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Rating:WSJ Looks at How the Biggest Bond Funds Have Fared
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Monday, December 20, 2010

WSJ Looks at How the Biggest Bond Funds Have Fared

News summary by MFWire's editors

Investors are fleeing bond funds as major players within the space continue to report declines, the Wall Street Journal reports.

In fact, investors pulled $5 billion out of bond funds during the week ended Dec. 15, contributing to the five-week total outflow of a record $7.6 billion, according to EPFR Global, a Boston fund-flow tracker.

WSJ notes that the five biggest bond funds have fared poorly lately, though they are still up for the year. From November 4 to December 17, the $250 billion Pimco Total Return Fund [see profile] lost 3.42 percent, compared to a 2.51 percent loss in the BarCap U.S. Aggregate Bond Index, according to Morningstar. The second largest bond fund, the $89 billion Vanguard Total Bond Market Index Fund [see profile] lost 2.64 percent and the fourth largest bond fund, the $38.4 billion American Funds Bond Fund of America Fund [see profile] lost 2.79 percent.

The third largest bond fund, the $43.7 billion Templeton Global Bond Fund, lost 1.29 percent. For its part, the $38.3 billion Vanguard Short-Term Investment Grade Fund, which lost 0.91 percent.

Templeton Global Bond Fund's portfolio manager Michael Hasenstab told the pub that the fund doesn't hold any Treasurys and continues to hold a negative view of them and Kenneth Volpert, head of Vanguard's taxable-bond group, said the losses in Vanguard's bond funds were due to a rising-rate environment.  

Edited by: Hung Tran

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