Pimco’s Assets Declined 10% in Quarter After Gross Exit
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Pacific Investment Management Co. saw assets decline about 10 percent in the fourth quarter as the abrupt departure of co-founder Bill Gross prompted client withdrawals.
Assets fell to $1.68 trillion from $1.87 trillion at the end of September, according to information posted on Pimco’s website. Its Pimco Total Return Fund, the world’s biggest bond fund, has shrunk to $143.4 billion from $222 billion at the end of August, the month before Gross left, and $293 billion at the peak in April 2013.