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. Total Return Fund performance The Total Return Fund was created by ‘Bond King’ Bill Gross in 1987 and grew to $292 billion before it started contracting earlier this year. It performed…