Pimco announces co-portfolio manager changes for 11 municipal funds

By Tali Rackner

Norfolk, Va., Aug. 20 – Pimco announced that David Hammer will be co-portfolio manager of the Pimco Municipal Income Fund, Pimco Municipal Income Fund II, Pimco Municipal Income Fund III, Pimco California Municipal Income Fund, Pimco California Municipal Income Fund II, Pimco California Municipal Income Fund III, Pimco New York Municipal Income Fund, Pimco New York Municipal Income Fund II and Pimco New York Municipal Income Fund III, sharing responsibilities with current portfolio manager Joseph Deane, according to a press release.

Hammer also will act alongside Julie Callahan as co-manager of the Pimco Short Term Municipal Bond Active exchange-traded fund, according to a filing with the Securities and Exchange Commission.

In addition, Pimco announced that Callahan has been added as co-portfolio manager of the Pimco Intermediate Municipal Bond Active exchange-traded fund. She joins current manager Deane.

All management changes are effective immediately.

Hammer is an executive vice president and municipal bond portfolio manager based in New York. He first joined Pimco in 2012 as a senior vice president. In 2014, he joined Morgan Stanley as managing director, head of municipal trading and research, responsible for institutional and retail municipal trading, risk management and municipal credit research, the press release said. Hammer re-joined Pimco in 2015.

Prior to first joining Pimco in 2012, he was an executive director at Morgan Stanley, where he was head of the high-yield and distressed municipal bond trading group.

Callahan, a senior vice president, joined Pimco in 2011 and is a member of the municipal bond portfolio management team. Before Pimco, she was a portfolio manager for municipal separately managed accounts at Western Asset Management Co. Previously, she was a director and portfolio manager for municipal money market funds with Citigroup Asset Management.

Pimco is an investment management firm with offices in 12 countries.

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