World’s Largest Mutual Fund Loses $41 Billion
Pimco’s Total Return Fund, the world’s largest mutual fund, has lost $41 billion since Federal Reserve Chairman Ben Bernanke first announced his intention to end QE in May, 14 percent of the fund’s total value, writes Nick Summers for Bloomberg Businessweek. The Federal Open Market Committee (FOMC) is set to meet on September 17 and 18, and many analysts expect tapering to begin by the end of this month . . .
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