Bill Gross wins October

Bill Gross wins October
Pimco led all firms in inflows for the month, and the flagship Total Return Fund led all funds.
NOV 21, 2012
Bill Gross may have lost his claim to the bond king crown when he stumbled in 2011, but this year, he's gone a long way toward reclaiming that mantle. His flagship Pimco Total Return Fund led all funds, with $2.4 billion of inflows in October, and helped propel Pacific Investment Management Co. LLC, which he co-founded, to more than $8 billion in inflows, edging out The Vanguard Group Inc. as the top-selling mutual fund firm for the month, according to Morningstar Inc. Performance of the Total Return Fund ticker:(PTTAX) has been the biggest driver of its growth. The fund's 9.49% year-to-date return through Oct. 31 put it back in the top 15% of all taxable-bond funds this year, after falling to the bottom 10% last year. The exchange-traded-fund version ticker:(BOND) has performed even better. Since its inception March 1, it's outperformed the mutual fund by about 600 basis points. The performance difference has narrowed to just over 100 basis points over the past three months, but 100 basis points of outperformance in a bond fund is nothing to sneeze at. Jeffrey Gundlach, the other claimant to the title of bond king, had an excellent month, as well. His DoubleLine Total Return Fund ticker:(DBLTX) took in $1.9 billion in inflows and still is the best-selling fund of the year, with almost $18 billion of inflows through the end of October, according to Morningstar. Though it's winning the sales battle with the Pimco fund, DoubleLine's offering has trailed in the performance category, with an 8.52% return year-to-date through Oct. 31. That puts it squarely in the top quartile of taxable-bond funds.

Latest News

Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney
Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney

Nine-month electronic trading freeze and share lending program at the center of dismissed claim.

RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone
RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone

Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.

Rethinking diversification amid a concentrated S&P 500
Rethinking diversification amid a concentrated S&P 500

With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.

Merrill pays second settlement to former Miami Dolphins player, client of ex-broker
Merrill pays second settlement to former Miami Dolphins player, client of ex-broker

Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.

Schwab touts AI as its biggest growth lever at investor day
Schwab touts AI as its biggest growth lever at investor day

The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline