PIMCO's Gross: Wealthy should consider municipals as tax rates rise

12/16/2012 | AdvisorOne

Bill Gross, PIMCO co-founder and portfolio manager, suggests that wealthy investors consider municipal bonds as an alternative investment as tax rates rise. "Municipals might be part of the tax package so I think an investor has to be leery at least until we see some legislation in 2013 which defines how municipals fit in," he said. He also advises clients to consider foreign municipal bonds.

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