Mar 01, 2012
2011 was a dreadful year for PIMCO Total Return. How bad? Of ten major indexed intermediate bond ETFs (all with significant assets), PIMCO beat none of them. These are essentially pure-play segments so this indicates very poor rotation by Gross during 2011. Clearly the main problem was during Q3 when Treasuries (and the US Dollar) rallied very hard against them.
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