Pimco fund outshines most peers in first year after Gross exit
It returns almost 1% through Dec 28, besting 4 of the 5 funds with the largest influx of new money
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INVESTORS who pulled an estimated US$52.7 billion from the Pimco Total Return Fund this year may feel like freeway drivers who changed lanes only to see themselves falling behind traffic.
The erstwhile largest bond mutual fund outperformed 89 per cent of peers in the first calendar year since the ouster of its former manager Bill Gross, returning almost one per cent through Dec 28, according to data compiled by Bloomberg. Among those it bested were four of the five funds with the largest influx of new money this year through Nov 30 that Bloomberg classifies as following total return strategies.
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