| NEW YORK
NEW YORK Dec 5 The PIMCO Total Return Fund, the
world's largest mutual fund, attracted $2.5 billion in investor
cash in November to bring the fund's assets to $285 billion,
according to fund research firm Morningstar Inc on Wednesday.
PIMCO's flagship fund, run by founder and co-chief
investment officer Bill Gross, has pulled in $17.1 billion so
far this year. The fund gained a return of 0.55 percent last
month and is up 10.09 percent this year, beating 89 percent of
other intermediate-term bond funds, Morningstar said.
In his December investment letter released Tuesday, Gross,
68, said that high debt-to-GDP ratios, the economic slowdown in
China, technology's replacement of jobs, and the aging workforce
are "structural headwinds" that could reduce economic growth to
less than two percent in developed economies worldwide.
Pacific Investment Management Co had $1.92 trillion in
assets as of Sept. 30, according to the firm's website.
The DoubleLine Total Return Bond fund, a
competitor to the PIMCO fund, attracted $1 billion in investor
cash in November and $18.9 billion so far this year, bringing
the fund's assets to $36.2 billion.
The fund is the flagship of DoubleLine Capital LP, which
oversees more than $50 billion and is run by prominent bond
investor Jeffrey Gundlach.
The fund, which is this year's fastest-growing mutual fund
according to Morningstar, gained a return of 0.36 percent in
November and is up 8.91 percent so far this year, beating 78
percent of other intermediate-term bond funds.
Since the DoubleLine Total Return Bond fund's inception in
April 2010 through November, it has gained a return of 13.2
percent while the PIMCO Total Return Fund gained 7.6 percent
over that period, according to Morningstar.