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The Wall Street Journal: Pimco passed by MetWest as No. 1 active bond fund

Pimco Total Return Fund’s two-decade-long reign as the largest actively managed U.S. bond fund by assets ended in November, another sign of how debt markets have been recast since the financial crisis.

The Pimco fund was dethroned by Metropolitan West Total Return Bond Fund, a rival founded two decades ago by a pair of Pimco veterans and now operated by Los Angeles-based TCW Group Inc.

The MetWest fund has grown by about $10 billion this year and now manages assets of $79.6 billion, surpassing the Pimco fund, with $78.5 billion under management at the end of November, according to Morningstar Inc.

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