Mortgage Debt Consolidation

PIMCO s Bill Gross, manager of the world s largest bond fund, is betting big on mortgages. The Financial Times reported last last week that Gross had shifted more than 60 percent of the $130 billion PIMCO Total Return fund he manages into agency-backed mortgage debt during the first quarter, a move that has put the PIMCO fund s returns ahead of 99 percent of its peers. The fund has returned 12.6 percent over the past 12 months, according to Morningstar rankings, and 3.8 percent so far this ye

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