Bill Gross rejiggers some of his family money amid the bond market rout which hit Pimco's...

|By:, SA News Editor

Bill Gross rejiggers some of his family money amid the bond market rout which hit Pimco's closed-end income funds particularly hard thanks to their tendency to trade at wide premiums to NAV. He picked up more than $4M worth of the Pimco Corporate & Income Strategy Fund (PCN) last week, and this week sold shares in the Pimco Municipal Income Fund II (PML) and the Pimco Income Strategy Fund (PFL). Last month, Gross unloaded a stake in another fund - PTY - when it was trading at a 21% premium to NAV.