Pimco’s Gross Buys U.S. Debt for First Time in Year |

Pimco’s Gross Buys U.S. Debt for First Time in Year

Jan. 16 (Bloomberg) — Bill Gross, manager of the $132 billion Total
Return Fund, increased holdings of U.S. government bonds for the first
time in a year after missing most of the biggest Treasury market rally
in 13 years.

Pacific Investment Management Co.’s co-chief investment officer held 9
percent of the fund’s assets in U.S. government bonds and so-called
agency debt as of Dec. 31, up from minus 4 percent a month earlier,
according to the Newport Beach, California-based company’s Web site.
Treasuries gained 14 percent last year, outperforming all other asset
classes, according to Merrill Lynch & Co. indexes.

“If we had our druthers, if we went back 12 months and we had known
then what we know now, it would have been all invested in Treasuries,”
Gross said in a Dec. 10 interview on Bloomberg Television. Mark
Porterfield, a Pimco spokesman, said the firm doesn’t comment on fund
holdings.

http://www.bloomberg.com/apps/news?pid=20601213&sid=aUS.VbgJf55U&refer=home

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