Pimco: Totally ReturnedBy
After an annus horribilis that Bill Gross, Pacific Investment Management’s star manager, called a “stinker,” Pimco’s flagship Total Return Fund, the world’s biggest, has swelled to a record $259 billion, the company reported on May 2. According to Bloomberg, Gross’s mega-fund attracted $2.7 billion of investor deposits in April and has returned 4.4 percent this year, beating 98 percent of its peers. Size be damned: The yoga devotee has steered Total Return to a five-year performance of 8.66 percent per year, which was in the 98th percentile of its peer group.
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