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Wednesday, July 31, 2013|
Bond Fund King Inches Closer to Reclaiming Throne
The bond fund king is beginning to recover after the spring bloodbath that drained his funds significantly, and led to $10 billion of outflows in June.
Pimco [profile] Total Return Fund lost 3.6 percent between April and June, but famed PM Bill Gross gave investors a 0.47 percent in total returns in July through Monday, better than the Barclays Aggregate Bond Index return of 0,14 percent, the Wall Street Journal's Min Zeng reports. In 2013 so far, Gross has lost 2.56 percent, Zeng writes.
Zeng notes that Gross "has taken great pains in recent weeks in reassuring clients to stay on board after the fund suffered an unprecedentedly large net outflow in June–nearly $10 billion."
Gross' oft-perceived blunder on TIPS have been covered widely in the financial media. Gross bet on TIPS and continues to bet on TIPS, at a time when interest rates are expected to rise. Gross, however, has made the argument that the Fed isn't going to raise interest rates significantly soon, as he tweeted Friday.
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Printed from: MFWire.com/story.asp?s=45206
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