Pimco Raises Government Debt Holdings in Flagship Fund
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Pacific Investment Management Co.’s Bill Gross raised the percentage of Treasuries and other U.S. government-related debt in his flagship fund in October after the Federal Reserve unexpectedly maintained its bond purchases.
The proportion of U.S. government and related debt in the $248 billion Total Return Fund climbed to 37 percent from 35 percent the prior month, data on Pimco’s website show. Mortgage debt fell to 34 percent from 35 percent in September. The Newport Beach, California-based company doesn’t comment directly on monthly changes in holdings or specific types of securities within a market sector.