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Pimco's new bond chief is red hot, attracting billions in cash

Almost no comparable bond fund has matched the return of his Pimco Income Fund over the past three and five years.

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A trader at the New York Stock Exchange; the Pimco Income Fund returned 2.75 per cent since Nov 8 compared with a 1.8 per cent loss for the Bloomberg Barclays US intermediate-term bond aggregate.

AFTER star money manager Bill Gross left in 2014, Pacific Investment Management Co (Pimco) seemed destined to fade from prominence and become just one of many firms that dot the US bond-industry landscape. But then Dan Ivascyn, the man tapped to replace Mr Gross, got hot.

Real hot.

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