Our History

Throughout Gurtin’s history, our commitment to putting clients’ needs first — through our specialization in high-grade municipal bond portfolios, innovation, and boutique-level service — has never wavered, and never will.

Our history is rooted in finding opportunity where others see problems and uncertainty. Breaking away from Morgan Stanley in 2008 with $5 billion in assets under management, Bill Gurtin founded Gurtin Municipal Bond Management in the midst of the uncertainty of the financial crisis — pursuing a dream of building the premier tax-exempt municipal bond management firm in the industry and making a commitment to the loyal clients who would make this possible.

Recognizing that striving to exceed clients’ expectations would require doing things differently, that’s exactly what we did: We built a firm focused on putting clients’ needs first and finding innovative ways to manage municipal bond portfolios that could serve as the foundation of their overall investment portfolio.

Similar to an investment portfolio, a company is only as strong as its foundation. To that end, we dedicated the firm’s first 10 years to investing in our people, research, and technology. We set out to attract, train, and retain:

  • Portfolio management and investment research teams equipped to identify creative ways to construct high-grade municipal portfolios capable of preserving the wealth our clients have worked so hard to build
  • A technology team skilled in driving innovation across the firm and building proprietary tools specific to the municipal bond space for greater market visibility and trade efficiency, with the aim of maximizing returns and minimizing fees for our clients
  • Advisory services and client service teams adept at providing the boutique-level service we believe our clients deserve

With this solid foundation in place, the firm again seized an opportunity to redefine excellence in serving our clients, as we became a PIMCO company in January 2019. Today, with the support of one of the world’s premier fixed income investment managers and $38 billion in assets under management across the combined businesses, we continue to seek out ways to raise the bar on municipal bond management for high and ultra-high net worth investors.

Gurtin's History of Municipal Investing


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2008

The Gurtin Group breaks away from Morgan Stanley, launching an independent firm with $5.2 billion in assets
The Gurtin Group's most popular strategy, the Municipal Stability strategy, carries over as the firm's primary municipal offering

2009

Gurtin develops its Credit Databank technology

2010

Gurtin launches the Municipal Opportunistic Value strategy and its first private funds

2011

Gurtin introduces the Municipal Lader strategy
Gurtin develops its Portfolio Optimizer technology
25 full-time employees

2013

Gurtin develops its Muni Exchange technology

2014

Gurtin launches its first mutual funds

2015

Gurtin unveils the Municipal Intermediate Value strategy
50 full-time employees

2017

Gurtin introduces the Municipal Social Advancement Strategy
AUM reaches $14 billion

2018

Gurtin launches Municipal Total Return strategy
65 full-time employees

2019

Gurtin becomes a PIMCO company

As of January 2, 2019

Singular Focus on Municipals

With a deep and focused expertise in one of the most opaque and often misunderstood asset classes, we are passionate about municipal bonds and the investors who rely on them for fixed income. While every client is different, our investment team’s collective decades of experience in analyzing municipal bonds and actively managing municipal bond portfolios give us great insights into the often shared values, goals, and concerns of the country’s wealthiest families and their investment advisors.

Creatively Uncovering Value

Our passion for municipal bond management fuels our creativity and outside the “style” box thinking. Offering more than industry standard laddered portfolios, Gurtin also offers municipal bond strategies that are uniquely focused on minimizing portfolio volatility, as well as credit-based municipal bond strategies that seek to outperform the market by taking an intelligently contrarian viewpoint.

The Support Clients Need

With the belief that there is more to peace of mind than simply being comfortable with your municipal bond investments, we view the client experience as tantamount to investment security and are wholly committed to client satisfaction. By being available and responsive, and providing a customized client experience, Gurtin seeks to ensure that client needs are always being completely met.