Pimco Mortgage Fund Down Again in Q1
The distressed mortgage fund managed by Pacific Investment Management Co. (Pimco) hasn't shown any signs of improvement in Q1. In fact, it declined ever-so-slightly again, according to confidential fund documents obtained by peHUB. Last month we reported that the fund had earned a return of -34.5 since its inception in October 2007. That included a 25% drop in the fourth quarter. Well, in the first quarter it fell another 12.7%, dropping the total loss to -35.5 percent. The total capital contributions to the fund's offshore feeder is $1.58 billion (the total fund is $2.866 billion). The NAV of those assets is $849 million. The firm's explanation isn't too different from its last one:
21 April 2009•2 mins read
