Fundsters who keep an eye on Bill Gross' $237 billion Pimco Total Return Fund [see profile] will soon have a new version to watch. Bloomberg reports that the bond mutual fund titan filed to launch a fourth Total Return Fund, one that doesn't invest in high-yield debt or options and doesn't borrow to create leverage.

This is not the first time that Gross has offered investors an alternate version of his famous flagship. According to Bloomberg, Total Return II and Total Return III both launched in 1991. II, like the planned IV, can't invest in high-yield bonds, while III is a socially conscious version.

Bloombeg argues that the new fund may be more appealing to more convservative investors. 

Edited by: Neil Anderson, Managing Editor


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