at a time of low rates and low returns, the spokeswoman said in an emailed statement.

The ETF will change its stated goals, including adopting new rules that allow fund managers to build more exposure to high-yield junk bonds and have more flexibility on how much interest rate risk they will take on. Investors expect U.S. interest rates to rise.

The changes are expected to take effect by May 8, pending regulatory approvals.

The Pimco Total Return Active ETF was an actively managed intermediate-term ETF intended to mimic the strategy of Pimco’s flagship mutual fund, the Pimco Total Return Fund, which was also run by Gross.

BOND first began losing assets in September 2014 after the U.S. Securities and Exchange Commission said it was looking into whether Pimco inflated returns of the fund, then managed by Gross. That same month, Gross abruptly left Pimco in a messy split. He now works for Janus Capital Group Inc JNS.N

Pimco agreed in December to pay $20 million to settle charges it misled investors about the fund’s performance. The company did not admit or deny the findings, and said at the time that it has enhanced its policies.

Pimco, which managed nearly $1.47 trillion on Dec 31 and is based in Newport Beach, Calif. is a unit of German insurer Allianz SE ( ALVG.DE ).

“While BOND was a strong asset gatherer in early days, it has shed assets,” facing competition from funds managed by Fidelity Investments and DoubleLine Capital LP’s Jeffrey Gundlach, said Todd Rosenbluth, director of ETF and mutual-fund research at S Editing by Frances Kerry and David Gregorio


B – M Retail – Poor culture, poor salary, no support, steer clear if you


#B & M retail

#

Poor culture, poor salary, no support, steer clear if you want to progress your career.

Sorry i can t think of many pros other than there is loads of autonomy, stack it high sell it cheap mentality

B M does not support it s managers, you are set up fail all the time, when it goes wrong you are dragged over the coals and when you do well you get very little if no recognition. The systems are so inadequate they are constantly screwing up the stock control system, you are constantly bombarded with very cheap poor quality rubbish from China that only sells as it is so cheap.

Most other managers i met always felt the same, some were suffering with depression because they felt so let down and unsupported by their area managers.

The salary is very low for a store manager from around 24k to 27k

I would not recommend B M everything about is low quality, the stock, the culture and the pay.

Advice to Management

Support your managers and stop setting them up to fail

6am-2pm Shift means you still have the day to do stuff

30 minute break for a full 8 hour shift (hard physical work)
Literally slave drivers
Can be fired for the smallest thing
you work 5 days per week but no days off together
made to work an extra 2 hours on Sundays put the pay is always the same
Warehouse is on its last legs (leaks, broken racks, not enough equipment)
Products are treated poorly, Literally thrown onto pallets and dropped from heights (and you wonder why your goods are faulty)
tight Deadlines mean that you cant practice safe manual handling or health and safety AT ALL!
Staff morale is the lowest of anywhere i have worked
The whole place is dirty and disgusting including the toilets and rest areas
Can be fired for not doing overtime

Advice to Management

Try treating staff properly and maybe they will work better for you. The place is like a work house NO JOKE!

If you are a customer looking for a bargain then this is the store for you as it has branded products at a slashed price of all other supermarkets.

Firstly the training is poor and only 4 hours long which is made up of 3 hours reading and half an hour signing contracts. You are expected to know everything you are expected to do after the 30 minutes they spend showing you where fire exits and offices are. Being and ex-worker of B M I have witnessed how terrible the management of the store are. They are very rarely present in between trips to Mcdonalds with friends they have employed – which is a good majority of the staff – which means everyone else is left to run the store themselves and are then disciplined if something goes wrong. Friends of the managers do little to no work, other than socialising, and get paid the same as the small amount who are left with the weight on their shoulders.

You were only given a 30 minute break during a 9 hour shift and you were demonized for leaving the shop floor for 2 minutes to get a drink of water after dragging heavy pallets around and unloading heavy boxes. The threatening way in which the normal staff are spoken to is disgusting and degrading. There were a lot of double standards and some staff that did not get on well with friends of the managers were given false records of bad work habits, including myself.

Workers are expected to work long hours for minimum wage and under 18s are kept in past 12 oclock to complete stock takes and are then expected to start a shift again at 7 oclock the next morning. Not only this, many missed last public transports as it was not completed before 10 oclock as promised and were expected to walk home. This surely must be a violation of health and safety and it is shocking how no other alternative to get home was offered by the store as it was their fault transport has been missed, especially for 16 and 17 year olds who could not afford expensive taxi fares home. Your hard work is never appreciated with over-time or praise and it was common for the managers to shout at staff in front of customers and other employees using vile language on the shop floor.

The warehouse was infested by maggots and ants which were washed off of products to then be sold on the shop floor, and there was mould growing from inside couches which a few workers were asked to pick off and clean before it was then displayed as quality stock again an hour or so after.

Overall it was a horrendous place to work and I am surprised I lasted the 8 weeks I did before walking. I will never purchase anything from the store as I have seen the way in which stock is carelessly handled and I would encourage anyone to stay clear of any job opportunities the place has to offer. I am surprised at how there can possibly be any rating higher than 2 stars regarding this company, but they reviews are most likely employed friends and family.

Advice to Management

Management need to be investigated and retrained


B – M Retail – Poor culture, poor salary, no support, steer clear if you


#B & M retail

#

Poor culture, poor salary, no support, steer clear if you want to progress your career.

Sorry i can t think of many pros other than there is loads of autonomy, stack it high sell it cheap mentality

B M does not support it s managers, you are set up fail all the time, when it goes wrong you are dragged over the coals and when you do well you get very little if no recognition. The systems are so inadequate they are constantly screwing up the stock control system, you are constantly bombarded with very cheap poor quality rubbish from China that only sells as it is so cheap.

Most other managers i met always felt the same, some were suffering with depression because they felt so let down and unsupported by their area managers.

The salary is very low for a store manager from around 24k to 27k

I would not recommend B M everything about is low quality, the stock, the culture and the pay.

Advice to Management

Support your managers and stop setting them up to fail

6am-2pm Shift means you still have the day to do stuff

30 minute break for a full 8 hour shift (hard physical work)
Literally slave drivers
Can be fired for the smallest thing
you work 5 days per week but no days off together
made to work an extra 2 hours on Sundays put the pay is always the same
Warehouse is on its last legs (leaks, broken racks, not enough equipment)
Products are treated poorly, Literally thrown onto pallets and dropped from heights (and you wonder why your goods are faulty)
tight Deadlines mean that you cant practice safe manual handling or health and safety AT ALL!
Staff morale is the lowest of anywhere i have worked
The whole place is dirty and disgusting including the toilets and rest areas
Can be fired for not doing overtime

Advice to Management

Try treating staff properly and maybe they will work better for you. The place is like a work house NO JOKE!

If you are a customer looking for a bargain then this is the store for you as it has branded products at a slashed price of all other supermarkets.

Firstly the training is poor and only 4 hours long which is made up of 3 hours reading and half an hour signing contracts. You are expected to know everything you are expected to do after the 30 minutes they spend showing you where fire exits and offices are. Being and ex-worker of B M I have witnessed how terrible the management of the store are. They are very rarely present in between trips to Mcdonalds with friends they have employed – which is a good majority of the staff – which means everyone else is left to run the store themselves and are then disciplined if something goes wrong. Friends of the managers do little to no work, other than socialising, and get paid the same as the small amount who are left with the weight on their shoulders.

You were only given a 30 minute break during a 9 hour shift and you were demonized for leaving the shop floor for 2 minutes to get a drink of water after dragging heavy pallets around and unloading heavy boxes. The threatening way in which the normal staff are spoken to is disgusting and degrading. There were a lot of double standards and some staff that did not get on well with friends of the managers were given false records of bad work habits, including myself.

Workers are expected to work long hours for minimum wage and under 18s are kept in past 12 oclock to complete stock takes and are then expected to start a shift again at 7 oclock the next morning. Not only this, many missed last public transports as it was not completed before 10 oclock as promised and were expected to walk home. This surely must be a violation of health and safety and it is shocking how no other alternative to get home was offered by the store as it was their fault transport has been missed, especially for 16 and 17 year olds who could not afford expensive taxi fares home. Your hard work is never appreciated with over-time or praise and it was common for the managers to shout at staff in front of customers and other employees using vile language on the shop floor.

The warehouse was infested by maggots and ants which were washed off of products to then be sold on the shop floor, and there was mould growing from inside couches which a few workers were asked to pick off and clean before it was then displayed as quality stock again an hour or so after.

Overall it was a horrendous place to work and I am surprised I lasted the 8 weeks I did before walking. I will never purchase anything from the store as I have seen the way in which stock is carelessly handled and I would encourage anyone to stay clear of any job opportunities the place has to offer. I am surprised at how there can possibly be any rating higher than 2 stars regarding this company, but they reviews are most likely employed friends and family.

Advice to Management

Management need to be investigated and retrained