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PIMCO's Amey says rise in UK bond yields "more behind us than ahead of us"

LONDON Oct 13 One of the world's biggest bond funds said on Thursday that a recent rise in UK government bond yields had probably run its course and that the fund had trimmed its holdings of gilts.

"It's possible we get a little bit of a further rise in yields but probably more of it is behind us than ahead of us," PIMCO's head of sterling portfolio, Mike Amey, told Reuters on the sidelines of its investment summit in London.

Amey said he had closed a "long" position in UK government bonds and any decision to increase holdings again would depend largely on the government's fiscal policy. (Reporting by Jamie McGeever; Writing by John Geddie, editing by Anirban Nag)

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