Pimco Total Return - As Brian and Peter pointed out in a sister post, the Bill Gross-led Pimco Total Return Fund (PTTAX) took a fall Wednesday of 5.26%, or 60 cents, to $10.80 a share.
Interestingly, two rival bond funds barely skinned their knees.
The DoubleLine Total Return Fund (DBLTX), led by mortgage meltdown star manager Jeffrey Gundlach, slipped just 0.09% on the day.
At the same time, Gundlach’s old charge — the TCW Total Return Fund (TGLMX) — was down by only slightly more, some 0.20%.
Even the index-bound iShares Barclays Aggregate Bond ETF (AGG), a proxy for the benchmark that PTTAX aims to beat, lost just 0.48% on the day.
I’ve got a call into Pimco but probably won’t hear back until the morning. I’ll provide an update as more information becomes available.
Pimco Total Return