Pacific Investment Management Co.’s Bill Gross reduced holdings of Treasuries and other U.S.- government-related debt in his flagship fund in August to 35 percent, the lowest level since March.
The proportion of U.S. government and related debt in the $251 billion Total Return Fund dropped from 39 percent in July, according to data on Pimco’s website. The Newport Beach, California-based company doesn’t comment directly on monthly changes in holdings or specific types of securities within a market sector.
The Total Return Fund dropped more than $41 billion, or 14 percent of its assets, in the past four months through losses and investor withdrawals. The fund suffered $7.7 billion in net redemptions in August, the Chicago-based researcher Morningstar Inc. said Sept. 4 in an e-mailed statement, the fourth straight month of withdrawals and the second highest amount this year.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.