PIMCO's Flagship Fund Sees Its 17th Straight Monthly Outflow, And It Was Massive
Courtesy of SAM RO
PIMCO, Morningstar, Business Insider
PIMCO's flagship Total Return Fund saw a breath taking $23.5 billion in net outflows in September.
"Of note, the largest daily outflow occurred on the day of Bill Gross’s resignation from the firm, while outflows on the two following days were considerably smaller," PIMCO said in a press release.
That was the 17th straight month of net outflows for a cumulative total amount of about $92 billion.
All of this is part of the legacy that CIO Bill Gross leaves behind as he heads to Janus Capital.
PIMCO has attracted a lot of attention in recent months, largely because of the unexpected departure of CEO Mohamed El-Erian and revelations of Gross's unorthodox management style.
Despite the outflows, PIMCO's fund continues to be massive with roughly $200 billion in assets under management.
