MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 17, 2013 The Fed Took PMs By Surprise Fund managers were surprised by the extent of the June's bond fund bloodbath, but some PMs managed to get out by the skin of their teeth, while others saw hefty outflows, Reuters' Jennifer Ablan, Katya Watchtel and Tim McLaughlin wrote. The average bond fund lost 3.3 percent in June. Loomis Sayles Vice Chairman Dan Fuss bought bonds after yields rose in early May and says he was blindsided by Ben Bernanke's comments. His $23 billion Loomis Sayles [profile] Bond fund is up 1.73 percent, however, compared to the Barclays U.S. Aggregate Bond index which is down 2.45 percent and Barclays U.S. Government/Credit Bond index, which is down 2.55 percent. Doubleline [profile] is down 0.52 percent this year. Its founder Jeffrey Gundlach predicted the 10 year Treasury note would peak at 2.35 percent and end 2013 at 1.7 percent. BlackRock [profile]'s US Government Bond fund lost 1.7 percent in June. Out of all the funds named, Pimco [profile] Total return Fund saw the most losses, down 2.83 percent so far this year. To read more of the WSJ story, click here. Printed from: MFWire.com/story.asp?s=44965 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |