Can you patent a methodology? Yes, if you're Bill Goss. Wind and water might be next.
PIMCO's Gross (left) received a U.S. patent for the methodology behind a global bond index that weighs countries by the size of their economy rather than their indebtedness, according to Bloomberg.
The patent for the construction of the Global Advantage Bond Index was granted last month to PIMCO's founder and chairmen, as well as Ramin Toloui, global co-head of emerging markets portfolio management.
"By focusing on gross domestic product, the index avoids concentrating on countries saddled with debt and offers a greater weighting for developing markets," according to Bloomberg.
PIMCO, which is based in Newport Beach, Calif, and has $1.92 trillion in assets under management, has said it will pursue strategies with a global focus to "navigate a changed economic environment after the 2007 to 2009 financial crisis" as part of what it describes as the "new normal," or an era of "lower returns, heightened government regulation, diminishing U.S. clout in the world economy and a bigger role for developing nations."
