What's Bill Gross
up to lately? His Pimco Total Return Fund
] decreased its holdings of U.S. Treasurys in May by 2 percentage points to 37 percent, reported CNBC
. Pimco increased its Treasury holdings in April to 39 percent. In March the holdings were at 33 percent.
In a letter to clients, Gross said that Treasurys 'are better than the alternative (cash) as long as central banks and dollar reserve countries (China, Japan) continue to participate.'
The fund also decreased its holdings of investment-grade credit to 6 percent in May from 7 percent. the fund cut its holdings of debt issued in developed markets to 7 percent from 10 percent. The fund suffered its first outflows in May since December 2011.
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