Pimco Income Passes Total Return as Firm's Biggest Mutual Fund

  • Ivascyn-led fund outperforms and lures new investments
  • Assets at Gross’s former fund have tumbled from 2013 peak

Dan Ivascyn’s Pimco Income Fund is now bigger than Pimco Total Return, the fund founded by Bill Gross that has lost about three-quarters of its assets since its 2013 peak.

Pimco Income had $75.4 billion in assets as of Feb. 28, compared with $74.2 billion for Total Return, according to information posted on Pacific Investment Management Co.’s website Thursday.

Pimco Income returned almost 11 percent in the year through March 1. Started in 2007 and run by Ivascyn and Alfred Murata, it has beaten 99 percent of its peers over the past five years and attracted more net inflows in 2016 than any actively managed mutual fund, according to data compiled by Bloomberg.

Pimco Total Return is up 3.4 percent in the trailing 12 months, outperforming 60 percent of its peers. The fund, once the world’s largest mutual fund, is now co-managed by Scott Mather, Mark Kiesel and Mihir Worah. Ivascyn replaced Gross as Pimco’s chief investment officer in September 2014, when the firm’s co-founder was ousted. Gross now runs the Janus Global Unconstrained Bond Fund.

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