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Thanks so much for the replies...

Yes, it's Pimco Total Return Inst. - he also has individual stocks and an S&P Index fund, but weighed more towards Pimco - maybe about 75% in it.

Good to know they are well respected, he's has said that he's done very well with it in the past...thanks for explaining the interest rate connection in relation to investment grade bonds - I'll pass on - he's just getting nervous (probably because they have done him well for a while)

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