Oppenheimer Asset Management, a unit of Oppenheimer Holdings, has appointed Tim Pynchon as managing director – portfolio manager for High Yield tax exempt funds, based in the Boston office.
Since 1982, Pynchon has worked in the asset management business. Throughout his career, he has concentrated primarily on high yield tax-exempt fixed income products, serving as a portfolio manager, underwriter, analyst and restructuring specialist.
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Before coming to Oppenheimer, Pynchon served at Pioneer Investment Management, which he joined in 2000. At Pioneer, he was a critical part of a team that launched two closed-end mutual funds and managed those funds’ high yield portfolios. He also was part of the 2006 launch of an open-end pure high yield tax-exempt mutual fund that was made public in 2007.
This fund grew from seed capital of US$3 million to over US$850 million and achieved the highest return of all tax exempt funds as rated by Lipper and Morningstar in 2010.
Before joining Pioneer, Pynchon underwrote high yield tax exempt health care issues at Commerce Capital Markets. He also has been a high-yield analyst and restructuring specialist at Eaton Vance.
"We look forward to the new products that Tim will be tasked with bringing to the Oppenheimer sales force and its clients," said Albert (Bud) Lowenthal, CEO of Oppenheimer.
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