PIMCO Total Return suffers record $27.5bn October outflow after Gross exit

The PIMCO Total Return fund suffered a record $27.5bn in outflows last month, following on from the $23.5bn pulled out in September as Bill Gross (pictured) left the company.

An 18th consecutive month of net redemptions mean the fund is now $170.9bn in size - down from an April 2013 peak of $293bn - according to PIMCO. The fund group said outflows slowed notably as October progressed, adding that almost half of the $27.5bn outflow occurred during the month’s first five trading days. Separately, PIMCO said the GIS Total Return Bond fund, a mirror fund available to UK investors, saw $2.1bn in outflows last month. That meant total assets dropped to $11.4bn, with the pattern of redemptions the same as for its flagship portfolio. Gross’ departure from the fi...