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Turmoil at Pimco bruises its brand
Turmoil at Pimco bruises its brand

For years, Owen Murray believed that Pacific Investment Management Co. was a safe bet for his clients for one big reason. "They were just very, very consistent," said Murray, investment director at a financial advisory firm for wealthy individuals in Houston. Murray's view was tested the last few years as Pimco's flagship fund lagged behind its peers in producing returns. It was strained further earlier this year as reports of management turmoil filtered into public view. It snapped altogether in September with the dramatic departure of Pimco's co-founder and public face, William H. Gross. Murray moved his clients' money to MetWest Total Return Fund,...

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