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Wednesday, September 05, 2012

Gross Reels In Billions

News summary by MFWire's editors

The money keeps rolling in to Pimco's [profile] Total Return Fund. Min Zeng of the Wall Street Journal writes that Bill Gross' flagship fund took in $1.3 billion in August, bringing the fund's total inflows this year to $9.3 billion.

For those who don't keep track of the bond king's daily comings and goings, the WSJ piece continues with a discussion of Gross' investment strategy and his fund's recent performance. A quick rundown:

  • The Total Return Fund is up 8.12 percent this year through September, beating its benchmark's 3.85 percent return;
  • Gross is betting on mortgage-backed securities and TIPS, fearing both long-run inflation and turmoil in Europe;
  • and he expects further action from the Fed. 

    Edited by: Chris Cumming

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