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Pimco Total Return Fund decreases U.S. government holdings in October

The headquarters of investment firm PIMCO is shown in this photo taken in Newport Beach, California January 26, 2012. REUTERS/Lori Shepler

NEW YORK (Reuters) - The Pimco Total Return Fund, whose long-time manager Bill Gross unexpectedly departed on Sept. 26, ended October with a slight decrease in U.S. government-related holdings and a slight increase in mortgages, the first full month under the portfolio's new three-person management team.

The Pimco Total Return Fund had exposure of 35 percent in October, down from 38 percent in U.S. government-related securities in September and 41 percent in August, according to the Newport Beach, Calif.-based firm's website on Wednesday.

The U.S. government category may include nominal and inflation-protected Treasuries, Treasury futures and options, agencies, FDIC-guaranteed and government-guaranteed corporate securities, and interest rate swaps.



(Reporting By Jennifer Ablan; Editing by Chris Reese)