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Rating:Pimco Plans Additional Auction-Rate Buybacks Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, March 13, 2009

Pimco Plans Additional Auction-Rate Buybacks

by: Armie Margaret Lee

In Friday's Wall Street Journal Fund Track column, Lauren Pollock reports that five closed-end Pimco funds will buy back an additional $225 million in auction-rate securities. This comes in the wake of an announcement last month that the funds planned to buy back about $342 million of the securities.

The buybacks mark a departure from Pimco's earlier stance. It had refused to redeem the securities for months after the auction-rate market froze last year.

In the second portion of Fund Track, Morning Zhou reports that SPDR Gold Shares' holdings touched a record high of 1,038 tons on Wednesday. 

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