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MWTRX, the next Brokeback Mtn Fund? "asset (fee) flow, ah wish ah could quit yew"

heezsafe
edited May 2016 in The Bullpen
Well, I say, here we go again. A fund has some good LT performance, develops some street cred, the money gushes in and the fund bloat begins:

http://www.pionline.com/article/20160502/PRINT/305029975/tcw-sees-assets-reach-all-time-high-on-bond-fund-growth
TCW's MetWest Total Return Bond Fund had assets under management of $74.6 billion as of March 31, making it the second-largest actively managed fixed-income mutual fund in the world. PIMCO's Total Return Fund remains in the No. 1 position with $89.7 billion. [...] Tad Rivelle, TCW's chief investment officer, fixed income, said institutional separate accounts following the bond fund's strategy account for about $30 billion, a number that has remained relatively stable.
$100B, and the words "soft close" have yet to be even whispered. All the more remarkable, given that portfolio positioning the past 3 years has been ultra-conservative and performance has been less than inspiring.

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