Bill Gross, managed of the PIMCO Total Return Fund, has expanded his U.S. government debt exposure from 15% in February to 28% in March.

Gross makes the move into debt as the government as the Federal Reserve has announced plans to buy up to $300 billion in Treasuries to support the credit markets. Thus, as Reuters reports, Gross isn’t likely purchasing Treasuries but other debt, such as interest-rate swaps, agency debt and corporate bonds insured by the Federal Deposit Insurance Corp.

The PIMCO Total Return Fund is up 1.9% so far this year, outpacing other bond funds by 1.63 percentage points and its benchmark by 1.90 percentage points, according to Morningstar.

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