Jennifer's Feed
Apr 11, 2014

Loomis Sayles’ Fuss sees little value in bonds, boosts cash in fund

NEW YORK (Reuters) – Dan Fuss, known as the Warren Buffett of bonds, said his $23 billion Loomis Sayles Bond Fund is sitting on more than 20 percent of cash and cash equivalents, its highest level ever, because he sees scant opportunities in the bond market.

“If we saw a lot of value, we wouldn’t have those reserves,” Fuss told Reuters in an interview on Friday.

Apr 11, 2014

El-Erian can’t respond to Pimco’s Gross due to terms of departure-sources

April 11 (Reuters) – Mohamed El-Erian, former CEO of Pimco,
has been unwilling to respond to criticism from the bond
investment firm’s chief investment officer Bill Gross because of
a strict non-disclosure agreement he made with Pimco, according
to two sources familiar with his thinking.

Pimco shocked investors in January when it announced that
El-Erian was leaving the firm. He had been groomed to be
successor to Gross, who is known as ‘The Bond King’ and who
oversees nearly $2 trillion of assets.

Apr 4, 2014

Mercer says terminated Pimco, Western Asset as subadvisers on a bond fund: SEC

By Jennifer Ablan

(Reuters) – Mercer Investment Management Inc has terminated Pacific Investment Management Company LLC and Western Asset Management Company as subadvisers to the Mercer Core Fixed Income Fund, effective immediately, according to an SEC filing on Thursday.

Income Research & Management and Prudential Investment Management Inc will serve as the new subadvisers to the Mercer Core Fixed Income portfolio, the filing added.

Apr 3, 2014

‘Bond King’ Gross writes an ode to his dead cat, Bob

By Jennifer Ablan

(Reuters) – Bill Gross, co-founder of bond fund giant Pimco and widely known as the “Bond King,” has had a rough start to the year.

He’s still dealing with the waves caused by a public falling-out with former heir-apparent Mohamed El-Erian, while in March the flagship Pimco Total Return Fund suffered an 11th straight month of outflows and its performance lagged 95 percent of its peers.

Apr 3, 2014

Pimco’s Gross sees low, mid-single digit returns in 2014

NEW YORK (Reuters) – Bill Gross, manager of the world’s largest bond fund at Pimco, said on Thursday that asset returns will be in the low- to mid-single digits this year despite relatively positive economic growth.

Expectations on return for all unleveraged assets and diversified portfolios that attempt to reduce risk and maximize return will be in the low- to mid-single digits, Gross said in his monthly letter to investors.

Apr 2, 2014

Ackman’s fund up 10.7 percent in first quarter, others hurt by tech drop

By Svea Herbst-Bayliss and Jennifer Ablan

(Reuters) – Activist investor William Ackman, who has spent $1 billion betting that Herbalife is a fraud, delivered double digit returns to his investors during the first quarter even as many rival hedge funds posted only small gains or even losses.

In a note to investors, Ackman reported on Wednesday that his flagship Pershing Square LP fund gained 10.7 percent during the first quarter even after the fund slipped 0.6 percent last month, several people familiar with his returns said. Those people were not authorized to speak on the record.

Apr 2, 2014

Ackman’s fund up 10.7 pct in Q1, others hurt by tech drop

April 2 (Reuters) – Activist investor William Ackman, who
has spent $1 billion betting that Herbalife is a fraud,
delivered double digit returns to his investors during the first
quarter even as many rival hedge funds posted only small gains
or even losses.

In a note to investors, Ackman reported on Wednesday that
his flagship Pershing Square LP fund gained 10.7 percent during
the first quarter even after the fund slipped 0.6 percent last
month, several people familiar with his returns said. Those
people were not authorized to speak on the record.

Apr 2, 2014

DoubleLine Total Return had $263.8 mln of inflows in March

April 2 (Reuters) – The DoubleLine Total Return Fund
, which is overseen by high-profile investor Jeffrey
Gundlach, had inflows totaling $263.8 million in March and $211
million in the first quarter, DoubleLine Capital said on
Wednesday.

Los Angeles-based DoubleLine Capital saw $441.2 million of
net inflows into all of its open-end mutual funds in March and
$486.7 million in the first quarter.

Apr 1, 2014

Pressure rises on Gross as investors pull $3.1 billion from Pimco’s flagship fund

NEW YORK (Reuters) – Investors pulled another $3.1 billion from Pimco’s flagship fund in March, the 11th straight month of outflows from the world’s largest bond fund, and its performance on the month lagged 95 percent of its peers due to a spate of wrong calls by long-time manager Bill Gross.

The latest statistics for the Pimco Total Return Fund, released Tuesday by Morningstar, increase the risk that more money could flee the fund managed by Gross, whose shop has been rattled by a management shakeup and disappointing performance. So far this year, it has generated a total return of 1.29 percent, lagging its performance benchmark by 0.55 percentage point and trailing the returns of 85 percent of its peers.

Apr 1, 2014

Pimco Total Return lags 95 percent of peers in March: Morningstar

NEW YORK (Reuters) – The Pimco Total Return Fund, the world’s largest bond fund run by Pimco co-founder Bill Gross, trailed 95 percent of its peers in March, increasing the risk that more money could flee the firm’s flagship fund in the wake of a management shake-up.

According to preliminary data by Morningstar on Tuesday, the Pimco Total Return Fund was down 0.57 percent in March, and has returned 1.294 percent so far this year.