Pimco Total Return attracted $1.7B in first quarter

MAY 14, 2012
By  Bloomberg
Bill Gross' Pimco Total Return Fund, the world's biggest mutual fund, attracted $1.7 billion in investor deposits in the first quarter as performance rebounded. The last time the fund gained was in the third quarter of 2011, when it brought in $2.3 billion, according to data compiled by Morningstar Inc. Investors pulled about $3 billion from the fund in the three-month period ended Dec. 31, bringing withdrawals last year to $5 billion, Morningstar said. The $252 billion Total Return Fund (PTTAX) has advanced 2.9% this year, beating 97% of similarly managed funds, according to data compiled by Bloomberg. The fund last year gained 4.2%, lagging behind 69% of its peers, after Mr. Gross missed a rally in U.S. Treasuries and put money into riskier assets. Mr. Gross, who eliminated Treasuries from his portfolio in February 2011, had been increasing his holdings of the securities until February, when he reduced the proportion of U.S. government securities to 37% of assets, from 38% in January, according to the Pacific Investment Management Co. LLC website. Investors put a net $6.4 billion into Jeffrey Gundlach's DoubleLine Total Return Bond Fund (DBLTX) in the first quarter, following deposits of $3.6 billion in the fourth quarter, according to Morningstar. Mr. Gundlach's fund has risen 3% this year, beating 97% of rivals, Bloomberg data show.

Latest News

Business-focused wealth tech RISR lands $8B Wealthcare Capital Management partnership
Business-focused wealth tech RISR lands $8B Wealthcare Capital Management partnership

Fintech platform interVal has also introduced a new feature to help advisors support entrepreneurial business owner clients better.

LPL boosts revenue potential with amped-up alts platform
LPL boosts revenue potential with amped-up alts platform

Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.

Powell heads for hot-seat hearings with ongoing pressure from Trump policies
Powell heads for hot-seat hearings with ongoing pressure from Trump policies

The Fed chair is in for some "hyper-charged" meetings, with legislators likely to raise questions on tariff threats and apparent steps to comply with anti-DEI orders.

Financial advisors react to the idea of 'parent money'
Financial advisors react to the idea of 'parent money'

A new article about baby boomers supporting their adult children has wealth managers buzzing.

Revealed: The InvestmentNews Top Advisors for 2025
Revealed: The InvestmentNews Top Advisors for 2025

Driven by long-term vision and a steadfast commitment to client service, the top-ranking advisors are reaching new heights of success.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.