Gross Reduces Treasury Holdings in February From Six-Month High
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Bill Gross cut the holdings of Treasuries held in his $288 billion flagship fund at Pacific Investment Management Co. to 28 percent of assets in February, after reaching a six-month high in January.
Gross reduced the proportion of U.S. government securities in Pimco’s Total Return Fund from 30 percent in January, according to a report on the company’s website. Gross has been advising investors to avoid long-term Treasuries in favor of U.S. five-year notes and inflation-indexed debt as central banks provide unprecedented stimulus.