May 1, 2014 / 12:27 PM / 5 years ago

Pimco Total Return rises 0.74 percent in April: Morningstar

The headquarters of investment firm PIMCO is shown in this photo taken in Newport Beach, California January 26, 2012. REUTERS/Lori Shepler

NEW YORK (Reuters) - The Pimco Total Return Fund, the world’s largest bond fund run by veteran money manager Bill Gross, rose 0.74 percent in April, trailing 68 percent of its peers, according to preliminary data from Morningstar.

The fund, which has $232 billion in assets and is the flagship fund of Pimco, also trailed the benchmark Barclays U.S. Aggregate bond index’s .BCUSA return of 0.84 percent for the month.

The net asset value of the Pimco Total Return Exchange-Traded Fund (BOND.P), an actively managed ETF designed to mimic the strategy of the flagship mutual fund, rose 0.73 percent last month, trailing 70 percent of its peers.

The roughly $32 billion DoubleLine Total Return Bond Fund (DBLTX.O), a competitor to the Pimco Total Return Fund that is run by Jeffrey Gundlach, rose 0.69 percent in April, trailing 75 percent of its peers, according to the Morningstar data.

Newport Beach, California-based Pimco, or the Pacific Investment Management Co, a unit of European financial services company Allianz SE (ALVG.DE), had $1.94 trillion in assets as of March 31, according to the firm’s website. Gross is the firm’s co-founder and chief investment officer.

The Los Angeles-based DoubleLine Capital, where Gundlach is chief executive officer and chief investment officer, has $49 billion in assets.

Reporting by Sam Forgione; Editing by Chizu Nomiyama

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