Tag Archives: BusinessWeek

BusinessWeek – Nick Summers – The World’s Biggest Mutual Fund Takes A $41 Billion Hit – 6 September 2013

Business Week

With investors anticipating the end of the Federal Reserve’s stimulus program, the biggest mutual fund in the world, Pimco’s Total Return Fund, took a $41 billion hit over the past four months after losses and withdrawals, according to Morningstar.

The $292 billion fund has shrunk to $251 billion, a reduction of 14 percent, since May, the month that Federal Reserve Chairman Ben Bernanke told Congress that the central bank’s $85 billion in monthly asset purchases could begin to wind down toward the end of the year. The Federal Open Market Committee’s next meeting is set for Sept. 17 and 18.

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