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<p>[QUOTE=&quot;Juan Blanco, post: 1573961, member: 41665&quot;]ABSOLUTELY, Clint! But the thing is </p><p>1) Many 401k participants aren&#039;t spending an extra $100./year for a brokerage window which can be limited, restricted to mfs, etc.</p><p>2) Some investors are still ONLY choosing mfs (various reasons) or ONLY get that &#039;choice.&#039; </p><p>3) There are a variety of investment products layered on the &#039;fund&#039; - including variable annuities - which offer no access to GLD or such small niche asset classes.</p><p><br /></p><p>I think the very name is misleading; &#039;PIMCO Commodity Real Return&#039; is a <i>tactical opportunity </i>or <i>&#039;bond plus&#039; </i>strategy fund that&#039;s more gimmick than commodities or Gold. The behemoth size ($23 Bln) of this &quot;commodity fund&quot; -which ISN&#039;T, really- is especially problematic and indicative of numerous shortcomings in the fund industry. But that&#039;s why I call my industry &quot;the fund racket.&quot; </p><p><br /></p><p>I have the utmost respect for Bill Gross and Mohamed El-Erian (the Warren Buffett &amp; Bill Miller of the Bond world) but this particular &#039;ploy for assets&#039; disappoints me. I do suppose this signifies greater institutional interest in Gold, but why should investors be deceived thusly? </p><p><br /></p><p>Although our firm recommened other PIMCO offerings as far back as the early 1990s, I became aware of Bob Greer&#039;s fund through our competitor&#039;s study for him. Though slightly dated, it&#039;s still must-read analysis and justification for commodity exposure in asset allocated portfolio. </p><p><a href="http://media.pimco-global.com/pdfs/pdf/Ibbotson Strategic Asset Allocation and Commodities 2006 Global.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://media.pimco-global.com/pdfs/pdf/Ibbotson Strategic Asset Allocation and Commodities 2006 Global.pdf" rel="nofollow">http://media.pimco-global.com/pdfs/pdf/Ibbotson Strategic Asset Allocation and Commodities 2006 Global.pdf</a></p><p><br /></p><p>The take-away here? I&#039;m preaching to the choir, but <b>holding your own bullion guarantees you <i>actually have </i>a real asset </b>and hedge against paper asset classes in your IRA/401k/pension fund.&nbsp; Although the PM ETFs (Like GLD) might be an acceptable alternative for now, do <u>watch out</u> for any &#039;commodities-focused&#039; fund that&#039;s just a gold-plated excercise in marketing. Or worse... potentially duplicating your exposure to TIPs. I&#039;m not sure that investors want to double down there, but owning this PIMCO fund DOES raise that risk. Please, look under that hood! </p><p><br /></p><p>Another point (positive correlation?): watch these <i>major &#039;commodity&#039; fund managers </i>jump in and out of Gold if you want a sense &#039;what direction POG the experts think.&#039; THAT, against inventory at APMEX, might be more telling.[/QUOTE]</p><p><br /></p>

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