Skip to content
Subscriber Only

The Cheap Pimco Fund That Has Gross Reaching for Wallet

Billionaire Bill Gross can’t resist this rarity: A slice of the corporate debt market that still looks cheap.

Gross has been adding to his personal holdings this year in Pacific Investment Management Co.’s $1.5 billion Dynamic Income fund as demand picks up for an asset class that was left for dead in 2013, data compiled by Bloomberg show. The closed-end credit fund is up 16.6 percent in 2014 as the discount between its share price and the assets the fund owns has disappeared.