Bill Gross buying up Treasuries

Bill Gross raised the holdings of Treasuries held in his $289 billion flagship fund at Pacific Investment Management Co. to 33 percent of assets last month, the highest level since July.

Gross boosted the proportion of U.S. government securities in Pimco’s Total Return Fund from 28 percent in February, according to a report on the company’s website. Gross has been advising investors to buy government debt, including inflation- linked securities and nominal Treasuries as the Bank of Japan (8301) last week became the latest central bank to announce unprecedented stimulus measures.

The world’s biggest manager of bond funds cut mortgage holdings to 33 percent in March, the lowest level since August 2011, from 36 percent in February. Newport Beach, California- based Pimco doesn’t comment directly on monthly changes in its portfolio holdings.

The fund kept holdings of non-U.S. developed nations’ debt at 11 percent last month. Investment-grade credit holdings were also steady at 9 percent.

The BOJ plans to buy 7.5 trillion yen ($76 billion) of bonds a month and double the monetary base, which includes cash in circulation, in two years, the central bank said April 4.

Bloomberg

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