Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter