Gross Boosts Treasuries, Non-U.S. Debt, Cuts Cash Holdings

Bill Gross, who runs the world’s biggest debt fund at Pacific Investment Management Co., increased holdings of Treasuries and bonds outside the U.S. last month while cutting money-market securities.

Gross boosted his $243 billion Total Return Fund’s investment in U.S. government securities to 8 percent of assets in June from 5 percent in May, according to Newport Beach, California-based Pimco’s website. Bonds in developed markets outside the U.S. rose to 13 percent of holdings from 10 percent. Cash and equivalents dropped to 29 percent from 35 percent.