Pimco hires John Cummings as portfolio manager of municipal funds

By Devika Patel

Knoxville, Tenn., Dec. 10 - Pimco said in a press release that John Cummings will assume primary responsibility for the day-to-day portfolio management of some of the company's funds, effective Dec. 11.

Cummings is an executive vice president at Pacific Investment Management Co. LLC. He joined Pimco in 2002, and previously was at Goldman Sachs as an institutional trader, responsible for a number of municipal sectors, including industrials, airlines, utilities, health care and high yield.

Cummings earned a master's of business administration and undergraduate degree from Rutgers University.

He will manage 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, Pimco New York Municipal Income Fund III and Pimco Municipal Advantage Fund Inc.

Pimco is a fixed-income fund-management company based in Newport Beach.

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