New team bets bonds coming due in 7-10 years will outperform
Sat, Mar 21, 2015 - 5:50 AM
LUSH RETURNS: Pimco's headquarters in Newport Beach, California; its Total Return Fund beat 91 per cent of intermediate bond funds by returning 2.6 per cent from Sept 27 till March 10, according to Morningstar Inc.
THE new managers of the Pimco Total Return Fund have been trumping former boss Bill Gross since he left the world's largest bond fund, boosted by an opposing bet tied to short-term US interest rates.
Following Mr Gross' surprise Sept 26 exit, the trio that took over the...