Pacific Income Advisers was founded on September 4th, 1986, by Lloyd McAdams and Heather Baines and the firm began managing fixed income portfolios in January of 1987. Lloyd was previously the Chief Investment Officer at Security Pacific Investments and prior to that had been a Vice President at Trust Company of the West and a portfolio manager for the Consolidated Retirement System for the State of Tennessee. Heather came to PIA from Security Pacific Investments, where she was a Senior Vice President.
The foundation of the firm’s core fixed income investment process is Lloyd’s extensive work in yield curve analysis and his background in statistics. This foundation is unchanged, and the firm continues to refine its understanding of risk to better meet the needs of our clients through various offerings in the traditional fixed income space.
Additionally, members of the PIA team launched Anworth Mortgage Asset Corporation in 1998, which is a publicly traded REIT that purchases and sells mortgage-backed securities on a leveraged basis (NYSE – ANH). PIA elected to consolidate Anworth Management, LLC under PIA’s registration in 2012. In recent years, PIA has launched PIA Farmland, Inc., a privately traded REIT that invests in farmland. These additions have allowed the firm to continue to develop client-centric income solutions as investors adapt to a changing economic landscape.
Today, PIA continues to provide professional investment management services for public funds, Taft-Hartley plans, corporations, insurance companies, endowments, foundations and private clients. PIA remains 100% owned by active employees, and we are very proud of the continuity of our employees and their dedication to our clients. Since inception, the PIA mission has not changed.