Mohit Mittal is a closed book, especially concerning his private life; there is no single source where he has talked about his family, relationships, or childhood memories. Nevertheless, he has a busy professional life that has attracted the media's attention, enabling us to know a bit more about his work. Since 2019, Mohit has been managing the Total Return Fund, which was once under Bill Gross. By learning most of Bill's fund management techniques, Mohit has set himself apart in the portfolio management sector and has an award to show for it. Check out a few more facts about him.
1. He is on the board of Orangewood Foundation
Mohit is on the board of Orangewood Foundation, but there are no reports about the capacity in which he serves or for how long he has held the position. The foundation dates back to 1981 when two visionaries, Bill Steiner and General William Lyon, felt a need for Orange County to have a facility to care for neglected and abused children. As a result, the organization became the first public-private partnership in the county. It has also evolved to support their care providers.
2. He is charitable
Most of the time, people are accused of preaching water yet drinking wine, but joining a nonprofit board demands being in it for the right reasons. Board Source outlines various reasons why people join such boards; personal benefits and giving back are the primary ones. However, charitable organizations do not usually pay their board members; hence Mohit must have compassion for the foster children thus saw it fit to join the board of Orangewood Foundation.
3. He got his master's degree from the University of Pennsylvania
Mohit wanted to get the best education in his field of study when he enrolled in Wharton School of the University of Pennsylvania to study for his master's degree. The institution is acclaimed as being more prestigious than Harvard since it has a much better reputation in the technical areas of finance, such as programming. Since he has continued to specialize in finance, Mohit cannot regret spending two years at the university to obtain his MBA.
4. He studied for his undergraduate degree in Delhi
Mohit's need to equip himself with unrivaled technical skills is also evident in the choice of school for his undergraduate studies. The fund manager chose the Indian Institute of Technology, Delhi, to obtain his computer science undergraduate degree. The institution dates back to 1961 when it was also formally inaugurated. It ranks second among the top universities in India; worldwide, it sits at #182 while in Asia, it is ranked 18.
5. He has been working for PIMCO since 2007
Staying in one company for too long can have downsides, especially if there are no growth opportunities in sight. If the only way to climb the ladder is to resign, then you are stuck with a dead-end job. Luckily, despite Mohit being at PIMCO for over a decade, he has continued to climb the ladder, informing his decision to remain with the firm to date.
6. He was always seen as the rising star by the executives at PIMCO
In 2015, 51% of employees claimed they would quit their jobs if they felt unappreciated by that figure went up to 66% in 2017. Appreciation is usually a deep craving in all of us, and Mohit can be grateful that PIMCO has always seen how much he does for them. Consequently, the senior management has been praising him as one of the rising talents, and it was more than empty words considering the promotions he has undergone over the years. Mohit was charged with handling the interest rates and derivatives desk, but with time, he has been promoted to be the head of the U.S. investment-grade and two more desks.
7. He won a Morningstar award
In mid-June 2020, Morningstar, published a list of nominees for the Morningstar Awards for Investing Excellence. The awards seek to recognize portfolio managers, up-and-coming managers, and asset management firms that put their investors' interests first through their excellent investing skills. The awards were classified into three categories: rising talent, exemplary stewardship, and outstanding portfolio manager. Mohit was among the four nominated managers under the Rising Talent category. A week later, he emerged the winner, affirming the belief his executives had about him being a person to watch out for in future.
8. He was a brilliant student
If you thought trying to get into Harvard was hard, you should apply for admission into the Indian Institute of Technology Delhi. Movies have always depicted Indians as the ones behind the most technical professions, such as engineering, and maybe now we can understand why. Harvard has an acceptance rate of 5.8%, whereas IIT's is 0.5%. However, IIT Delhi has an acceptance rate of less than 0.1%, and the joint entrance Examination (JEE) is the toughest exam in the world. Despite the difficulty, Mohit successfully enrolled for his undergraduate degree. Besides, the fact that he was accepted into Wharton school is proof that he was a smart student.
9. He co-manages a Long Duration Fund
According to UK Day to Day, Mohit co-manages the StocksPLus Duration Fund with two other managers. The fund prides itself as being the best among its peers since, in the years 2016, 2017, and 2019, it beat 99% of them. He also predicts that the fund will beat the S&P 500 every year by 3-4%, using his investment strategy that involves passively investing at least 50% in the S&P 500 futures. The rest of the money is tied up in investment-grade credit and long term treasury bonds.
10. He is a private person
Mohit Mittal is one of those high-flying employees who will never let the limelight get to his head. Despite being the manager of a fund worth billions of dollars, Mohit has managed to keep his private life out of the media. Therefore, there is not even a Wikipedia page for the portfolio manager; neither are there social media pages to get a glimpse into his life beyond the office.
Written by Allen Lee
Read more posts by Allen Lee