Tags: Pimco | Total | Return | Fund

Pimco’s Total Return Fund Attracts $1.7 Billion in First Quarter

Wednesday, 04 Apr 2012 06:38 AM

 

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

Bill Gross’s Pimco Total Return Fund, the world’s biggest mutual fund, attracted $1.7 billion of investor deposits in the first quarter as performance rebounded.

The fund last had deposits in the third quarter of 2011, when it brought in $2.3 billion, according to data compiled by Chicago-based Morningstar Inc. Investors pulled about $3 billion from the fund in the three months ended Dec. 31, bringing withdrawals last year to $5 billion, Morningstar said.

The $252 billion Pimco Total Return has advanced 2.9 percent this year, beating 97 percent of similarly managed funds, according to data compiled by Bloomberg. The fund last year gained 4.2 percent, lagging behind 69 percent of its peers, after Gross missed a rally in U.S. Treasurys and put money into riskier assets.

Gross, who eliminated Treasurys from his portfolio in February 2011, had been increasing his holdings of the securities until this February, when he reduced the proportion of U.S. government securities to 37 percent of assets, from 38 percent in January, according to Pimco’s website.

Investors put a net $6.4 billion into Jeffrey Gundlach’s DoubleLine Total Return Bond Fund in the first quarter, following deposits of $3.6 billion in the fourth quarter, according to Morningstar. Gundlach’s fund has risen 3 percent this year, beating 97 percent of rivals, Bloomberg data show.


© 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