Geoffrey Johnson, the manager of PIMCO's only remaining internally managed active equity fund, the $849 million EqS Long/Short Fund, is retiring Aug. 1, confirmed spokesman Michael Reid in an e-mail Tuesday.
John Devir and Benjamin Strom will be managing the Pacific Investment Management Co. strategy after Aug. 1.
In June, PIMCO laid off members of a dividend-focused equity-oriented investment team, closing some of its equity strategies and having others subadvised by Research Affiliates. PIMCO closed most of its internally managed active equity strategies in 2015.
PIMCO directly runs StocksPLUS strategies, enhanced index strategies that use derivatives as a surrogate for equity exposure. But, with the exception of the EqS Long/Short strategy, Research Affiliates subadvises all of its other active equity strategies.
