PIMCO on a roll

It's been a good year for Pimco. On a relative basis, one could say it's been a great year for the fund giant. The Financial Times notes PIMCO is the only firm among the 25 largest fund groups that has posted a gain in stock and bond assets this year. That says a lot about the environment right now. The big differentiator for Pimco seems to have been a big move into agency bonds of the mortgage-backed variety earlier this year. Meanwhile, Mohamed El-Erian, who cut his teeth at PIMCO before heading the Harvard endowment, will return as CEO. Bill Thompson will step down at the end of the year.

For more:
- here's the FT article

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