Gross Raises Holdings of Treasuries to Highest Since 2010
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Pacific Investment Management Co.’s Bill Gross, a year after banishing U.S. government debt from the world’s biggest bond fund, increased his holdings of Treasuries to the highest level since July 2010.
Gross boosted the proportion of U.S. government and Treasury debt in Pimco’s $250.5 billion Total Return Fund in January to 38 percent from 30 percent in December, according to a report placed on the company’s website. He raised mortgages to 50 percent, the highest since June 2009, from 48 percent in December. Newport Beach, California-based Pimco doesn’t comment directly on monthly changes in its portfolio holdings.