Pimco Loss Is Prudential Fund's Gain as Investors Add $7 Billion
- Prudential Total Return triples assest over past year
- Fund outperforms by buying banks bonds, avoiding energy
Prudential
Photographer: Emile Wamsteker/BloombergThis article is for subscribers only.
The Prudential Total Return Bond Fund has outperformed most of its peers, including the flagship fund at Pimco, over three, five and 10 years. Investors have finally noticed.
The fund’s assets have almost tripled in the past year to $11.6 billion, according to data compiled by Bloomberg. Some of the more than $7 billion in new deposits came from investors fleeing Pacific Investment Management Co.’s Total Return Fund following the sudden departure of Bill Gross.