Pimco to launch money market funds

Pacific Investment Management Co. of Newport Beach, Calif., has filed with the Securities and Exchange Commission to launch the Treasury Money Market and Government Money Market funds. Pimco currently offers one prime money market fund, the $626.3 million Institutional Money Fund (PMIXX). The new funds will be overseen by managing director Paul McCulley, who is also the portfolio manager of the Institutional Money Fund. A date for the launch has not yet been determined. Pimco made the filing with the SEC Jan. 16. As of Sept. 30, 2008, Pimco had $790 billion in assets under management.