Bloomberg News

Bill Gross ETF Hits $1 Billion in Less Than Three Months

May 22, 2012

Bill Gross

Bill Gross, co-chief investment officer of Pacific Investment Management Co. (PIMCO). Photographer: Andrew Harrer/Bloomberg

Bill Gross’s exchange-traded fund attracted $1 billion in less than three months since its start.

The Pimco Total Return ETF (BOND:US), which began trading on the NYSE Arca exchange on March 1, had $1.01 billion in net assets as of yesterday’s close, according to Pacific Investment Management Co.’s website. The fund advanced 4.8 percent through today, compared with the 1.9 percent return (PTTRX:US) for Gross’s $259 billion Total Return mutual fund, according to data compiled by Bloomberg.

Pimco, based in Newport Beach, California, started the active ETF to blend the trading flexibility of ETFs with Gross’s bond-picking prowess. Last month the firm began an actively managed ETF that invests in global inflation-linked government bonds denominated in local currencies, bringing the total number of actively managed ETFs at Pimco to six. Its Enhanced Short Maturity Strategy Fund has $1.65 billion in assets.

Barrons.com reported earlier today that the Total Return ETF had accumulated $1 billion.

To contact the reporter on this story: Alexis Leondis in New York aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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Companies Mentioned

  • BOND
    (PIMCO Total Return Active Exchange-Traded Fund)
    • $108.94 USD
    • -0.94
    • -0.87%
  • PTTRX
    (PIMCO Total Return Fund)
    • $11.0 USD
    • -0.01
    • -0.09%
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