PIMCO flagship fund cuts mortgages, ups Treasury holdings in January

NEW YORK Mon Feb 11, 2013 4:10pm EST

NEW YORK Feb 11 (Reuters) - The PIMCO Total Return Fund, the world's largest bond fund, decreased its mortgage holdings and increased its Treasury exposure in January, data from the firm's website showed on Monday.

The fund decreased its exposure to mortgages, its largest holding, to 37 percent in January from 42 percent the previous month. The fund also increased its Treasury holdings to 30 percent from 26 percent.

The fund, which is the flagship of the Newport Beach, California-based Pacific Investment Management Co, has $285.6 billion in assets. It is run by PIMCO founder and co-chief investment officer Bill Gross.