Bloomberg writes "​Pimco to Expand Money-​Market Funds After Missing 2008 Surge", saying "Pimco, based in Newport Beach, California, filed Jan. 16 with the U.​S. Securities and Exchange Commission to sell shares in the new Treasury Money Market and Government Money Market funds. The funds will cater to institutional investors and will be run by Paul McCulley.... The company, with $​790 billion in assets under management, has one prime money fund, a category that invests in corporate debt. Pimco missed out on the investor rush into funds that focus on government securities after the $​62.​6 billion Reserve Primary Fund suffered losses from the September bankruptcy of Lehman Brothers Holdings Inc." It quotes Peter Crane, "Money-​market funds have had a number of problems. But they were still the single best performing segment of the mutual-​fund business as far as asset growth goes."

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