Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Pimco Total Return fund hit with $4bn outflow in May

Pimco Total Return fund hit with $4bn outflow in May

Pimco was hit with a further outflow of $4.3 billion from its flagship Total Return Bond fund in May.

Run by founder Bill Gross, who is Citywire + rated, the world's largest bond fund has now fallen to an estimated $229 billion on the back of recent outflows, according to the Financial Times.

The preliminary figures are from Morningstar and suggest that over $4 billion was redeemed from the fund, equating to 1.9%. This represents the thirteenth consecutive month of outflows and the worst level since last October.

The news follows the shock resignation of co-chief investment officer Mohamed El-Erian in January, with reports of tensions between El-Erian and Gross.

According to Lipper data, the fund posted a 10.4% three-year return to the end of April and was sixth out of the eight-strong US Dollar Bond sector.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter