Tags: Gross | Pimco | Return | Fund

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

Tuesday, 05 June 2012 10:42 AM EDT

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 2024 Bloomberg News. All rights reserved.


188
2012-42-05
Tuesday, 05 June 2012 10:42 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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