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Tuesday, December 24, 2013

A Fund Gets Gross

News summary by MFWire's editors

The Bond King is taking the throne, again.

Pimco co-founder Bill Gross has taken the helm of the PIMCO Unconstrained Bond fund, replacing manager Chris Dialynas, who will begin a sabbatical in March 2014. (likely for a year) but that he would immediately depart this fund.

Morningstar analyst Eric Jacobson had this to write on the subject:

PIMCO says there are no changes planned for the fund, but Gross admits that Dialynas is probably more conservative than he is. It will be worth watching to see whether that difference manifests itself here in more-aggressive bets, higher returns, more volatility, or all of the above. For now, at least, it's hard to argue against more attention from Bill Gross; the fund therefore retains its Bronze Analyst Rating.

Jacobson writes that Dialynas has taken sabbaticals before, but speculates that Pimco may be seizing an opportunity to tweak the fund. Dialynas has already departed from managing the fund.

Read more in Morningstar

Edited by: Tommy Fernandez

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