Pimco Reduces Government Holdings, Adds to Mortgages
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Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., cut holdings of government-related debt and bought more mortgages in September.
The $252 billion Total Return Fund’s investment in government debt was cut to 33 percent of assets, from 36 percent the previous month, according to the website of Newport Beach, California-based Pimco. The fund boosted mortgages to 28 percent of assets, from 21 percent. Pimco doesn’t comment directly on monthly changes in portfolio holdings.