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
Posted on: Sat, 07 Sep 2013 10:39:25 +0000
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