Gross May Shift Pimco to Lower Risk Profile in 2013: Tom Keene

Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said the investment company may reduce its risk profile in 2013 after posting higher-than-average returns this year.

With interest rates so low and corporate spreads so tight, “you have to be leery of prices going the other way,” Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene. Newport Beach, California-based Pimco “might begin a shift toward something safer, and something more clean in terms of those dirty-shirt investments.”