February 11, 2014 / 10:56 PM / 4 years ago

Pimco Total Return lifts U.S. gov't securities stake to 46 pct -website

NEW YORK, Feb 11 (Reuters) - The Pimco Total Return Fund, the world’s largest bond fund, increased its holdings of U.S. government-related securities to 46 percent in January from 45 percent in December, data from the firm’s website showed on Tuesday.

The fund’s stake in U.S. government-related securities in January was the highest since at least June of last year.

The fund, which has $237 billion in assets and is managed by Pimco co-founder and co-chief investment officer Bill Gross, also increased its mortgage holdings to 36 percent in January from 35 percent in December; increased its non-U.S. developed market holdings to 7 percent in January from 6 percent; cut its U.S. credit holdings to 9 percent in January from 10 percent; and reduced its effective duration to 5.05 years in January from 5.37 years.

The fund also showed a negative 8 percent exposure to money market and net cash equivalents in January after showing a negative 6 percent exposure in December.

Pacific Investment Management Co., a unit of European financial services company Allianz SE, had $1.92 trillion in assets as of Dec. 31, 2013, according to the firm’s website.

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