Gross suffers 15th straight month of outflows

clock

PIMCO's giant Total Return Bond fund - headed up by Bill Gross - suffered outflows in July, clocking up its fifteenth straight month of withdrawals, according to new data.

The fund lost $830m of assets - 0.4% of the fund - taking total assets down to $223bn, according to Morningstar. PIMCO's fund has been one of the worst impacted by the so-called Great Rotation over the last year. Gross' fund began losing assets in May 2013, after Federal Reserve chair Ben Bernanke first mentioned the prospect of tapering bond purchases. The fund, then the world's largest at $286bn, lost the title in November to the Vanguard Total Stock Market Index tracker. PIMCO has also suffered from an acrimonious dispute over working conditions centring on Gross, that ended...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Bonds

Join us today to discuss why 2024 is an attractive entry point for fixed income

Join us today to discuss why 2024 is an attractive entry point for fixed income

Sarka Halas
clock 25 March 2024 • 1 min read
Partner Insight: Moving from cash to corporate bonds ahead of cutting-cycles

Partner Insight: Moving from cash to corporate bonds ahead of cutting-cycles

Fidelity International

Ben Deane, Investment Director, Fixed Income - Fidelity International
clock 19 March 2024 • 13 min read
JP Morgan AM to wind up Sterling Bond fund as assets dwindle

JP Morgan AM to wind up Sterling Bond fund as assets dwindle

Fund size of £29m

clock 18 March 2024 • 1 min read
Trustpilot