NEW YORK Aug 29 The Pimco Total Return Fund, the world's largest bond fund that is run by Bill Gross, rose roughly 1.1 percent in August to beat 76 percent of peers, preliminary Morningstar data showed on Friday.
The fund, which has $223 billion in assets, has notched that gain for the month through August 28. The Pimco Total Return Exchange-Traded Fund, an actively managed ETF designed to mimic the strategy of the flagship mutual fund, also rose 1.1 percent over the same period, beating 81 percent of peers.
The Newport Beach, California-based Pacific Investment Management Co, a unit of European financial services company Allianz SE, had $1.97 trillion in assets as of June 30, according to the firm's website. (Reporting by Sam Forgione; Editing by Chizu Nomiyama)