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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.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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