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UBS said to close feeder fund

John Paulson

UBS shut down a feeder fund that provided wealthy clients access to billionaire investor John Paulson's Advantage fund due to the high cost of operating that portfolio, two sources said last week.

Allianz: 'The Bill Gross discussion has subsided'

Bill Gross Interview Pic

Chief financial Officer of German insurer Allianz said bond fund manager Pimco, which has seen record outflows since star manager Bill Gross departed last year, is still "the strong bond house it used to be", even as outflows continued at a rate of $32 billion in the second quarter of this year.