Pimco loses first place as the largest global mutual fund

on November 5 | in All, Investing, Stock Market | by | with No Comments

Vanguard Total Stock Market Index Fund is now the largest fund in the world.

Pimco Total Return, a fund managed by Bill Gross, is no longer the largest mutual fund in the world, having lost the title last month for the Vanguard Total Stock Market Index Fund, an U.S. investment portfolio that tries to replicate the performance of a reference index.

Since the beginning of the year, the Pimco Total Return fund lost 37.5 billion dollars, ending October with assets worth 247,900 million dollars.

Was so overcome by the Vanguard Total Stock Market Index Fund, which manages an equity portfolio of U.S. companies evaluated at the end of last month in 251 billion dollars, according to a statement sent to Bloomberg by manager Vanguard Group.

Pimco Total Return has become the largest fund in the world in 2008, but this year has been to forget, at a time when investors are quitting their investments on funds that invest in fixed income assets such as bonds, opting for funds investing in equities.

In the American case, investors enjoy essentially the fact that stocks prolong the “bull” (rise) feeling for the fifth straight year, after the crisis of subprime, sustained growth this year by business results and the economic forecasts for next year.

On the other hand, the escape of funds investing in bonds accentuated with the imminent start of the withdrawal of economic stimulus from the U.S. Federal Reserve.

“This is emblematic of the increasing popularity of index funds“, said the spokesman of the Vanguard Group, John Woerth, told Bloomberg.

The Vanguard Total Stock Market Index Fund is a fund that attempts to track the performance of the benchmark index CRSO U.S. Total Market Index, which includes assets traded on the NYSE, Nasdaq, among other indices.

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