Gross’s Total Return Among Worst Performing Amid Selloff

Bill Gross’s $285 billion Pimco Total Return Fund led declines among the most-popular bond mutual funds after the Federal Reserve sparked a global selloff by indicating it may start reducing asset purchases.

Gross’s flagship, the world’s largest mutual fund, lost 1.6 percent from June 18 through June 20, the day after the Fed outlined its exit scenario, and was down 2.8 percent for the year, the worst of 19 U.S. total return funds with at least $2 billion in assets, according to data compiled by Bloomberg. The $4.2 billion Bernstein Intermediate Duration Portfolio was the third-worst performer this year, after Pimco Total Return and a related fund, falling 2.7 percent.