Pimco fund reaps $1.7B from betting on Fannie, Freddie rescue

09/10/2008 | Financial Times (free content)

The Pimco Total Return Fund, led by Bill Gross, reaped rewards from investing in agency bonds and betting that Fannie Mae and Freddie Mac would be bailed out by the U.S. government. The fund saw its highest one-day rise against its benchmark index Monday, gaining $1.7 billion after the government takeover.

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