Bond Funds Have Been Borrowing to Boost Returns
The objective: equity-like returns on fixed-income investments.
Just a little bit of leverage helps the returns go up.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
For more than two decade, Bill Gross did the seemingly impossible, according to Bill Gross.
"From the 1980s through the 2000s, Mr Gross achieved returns at or near double digits, which are typically only seen in the far riskier equities markets," says Gross's blockbuster complaint against Pimco.