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Pimco’s Gross Betting $200 Million on Low Interest Rates

Bill Gross has wagered almost $200 million of his own money on a bet that interest rates will stay low.

Gross, who has an estimated net worth of $2 billion, poured almost $60 million of his wealth into closed-end funds in May and June, adding to the about $140 million he already had in such holdings, according to data compiled by Bloomberg. The chief investment officer of Pacific Investment Management Co. has been buying the funds on the belief that they will do well in a world of a low interest rates that he predicts.