Pimco's flagship multi-bond fund was the fastest-growing in Europe in January, capping a remarkable year that has seen it swell to become one of the continent's behemoths.

During the month, the Pimco GIS Income Fund - co-managed from Newport Beach, California, by chief investment officer Dan Ivascyn and portfolio manager Alfred Murata, ticked over €20 billion under management, according to the latest figures from analysts Morningstar.