Report - Pimco suffers 11th straight month of withdrawals

Bill Gross Interview Pic

Bill Gross’s Pimco Total Return Fund suffered its 11th straight month of withdrawals in March as the world’s largest bond fund trailed peers, according to Morningstar.

Bloomberg reports that clients withdrew an estimated $3.1bn from Pacific Investment Management’s $232bn bond fund, formerly the world’s largest mutual fund, Morningstar said in an e-mail.

Industrywide, investors returned to bond funds, putting an estimated $11.6bn into bond funds last month through March 19, according to the Investment Company Institute.

Gross’s fund advanced 1.3% this year through March 31, trailing 73% of peers, according to data compiled by Bloomberg. In March, the fund fell 0.6% to trail 95% of peers as Federal Reserve Chairman Janet Yellen outlined plans to increase interest rates, undermining a bet by Gross.

To access the complete Bloomberg article hit the link below:

Gross's Total Return Loses $3.1 Billion to Withdrawals 

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