Gross falls ‘behind 92% of peers' for 2011

Bill Gross' $240bn Pimco Total Return fund has fallen behind 92% of his bond manager peers in terms of calendar year performance.

The world's largest bond fund, managed by Gross, began to suffer earlier this year when he made a high profile bet against US government-related debt, and has struggled again in November. Gross' fund lost 0.45% over the past month, a timeframe during which the Barclays Capital US Aggregate Bond index gained a similar amount, the FT reports, meaning the fund is up 2.1% for the year against a gain of almost 7% for the Barclays benchmark index. Over the past decade Gross remains within the top 5% of bond managers, however. Having earlier denounced the prospects of US government bonds,...