Gross loses largest fund crown to Vanguard as redemptions mount

Anna Fedorova
clock

Bill Gross' Pimco Total Return fund has lost its position as the largest mutual fund in the world after investors pulled over 13% of assets from the fund since the summer.

Gross' fund - which has more than doubled in size between 2008 and 2012 according to Bloomberg - attracted $50.1bn in 2009 and $22.6bn in 2012, but has had a tough year in 2013 as investors turn away from fixed income. Bond markets have suffered a heavy sell-off after a monumental bull market that has spanned three decades. Investors are now concerned over the outlook for bonds, and with yields so depressed they have been looking to equities for returns instead. Bond funds across the globe have suffered as a result, with US mutual bond funds seeing redemptions of $117bn (£73bn) in ...

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 uncategorised

One to Watch: A 'genuinely defensive' multi-asset fund

FE's Joshua Ausden scours the marketplace for the best hidden gem funds for your portfolios.

Joshua Ausden
clock 09 June 2015 • 4 min read

EFGAM launches high conviction global equity fund

EFG Asset Management has launched a New Capital Global Equity Conviction fund for head of equity research Robin Milway.

Anna Fedorova
clock 11 May 2015 •

River & Mercantile's top five global recovery plays

Top five recovery plays

Natalie Kenway
clock 20 March 2015 •
Trustpilot