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Friday, November 04, 2011

Bill Gross Redeems Himself

News summary by MFWire's editors

What a difference a month makes. Bill Gross’s Pimco Total Return Bond Fund [see profile], which is having its worst run this year since at least 1995, rose 1.7 percent in the past month, beating 93 percent of its rivals and accounting for almost half of the fund’s 3.6 return so far this year, Bloomberg, reports.

The fund's returns were reportedly helped by a rebound in riskier assets such as corporate credit and non-U.S. holdings. (The fund has 21 percent of assets in corporate debt and 33 percent in securities outside the U.S., and owns inflation-linked bonds.)

“Expectations of gradually higher inflation have favored TIPS versus nominal Treasuries as well as corporate/financial bonds,” Gross told the pub. “In addition, holdings in the U.K. have benefited from their quantitative easing program.” 

Edited by: Hung Tran

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