The Newport Beach, Calif.-based money manager is creating the PIMCO Postdoctoral Fellowship in Computing and Mathematical Sciences and the PIMCO Graduate Fellowship in Computing and Mathematical Sciences. Each fellowship will be provided to two Caltech students.
PIMCO's collaboration with Caltech is part of the firm's strategic effort to integrate technological innovation and quantitative research into the its investment process. PIMCO in April also announced it would open an office in Austin, Texas, in part to recruit technologists and quant analysts from around the world.
Mihir Worah, PIMCO's managing director and chief investment officer of asset allocation and real return, said in a news release that the fellowships will create "critical links with researchers at the intersection of data science, machine learning and economics."