Pimco Total Return Had $7.5 Billion of Redemptions
This article is for subscribers only.
Bill Gross’s Total Return Fund, the world’s biggest mutual fund, had its third straight month of withdrawals as investors continued to flee bonds.
Clients pulled an estimated $7.5 billion from Pacific Investment Management Co.’s Total Return Fund, leaving the fund with $262 billion in assets at the end of July, research firm Morningstar Inc. said today in an e-mailed statement. Jeffrey Gundlach’s DoubleLine Total Return Bond Fund had $580 million of net redemptions in July, after suffering its first monthly withdrawals in June since opening in April 2010, Chicago-based Morningstar said.