Bill Gross’s Pimco Total Return Fund, the world’s biggest mutual fund, attracted $231 million in investor deposits in January as performance rebounded. The new money ended three straight months of redemptions from Pimco Total Return, according to data compiled by Chicago- based Morningstar Inc. Investors pulled about $3 billion from the fund in the three months ended Dec. 31, bringing withdrawals last year to $5 billion, the research firm said. The $250.5 billion Pimco Total Return has advanced 2.4 percent this year, beating 99 percent of similarly managed funds, according to data compiled by Bloomberg. [Bloomberg, related]
Feds Say PIMCO Used Performance-Enhancing Odd Lots To Increase Size Of Bond ETF
Lots of portfolio managers do it!