Pimco makes big mortgage debt bet

Newport Beach, California-based Pacific Investment Management Co, known as Pimco, has switched gears to make a big bet on mortgage debt, almost tripling its holding of it to make up more than 60% of its $130 billion Pimco Total Return fund.

In May, Pimco also bought the mortgage-backed securities portfolio from Bank Hapoalim, Israel's biggest bank by assets, for $2.55 billion. Hapoalim, which is seeking to stem losses tied to the subprime collapse, will record a pretax loss of $870 million from

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here