PIMCO hit by second month of consecutive outflows

Bond giant Pimco has been hit by a second consecutive month of record outflows in its flagship fund following the departure of star fund manager Bill Gross.

The company said clients pulled out $27.5 billion (£17.3 billion) from the Pimco Total Return Fund in October, lowering the amount of assets under its control to  $170.9 billion compared to a peak of $293 billion last April.

The outflows surpass the  $23.5 billion pulled out in September when “Bond King” Gross quit Pimco for Janus Capital, a day before he was expected to be fired from the firm he helped found more than 40 years ago.

Full article: PIMCO hit by second month of consecutive outflows (The Independent)

Comments are closed.