The firm's mutual funds, which are relatively new, have also outperformed.

So why have dedicated Russian funds outperformed all other types of fund in the world over the last 10 years?

In his final year as Treasurer (2008), the funds outperformed their peer average by more than 900 basis points.

Mr. Gross said he still thought that his fund would outperform the market this year.

"There is a good chance the funds will outperform the underlying markets they invest in."

"When small caps come back, I think hedge funds will outperform."

But on an annual basis, the fund has outperformed the index in all of the last eight years.

According to Morningstar, the fund has outperformed the average for its peers over the last 3, 5 and 10 years.

But these funds have outperformed most of their peers the last decade, with relatively low volatility.

Over the last four months, the fund has outperformed the stock market.