Bill Gross Set for Record Book as Manager of Biggest Fund in History

Bloomberg reports:

Pimco Total Return Fund, run by Bill Gross since its inception in 1987, is set to become the biggest mutual fund in the industry’s history as individual investors mostly sit out the 2009 stock rally for the safety of bonds.

Based on the pace of current inflows, Gross’s bond fund this month may surpass the record $202.3 billion reached by Growth Fund of America in 2007, according to researcher Morningstar Inc. Total Return managed $199 billion at Nov. 30, while Growth Fund, which buys stocks, had $153 billion.