May was a tough month for lots of fixed income fundsters, including celebrity PM Bill Gross
. Yet Jeff Gundlach
and Dan Fuss
are still going strong.
Multiple publications noted that Gross' mammoth, $293-billion flagship, the Pimco Total Return Fund
], fell 1.9 percent last month, pushing its year-to-date performance to a drop of 0.15 percent. The plunge is widely attributed to a nearly 60-basis-point rise in 10-year Treasury yields over the course of May and corresponding sales of Treasuries.
that the $117-billion Vanguard Total Bond Market Fund
] is taking an even bigger beating, down 0.82 percent year-to-date as of the end of May. Yet the wire service noted that at least two rival bond fund gurus are doing well. Gundlach's DoubleLine Total Return Bond Fund
] is up 1.56 percent year-to-date and Fuss' Loomis Sales Investment Grade Bond Fund
] is up 1.41 percent.
and the Wall Street Journal
also covered Gross' woes.
Neil Anderson, Managing Editor
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