Asset management firm PIMCO has strengthened its emerging market debt team with the appointment of 17-year market veteran Said Saffari.
The corporate bond specialist joins from New York-based independent investment firm GoldenTree Asset Management.
He is based in PIMCO’s head office in Newport Beach in California and reports to Michael Gomez, head of emerging market portfolio management.
Saffari will act as a portfolio manager within the emerging markets team, although it has not been revealed which funds he has been assigned to as yet.
Saffari joined GoldenTree Asset Management, which oversees $21 billion in corporate and structured credit portfolios, in August 2013 as an emerging market debt portfolio manager.
He was previously with investment firm ICE Canyon where he focused on emerging market strategies investing in loans, bonds and structured products.
Commenting on Saffari’s appointment, Michael Gomez said: The asset class has expanded well beyond government bonds to increasingly include corporate issuers as well as more complex security structures.’
Gomez is currently a named manager on 13 of PIMCO’s emerging market-focused funds, which cover emerging Asia, currencies, mixed assets and SRI-compliant strategies.
The addition of Saffari coincides with several new additions for PIMCO over the summer. This saw it add several new analysts and researchers to its equity team and also hire fixed income specialist Mohsen Fahmi for deputy chief investment officer Mihir Worah’s team.