Morningstar upgrades PIMCO's flagship bond fund rating four years after Gross departure

Once the world's largest bond fund

Morningstar has upgraded the PIMCO GIS Total Return Bond fund, four years after it was downgraded following the departure of its manager Bill Gross.

The $60bn PIMCO bond fund, which was once the world's largest bond fund reaching a peak of $292bn, was placed under review immediately following the departure of founder and chief investment officer Gross to Janus Capital (now Janus Henderson Investors) in September 2014. He had run the fund since it was launched in 1987.  It was downgraded from Gold, the highest rating, and placed under review, as the ratings agency was uncertain about how the new management would work together, before being re-awarded with a Bronze rating a short while later. Gross: I was fired by PIMCO However,...