Someone Still Believes In Bill Gross

Pacific Investment Management Co. and co-founder Bill Gross got a vote of confidence from owner Allianz as the fund company struggles with subpar investment performance and investor defections. “Pimco is still one of the most successful firms in the market,” Jay Ralph, the Allianz management board member who oversees Pimco, said in an interview on Tuesday…Total Return has seen $55.3 billion in net redemptions since May 2013, more than most U.S. mutual funds hold in assets. Mr. Gross’s performance also has faltered: the fund returned 0.74% in April, while its benchmark, the Barclays U.S. Aggregate Bond Index, returned 0.84%. [WSJ]

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One Response to “Someone Still Believes In Bill Gross”

  1. guest says:

    I'm still pulling for you brother!
    -bob the cat, from the beyond