(Bloomberg) -- Pimco's biggest mutual fund trailed a majority of peers for the second straight year after missing a rally in longer-term bonds and betting incorrectly that inflation would rise.
The $162.8 billion Pimco Total Return Fund, managed by Chief Investment Officers Scott Mather, Mark Kiesel, and Mihir Worah after the surprise departure of Bill Gross on Sept. 26, returned 4.7% in 2014, trailing 53% of comparable funds, according to data compiled by Bloomberg. In 2013, it lost 1.9%, lagging behind 65% of peers.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access