pimco

BIG INTERVIEW

PIMCO's Bill Gross has likened the recent sell-off in bonds to the "Battle of the Somme", but said the group is well positioned to fight on in future.

Bill Gross' $268bn PIMCO Total Return bond fund saw record outflows of almost $10bn in June as investors' flight from fixed income continued in earnest, according to reports.

Leading strategic bond fund managers have cut their aggressive shorts on US treasuries, on the expectation the Federal Reserve may postpone plans to scale down QE if growth and inflation continue to undershoot.

GLG is to launch a global total return fund targeting LIBOR + 5% after expanding its macro investment team.

Bill Gross, the manager of the world's largest bond fund, has told investors selling treasuries they could be left disappointed if they overestimate the speed with which the Fed will wrap up QE.

Over the past month losses have racked up across bond sectors after comments from the Federal Reserve signalling the end of quantitative easing spooked global markets.

Bill Gross's $285bn Pimco Total Return fund led falls among the world's most popular bond portfolios after the Federal Reserve prompted a global sell-off by indicating it may start tapering its QE programme.

The continued weakness of sterling against the US dollar has prompted fund buyers to move out of sterling-hedged share classes and into unhedged or dollar-denominated positions.

A look at what might be on the regulatory horizon for wealth managers was a story which caught our readers' attention this week.