PIMCO's Gross raises Treasuries in flagship fund
NEW YORK, July 12
NEW YORK, July 12 (Reuters) - Bill Gross, the manager of the world's largest bond fund, slightly increased exposure to Treasuries and bulked up his stake in non-U.S. debt in June, according to PIMCO's website on Tuesday.
Gross' $243 billion Total Return Fund (PTTRX.O) held 8 percent in U.S. Treasuries and Treasury-related securities as of the end of June 30, up from 5 percent as of the end of May.
The Government Treasury classification in Gross' flagship fund includes fund holdings of U.S. Treasury notes, bonds, futures and inflation-protected securities, Pacific Investment Management Co said.
Gross, who also helps oversee $1.2 trillion in assets as co-chief investment officer at PIMCO, increased its stake in non-U.S. debt in June for a second consecutive month in June, to 13 percent from 10 percent.
As of June 30, Gross' Total Return fund held a negative 9 percent short position in the newly-created investment category referred to as swaps and "liquid rates," which will include U.S.-dollar-denominated interest-rate swaps, swaptions, options and other derivatives. That position was unchanged from May.
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