Pimco Q2 Doesn’t Disappoint, As Much…
We'd hate to let down followers of the Pimco mortgage fund story, so as per usual for the past several quarters, here are the performance numbers on PIMCO Distressed Mortgage Fund I, L.P., a $2.8 billion pool designated to invest in secondary distressed mortgage securities. I'd like to point out first that since our last update of this fund's negative performance, we've learned that Pimco is earning $3 million per quarter to manage the government's commercial paper funding facility (CPFF) program. We've also seen Bill Gross, Pimco's head, come under more criticism for his influence over government policy. On Pimco's mortgage trading activities, he said he "assumes that Pimco traders working on behalf of the government don't talk to their peers trading for Pimco's own accounts, The New York Times reported, adding, "Then again, he said he doesn't know for sure what happens after hours." From the NY Times:
