After a rough 2011, January offered a welcome turnaround for Bill Gross
. Min Zeng of Dow Jones reports
that last month Gross' $250.5-billion Pimco Total Return Fund
] returned 2.44 percent, compared to 0.45 percent for its benchmark, and raked in $230.6 million in net inflows, its first positive net flows in four months.
By comparison, last year the fund lagged its benchmark by 3.68 percent and suffered $5 billion in net outflows.
Gross himself did not chime in for the Dow Jones
piece. However, Lipper
research analyst Tom Roseen
did weigh in for the article.
"He made some bad bets on Treasury and he fixed it," Roseen told the wire service. "He is certainly turning the ship around. Now his Treasury position is properly placed and he has been very nimble in picking high-quality emerging market and corporate bond debt."
Neil Anderson, Managing Editor
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