| NEW YORK, April 4
NEW YORK, April 4 Pacific Investment Management
Co regained its perch as the manager behind the world's largest
actively managed bond fund, data from the asset manager showed
The Pimco Income Fund grew to $79.1 billion in
March, the fund manager said, a figure that tops the TCW Group
Inc's once-largest $78.9 billion MetWest Total Return Bond Fund
The achievement is a milestone for Pimco, whose assets were
shaved after the acrimonious 2014 departure of founder Bill
Low-cost shares of the Pimco Income Fund are up 3 percent
this year and beat the vast majority of peers over 10 years,
according to Thomson Reuters' Lipper research unit.
"At Pimco we don't strive to have the largest funds, we
strive to be the best," Dan Ivascyn, Pimco's group chief
investment officer, said in an emailed statement.
"Our investment process and active management have produced
significant gains for our clients and we believe the current
environment will continue to present more opportunities for
investors who actively pursue them."
Ivascyn manages Pimco Income with Alfred Murata.
Gross ran Pimco Total Return Fund, which was once
the world's largest bond fund at a peak of $292.9 billion in
assets. He and Pimco recently reached a roughly $81 million
settlement of his lawsuit over the terms of his departure.
Investors have fled actively managed funds and moved money
to lower-cost funds that track indexes in recent years. But
fixed-income funds have been a bright spot for the industry,
with active bond funds attracting $72 billion in 2016, compared
to a withdrawal of nearly $358 billion from active stock funds,
according to Morningstar Inc.
Pimco, which managed nearly $1.47 trillion on Dec. 31 and is
based in Newport Beach, California, is a unit of German insurer
(Reporting by Trevor Hunnicutt; Editing by Bill Trott)