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Investors withdraw record sum from Pimco fund

  • Investors have withdrawn $23.5bn in funds from Pimco after co-founder Bill Gross announced his sudden departure from the firm last month.

    The bond giant’s Total Return bond fund lost over 10% of its assets last month, reports said, after Gross, a star manager, joined Janus Capital, a rival company.

    In an attempt to reassure investors, Pimco said in a statement that the fund was “well positioned to meet potential redemptions”.  

    Pimco has faced 17 consecutive months of outflows.

     

     

    Tagged as: Pimco, Bill Gross, bond giant, Total Return bond fund, Janus Capital, investors, outflows, business news