Tags: Gross | Pimco | Return | Fund

Bill Gross’ Pimco Total Return Fund Draws $124 Million in May

Tuesday, 05 Jun 2012 06:42 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Bill Gross’ Pimco Total Return Fund, the world’s biggest mutual fund, attracted $124 million in May, according to Morningstar Inc., as it outperformed its peers.

The fifth straight month of net deposits followed the addition of $2.7 billion the previous month. The fund’s assets climbed to a record $258.7 billion in April. Investors pulled about $3 billion from the fund in the three months ended Dec. 31, bringing withdrawals last year to about $5 billion, said Chicago-based Morningstar.

Pacific Investment Management Co.’s Total Return Fund has advanced 5.6 percent in 2012, beating 98 percent of similarly managed funds, according to data compiled by Bloomberg. This year investors added a net $4.5 billion, Morningstar’s data show.

Gross, who eliminated Treasurys from the fund more than a year ago, reversed his position and boosted the portion of assets in U.S. government and Treasury debt to 38 percent as of the end of January. He reduced Treasurys to 31 percent and held 53 percent of assets in mortgages as of April 30, according to Pimco’s website.

Pimco, based in Newport Beach, California, is a unit of the Munich-based insurer Allianz SE.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved