Pimco’s Gross boosts cash | FT Alphaville

Pimco’s Gross boosts cash

Bill Gross, who runs the world’s biggest bond fund, at Pimco, cut holdings of government debt in November and boosted cash to the most since Lehman Brothers collapsed in late 2008, reports Bloomberg. Gross increased cash in the $199.4bn Total Return Fund’s to 7% in November from negative 7% in October, and reduced government-related securities to 51% from a five-year high of 63% in October, according to Pimco’s website.