New Manager at Pimco is Paying Off

The Pimco Income Fund, managed by Dan Ivascyn, has returned 10.6% over the past 12 months alone and, according to last week’s Bloomberg, investor money is “pouring in at pace unseen by any other actively-managed stock or bond  fund” (according to data compiled by Bloomberg and Morningstar). The fund overtook Pimco Total Return Fund (once the world’s largest) which was run by Ivascyn’s predecessor Bill Gross. According to the article, however, Ivacsyn’s star was on the rise before Gross’s departure and, along with his co-manager Alfred Murata, he made some spot-on, against-the-grain calls last year. These included adding subprime mortgage […]