Former PIMCO Managers Launch Harness Absolute-Return Fund

Harness Investment Management Group, founded by two former PIMCO executives Andre Mallegol and Don Yocham, have launched the Harness Absolute Return Fund. Using a top-down global macro context combined with nimble attention to secular trends and near-term opportunities, the fund aims to return absolute returns above inflation, as measured by the Consumer-Price Index.

This is the firm’s first absolute-return mutual fund, although it has been offering absolute-return managed accounts for the past three years.

“This fund is an alternative to conventional investment approaches, attempting to provide a solution for investors concerned about achieving their own goals rather than the goals of their peers,” said Portfolio Manager Don Yocham. “Our fund is designed for those investors who place value in our ability to exercise judgment regarding near-term and long-term investment opportunities in absolute, not relative, terms.”