Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. 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 Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter