What's the biggest mutual fund in the world? Until very recently, the answer would have been the Pimco Total Return Fund, managed by bond guru Bill Gross. It notched the distinction of having the most assets of any mutual fund back in 2008, and more than doubled in size between then and 2012. As of the beginning of this year, the fund boasted $285.4 billion under management.
But this has been a rough year for bond funds, as investors have been rotating back into stocks. The Pimco Total Return Fund has seen redemptions of $33.2 billion so far in 2013. The fund's performance has been deserving of losing that kind of money; it's lagged 56 percent of its peers in the bond-fund universe this year.
So what's overtaken it? The Vanguard Total Stock Market Index has $251 billion in assets as of the end of October. That edges it past Pimco Total Return, which now stands at $247 billion.
No comments:
Post a Comment