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Pimco fees come under scrutiny

A debate has arisen over what the US bond giant's total return fund charges investors to oversee and administer its assets

Mr Gross says Pimco executives were secretly raising the fees on its most profitable mutual fund in order to enrich themselves.

WITH the trading desks of investment banks cut to the bone, the ability to pin a fat fee on a fast-growing pile of assets has become the holy grail for financial firms.

Few have proved better at this than the bond giant Pimco and its total return fund, which took in more than US$6 billion