Bill Gross, who runs the world’s largest mutual fund at
Pacific Investment Management Co., received a U.S. patent for the methodology
behind a global bond index that weighs countries by the size of their economy
rather than their indebtedness.
The patent for the construction of the Global Advantage Bond
Index was granted last month to Pimco founder and co-chief investment officer
Gross, along with Ramin Toloui, global co- head of emerging markets portfolio
management, said Mark Porterfield, a Pimco spokesman. By focusing on gross
domestic product, the index avoids concentrating on countries saddled with debt
and offers a greater weighting for developing markets….
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