Pimco’s specialist investment-grade corporate bond fund managed to slightly outperform its benchmark – the Barclays US credit index – in losing 1.69% for 2013, when the index was down by 2.01%. But the fund also shed almost half of its assets under management, with a fall from $10.2 billion to $5.6 billion, and there have been further minor outflows this year, despite a relatively solid return of just over 4% for the year to late April.
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